The [digital pound ](https://www.bankofengland.co.uk)is a proposed central bank digital currency (CBDC) being explored by the Bank of England. It aims to coexist alongside physical cash and serve as a government-backed, stable digital currency accessible to everyone for day-to-day spending. Issued by the Bank of England and denominated in sterling, it ensures reliability and stability. 

The purpose of the CBDC is to enhance payment options and address the changing landscape of digital transactions. Users can access their digital pound balance, make purchases, pay bills, transfer funds, and more through a digital wallet on smartphones or other devices. 

It promotes monetary stability and financial inclusion by offering a reliable, government-backed means of exchange. 

Currently, the Bank of England is in a [consultation phase,](https://www.bankofengland.co.uk/-/media/boe/files/paper/2023/the-digital-pound-consultation-working-paper.pdf) gathering input from individuals, businesses, and organizations to shape the design and policies of the digital currency. Following the consultation, a two to three-year design phase will explore technological and policy requirements. If outcomes are favourable, a build phase may lead to issuance in the decade's second half. The Bank of England aims to engage with various stakeholders to understand the potential impact and ensure diverse perspectives are considered in shaping the future of the digital pound. 

## A new era of digital money 

The digital currency, if introduced, would be a new type of money issued by the Bank of England. It would be a digital equivalent to physical banknotes, denominated in sterling and maintaining a stable value. This digital currency would be accessible to everyone for day-to-day spending, both in-store and online. 

Furthermore, the [digital pound](/news/article/crypto-price-uk) has the potential to enhance financial inclusion by offering a user-friendly and widely accessible digital currency, reaching unbanked and underbanked populations who may face challenges accessing traditional banking services. 

The UK CBDC could facilitate faster and more cost-effective cross-border transactions, boosting trade and economic growth. 

## Distinguishing characteristics 

As a CBDC, the proposed digital currency by the Bank of England possesses several unique features that differentiate it from traditional cryptocurrencies and other forms of digital money: 

- Government support: This digital currency would be issued by the Bank of England and backed by the government, ensuring its reliability and stability in contrast to privately issued cryptocurrencies. 

- Stability in value: The value of this digital currency would be denominated in sterling, which means it would maintain a stable value relative to the British pound and not experience the extreme volatility often seen with cryptocurrencies. 

- Coexistence with physical currency: Unlike some digital currencies aiming to replace cash entirely, this CBDC is designed to coexist alongside physical banknotes, providing an additional payment option rather than replacing existing ones. 

- Wide accessibility: This digital currency would be accessible to everyone for day-to-day spending, both in-store and online, ensuring that it serves as a viable payment option for the general public. 

- Improved financial inclusion: By offering a digital currency that is widely accessible and easy to use, this CBDC could potentially enhance financial inclusion, reaching unbanked and underbanked populations. 

- Monetary stability: As a CBDC, this digital currency would maintain monetary stability, as the [Bank of England](/news/article/uk-sought-cbdc-head) would directly influence its issuance and circulation. 

These unique features make the proposed CBDC a groundbreaking development in digital currencies, providing individuals and businesses with a secure, convenient, and government-backed digital payment option. 

## Conclusion 

The digital pound represents an exciting development in the evolution of money. As technology continues to transform payment systems and digital transactions become increasingly prevalent, a central bank digital currency like the one proposed holds the potential to provide a secure, convenient, and government-backed digital payment solution for individuals and businesses. 

The ongoing consultation process ensures that public input is considered in shaping the design and policies of this digital alternative. 

yellow image of pound coins and digital pound statistics

Understanding the digital pound 

The crypto market is witnessing the success of social mining projects thanks to the growing presence of Web3-based social media platforms. One notable project in this space is the XEN crypto network that focuses on community building based on Satoshi Nakamoto principles. 

The project was set up by Jack Levin and his Fair Crypto Foundation in October 2022. 

This article covers all the details you need to know about XEN crypto. 

## What is XEN crypto? 

[XEN crypto](https://www.xencrypto.io/) is a network built with three main crypto principles: self-custody, decentralisation, and transparency. 

The community-focused platform plans to unite like-minded Web3 developers with an economic system based on its native token. 

XEN token introduces an open-source smart contract on the Ethereum blockchain. It follows the ERC20 token standard and is deployed on around ten blockchains. These include Binance Smart Chain (BSC), Avalanche, and Polygon. 

One of the unique things about the token is that you can mint the token for free. 

The project aims to tackle two critical issues in the cryptocurrency market. The first is overbuying popular cryptocurrencies, and the second is whale accumulation and pre-mining of lesser-known cryptocurrencies.  

## How does XEN crypto work? 

The XEN network works with the Proof of Participation (PoP) mechanism, which allows it to create a fair ecosystem. The consensus mechanism only allows the network participants in the minting of its native token. It means the participants enjoy complete ownership of the network along with self-custody. Moreover, it also helps in maintaining decentralisation on the network.  

The platform also has a unique token distribution and minting system. Anyone can join the network and mint XEN crypto without paying an additional fee. They only need an [Ethereum wallet like MetaMask](/news/article/what-is-metamask-wallet) or Trust to pay for the gas.  

Therefore, you do not necessarily have to buy the tokens from an exchange. Instead, you can mint them by integrating your wallet into XEN and participating in PoP consensus.   

## XEN crypto price and tokenomics 

As of 4 July, 2023, one XEN token is valued at only $0.00000146 only, according to [CoinMarketCap](https://coinmarketcap.com/currencies/xen-crypto/). The project claims its market cap is around $19 million, with a circulating supply of over 13 trillion. However, CoinMarketCap has not verified these claims.  

Meanwhile, the token is inflationary as it did not have an initial max coin supply. The PoP protocol participants create its circulating supply, and its value depends on the minting difficulty. However, a few disinflationary measures allow its value to be appreciated over time. One is to increase the minting difficulty, which makes the token scarce.

## XEN crypto price predictions 

The insights from CoinCodex suggest that it is a highly volatile cryptocurrency. It currently shows more than 10% volatility, with the market sentiment being bearish. Besides, its price is lower than the 50-Day SMA (Simple Moving Average), which is $0.000001735. 

However, CoinCodex predicts that XEN's price may experience an increase of over 40% in the next five days. It may lead its price to $0.000002080, closer to its 200-day SMA. Still, the overall sentiment in the market is expected to be bearish.  

On the other hand, [PricePediction.net ](https://priceprediction.net/en/price-prediction/xen-crypto)shares the yearly forecast for the token. According to it, XEN is expected to average $0.00000182 in 2023 with a max of around $0.00000207. Till 2025, the token's anticipated average value is $0.00000376, with the highest value of $0.00000463.  

Furthermore, PricePrediction.net predicts that even in 2030, XEN's value will only reach $0.0000232. It indicates that the token's growth will be sluggish in the coming years.  

## Is XEN crypto a good investment?  

XEN's crypto price predictions for the next seven years suggest restrained growth, largely relying on a rise in network participants for price appreciation within its PoP protocol. However, if the project is unsuccessful in gaining traction, XEN's value will likely remain bearish. 

Furthermore, the token's current use cases are unclear, contributing to a discouraging long-term outlook. Therefore, exercising caution and conducting thorough research is crucial if considering an investment in XEN. 

All you need to know about XEN crypto 

As more crypto-based startups launch, Initial Exchange Offerings (IEO) grow more popular. But what exactly is an IEO, and how does it work? And what should you consider when selecting one? 

## What is an IEO? 

An IEO ([Initial Exchange Offering](https://www.sec.gov/oiea/investor-alerts-and-bulletins/ia_initialexchangeofferings#:~:text=IEOs%20are%20similar,the%20digital%20assets.)) is a popular capital-raising strategy emerging companies use to raise funds for their projects. Unlike traditional ICO (Initial Coin Offering), where tokens are sold directly to investors, Initial Exchange Offerings rely on centralized exchanges to conduct the token sale. 

This adds a layer of security and transparency for the project team and the investors, as the exchange acts as a trusted intermediary that verifies the project's legitimacy and backs the sale. 

As a result, IEOs have quickly become the preferred fundraising method for many blockchain-based projects looking to gain exposure and credibility in the market. 

The first version of the concept happened in January 2019, when Binance Launchpad launched the [BitTorrent Token](/news/article/btt-crypto-price) (BTT). 

## How does an IEO work? 

Typically, IEOs work in several stages. Here’s how to plan for this capital-raising effort from the beginning to the end: 

- Study market needs: During this phase, the startup’s founders need to identify a market need, get data about it, and design a solution that meets this need. 

- Prepare the MVP: Once the solution is identified, the team seeking funding has to develop a minimum viable product. This is a working prototype of what the actual product will be post-funding. 

- Write a white paper: With the product ready, the company needs a white paper. This document explains the need they spotted, the solution, a roadmap for implementing the solution, and the tokenomics. 

- Develop tokens: The next phase often involves selecting a blockchain, setting up smart contracts, and programming the coin. 

- Selecting an exchange and listing the coin: The last phase involves choosing a crypto trading exchange where the IEO will occur. 

¢¢ What to consider when selecting an IEO 

Here is what you should factor in: 

- The exchange’s reputation: Customer reviews help determine platforms that host lucrative, secure, and legitimate IEOs. It also indicates which exchange is likely to attract more investors. 

- Liquidity: The exchange supporting an IEO needs to have enough liquidity for the token in question. Liquidity ensures buyers can swap the coin with ease. So aim for platforms that provide multiple currencies and trading pools. 

- Safety: When selecting an IEO platform, prioritizing safety is crucial. Look for a platform with secure software and robust data privacy and security measures. 

- Ease of use: Choose easily accessible platforms. Consider factors such as Know Your Customer (KYC) requirements, registration criteria, and the user interface. Complex platforms may overwhelm you or scare away potential investors. 

- Availability: Consider regional restrictions for the IEO platform you want to use. Some exchanges are unavailable in specific regions or countries. So, if you come from or have target investors in such areas, this can pose a challenge. 

## Pros and cons 

Like many digital asset space processes, IEOs have advantages and disadvantages. Let's break down the advantages and disadvantages of initial coin offerings. 

### Pros 

- IEOs are safer than other early-stage investment options, like ICOs. Because they are attached to pre-existing and reputable exchanges, there’s a lower risk of fraud and scams. 

- The exclusivity of IEOs also makes them impressive. These investment opportunities are only open to the exchange’s members, reducing the complications of public access. 

- IEOs offer a ready user base for startup founders. Because the exchanges supporting them already have users, it’s easier for companies to find potential investors. 

### Cons 

- Listing coins for IEOs can be costly, especially when listing on high-ranking trading sites. Additionally, companies may need to pay exchange commissions on the money earned. 

- IEOs can also limit the investor pool. This mostly happens when the selected exchange has regional restrictions or complex KYC processes that lock out investors. 

## Conclusion 

IEOs are impressive opportunities to generate capital for budding organizations. They are also a more secure way to make early-stage crypto investments. However, it always pays to be cautious and do research before settling for an IEO. 

What Is an IEO and How Does It Work?

The cryptocurrency market has witnessed exponential growth and diversification in recent years, with numerous digital assets entering the scene. One such intriguing project is GMT, which has gained considerable attention among crypto enthusiasts and investors. 

This comprehensive article aims to shed light on GMT and its underlying technology and provide insights into how you can acquire GMT Coins. 

## Understanding GMT crypto 

[GMT](https://cointelegraph.com/learn/what-is-stepn-gmt-a-beginners-guide-on-the-web3-lifestyle-app#:~:text=A%20governance%20token%2C%20GMT%2C%20can,to%20swap%20GMT%20with%20USDC.) is a company that offers a device for mining Bitcoin and other cryptocurrencies. The company also has its [utility token](https://morioh.com/p/c6a576f134b5), GMT, which is backed by the computing power of the device fleet, meaning each token represents a share of the network's total hash rate. The token holders can use the token to access various benefits and services, such as discounts, rewards, voting rights, and exclusive offers. 

GMT claims that its device, the GMT Miner, is the world's first plug-and-play crypto mining device that anyone can use anywhere. The device is designed to be easy to set up, low-maintenance, and energy-efficient. 

The GMT Miner can [mine Bitcoin](/news/article/bitcoin-miners-sustainable) and other cryptocurrencies using a proprietary algorithm that optimizes the mining performance and profitability based on the market conditions and the device's capabilities. The device can also switch between different cryptocurrencies automatically to maximize returns. 

Cryptocurrencies have revolutionized the financial landscape by offering decentralized, secure, and efficient means of conducting transactions. GMT crypto is an innovative digital currency that harnesses blockchain technology to enable secure peer-to-peer transactions and financial sovereignty. 

## How does GMT compare to other crypto mining companies? 

Comparing GMT to other crypto-mining companies requires a comprehensive analysis based on various factors. As GMT crypto is a digital currency rather than a traditional mining company, it is vital to consider its unique characteristics. 

Here are some points of comparison 
- Market Capitalization: GMT crypto's market capitalization can be compared to other cryptocurrencies or digital assets. It represents the total value of the GMT coin in circulation and can provide insights into its perceived value in the market. 

- Price-to-Sales Ratio: Since GMT is not a publicly traded company, there is no stock price or revenue per share. 

- Growth Rate: While GMT's growth rate cannot be directly compared to traditional mining companies, its adoption and user base expansion can be evaluated. Factors such as the number of active users, transaction volume, and community engagement can provide insights into GMT's growth trajectory. 

- Technology and Innovation: Comparing GMT to other mining companies involves considering the underlying technology and innovation behind the project. GMT's utilization of blockchain technology, privacy features, and smart contracts can be compared to similar features other mining companies offer. 

- Ecosystem and Partnerships: Evaluating the ecosystem and partnerships surrounding GMT can provide a basis for comparison. This includes assessing the availability of decentralized applications (DApps), collaborations with other companies or organizations, and community initiatives. 

## The technology behind GMT 

[GMT crypto](lhttps://stealthoptional.com/crypto/what-is-gmt-crypto/) is built on a blockchain, a decentralized ledger that records all transactions conducted on the platform. Blockchain technology provides transparency, immutability, and security to the network, making it a reliable system for users. 

The GMT blockchain operates on a consensus mechanism known as Proof-of-Stake (PoS). Unlike the energy-intensive Proof-of-Work (PoW) used by Bitcoin, PoS allows users to mine or validate block transactions based on the amount of tokens they hold. This energy-efficient approach ensures a sustainable and eco-friendly cryptocurrency network. 

GMT employs smart contracts to enhance the platform's scalability and functionality. These self-executing contracts facilitate and automate transactions without intermediaries, reducing costs and increasing efficiency. Smart contracts on the GMT network enable various applications, from decentralized finance (DeFi) to non-fungible tokens (NFTs), creating a vibrant ecosystem. 

## Acquiring GMT coins 

If you are interested in acquiring GMT coins, the following steps will guide you through the process: 

- Set up a cryptocurrency wallet: To store GMT coins securely, you need a digital wallet. Choose a reputable wallet provider that supports GMT crypto and offers robust security features. 

- Choose a cryptocurrency exchange: Select a trustworthy cryptocurrency exchange where you can buy GMT coins. Look for exchanges that provide GMT crypto and have a user-friendly interface. 

-Place  an order: On the exchange platform, navigate to the GMT crypto trading pair and enter the desired amount of GMT coins you wish to purchase. Review the transaction details and confirm the order. 

Fund your account: Deposit funds into your exchange account using a payment method the platform supports, such as credit or debit card 

Place an order: On the exchange platform, navigate to the GMT crypto trading pair and enter the desired amount of GMT coins you wish to purchase. Review the transaction details and confirm the order. 

- Store your GMT coins securely: Transfer the acquired GMT coins to your cryptocurrency wallet once your purchase is complete. This step ensures you have full control and ownership of your digital assets. 

## Conclusion 

GMT crypto presents an exciting opportunity for users seeking a reliable and secure digital currency with an emphasis on privacy. The platform's blockchain technology, powered by PoS consensus and intelligent contracts, offers scalability and versatility. 

GMT represents a significant step towards the global adoption of cryptocurrencies and decentralized finance. By understanding the underlying technology and following the steps needed to acquire GMT Coins, you can participate in this emerging digital economy and explore its numerous possibilities. 

Green filter on photo of runners running with gmt stepn logo

What is GMT crypto, and how do I get a GMT coin? 

VRA coin is the novel token of [Verasity](https://www.verasity.io/), a company that looks forward to creating an entirely new experience in digital rights management, AdTech, and esports.  

On 22 May, 2023, Verasity was included in [Binance Research’s Report](https://www.binance.com/en/blog/ecosystem/binance-research-ai-in-crypto--exploring-use-cases-and-possibilities-5866212664985036946) on the progress of Artificial Intelligence (AI) and Crypto. Aside from that, the token has been tagged as an AI token by [crypto](/news/article/is-crypto-dead) asset tracker CoinMarketCap.  

This means that VRA competes with other [AI-backed digital currencies](https://coinmarketcap.com/view/ai-big-data/), such as Fetch.ai (FET) and SingularityNET (AGIX).  

Despite this, the token has brought more than 100% gains to its holders year-to-date (YTD) after beginning the year with an opening price of $0.002204 on 1 January and exchanging hands for $0.004753 on 6 June.  

Before this, the virtual asset reached a yearly high price of $0.0112 on 8 February. Traders that locked in gains during the second month of the year walked away with more than 400% in gains in less than two months should they have purchased the token on the first day of 2023. 

![coinmarketcap screenshot](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/coinmarketcap_screenshot_6d2eb5dd77.png)

While the relevance of AI technologies such as OpenAI’s ChatGPT and other chatbots have shed light on the emergence of new tools that aim to make our lives and work relatively easier, what are the real primary drivers behind the spike in VRA coin's spike?  

## VRA coin's parent company is completing all milestones in the roadmap 

In the first quarter of 2023, Verasity completed several projects under VeraEsports, VeraWallet, and [VeraViews](https://www.verasity.io/adtech) as part of its [roadmap](https://www.verasity.io/roadmap). 

Verasity was created to solve many problems using blockchain technology, including advertising fraud. 

Due to the millions of dollars in revenue that creators could obtain, many use computer-generated ad interactions to trick advertisers and publishers about the genuineness of several engagements. 

Millions of people have gotten away with the manipulation of analytics data, but this is where VeraViews come in with a solution transparent enough to invalidate all forms of ad fraud in real-time. 

According to the official website of Verasity, the project has set up a knowledge base for publishers that includes integration information. Aside from this, user management functionality created for publishers for multiple admins has also been created. 

More importantly, due to diversity, multilingual website support has also been integrated to help users get the best out of the technology.  

The market for ad fraud is projected to reach $100 billion in 2023, but Verasity looks forward to using VeraViews to thwart the efforts of cybercriminals. 

One of the most important products completed in Q1 2023 was VeraWallet. Crypto wallets play an integral role in the blockchain-powered economy. Without wallets, it would be extremely difficult for facets of the sector to work in unison.  

The crypto wallet market worldwide is projected to be worth approximately [$48 billion](https://www.researchandmarkets.com/report/cryptocurrency-wallet#:~:text=The%20global%20crypto%20wallet%20market,out%20any%20transactions%20in%20cryptocurrency.) by 2030, a 24.4% Compound Annual Growth Rate from around $8 billion in 2022.  

While Research and Markets mentioned companies such as Coinbase Global Inc., Crypto.com, Binance, Ledger SaS, BitPay, BitGo, and Zengo Limited to help attain the aforementioned valuation, Verasity is contributing to this market in its own way.  

VRA coin is held in VeraWallet. As a token, it possesses all six essential attributes of currency: transferability, durability, scarcity, divisibility, non-counterfeitability, and utility. 

As a utility token, it is used to exchange and transfer value in virtual gaming, non-fungible tokens (NFTs), esports, and video economies across the globe. 

Global NFT market sales have surpassed [$57 billion](https://www.cryptoslam.io/nftglobal), while the worldwide esports market has also been projected to reach $6.75 billion by 2030.  

As of 7 June, 2023, VeraWallet has more than 300,000 users, and the token is listed on more than 20 crypto exchanges (centralized and decentralized).  

Unlike other wallets, the project has taken a major leap above the rest with the launch of VeraCard, which has been made available to UK residents.  

With the digital currency playing an integral role across these booming industries, the resultant effect could be a significant price spike in the coming months.  

The last driver of the token's value over the past six months is [VeraEsports](https://www.verasity.io/esports). Under this product, the project has created unlimited possibilities for gaming and crypto economy stakeholders to help them earn rewards through their play activities. 

Watch & Earn helps users earn rewards by watching and playing their favourite tournaments. As a result, several partnerships have been formed with major brands in the industry, such as PUBG Mobile, Orange Esports, NIMO TV, Huya.com, thegamingco, MINESKI Global, and Esports Business Network.  

## Conclusion: Is VRA coin a good investment? 

Yes, the token is one of the cryptocurrencies you should consider including in your investment portfolio.  

This is because it remains relevant not only in the AI-token space but mainstream crypto space as well. 

On 2 June, VRA was named one of the top 10 crypto [projects by social activity](https://twitter.com/Crypto_Dep/status/1664570823267561472). It trailed mainstream assets such as Avalanche (AVAX), Dogecoin (DOGE), Polygon (MATIC), Binance Coin (BNB), Solana (SOL), Ethereum (ETH), and Bitcoin (BTC), among others. 

This means that millions of traders consider the token one of the go-to [coins](/news/article/rune-coin-and-thorchain). This explains why daily trading volume peaked at about $71 million on 8 February. 

About 9% of total assets are in circulation, so scarcity also lies ahead of the currency. 

VRA coin has not been listed by the largest crypto exchange by volume in the US (Coinbase) and across the globe (Binance). These potential listings could also lead to another surge in the token's value. 

green image of VRA coin logo on photo of a trading setup

VRA coin doubles in value in 2023 due to roadmap 

Since 2021, news has been circulating in the crypto market about the launch of the Amazon digital currency. 

Amazon Inc. is one of the leading American multinational firms known for its e-commerce and cloud computing services. Its entrance into the crypto market can be a game changer that may lead to various blockchain innovations. An Amazon token may compete with popular cryptocurrencies like Bitcoin and Ethereum.  

However, as of now, concrete information regarding its release date or presale still needs to be made available. If you have questions such as "Where and how can I buy Amazon crypto currency?" or "When will the coin be launched?" this article provides the answers you seek. 

## Can we expect an Amazon crypto currency to launch in 2023? 

For two years, the crypto market has been buzzing with many questions about the launch of a crypto coin project from the e-commerce behemoth. 

Many news outlets have reported that the company wants to introduce its own crypto. However, the company has [not confirmed anything yet](/news/article/amazon-cryptocurrency).  

The company has been mum so far. There is no official statement regarding the project's progress and when and if the company is releasing it. Therefore, it is highly unlikely to release the coin in 2023. 

Various analysts also dubbed the alleged AMZ crypto's presale a scam. Reportedly, fraudulent actors behind this project are tricking the investors into buying a fake asset to acquire their funds illegally. Therefore, proceeding with due diligence is advisable if you want to invest in the token. 

## Why are there rumours about an Amazon crypto currency launch? 

One might wonder why so many rumours surround the Amazon crypto coin presale. There are three main reasons behind it reflecting the company's interest in the blockchain and crypto industry. These include: 

### Job posting for a blockchain and digital currency expert 

The rumours of this launch started in 2021 when the firm showed interest in the crypto industry by posting a job ad. It was looking to hire a digital currency and blockchain expert to supervise its projects. However, the company did not mention the specifics of the project. 

The company offers managed blockchain services, and this job posting was probably related to it. Nonetheless, the scammers might have used this news to propagate the concept of the AMZ token. 

### Partnership with Avalanche 

Another reason that suggests the firm's engrossment with the industry is its partnership with [Ava Labs](https://medium.com/avalancheavax/ava-labs-and-aws-bring-scalable-blockchain-solutions-to-enterprises-and-governments-295040a34263). The Avalanche blockchain uses AWS tools to build several features for its DApp ecosystem. The e-commerce giant's alliance with the blockchain network is significant. 

It is another reason that people expected a crypto token from Amazon. However, the company so far has not confirmed whether it is working on a cryptocurrency or not. 

### Potential NFT marketplace 

Besides the AMZ token, several reports suggest that the company is planning to launch a non-fungible token (NFT) marketplace. [Yahoo Finance UK reported ](https://uk.finance.yahoo.com/news/amazon-launch-nft-marketplace-crypto-cryptocurrency-bitcoin-ethereum-web3-blockchain-112832271.html)on 7 March, 2023, that the company is looking to introduce an NFT marketplace in April. The report further claimed that the digital marketplace may include NFTs of clothing or other fashion accessories. 

Meanwhile, a renowned NFT collector, Moritz, also shared a detailed thread on Twitter regarding this digital marketplace. He maintained that "it is huge for Web3". 

Furthermore, he claimed that the marketplace will be easy to use and not require a deep understanding of blockchains or wallets. 

Nevertheless, as of writing, this news has yet to be confirmed by Amazon, and the Moritz thread acknowledged it.  

## Can Amazon step into the crypto market? 

The cryptocurrency market can offer various opportunities for a tech giant like Amazon. Here are some reasons why it may consider entering the market: 

- To create a more convenient method for customers to buy and sell cryptocurrencies. 

- To compete with other major retailers that are already accepting cryptocurrencies. 

- To generate new revenue streams from crypto trading and mining. 

- It may allow it to compete with other tech giants already involved with crypto. 

## Is AMZ coin really a scam? 

Our research suggests that AMZ coin is a potential scam project using Amazon's reputation to swindle money from investors. There is no particular source that suggests Amazon's affiliation with this project. There's also almost no information about the token on platforms like CoinMarketCap or Coingecko. Besides, Amazon’s silence on the matter creates further confusion. 

Nevertheless, the company's continued hiring of crypto-related talent and partnerships with blockchain firms suggests it is considering stepping into the crypto market. But, until the company itself does not confirm anything, it will remain a risky investment. 


Amazon crypto currency: Will it launch in 2023? 

If you're interested in trading crypto, you may have wondered how to invest in Bitcoin in the UK. 

Bitcoin is a decentralised digital currency functioning autonomously, free from the power of central authorities or government regulations. It operates using peer-to-peer software technology and relies on cryptographic principles. 

Being an open-source system, the coin is accessible to the general public. This inclusive nature allows anyone to engage in Bitcoin transactions. The distinctive features of Bitcoin offer unprecedented possibilities for various innovative applications that were not feasible with traditional payment systems. 

The coin has always been a volatile asset, rising and falling like tides, presenting opportunities to investors alongside heavy risk. However, BTC has been the investor's top choice in the investment portfolio. 

Buying Bitcoin has always been the best move when investing in the crypto industry. Below, in the article, we've explored how to invest in Bitcoin in the UK and where to store it. 

## How to invest in Bitcoin UK 

### 1.    Choose a crypto exchange 

To purchase and invest in Bitcoin (BTC), individuals must choose a crypto exchange, a platform where trades meet to exchange their pounds sterling for the digital coin. 

Crypto exchanges offer investors the opportunity to purchase, sell, and retain cryptocurrencies and facilitate the transfer of digital assets to secure wallets. 

While multiple exchanges exist, new investors should prioritise selecting an exchange that balances user-friendliness, low transaction fees, and robust security measures. Monitalks has conducted detailed research to help new investors choose [the best exchange](/news/article/best-crypto-exchange-uk-reddit) platform. 

### 2.    Link your payment method to the exchange platform 

After selecting an exchange, you must deposit funds into your account to initiate Bitcoin investments. The options for funding your account may vary depending on the exchange, including bank transfers from a current or savings account or using a cryptocurrency wallet. 

Considering that fees directly impact the amount of money available for investment and subsequently affect the potential for growth and compounding, it is generally advisable to opt for electronic transfers from a bank account over alternative methods. 

### 3.    Place your Bitcoin order 

Once you have successfully deposited funds into your account, you can initiate your first purchase of Bitcoin. The process varies depending on the platform. Some allow you to buy Bitcoin by simply tapping a button. In contrast, others may require you to enter Bitcoin's ticker symbol (BTC). Following that, you must specify the amount you wish to invest. 

Upon completing the transaction, you will become a partial owner of a Bitcoin. This is due to the significant initial investment required to purchase a complete Bitcoin. For example, if the Bitcoin price is £30,000, you would need to invest that amount in acquiring one Bitcoin. In the scenario where you invested a lesser amount, say £1,000, you would receive a proportionate percentage of a Bitcoin, which in this case would be 3.33%. 

## 4.    Store your coin in a Bitcoin wallet 

Cryptocurrency exchanges commonly offer integrated [Bitcoin wallets ](/news/article/top-rated-bitcoin-wallets-uk)or establish partnerships with trusted entities that provide secure storage for Bitcoin. However, some individuals may be concerned about leaving their digital assets connected to the internet, as it increases the risk of potential theft by hackers. 

To address such concerns, many reputable exchanges have implemented private insurance policies that offer compensation to clients in case of theft. Furthermore, these exchanges are increasingly adopting storing most customer funds in offline storage solutions known as 'cold storage,' which provides an additional layer of security. 

For those seeking the highest level of security, storing Bitcoin in a personal online or offline wallet is possible. Nevertheless, it is important to note that transferring crypto from an exchange to a personal wallet may incur a small withdrawal fee. Moreover, if a third-party crypto wallet custodian is utilised, losing the private key, which is the wallet password, may result in losing permanent access to the stored coins. 

## Hot wallets vs. cold wallets 

Hot wallets store personal and private keys online in a password-protected account, typically with a crypto exchange. Hackers target them to gain access to assets for trading. While hot [wallet](/news/article/best-crypto-wallet) providers have improved security measures, hackers pose a threat. 

Hot wallets offer convenience as they can be accessed from anywhere, and the provider can help restore access through identity verification if login details are forgotten. 

[Cold wallets](/news/article/cryptocurrency-hardware-wallet) are offline and disconnected from the internet, making them potentially more secure than hot wallets. They are like thumb drives that require a seed phrase, a randomly generated private key, to unlock the wallet, which is difficult to crack without prior knowledge. 

However, connecting a cold wallet to an internet-connected device eliminates the security advantage, exposing vulnerabilities to hackers. Also, if a user loses their private key, it becomes nearly impossible to recover the cold wallet. 

Lastly, cold wallets must be purchased, while hot wallets are often free. 

### Ledger Nano X 

[Ledger Nano X ](https://shop.ledger.com/products/ledger-nano-x)is the best cold Bitcoin wallet available in the market. It is a highly suitable choice for most investors due to its extensive support for over 5,000 coins and its ability to manage NFTs. Moreover, it includes an integrated exchange feature that enables secure cryptocurrency purchases using the wallet. This device can be efficiently operated on any 64-bit PC, iOS, or Android platform. 

The Ledger Live app, accompanying the Nano X, provides additional features such as payment options and DApps. Furthermore, it allows the seamless transfer of assets from multiple exchanges to the Nano X, offering enhanced convenience for asset management and trading while prioritising their safety. 

### Coinbase 

[Coinbase](https://www.coinbase.com/wallet)- the most chosen hot wallet, provides an exceptional user experience and caters to various user needs in the UK. It ensures accessibility and assists new users in navigating the crypto world. Cutting-edge security technologies protect virtual assets, and web and mobile wallets offer flexible access. The decentralised platform enables users to have complete control over their crypto assets. Features like staking, lending, and Yield Farming are also available. 

How to invest in Bitcoin in the UK? 

In 2022, a harsh crypto winter caused substantial losses for investors, undermining trust and creating uncertainty. However, there is now a glimmer of hope as the market gradually shows signs of recovery, with Bitcoin, Ethereum, and other cryptocurrencies exhibiting some stability. Considering current affairs, investing at this juncture can be a prudent choice. If you're seeking the best crypto currency to invest in today, we present the top seven options to consider. 

## 1. Bitcoin (BTC) 

Undeniably, Bitcoin is the premier cryptocurrency globally, enjoying the advantage of being the first mover among its peers. Because of its dominance, many consider it the 'best crypto currency'. Introduced by Satoshi Nakamoto in 2009, it shaped the blockchain industry and revolutionised the concept of currency.  

At its inception in 2009, the value of one BTC stood at a mere $0.00099. Over the following years, Bitcoin made steady progress, with its price crossing the $500 mark in 2016, a significant milestone for a virtual currency. However, it was in 2017 when the price of Bitcoin experienced an explosive surge. As of June 2023, one Bitcoin is trading at approximately [$25,000.](https://coinmarketcap.com/currencies/bitcoin/)

This upward trajectory showcases the immense [potential of Bitcoin](/news/article/will-bitcoin-go-back-up) as a long-term investment. Furthermore, with a maximum supply of 21 million Bitcoins, their scarcity is expected to drive their value further. 

## 2. Ethereum (ETH) 

After Bitcoin, Ethereum stands as the second most prominent cryptocurrency and, for many altcoin enthusiast, the best crypto currency. The Ethereum blockchain has played a pivotal role in transforming the industry through its innovative smart contracts and significant impact on the non-fungible token (NFT) market. This has made Ethereum a favourite among developers and investors alike.  

[ETH ](/coins/eth)debuted in 2015, initially priced at a mere $0.4. However, it has experienced substantial growth for the past eight years and is currently trading at approximately $1,900. This remarkable surge equates to an astounding percentage growth of 474,900%.

## 3. Tether (USDT) 

Tether is yet another prominent cryptocurrency worth considering for investment. As a stablecoin, Tether is pegged to the value of the US dollar, ensuring that it maintains a consistent and stable worth. The primary objective of utilising stablecoins such as USDT is to safeguard your funds against the inherent volatility of the crypto market. 

[USDT](/coins/usdt) has established itself as one of the most widely used and trusted stablecoins, boasting an impressive market capitalisation of approximately $83.2 billion. 

## 4. Binance Coin (BNB) 

[Binance Coin](/news/article/guide-to-binance-uk), commonly referred to as BNB, is an initiative by Binance, one of the largest cryptocurrency exchanges worldwide. The coin was introduced in July 2017 as part of Binance's Binary Finance initiative to advance its offerings. Built on the [Binance Smart Chain (BSC)](/news/article/bnb-price), BNB plays a pivotal role within the Binance ecosystem, collaborating with various blockchain projects. 

BNB's association with numerous blockchain initiatives on the Binance exchange sets it apart from other cryptocurrencies. This affiliation grants the coin increased exposure to the market, capturing the interest of investors. 

During its launch, BNB was priced at a mere $0.09, steadily increasing in value over time. While its price remained below $50 following its 2020 launch, it gained significant momentum during the bullish cycle of 2021. The coin holds a market value of $306.30, boasting a market cap surpassing $47.7 billion. 

## 5. US Dollar Coin (USDC) 

USD Coin ([USDC](/coins/usdc)) is a widely recognised stablecoin in the market. It [shares similarities with USDT](/news/article/usdc-vs-usdt) as it is also pegged to the US dollar, ensuring price stability. The coin was introduced in September 2018 by The Centre consortium. Its purpose aligns with other stablecoins, aiming to address volatility concerns and create a secure ecosystem for users in the realm of decentralised finance (DeFi) and Web3 gaming. 

As of 5 June, 2023, the market capitalisation of USDC amounts to a substantial $28,911,645,575, positioning it as the fifth-largest cryptocurrency in the market. 

## 6. Cardano (ADA) 

Cardano's blockchain and its cryptocurrency [ADA ](/news/article/ada-price-in-gbp-conversion-analysis)are renowned for innovation in the crypto market. With a strong commitment to environmental sustainability, Cardano incorporates energy-efficient practices and actively supports eco-friendly initiatives - for example, collaborating with [Veritree and Samsung](/news/article/cardano-samsung-climate-change) for a climate action initiative. This environmental focus has contributed to the growing popularity of ADA. 

The Cardano blockchain has expanded its ecosystem to include NFTs, DeFi projects, GameFi, and more. This diverse and evolving ecosystem positions ADA as one of the strong contenders for best crypto currency. 

## 7. Dogecoin (DOGE) 

[Dogecoin](/coins/doge) is a cryptocurrency that has gained notoriety primarily due to market hype. Originating as a meme coin, it captured the attention of crypto enthusiasts, especially after receiving endorsements from prominent figures like Elon Musk, the owner of Twitter and Tesla. One of the distinguishing factors of DOGE is its dedicated community, known for creating humorous DOGE memes. 

At time of writing, Dogecoin's price stands at a modest [$0.06](https://coinmarketcap.com/currencies/dogecoin/). However, its market capitalisation exceeds $10 billion, indicating its significant popularity among investors. As a result, DOGE holds the potential to emerge as a prominent cryptocurrency in the future. 

## Final thoughts 

If you seek the best cryptocurrency for investment, consider the seven options we mentioned. Note, however, that this does not constitute investment advice but serves informational purposes. 

Remember that all investments carry risks, so employ risk management strategies and conduct thorough research. 

Before making any investment decisions, establish your investment goals and devise long-term and short-term strategies. 

Assess your risk tolerance and only invest what you can afford to lose. If you are still determining the suitability of these cryptocurrencies, consulting a financial advisor is a wise step. 

The best cryptocurrency to invest in 2023 

The world of crypto has witnessed a rapid evolution in recent years. Among the many digital assets that have emerged, ADA has gained significant attention. 

[ADA,](/news/article/latest-cardano-news-and-roadmap) short for Cardano, is a blockchain-based cryptocurrency that seeks to revolutionize how we conduct financial transactions and build decentralized applications. 

## What are ADA crypto use cases? 

ADA, the cryptocurrency token of [Cardano](https://cardano.org/), has a wide range of use cases that demonstrate its versatility and potential impact. Some notable use cases include decentralized finance ([DeFi](/news/tag/defi)) applications such as lending, borrowing, and yield farming, which ADA can use as a medium of exchange or collateral. 

ADA can utilize for identity verification, supply chain management, voting systems, and even in the healthcare sector for secure storage and sharing of medical data. With its scalability, security, and interoperability, ADA is a valuable tool for various industries seeking to leverage blockchain technology for enhanced efficiency and transparency. 

# The benefits of ADA 

- Scalability: By separating the settlement layer from the computation layer, Cardano can scale each layer independently, enhancing the network's overall performance. 

- Sustainability: Cardano uses the Ouroboros Proof of Stake (PoS) consensus mechanism, which requires significantly less energy than traditional Proof of Work (PoW) mechanisms. 

- Enhanced Security: Cardano's Ouroboros consensus mechanism is suitable for providing robust security by involving stakeholders with ADA in the validation process. This PoS-based approach enhances the network's security, reducing the risk of attacks, such as 51% of attacks commonly associated with PoW-based blockchains. 

- Privacy: Cardano incorporates privacy protocols and techniques to enable secure and confidential transactions. 

- Interoperability and Cross-Chain Compatibility: This interoperability allows for the efficient transfer of assets and data between different blockchain platforms, enhancing the overall connectivity and usability of the ecosystem. 

## Cardano's approach to decentralized finance 

Cardano has a comprehensive approach to decentralized finance (DeFi), aiming to build a robust financial operating system that offers secure, transparent, and inclusive financial services. 

### Technological Infrastructure: 

Cardano's blockchain technology provides a solid foundation for DeFi applications. Its scalable and sustainable architecture enables efficient transaction processing and smart contract execution. 

### Interoperability and Cross-Chain Compatibility: 

Cardano recognizes the importance of interoperability in the DeFi space. It aims to establish seamless connectivity and integration with other blockchain networks, enabling the transfer of assets and data across different platforms. 

### Decentralized Applications (DApps) and Smart Contracts: 

Cardano provides a platform for developers to build decentralized applications (DApps) and execute smart contracts. Cardano's focus on security and formal verification ensures that DApps and smart contracts deployed on the platform are reliable, secure, and free from vulnerabilities. 

### Financial Inclusion and Accessibility: 

By leveraging blockchain technology, Cardano enables cost-effective and efficient financial services, such as lending, borrowing, remittances, and microfinance, to be accessible to a broader population. This inclusive approach empowers individuals and promotes economic growth and social development. 

### Compliance and Regulatory Frameworks: 

It aims to collaborate with regulatory bodies and policymakers to establish frameworks that foster innovation while ensuring consumer protection and financial stability. By working within regulatory boundaries, Cardano seeks to build trust and create a sustainable DeFi ecosystem that aligns with legal and compliance requirements. 

## Investing in ADA crypto 

Investing in ADA, the native cryptocurrency of Cardano, requires understanding the available wallets, exchanges, and staking options and considering the long-term potential and market outlook. Here's what you need to know: 

- Wallets: 

To securely store ADA, you'll need a cryptocurrency wallet. Cardano offers its official Daedalus, a full-node wallet allowing the storage and management of your ADA securely. 

- Exchanges: 

You will require a cryptocurrency exchange that supports ADA trading to buy and sell ADA. Some popular exchanges that list ADA crypto include Binance, Coinbase, Kraken, and KuCoin. 

- Staking: 

By staking your ADA, you contribute to the network's security and earn additional ADA as a reward. To stake ADA, you can use the staking functionality provided by wallets like Daedalus and Yoroi or delegate your ADA to a stake pool through supported exchanges. 

- Long-Term Potential and Market Outlook: 

Investing in ADA crypto involves considering its long-term potential and market outlook. Cardano's commitment to scientific research, peer-reviewed development, and focus on scalability and sustainability positions it as a promising blockchain platform. 

## Challenges and future developments 

While Cardano has made significant progress, it still faces challenges and competition in the blockchain. This section will explore some hurdles Cardano needs to overcome and highlight its roadmap and upcoming upgrades. 

## Regulatory Concerns: 

As cryptocurrencies and blockchain technology gain prominence, regulatory bodies formulate policies to address potential risks and ensure consumer protection. 

## Competition from Other Blockchain Platforms: 

Cardano operates in a highly competitive environment, with several other blockchain platforms vying for market share and developer attention - established platforms like Ethereum and contenders like Polkadot and Solana present intense competition. 

## Roadmap and Upcoming Upgrades: 

Cardano has a well-defined roadmap with planned upgrades and developments. The roadmap focuses on key milestones and technical improvements to enhance the platform's capabilities. 

## Research and Scientific Approach: 

Cardano's commitment to scientific research and academic rigor sets it apart from other blockchain platforms. However, this approach can sometimes lead to longer development cycles, as peer-reviewed research and extensive testing to prioritize. 

## Adoption and User Base: 

As with any blockchain platform, widespread adoption is crucial for Cardano's success. Cardano must attract developers, enterprises, and users to build and utilize applications on its platform to drive adoption. 

## ADA crypto conclusion 

ADA crypto has emerged as a powerful and promising asset with the potential to shape the future of decentralized finance (DeFi) and bring about transformative changes across various industries. With its innovative features, commitment to sustainability, and real-world applications, ADA has gained recognition and generated significant interest among investors and enthusiasts. 

What is ADA Crypto? 

Pi crypto is the native cryptocurrency of the [Pi network](https://minepi.com/), a blockchain that enables users to execute mining operations through their smartphones. 

The network has grown in popularity due to the ease with which it allows anyone to mine its native cryptocurrency. It currently boasts more than 33 million users across the globe. 

However, its sudden rise in popularity has led some experts to question its legitimacy, especially because, while it was announced four years ago (2019), it still has yet to launch its blockchain or cryptocurrency. 

Here's the info you need on Pi crypto and its network. 

## How the Pi Network works 

The blockchain uses a consensus mechanism called the Stellar Consensus Protocol (SCP), enabling users to receive rewards for contributing to it. The more a user contributes to it, the more Pi cryptocurrency they mine. 

The SCP is a decentralized, open-source protocol developed by the Stellar Development Foundation, an organization supporting the development and growth of the Stellar Blockchain. 

The protocol is more secure, faster, and designed to be more scalable than other consensus mechanisms like PoW and PoS. 

Pi allows four roles for users: 

- Pioneers (Miners): Users who perform mining activities on Pi. They have to verify they are human and not robots every 24 hours of their mining activity on the blockchain by clicking the lightning button. 

- Contributors (Securers): Users who provide a list of trustworthy users to Pi in exchange for incentives. Contributors belong to the security circle that consists of three to five users. They help secure Pi. 

- Ambassadors (Distributors): Participants who bring new users to Pi using their referral codes. The higher the number of the invitee, the larger the earning rate of an ambassador. They help the blockchain grow and distribute Pi crypto widely. 

- Nodes (Validators): Participants using the Pi node software on their computers. By running a node, validators get an additional boost in their Pi mining process. 

To get the most out of Pi, users must endeavour to hold many roles simultaneously. A Pioneer can become a Contributor by actively mining for Pi crypto for three days. 

A Contributor becomes an Ambassador by inviting new users to Pi using their referral code. To become a validator, one has to simply run the Pi software node on their desktop or personal computer. 

## Founders 

The Pi network was founded by Dr. Nicolas Kokkalis and Dr. Chengdiao Fan, two Stanford Ph.D. holders in Computational engineering and Social sciences. 

Dr. Kokkalis is the head of technology for Pi. He is credited with developing and founding several startups and human-centered technologies before Pi. He is also an instructor of Stanford’s first decentralized application class. 

Dr. Fan is the blockchain’s head of product. Her history can be traced to working as a founding developer for several startups, as well as projects focused on scaling social communications and surfacing untapped social capital for people around the world. 

The two began working on the blockchain in 2018 and released a whitepaper of the Pi Network app on 14 March, 2019, (Pi Day). 

## What is the value of Pi crypto? 

As of writing, Pi cryptocurrency is not listed on any crypto exchange. It is, therefore, currently worthless to anyone in possession of it. There is no historical data on its market performance since it has not yet been launched on any cryptocurrency exchange. 

Its creators are yet to reveal how many of the coins are in public circulation. Its maximum supply cap is also yet to be determined. 

In December 2022, the Pi token was in the headlines after several crypto exchanges, including [Huobi Global](/news/article/huobi-exchange-who-owns-it), BitMart, and XT.com, announced its listing. The news saw the tokens' price surge by 461.3% from $44.03 to $232.97, according to CoinGecko. 

However, Pi Network developers quickly pointed out that they hadn't endorsed any exchange listing and warned users against engaging with any of the exchanges. 

While the coin can’t be traded on any cryptocurrency exchange, according to [Coinmarketcap](https://coinmarketcap.com/currencies/pinetwork/), it is currently worth $26.45 and is ranked the 2,886th largest cryptocurrency, with no market cap, however. 

## How to get Pi crypto 

To start mining Pi coins, one has to first download the Pi Network app on its official site. It is free to download and use the app. 

Once it's on your phone, create a user account. The process will require you to create a username and password and enter your email address or phone number. You will be required to enter an invitation code, which is easily available online. 

You can then start mining Pi coins by tapping the lightning button on the app. You will have to tap the button after every 24 hours to keep mining. 

You can earn more Pi coins by proposing valid security circle connections and inviting people to mine the tokens through referral codes and mining concurrently with them. 

You can also [earn more Pi crypto](https://minepi.com/faqs/how-do-i-mine-more-pi-coins/) by setting and committing to lockup configuration or increasing your current lockup commitment, using apps on the Pi Browser directory, and running a node. 

## Pi Network milestone 

The Pi Network is still a young player in the cryptocurrency market. However, it has quickly managed to attract the attention of many people due to its several advancements. 

In September 2022, it launched Pi Connect, a service that addresses its crypto limitations and offers users a place to access Pi's price information and conversation rate of other cryptocurrencies. 

Pi Connect also allows users to make interoperable trades with other blockchains like [Polygon](/news/article/polygon-crypto), Ethereum, and Binance Smart Chain quickly, affordably, and securely. 

The same month it also announced Pi Bridge, which will provide a bridge between the Pi network and other blockchains, beginning with the Binance Smart Chain. 

## Is Pi crypto a scam? 

The sudden rise in popularity of the Pi coin has made several experts do a deep dive into the project and question its legitimacy. 

A major concern about Pi is its multi-level marketing scheme. The fact that users can earn more Pi coins by recruiting other users is a red flag to many people. It makes the project look like a pyramid scheme. 

Another concern is that users, at the moment, cannot withdraw their mining profits. This is because the network is currently in Enclosed Mainnet. 

According to Pi developers, the blockchain will be updated to Open Mainnet in the future. Then, users will be able to withdraw, sell, and exchange Pi cryptocurrencies. However, there is no clear date when the blockchain will properly launch. 

The cryptocurrency is also not listed on any exchange, which is another red flag for some people. But, this is because its blockchain is currently in Enclosed Mainnet instead of Open Mainnet. 

For its proponents, there is no reason for concern. The fact that the project is free to use debunks the notion that it is a scam. Everyone participating in its mining process has nothing to lose but the time spent mining the coins. 

The coins also have the backing of impressive Stanford minds. That its development team managed to successfully introduce an enclosed mainnet and a Pi wallet in December 2021 proves the project is here to stay. 

## The future of Pi crypto 

Since the cryptocurrency has not been launched, no price predictions are available. The coins also have no price history, making it hard to analyze and predict how they may react to market movements in the future. 

Will the Pi cryptocurrency ever have value? It’s hard to tell at the moment. It might or might not launch. Some people believe it is just a social experiment. However, if it is launched, those already holding it might benefit. 

If history has taught cryptocurrency investors anything, it is that highly anticipated projects, when initially listed in crypto exchanges, experience price surges in the first few weeks. There is a possibility of profiting from the coins, but only if they launch. 

All in all, it is worth being cautious when dealing with such speculative cryptocurrencies. Only time will tell if Pi crypto is a legitimate cryptocurrency or a scam. 

## Conclusion 

On the surface, the Pi Network looks like an impressive crypto project seeking to usher everyone effortlessly into the crypto space. It is accessible to everyone around the globe, it is free to use, faster than any blockchain network, and it uses less energy than conventional energy systems. 

However, considering how long the project has been in the market and how little it has to show, there are a few reasons to be wary about investing in it. It is wise to take your time before jumping into the hype around Pi cryptocurrency. 


Everything you need to know about Pi crypto 

The BONE token assumed market importance when it was announced as the governance token of ShibaSwap, the new decentralized exchange created by the team behind the Shiba Inu token. This close association is perhaps why BONE is known as BONE ShibaSwap token, or simply Shiba Bone in colloquial circles. 

BONE ownership accords voting rights to its holders on the decentralized autonomous organization of ShibaSwap, known as DOGGY DAO. Additionally, BONE ownership can create value for holders if they add liquidity to the ShibaSwap DEX with their tokens or if they stake them. 

Continuous demand for BONE will also come via its use as the gas fee currency for all transactions on the layer-2 network created by the Shiba team. 

It is clear that the concept behind the creation and utility of Shiba Bone has been well thought out. This has created a demand for the token as a traded instrument and a utility token. BONE was introduced in [an earlier article](/news/article/shiba-inu-holders-value-of-bone), where the writer opined that there was value in holding this token in 2023 and beyond. Today, a reappraisal will see if there is still value in being a BONE token holder in 2023. 

## Shiba Bone tokenomics 

The maximum supply of the BONE token is 250 million tokens, of which 229 million constitute the current circulating supply. A mining cap of 230 million tokens was implemented to prevent over mining and subsequent oversupply. The balance of this supply is set aside as rewards for validators and developers maintaining the network's security. 

Price action of the Shiba BONE token continues to follow that of Bitcoin, with dips and rallies closely mirroring that of the BTC/USD pair. BONE is also seeing significant market volume. It traded more than $4.15 million worth of shares in the last 24 hours, and has experienced demand that has pushed it above the $1.05 mark. The BONE token has seen its share price lifted in the 24 hours preceding this piece. However, it remains well off its 30 August 2022 all-time high of $2.39. 

Shiba BONE price performance in 2023 

As the governance token of the blockchain that features Shiba, BONE has attracted a lot of interest from holders of Shiba Inu. Here is an overview of its recent price performance: 

- 24 hours: a gain of 6.82%, allowing it to trade at $1.015 

- 7 Days: down 7.54% 

- 30 days: down 14.15% 

- 60 days: down 46.30% 

The 90-day retracement has seen the Shiba Bone governance token price drop from $0.2759 to $0.07002. The token continues to attract good trading volume, with $6.25m worth of transactions performed in the last 24 hours. 

The recent uptick in the price of BONE is directly linked to the recovery of Bitcoin prices. BTC recently hit the $30K mark but has been unable to move further north. Coming from the previous resistance of $25K, several tokens that tend to move in tandem with BTC also recorded mild gains. 

How BONE token holders can get better value 

BONE token is a governance token for ShibaSwap. As such, BONE token holders will benefit from earning rewards when they provide liquidity to the Shiba network. BONE is an ERC-20 token, so it can be swapped for other ERC-20 tokens. It is also possible for BONE holders to earn interest by staking their tokens on compatible platforms. 

BONE remains unlisted by Binance, Kucoin, or any of the major centralized crypto exchanges. So what exchanges can holders of Shiba's BONE token place their holdings to benefit from the potential value-additions? 

a) Crypto.com. 

b) MexC. 

c) OKX. 

d) Uniswap (v3.0). 

e) Gate.io. 

f) Coinex 

Crypto.com and MEXC are the exchanges with the largest BONE deposits on the exchange wallet, accounting for 12.98% and 7.42% of the [total on-exchange BONE holdings of traders](https://etherscan.io/token/0x9813037ee2218799597d83d4a5b6f3b6778218d9#balances). Indeed, Crypto.com is said to have purchased 2.1 million BONE tokens as recently as March 2023. This coincided with the launch of the Beta version of the Shibarium network. 

OKX is third with 3.41% of holdings. The percentage of BONE tokens warehoused on Gate.io and the ShibaSwap Treasury Wallet are much smaller, as each does not account for up to 1% of holdings. 

## Adding liquidity 

Providing liquidity on ShibaSwap is known as the DIG function. When accessing the ShibaSwap website, click the DIG button -> Add Liquidity. You can pick a combination of two cryptos to use in the process. BONE is an ERC-20 token, so Ethereum is a logical choice of crypto to use in the swap. BONE will be the destination crypto. 

![shibaswap screenshot](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/Screenshot_2023_05_17_at_14_55_15_38928d6965.png)

You may have to use the search bar to call it up by typing the "BONE". Input the number of tokens to be used in providing liquidity, then click "Connect Wallet" to complete the transaction with Metamask, Coinbase Wallet, or WalletConnect. 

## Staking tokens 

Staking on ShibaSwap is known as BURY. You can bury Shiba, Leash, or Bone tokens. When you stake BONE, you receive tBONE as your Woof returns. These are awarded based on the APY displayed on the DEX platform. The lock-up period is currently six months. 

## Conclusion 

The Shiba BONE token is still worth holding in 2023, but it would help to add more value to the HODLer if these tokens are put to work in adding liquidity and being staked. 

shiba bone logo on green image of cryptocurrency

Is the Shiba Bone token still worth holding in 2023? 

Founded in 2017, [Polygon](https://polygon.technology/) (previously known as Matic Network) is a cryptocurrency and Web3 platform designed to facilitate Ethereum use cases. Even though Ethereum was hot back then because it was newer, faster, and stronger than Bitcoin, Polygon still became necessary. Let us understand why as we discuss how Polygon (Matic) news took over the blockchain industry. 

## What is Polygon? 

The [Polygon](/news/article/uquid-web3-integrates-with-polygon) technology essentially is a layer-two blockchain built on top of[ Ethereum](https://ethereum.org/en/)’s layer-one nature. Why was that necessary? As Ethereum became more widely used, users and enthusiasts understood that the platform had started to succumb to the "blockchain trilemma". 

The blockchain trilemma relates to the trade-off between;
1. The potential for decentralization
2. Security
3. Scalability

This is important to understand because we already know that Ethereum became a hot pick. After all, it offered better scalability, better security, and better scope of decentralization than Bitcoin. 

However, sometime between 2016 and 2017, Ethereum understood that it would soon face a challenger if it did not pick one (or max two) areas to specialize in. 

Ethereum committed to better security and better decentralization owing to its founding principles. However, at the same time, Ethereum wanted to find a way to work on scalability, but with a new philosophy, i.e., a second layer. This was when Polygon technology was founded. 

## Recent Polygon MATIC news from around the world 

In recent Polygon MATIC news, the number of whale transactions on the Polygon network increased by more than 200% in April, with several large transfers of MATIC tokens. This surge in activity is noteworthy, as it represents the largest token shift by whales on the network so far this year. 

Could this Polygon MATIC news signal a shift in the grand scheme of things? 

Experts suggest that several factors may have contributed to this increase in whale activity on the Polygon network. For one, Polygon has made significant improvements to its network, including implementing a new consensus algorithm and introducing new tools to help developers build on the network. Additionally, the MATIC token has been gaining popularity among investors, which may be driving up demand for Polygon, hence the news. 

While the implications of this surge in whale activity on the Polygon network are not yet clear, it is an interesting development to watch. 

As always, we will continue to monitor the latest Polygon MATIC news and all trends in blockchain technology and cryptocurrency and share our insights with you. 

## Ethereum's PoS move 

In recent Polygon MATIC news, an article on [BeInCrypto](https://beincrypto.com/polygon-matic-future-ethereum-transition-pos/) suggested that Polygon may be the future of Ethereum as it transitions to a Proof-of-Stake (PoS) consensus algorithm. 

As of now, Polygon has several advantages over Ethereum, including faster transaction times, lower gas fees, and improved scalability. These factors make Polygon an attractive option for developers and users looking for a more efficient and cost-effective alternative to Ethereum. 

Polygon has been making significant strides in terms of adoption and partnerships. For example, several major Decentralized Finance (DeFi) projects have recently migrated to the Polygon network, a sign of growing confidence in its capabilities. Additionally, Polygon has formed partnerships with major players in the blockchain space, such as [Chainlink](https://chain.link/) and [Aave](https://aave.com/). 

As Ethereum prepares to transition to a PoS consensus algorithm, Polygon may become an even more important player in the blockchain ecosystem. Its ability to provide a scalable and cost-effective solution for decentralized applications (DApps) could make it a valuable complement to Ethereum, rather than a direct competitor. 

## Enter the Polygon 

Riding on the back of a strongly integrated community and governing philosophy of "super interoperability", Polygon entered the market for blockchains. Regarded as the "Ethereum's Internet of Blockchains", Polygon vowed to make Ethereum's hefty and clunky operations easier. 

Now that we know that Polygon technology is a scaling solution brought to the mix to make it easier for Ethereum and Ethereum-compatible projects to remain competitive, we can move on to how Polygon does what it does. 

- Polygon’s Software Development Kit (SDK) works exactly as it sounds. For a developer, it is a gold mine because it includes pre-existing guides on developing features that are key for most software being developed on the Polygon mainframe. These include modules for identity recognition, security frameworks, and consensus (for smart contracts). 

- The Polygon (PoS) Chain is the chief Polygon mainframe on the network. This chain is what makes it possible for Ethereum-compatible decentralized applications to run transactions at the speed and reliability with which they run. Moreover, it compiles PoS data for reference. It also runs a consensus algorithm responsible for the maintenance of the entire network. You can call it the Spine. 

- Polygon Plasma Chains are the layer-two support chains within the layer-two scaling chain. These are to Polygon what Polygon is to Ethereum. These chains run in tandem with the mainframe to provide extra cushioning and speed when required. They are also responsible for running transactions that are off-network. This is only made possible because Plasma chains are backed by a Plasma framework that helps them operate independently, as well as in complete cohesion with the spine. 

- Polygon's PoS Bridge is Polygon's two-directional link with the outside world. This bridge allows Polygon to communicate, interact, and operate with other blockchains, like Ethereum. A dedicated bridge is one of the major factors that allow Polygon to boast about its superior interoperability. 

It is true that Polygon is not the only layer-two scaling solution on the market. With time, many blockchains have invested in their own proprietary layer-two blockchains or other specialized ones. Despite rising competition, Polygon has always been able to innovate and reinvent to stay ahead of the curve.

## How is Polygon a scaling solution 

The Ethereum mainnet is bound to struggle with scalability issues despite the fact that it can host more than a thousand transactions per second, simply because the ecosystem is constantly evolving and inducting heavier decentralized applications. 

These scalability issues can be in the form of slow transaction processes and high gas fees (transaction fees). With Polygon, the Ethereum mainnet can take larger breaths of air. The acquisition of ZK-rollups and other optimistic rollups has also severely reduced the amount of time required per transaction. 

Other than scalability, Polygon offers superior interoperability throughout Ethereum and Ethereum-compatible systems through the tools mentioned above. Aside from this level of interoperability, Ethereum makes it really easy for smaller [DApps](https://cointelegraph.com/learn/what-are-dapps-everything-there-is-to-know-about-decentralized-applications) to enter the ecosystem through many tools, such as the development kit mentioned above. 

This has made it easy to believe that the Polygon philosophy is sustainable as it disallows any unjust barriers to entry into the ecosystem. 

Perhaps the greatest indication of Polygon's utility is provided by Polygon's community. The community constantly provides valuable feedback, reviews, and firsthand user perspective, which is vital for any blockchain trying to stay competitive. The community also gets innovative sometimes and offers groundbreaking discoveries within the system, which can help Polygon debug, or even discover a potent strategy. 

## Future Polygon MATIC news? 

In the end, the market gets to decide whether Polygon has innovated enough to stay competitive or not. 

That said, there is no denying that Polygon makes life easier for Ethereum and Ethereum-compatible projects. It is vital to note, however, that as the market makes larger leaps towards better user utility and more diverse use cases, future Polygon MATIC news might see Polygon looking to edge out Ethereum in the long run. 

Polygon, in cahoots with other major platforms on Web3, should now start addressing security concerns. This crusade will go a long way in attracting genuine interest from the segments still sceptical of Web3 because of its seemingly insecure nature. 

If these segments enter the Web3 space in the numbers they could, the blockchain market will enter a phase of genuine enrichment. 

Polygon matic token logo on green background image

Polygon (Matic) making major moves over Ethereum 

The idea of taking humans to live on Mars is no longer just an idea; it is being actively pursued by a number of private stakeholders. The developers of Marscoin seized on the hype to create it as a potential cryptocurrency to be used by the first colonizers on Mars. 

The MARS token was also to serve as a source of funding for research and non-profit projects within the ecosystem to provide the financing for the vast infrastructure required to make it even remotely possible to live on the red planet. 

The project's whitepaper envisions that some people among the first colonizers could volunteer to set up the nodes required to power the use of the blockchain and the MARS token on Mars. These nodes are also to enable Martian-based mining of Mars. Prevention of any Earth-side interference with the token's use on Mars is part of the project's security proposals. 

Considering the massive challenges that must be overcome for the lofty aims of the project to be achieved, is there any future for the MARS token? 

## Marscoin’s journey so far 

Marscoin was designed to have a finite supply of 40 million tokens. As of the last update in May 2021, nearly 36 million MARS tokens have been mined, leaving fewer than 10% of the total supply available for mining. 

The [Marscoin token price](https://coinmarketcap.com/currencies/marscoin/) is $0.07834 as of writing. The present 24-hour trading volume of MARS/USD is $36,298. The MARS/USD price dropped 9.39% in the 24 hours prior to writing. This is part of a larger price dip that commenced after hitting a high of $0.1549 on 3 March, 2023. Before hitting this high, the MARS/USD price action was as low as $0.052 on 10 February. Following the 3 March high, the price dipped once more to the $0.0735 price level on 12 March, and resumed the upward move soon after, hitting $0.12 on 23 March. 

However, it has been all downhill from there, which is not surprising if price action is viewed from the standpoint of technical analysis. 

![marscoin coinmarketcap screenshot](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/Screenshot_2023_05_10_at_16_43_31_7a40bda26e.png)
MARS/USD price chart, Feb - Apr 2023 

## State of Marscoin in 2023 

The price action on the MARS/USD pair reveals two progressively lower tops on 3 and 23 March. These indicate that any further upside moves in the medium term have stalled. The neckline formed by the 12 March low is now in danger. A breakdown here will bring utter grief to MARS token holders, as price action could head to the 10 February low at the very least. 

The combination of low trading volumes, the evolving double top, and the lack of a clear direction for this project are ominous signs for Marscoin. 

The Marscoin team wants the MARS token to be adopted as crypto for a future Mars occupation by humans. If this project had received official endorsement by Elon Musk or at a [blockchain conference](/articles/events/blockchain-fest-singapore-2023), there would be some hope for MARS token holders. But there is nothing in this regard. 

There are also some basic challenges to MARS ever being used on Mars. 

- There is no functional internet on Mars. 

- There is no definable value for anyone to want to use MARS. 

People don't just exchange cryptos because they want to. Those who buy and hold BTC are doing it because they can derive value from it in the exchange process or from outside the blockchain ecosystem. 

Aside from the need to get food and water on Mars (which is not a given as Mars is biologically dead), it is hard to see what people living on Mars would exchange their Marscoin tokens for. Clearly, the US dollar would not even be in the running as a potential currency up there! 

marscoin logo on green image of the mars rover

What's going on with the Marscoin project in 2023? 

[Internet Computer Protocol (ICP)](https://internetcomputer.org/) is a decentralized computing network that aims to reinvent the internet as we know it. It was developed by the DFINITY Foundation, a non-profit organization focused on creating a more secure and open internet. ICP aims to replace the traditional client-server model of the internet with a more efficient and scalable network that runs on a decentralized blockchain. ICP coin is the native cryptocurrency of the network. 

ICP is built on the same principles as blockchain technology, using a consensus mechanism to verify and validate transactions. However, instead of focusing solely on financial transactions like Bitcoin or Ethereum, ICP seeks to enable the creation of a decentralized cloud computing platform. 

This platform is designed to allow developers to create and run applications that can be accessed globally without centralized servers. 

The ICP network comprises a series of interconnected nodes that work together to provide a seamless user experience. When users access an application built on the ICP network, their request is routed to the nearest node. This node then processes the request and returns the result to the user. 

As it is a decentralized network, there is no single point of failure. This makes it much more resilient to cyber-attacks and other forms of disruption. 

ICP has been designed to be highly scalable, with the ability to handle millions of transactions per second. This makes it a promising platform for developers creating highly complex and resource-intensive applications. It could also significantly reduce the cost of running and maintaining large-scale applications, as there is no need for expensive server infrastructure. 

Overall, ICP represents a major leap forward in the evolution of the internet. By leveraging blockchain technology, it has the potential to create a more secure, open, and efficient internet that is accessible to everyone. 

While it is still a relatively new technology, ICP has already attracted a significant amount of attention from developers, investors, and tech enthusiasts alike and is set to have a significant role in shaping the future of the internet. 

## What is ICP coin? 

The native token of the Internet Computer Protocol is the ICP token or ICP coin. ICP coin is the digital currency that powers the Internet Computer Protocol ecosystem and is designed to be used as a utility token to pay for computation and storage on the network. 

ICP coin can be used to interact with smart contracts, deploy canisters (software containers), participate in network governance, and earn staking rewards. The token's fixed maximum supply is 469 million, with a circulating supply of around 124 million ICP coins [as of April 2023](https://www.coingecko.com/en/coins/internet-computer). 

One of the unique features of ICP is its governance model. ICP coin holders have the power to vote on proposals affecting the direction of the network, including upgrades, changes to the governance system, and other significant decisions. 

This gives token holders a say in the future of the network and allows for a more democratic decision-making process. 

ICP is also used as a means of payment within the Internet Computer Protocol ecosystem. Developers and users can pay for computation and storage using ICP coins, which can be earned by staking or purchased on various cryptocurrency exchanges. 

In addition to being used as a utility token, ICP can be used for speculation and investment purposes. Like other cryptocurrencies, the price of ICP can fluctuate based on market demand and other factors, and investors can buy and sell ICP on various exchanges. 

It is safe to say that the ICP coin plays a vital role in the Internet Computer Protocol ecosystem and is essential for the proper functioning of the network. Its governance model and utility as a means of payment make it a unique cryptocurrency in the ever-evolving blockchain space. 

## Who created ICP? 

The Internet Computer Protocol was initiated by Dominic Williams in 2016 and developed by the DFINITY Foundation, a non-profit organization dedicated to the research and development of this technology. 

In May 2021, after years of research, the Internet Computer Protocol was officially launched. The DFINITY Foundation has a team of researchers worldwide, including cryptographers with around 100,000 academic citations and 200 patents. 

## Why is ICP so popular? 

The Internet Computer Protocol's popularity is due to several factors. 

First, the founder has made ambitious claims about its potential to challenge internet giants by offering speed, scalability, and cost savings. Second, it has the backing of high-profile investors like Andreesen Horowitz and Polychain Capital. Third, market analysts have issued bullish price targets, contributing to investor enthusiasm. 

Of course, the broader bullish climate for cryptocurrencies also played a role in the Internet Computer Protocol's early price rise. In 2021, cryptocurrency projects captured the public's imagination and raised significant amounts of money. 

## How does ICP work? 

The current internet is highly centralized, with most popular web applications being hosted on a few data centres owned by big tech companies, making them vulnerable to failures and censorship. 

The Internet Computer Protocol aims to provide an alternative by allowing developers to create, host, and serve applications in a decentralized manner, directly on the public internet. This decentralized approach would also incentivize open-source and transparent software development. 

According to a profile in MIT Technology Review, the Internet Computer Protocol's software would not be tied to a dedicated server in a single location. Instead, it would be distributed across independent data centres around the world. This would make the network more resilient to failures and harder to censor or deplatform applications. 

ICP coin serves as a way to convert cryptocurrency into processing power. Developers pay a fee based on the amount of computing power required for their project. As long as the fee is paid, their website will run on the public internet. 

The Internet Computer Protocol can support any application, including social networks, software applications, and new types not yet created. As a demonstration of its capabilities, the developers of ICP have published open-source code for CanCan, a decentralized alternative to TikTok. 

The Internet Computer Protocol offers a decentralized alternative to the current internet infrastructure, providing greater resilience to failures and censorship while incentivizing open-source and transparent software development. 

## How is ICP coin different from other cryptocurrencies? 

The ICP coin has unique features that set it apart from other cryptocurrencies. 

First and foremost, it enables anyone to create software on the internet and develop applications that circumvent big tech companies using blockchain technology. In addition, it operates on a decentralized network powered by dedicated hardware set up by independent parties. 

Lastly, the cryptocurrency is known for its fast transaction processing speed, significantly quicker than other cryptocurrencies, which may take more than 30 minutes to complete transactions. 

It is important to note that ICP coin is not just a currency, but part of a protocol enabling the creation of decentralized applications. 

## Investing in ICP coin 

ICP is a reliable option for investors due to its strong technology foundation. It's a decentralized cryptocurrency that operates as an ecosystem that can compete with Bitcoin and Ethereum. 

The Internet Computer Protocol links the blockchain and the traditional web. Its Chain Key Technology allows for resource pooling from multiple computers to create a powerful and efficient distributed computing system. It functions as a blockchain that can handle the processing needs of current online services. 

In terms of investment, ICP is a solid choice because it's a fully operational network that offers various services, including DApps and different cryptocurrencies, at launch. Unlike Ethereum, which took years to develop and support multiple use cases, the ICP ecosystem is already equipped with several applications. 

## How can you get ICP coin? 

While the popularity of Internet Computer Protocol coin is soaring, it may not be available for trading on all exchanges. However, two of the biggest exchanges, [Coinbase](/news/article/coinbase-review-uk) and [Binance](/news/article/guide-to-binance-uk), allow users to buy, sell, transfer, convert, and store cryptocurrency. Additionally, the ICP coin can be traded on smaller exchanges like Gate.io and a few others. 

## The future of ICP coin 

The DFINITY team currently consists of approximately 200 members. It plans, over the next five years, to double that number and increase its community. 

According to a recent Medium article outlining the roadmap for ICP, the goal is to become a viable alternative to today's internet within the next decade. In the next 20 years, the Internet Computer Protocol plans to acquire the companies controlling the current internet, including Google, Facebook, Amazon, and Microsoft. 

Despite its ambitious plans, the Internet Computer Protocol has faced criticism due to centralized control by the team behind it. This level of control raises concerns about the autonomy and privacy of internet users. Furthermore, the project's plan to link everything to an internet identity could further threaten online autonomy. 

Regardless of the criticism, the ICP token remains a promising investment in the long run. 

Currently, it may not be widely available on all exchanges, but large platforms like Coinbase and Binance offer it. The Internet Computer Protocol's ability to allow anyone to create software on the internet, run on a decentralized network, and operate at web speed distinguishes it from other cryptocurrencies. 

Overall, the Internet Computer Protocol's future as an alternative to the current internet remains uncertain, but its potential as a cryptocurrency investment is promising. 

With its innovative technology, [decentralized network](/news/article/dns-servers), and fast transaction processing, ICP stands out from other players in the field. While the project has faced some criticism for its centralized nature, the long-term prospects for ICP appear bright, with plans to become a solid alternative to the current internet and potentially disrupt the largest tech companies. 

green image of ICP coin logo on picture of metaverse

ICP coin and all you need to know about it

Cryptocurrencies, one of today’s developing technological advancements borne of [blockchain technology](/news/article/what-is-blockchain), are disrupting the financial space by augmenting traditional paper money and eventually aiming to replace fiat currency. However, newer crypto projects are designed with entirely different use cases, including movies, gaming, and sports. The cryptocurrency Chiliz (CHZ), described as a fan token, is one such digital asset creating a buzz around sports clubs. This guide dissects the Chiliz coin, its background, and how you can invest.   

## The mechanics of fan tokens  

Let's begin by understanding the mechanics of the fan token concept before we dive deep into the details of the Chiliz coin project. 

Fan tokens are blockchain-based crypto assets specifically designed for sports fans and entertainment. Take note, though, that fan tokens are not [non-fungible tokens](/news/article/non-fungible-tokens) (NFTs), meaning they're fungible. As a result, they can be swapped with other sports club-related merchandise and team-specific benefits. Chiliz coin (CHZ) is a utility fan token built on the Chiliz blockchain.    

Sports clubs issue fan tokens to their enthusiasts on digital platforms, which are validated on public blockchains. Fan tokens are the digital pass required to facilitate eligibility to earn membership benefits, vote on club decisions, and win prizes supporting the club you love to support. 

Fans who own the tokens receive advantages like exclusive membership perks and other benefits like merchandise design and voting rights. Interested fans can buy and trade their digital token like other cryptocurrencies – you need CHZ tokens to conduct transactions and purchase tokens on the Chiliz platform. 

## What is the Chiliz coin?  

Chiliz coin (CHZ) is a leading digital asset designed to support sports tokenization and is the native coin for [www.chiliz.com](https://coinmarketcap.com/currencies/chiliz/), the world's pioneer sports fan engagement and rewards platform. 

What's more, it's the trailblazer for sports-based cryptocurrency exchanges that allow fans to trade customized fan tokens besides participating in pools and club-based surveys. The token holders are also entitled to promotions and discounts besides being allowed to test their team and sports knowledge against each other and win prizes such as branded club merchandise. Chiliz coin (CHZ) owners have token rights relative to their holdings.   

For participating clubs, Chiliz helps to solve challenges associated with funding and fan engagement. While the platform enables fans to become fractional shareholders of their favorite sports organizations and participate in the team's regular activities, it also facilitates access to sports and entertainment businesses. 

Participating clubs have a chance to scale their business development plans offering them the potential to prosper and spread their wings globally.  

## How Chiliz works  

While most digital assets are designed to facilitate payments for goods and services or peer-to-peer cash transfers, Chiliz and its entire blockchain ecosystem are explicitly built to support the needs of sports clubs and their fans. 

This makes it a game-changer in the fan token space. The CHZ token operated on the BNB Chain and Ethereum platforms for a while. However, it has since fully transitioned to the Chiliz blockchain, catering predominantly to sports and entertainment organizations and their fans. 

The network utilizes the Proof of Authority (PoA) consensus mechanism. PoA is similar to the proof-of-stake consensus mechanism used by numerous staking platforms. The protocol differs from the other consensus algorithms as its processes rely on a few pre-approved validators. 

Still, this one requires that validators are approved via a governance mechanism before they can begin validating transactions. At the same time, it may be less decentralized if it facilitates the platform to achieve efficiency and scalability.  

The team that created Chiliz.com wished for a world where users directly influence their favorite sports teams via their organized votes. After successfully raising and getting listed on leading cryptocurrency exchanges, they used a significant amount to create the project’s reward and fan engagement app – Socios, in 2019. Several influential sports clubs have since joined the platform with the leading ones, including international ones like Paris Saint-Germain, FC Barcelona, and Atlético de Madrid.  

## What is Socios? 

Socios is an interactive digital platform built as a sidechain on the Chiliz infrastructure that the CHZ cryptocurrency runs on and which runs on the Ethereum blockchain. 

Considered the platform's first consumer-facing product, Socios enables sports enthusiasts to engage with their teams and become eligible to receive exclusive rewards and benefits.   

Participating sports teams also offer branded fan tokens on the Socios app, enabling token holders to participate in numerous decision-making activities. The platform uses smart contracts to store data to honor token holders' votes securely. 

Moreover, users can also trade their tokens bought with the Chiliz coin on the Socios marketplace. The Socios app is also the digital wallet for fans' digital tokens and their CHZ tokens. 

## How to buy Chiliz on Socios 

When you buy a fan token using the Chiliz coin, the app converts them into ERC721 tokens, the standard for non-fungible tokens (NFTs). Afterward, you can still exchange the fan tokens and receive your CHZ tokens back. 

Since the exchange process is only available on the Socios app, it's also the Chiliz exchange to buy Chiliz from. Nonetheless, you can still purchase CHZ from several other platforms, but all the trading is done on the app. Following is the process of buying CHZ on Socios: 

Step 1: Download the Socios app on your smartphone. 

Step 2: Enter your phone number to sign up – You'll receive an activation code from Socios. 

Step 3: Enter the activation code, enter a user name and your email address to finish registration. 

Step 4: Click "Wallet" and then "Chiliz". 

Step 5: Click "Top Up" and enter the money you want to spend to buy CHZ tokens. 

Once you've successfully bought your Chiliz coin, you can convert it into your favorite sports club's fan tokens or hold them in your wallet. US and UK-based token holders who need their CHZ tokens from their Socios apps must send them to another exchange as the app cannot be used in their countries yet. In that case, we will show you how to buy Chiliz tokens from a crypto exchange, using Binance as an example for our tutorial: 

Step 1: Open a free account on Binance 

You can choose between the company's website and the mobile app to sign up for a Binance account. You'll be required to verify your identity with a government-issued ID card and other personal information.  

Step 2: Buy crypto using a credit card or a bank deposit  

Binance offers several options for purchasing cryptocurrency, even though using a credit card would be the quickest. It’s also possible to transact via bank transfer or transfer your local fiat currency to the Binance app.  

Step 3: Check your spot balance  

Once you’ve purchased CHZ on Binance, look for your “spot” wallet, and you’ll see the amount you just bought displayed. After this, you can send CHZ to another entity using the “Withdraw” section. Alternatively, you could still convert your CHZ to your local currency via the trading section.  

## How to use Chiliz (CHZ) tokens 

Different brands, celebrities, and sports organizations have partnered with Chiliz to facilitate engagement initiatives with their fans on the Chiliz platform. 

Assuming you've already followed the steps above and wish to become an active participant, you need to exchange your CHZ with your club's fan tokens and enjoy access to exclusive member experiences, voting polls, or any other content offered by different sports organizations.   

The Chiliz crypto is the official currency within the platform. Its scalability allows for fast, secure, and seamless transactions and access to experiences, plus exclusive merchandise and experiences reserved for fans. The technology behind Chiliz blockchain guarantees users transparency and robust security, ensuring fans a hassle-free way to engage with the brand they love and trust. Moreover, it's also possible to stake your CHZ tokens and earn even more rewards in the form of passive income. 

## How to stake Chiliz 

[Staking](/news/article/what-is-staking-crypto) your Chiliz coin enables you to participate in the platform’s consensus process by locking your crypto token for a specified period. In return, stakers earn CHZ tokens as a reward for depositing their funds since they help to secure the network. The process for staking CHZ involves the following:  

Step 1: Visit the Chiliz staking website - [scoville-governance.chiliz.com. ](https://scoville-governance.chiliz.com/)

Step 2: Link your digital wallet to the platform. 

Step 3: Select a validator to delegate your CHZ to –this will increase the amount of the validator, allowing you to receive a portion of their reward relative to your contribution.   

Step 4: Enter the amount of CHZ tokens you wish to stake and then press "Submit". 

Step 5: Open your crypto wallet and verify the transaction to confirm your stake.  

What is the future of Chiliz coin? 

Chiliz has created a buzz in the sports and entertainment fans space, which is why the company has maintained strategic partnerships with numerous leading sporting brands and organizations globally. 

While there's still some ground remaining for Chiliz to cover – some examples are building a fan token cross-chain bridge, finalizing smart contracts, and the Chiliz Chain Mainnet – the platform has shown every indication of a rewarding future ahead.  

Moreover, the company’s website mentions several significant features in the coming days, from [smart contract ](/news/article/smart-contracts-revolution)asset bridging to stablecoin support, to name a few. Should the platform accomplish any of these plans, it will increase its performance and make it much easier for fans and other stakeholders of the Chiliz ecosystem to thrive.  

## Is it worth investing in Chiliz coin? 

First, you don't necessarily have to invest your Chiliz coin in any fan token. The price performance for CHZ has been impressive so far, meaning it has the potential to grow in the future, thereby making it worthwhile to consider staking. 

The CHZ price movement seems directly dependent on the general market direction and the success of Socios.com. Since the network of Socios is expanding via new partnerships, and more fan tokens are hitting the market, we believe the future looks bright for Chiliz. 

Chiliz coin logo on green background image of cryptocurrency coins

Chiliz Coin: The Crypto Fan Engagement Token 

Helium (HNT) and Data Credits are the two units of exchange that power the Burn-and-Mint Equilibrium token model of The People's Network. 

The People's Network, powered by the Helium Blockchain, constitutes a fundamental change for decentralised wireless infrastructure. 

![Homepage image of HNT website](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/Screenshot_2023_05_05_at_15_31_19_d23412dd42.png)

## What is The People’s Network? 

In a nutshell, The People's Network is the world's largest and quickest-growing Long Range Wide Area Network (LoRaWAN), with hundreds of organisations and thousands of developers already BUIDLing on the network. 

By simply deploying any device in your home or office, you can obtain low-power network coverage that can sustain billions of devices at a time. And it gets better – by connecting your device to a network Hotspot, upon device validation and wireless coverage provision, you also earn a new cryptocurrency called HNT. 

[This crypto mining setup ](/news/article/norway-bitcoin-mining)is without expensive GPU technology and makes for an interesting passive [income opportunity](/news/article/metamining-earning-passive-income-from-bitcoin). HNT mining is done via radio technology, and, currently, there are more than 990k network Hotspots, with over 143M HNT tokens in circulation. 

## Helium (HNT) market cap and price predictions 2030 

As is [advertised on the website](https://www.helium.com/token), there is no pre-mine of the cryptocurrency and its maximum supply is capped at 223M tokens. 

With more than 143M HNT in circulation currently, roughly 64% of the total token supply has been distributed to various eligible parties already. 

According to [Coingecko data](https://www.coingecko.com/en/coins/helium), HNT is priced at $1.77 at the time of writing. The crypto asset has a total market cap of more than $255M and a 24-hour trading volume of over $2.55M. HNT achieved an all-time high of $54.88 on 12 November, 2021, and an all-time low of $0.11 on 18 April, 2022. 

![coingecko price chart for HNT](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/Screenshot_2023_05_05_at_15_31_27_1423dbbc15.png)

Source: [Coingecko ](https://www.coingecko.com/en/coins/helium)

From this chart and historical price data, it is clear that Helium is a particularly volatile cryptocurrency that experienced a massive price dip between late November 2021 and March 2023. 

Of course, this period has coincided with several macroeconomic and crypto industry-related issues. Since falling to a 17-month low of $1.23 on 23 March, 2023, Helium has recovered slightly. That said, what is the true ceiling for the cryptocurrency? 

While it is hard to predict how high HNT could fare in terms of its price, The People's Network is surely gaining traction by the day. Several prominent figures across numerous industries are taking advantage of the network, including Agulus, Airly, Nowi, Digital Matter, and LoneStar Tracking. 

“Our devices monitor water usage and help with leak detection. For us, Helium is essential because the cost of and the barriers to installing a gateway to every single deployment would make those deployments much more difficult.”  -Nowi co-founder Charles Fayal 

These organisations are BUIDLing a rich ecosystem of software and hardware solutions that utilise and support The People's Network. Applications include indoor/outdoor location tracking, the Internet of Things (IoT), smarter agriculture, smart gateways, air quality monitoring, staking provisions, and smart weather stations. 

It is evident that The People’s Network infrastructure is supporting REAL WORLD change, with HNT at the heart of the ecosystem. 

Keeping that in mind, the prospect of [cheap crypto mining](/news/article/marathon-digital-sustainable-mining) (in the form of HNT mining), the cryptocurrency's fixed token supply, historical data, and the potential growth of the crypto industry with time, among several other factors, the crypto asset could achieve a multi-billion dollar market cap in the near future. HNT is likely to hit double-digits again as well. 

[Popular crypto exchanges to buy](/news/article/bitrue-crypto-exchange-reviewed) the cryptocurrency include eToro, Crypto.com Exchange, Gate.io, Kucoin, and Bybit. Currently, Gate.io is the most popular exchange to trade Helium. 

As always, do your own research and follow the project closely to learn of the latest updates. To help you better understand the crypto asset's fundamentals, let us explore it in more detail. 

## Everything you MUST know about Helium (HNT) 

- The distribution of Helium changes over time. This ensures that HNT distribution is aligned with network needs. Let us explore the Year 1 Breakdown to understand the incentives model better: 

- Network data transfer: 30% of the Year 1 supply was awarded for hearing devices and receiving and passing on their data packets to the internet. 

- Hotspot infrastructure: 35% of the Year 1 supply was awarded for creating, witnessing, and participating in Proof-of-Coverage challenges. 

- Helium Systems Inc. and investors: The remaining 35% of the Year 1 supply was assigned to organisations, investors, and founders who will be in charge of blockchain governance. 

For BUIDLing and securing coverage, a large proportion of Helium is allocated to Hotspot owners in the early days. As the network grows in stature, Hotspot owners earn more for relaying device data on the network, while Helium Systems Inc. and investors earn less. 

After 20 years, HNT distributions will no longer undergo change. The below chart summarises the HNT token distribution system over 50 years. 

![helium investors chart](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/Screenshot_2023_05_05_at_15_31_35_13b89202aa.png)

## Network Data Transfer Rewards 

Network Data Transfer Rewards are distributed at a 1:1 ratio to Helium spending and are restricted to 30% of all minted HNT (Year 1). As a bonus for providing early network coverage, the remainder is awarded to the Proof-of-Coverage Rewards Pool as a bonus. 

## Helium (HNT) supply 

With a maximum supply of 223 tokens, all Helium was mined from Genesis, commencing at a rate of 5M tokens each month and then halving after two years. On 1 August, 2021, the net issuance of HNT tokens was halved to 2.5M tokens/month. 

![line graph of HNT vs inflation rate](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/Screenshot_2023_05_05_at_15_31_40_026c4182d8.png)

On 1 August, 2023, the net HNT issuance will again be halved to 1.25M tokens/month. 

## Net Helium (HNT) Emissions 

With the net HNT issuance halving every two years, there needs to be a mechanism to reward Hotspots if there is not enough Helium minted at the time of asking. Net Emissions uses (recycles) 'burned' HNT tokens to reward Hotspots (see the Burn-and-Mint Equilibrium token model we referred to earlier). 

Net Emissions are limited to 1% of current token issuance per epoch. This system oversees Data Credit network usage and adds that amount of tokens (taking into consideration the cap) onto the issuance supply. 

The system ensures deflationary pressure is not extinguished after the cap has been reached while allowing for rewards to exist in years to come. Once the limit is exceeded, the network value should logically increase, satisfying the Burn-and-Mint Equilibrium token model. 

The below chart explains how Net Emissions towards Hotspot rewards increase as HNT minting decreases over 50 years. 

![hnt minting supply chart](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/Screenshot_2023_05_05_at_15_31_47_a3d9f5feff.png)

Considering these factors and features, it is clear to see that HNT is backed by sound fundamentals. Coupled with the promise of the network's underlying technology and all other points of discussion, Helium seems to be a good long-term investment option. For the last time, DYOR before making an investment decision! 

To round off your understanding of Helium and the token model of The People’s Network, let us explore the Data Credits system. 

## Data Credits 

These are used by devices to send data on The People's Network and for blockchain transaction fees (Helium Blockchain). They are created by burning HNT tokens, are tied to a single user, and are non-exchangeable. As such, Data Credits are the ONLY payment accepted to send data over the network. 

The data transfer takes place via Helium LongFi. The price of one Data Credit is fixed in US dollars (1 Data Credit = $0.00001). You can convert your HNT to Data Credits or purchase Data Credits from an HNT owner. 

As soon as Helium is converted to Data Credits, the converted tokens are burned and removed from the circulating supply. 

## Fun facts about Helium (HNT), The People’s Network 

Here are some fun facts about The People’s Network that you MUST know: 

- You can [stake HNT](/news/article/hnt-staking-and-maximizing-returns) to become a validator, secure the network, and earn more of the cryptocurrency! Learn everything [about staking here](https://www.helium.com/stake). 

- The network is built on open-source technology and governed by an open association. This makes for transparent development and governance. 

- With thousands of existing MCUs, chipsets, and sensors, development on the network is streamlined and easy. 

- There are more than 120 projects utilising the network's wireless technology at the moment. 

- The wireless technology is scalable and affordable, as running a single Helium sensor costs mere cents. 

hnt coin on green iamge of cryptocurrency coins

HNT: Why Helium is the New Crypto Mining Haven 

Hedera coin (HBAR) is the native cryptocurrency of the Hedera network, a [third-generation Proof-of-State (PoS) public ledger](/news/article/hedera-hashgraph). The crypto asset serves a dual role: to pay for network services in terms of transaction fees and to protect the network from actors with bad intentions. 

## What is the Hedera network? 

Hedera network is a third-generation, open-source public ledger for builders, creators, enterprises, decentralised finance (DeFi), non-fungible tokens (NFTs), [central bank digital currencies (CBDCs)](/news/article/uae-cbdc-to-complete-first-phase-by-2024), and sustainability. 

In a nutshell, the blockchain powers institutional applications and native Web3 ecosystems for the next generation of the internet. The public network is responsibly governed by the Hedera Governing Council – a transparent, decentralised body of Web3 projects, enterprises, and prestigious universities. 

The governing body includes global stalwarts such as Google, IBM, Wipro, Ubisoft, ServiceNow, Chainlink Labs, and IIT Madras. The Hedera ecosystem standards and codebase are built by the developer community via Hedera Improvement Protocols (HIPs). 

The community comprises Hedera ecosystem and application developers, peripheral organisations, and node operators. These include the likes of LimeChain, Horizon Labs, LG, Meeco, HashPack, Luther Systems, and Six Clovers. Hedera's Ethereum Virtual Machine (EVM) smart contracts are performance-optimised. 

These smart contracts, coupled with consensus service application programming interfaces (APIs) and easy-to-use native tokenisation, enable the developer community to build real-time Web3 ecosystems and applications. 

It is also worth noting that Hedera has a robust codebase, transaction order fairness with consensus timestamps, low and predictable fees, and fast finality. Here are some interesting statistics to back up these claims (all at the time of writing): 

- 1,998,822 mainnet accounts created 

- 47,472,513 transactions in the last 24 hours 

- 64 seconds to consensus finality 

- $0.001 average cost per transaction 

- 000003 average kWh per transaction 

At the heart of the Hedera network is its energy-efficient, dual-role native token, HBAR. Let us dive further into the cryptocurrency's historical data and fairly determine our HBAR price predictions for 2030. 

## Hedera coin historical data and price predictions 2030 

According to[ Coingecko data](https://www.coingecko.com/en/coins/hedera), the current price of HBAR is $0.063. Hedera coin has a total/maximum token supply of 50B tokens, of which over 31B are currently in circulation. The crypto asset’s market cap is nearly $2B, with a 24-hour trading volume of almost $46M. 

In terms of market cap rank, HBAR is placed at 34th. The crypto asset achieved an all-time high of $0.569 on 15 September, 2021, and an all-time low of $0.0098 on 2 January, 2020. 

Owing to several macroeconomic factors, the calamitous downfall of crypto industry giants like FTX, Terra, Three Arrows Capital, and Celsius Network, and an increasingly regulatory-prone environment, several altcoins fared abnormally poorly in the mid-latter half of 2022. 

![downward trending hedera stock chart](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/Screenshot_2023_05_05_at_15_04_37_293d464267.png)

Source: [Coingecko ](https://www.coingecko.com/en/coins/hedera)

Naturally, the Hedera coin was gravely affected by these market conditions. Its value dropped from $0.196 on 21 April, 2022, to $0.0365 on 1 January, 2023. Since then, the cryptocurrency's value has nearly doubled. 

If we factor in all we have learned about the Hedera network so far, keep in mind HBAR's historical data, and consider the growth of the blockchain industry at a CAGR of 85.9% from 2023 to 2030, we can attempt to predict its future price. 

That said, it is impossible to predict the price of any cryptocurrency accurately. Given that HBAR is already a top-50 crypto asset and is worth nearly $2B in terms of its market cap, the crypto asset may touch the highs it achieved in mid-September 2021 in the next few years. 

This, of course, must be supplemented by significant development activity and user interest. We at Moni Talks believe it is quite difficult for HBAR to breach the $1 mark (nearly impossible). You can buy HBAR tokens at leading crypto exchanges like Binance, eToro, Coinbase Exchange, OKX, BingX, and DigiFinex. 

Predictably, Binance is the most popular crypto exchange to trade Hedera coin. Understanding the token's use cases and significance to the network is important before making an investment decision. We insist you do your own research (DYOR) at all times. 

## Everything you NEED to know about Hedera coin 

HBAR serves a dual purpose in the Hedera network. 

As network fuel, developers use Hedera to pay for network services, including logging data, calling smart contracts, [minting cryptocurrencies and NFTs](/news/article/guide-to-minting-nfts-opensea), and transferring the crypto asset. 

For each of these transactions, Hedera is used to pay fees that recompense validator nodes for storage, computing, and bandwidth. 

As a network-protecting agent, Hedera, which is staked to network nodes, has a weighted voting influence on consensus for validating transactions. Weighted voting makes it extremely expensive and difficult for bad actors to harm consensus. 

To put it into perspective, a bad actor would have to own and stake more than one-third of the cryptocurrency’s total supply to obtain centralised authority. 

## Token allocation categories 

As mentioned, the total supply of HBAR tokens is 50B, with more than 31B circulating at the time of writing. You can see from the below figure that 31.33% of the total supply remains unallocated (as is evident from the circulating supply). 

![hedera alllocation categories](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/Screenshot_2023_05_05_at_15_04_44_f8d0b85c7d.png)

Other allocation categories include: 

- 90% to Ecosystem and Open-Source Development 

- 74% to Initial Development Costs and Licensing 

- 26% to Purchase Agreements 

- 77% to Network Governance and Operations 

## The advantages of HBAR 

Here are the advantages of HBAR over first-generation and second-generation cryptocurrencies such as Bitcoin (BTC) and Ethereum (ETH): 

- Outstanding throughput: With a throughput of 10,000 HBAR coin transactions per second (TPS), the Hedera network does not compromise on network stability or security. 

- Incredibly low fees: The cost per HBAR transaction is incredibly low, costing around $0.0001! Compared to the enormous ETH fees we see ‘gracing’ social media nearly every day, HBAR is extremely efficient. 

- Finality in mere seconds: Gone are the days when you had to wait for block confirmations to execute a transaction. HBAR transactions achieve finality in mere seconds (3-5, to be precise). 

Overall, using HBAR ensures you can settle payments and modernise digital experiences seamlessly. Here are some network metrics to back the above information: 

- Transactions: 60,334,562 per day 

- Latency: 5.64 seconds to finality 

- API calls: 634 per HBAR 

## Staking Hedera coin 

Once you have purchased HBAR at a crypto exchange, or any other third-party platform or organisation, you can use your purchased Hedera coin to pay application transaction fees, purchase goods and services, or simply hold on to your tokens with a long-term vision in mind. 

One more option that arises is staking. You can stake your HBAR to a Hedera network node for a maximum APY of 6.5%. This annual reward rate cap was determined by the Hedera Governing Council through the Coin Committee. 

The actual reward rate varies from node to node and depends on the amount of staked tokens. It is worth noting that nodes that are inactive or down will NOT be eligible to earn HBAR rewards. 

Supported wallets include: Blade, HashPack, MyHbarWallet, Uphold, Wallawallet, and Yamgo. 

Supported exchanges include: OKX 

Custodians include: Hex Trust 

[Staking reward distribution](/news/article/hnt-staking-and-maximizing-returns) can be triggered by numerous mechanisms. This [document will help](https://docs.hedera.com/hedera/core-concepts/staking/stake-hbar) you understand each of these mechanisms. 

It is worth noting that the staking feature will be rolled out in four distinct phases, of which Phase I: Technical Availability, Phase II: Ecosystem Development, and Phase III: Staking Rewards Program Launch, have been completed. Click on this link [for an in-depth understanding](https://docs.hedera.com/hedera/core-concepts/staking/staking) of the complete staking program. 

Before investing in HBAR in the short or long-term, ensure that you have performed your due diligence. Visit the [Hedera website](https://hedera.com/) for more details. 

Hedera coin price prediction 2030: HBAR to $1? 

The cryptocurrency market has witnessed the emergence of various blockchain-based solutions that are disrupting traditional industries in recent years. One such project that has gained considerable attention in the crypto sphere is VeChain's VET coin, built on the [VeChain blockchain](https://www.vechain.org/). 

The VeChain blockchain was launched in 2017, primarily focusing on supply chain management. Over the years, the project's ecosystem has evolved, and it now provides a platform for various businesses to nurture sustainability. 

Here, we will delve into the role of VET coin in the VeChain ecosystem, how it works, and the market outlook. 

## Blockchain and sustainability  

Blockchain technology can have a significant impact on sustainability efforts in various industries. Its decentralised and transparent nature enables more efficient tracking of resources, supply chains, and carbon emissions. Accordingly, an increasing number of projects are introducing blockchain solutions to achieve sustainability goals. 

Blockchain systems can contribute to sustainability in many ways. The most common application is tracing carbon credits, which can help businesses reduce their carbon footprints. Another way is to trace the journey of sustainable products. In addition, blockchains can improve waste management systems and supply chains and even facilitate trading renewable energy. 

Now, let's talk about what VeChain is and how it is working to foster sustainability. 

## What is the Vechain blockchain? 

[Cryptocurrencies often raise environmental concerns](/news/article/environmental-cryptocurrency-concerns), but VeChain is here to prove otherwise. It's a trustworthy distributed platform that offers businesses a solution for ensuring an accountable data flow and providing high-speed transactions. The blockchain was released in 2017 and has since presented three whitepapers. 

According to its first whitepaper, the platform focused on providing supply chain management solutions to businesses. However, the recently presented whitepaper suggests that the platform is evolving into an L1 blockchain that will offer environment-preserving solutions. 

VeChain is a diverse network that has introduced two native tokens: VeChainThor (VTHO) and VeChain Tokens. The first is used for gas or payment transfers, while the second is the utility token used to transfer value. The platform uses a two-token model to mitigate volatility and maintain stability in its ecosystem. 

Leveraging VeChain's environment, businesses can develop decentralised apps (DApps) according to their needs. They can use the blockchain as a platform to store and track service or product information securely. Additionally, it allows customers to track the authenticity of sustainable products. 

## How is Vechain building the blockchain biosphere? 

Vechain is a distributed ledger that is constantly evolving to help enterprises adopt blockchain technology for sustainability. The blockchain offers flexibility, a sustainable economic model, and transparent governance to maintain efficiency and transparency.  

The blockchain introduces a two-token model, which makes it dependable. Besides, there is a Proof of Authority (PoA) consensus method for the blockchain's governance. This consensus mechanism has a set number of verifiers, which improves its energy consumption. It makes the network highly secure and speeds up transactions.  

In late 2022, the network also went through an update that upgraded the PoA to PoA 2.0. There were three main additions to the network, including absolute finality, reduction in risks of disruption, and enhanced efficiency for faster transactions. 

The network's layer 1 blockchain is VechainThor which allows enterprise adoption. It provides an energy-efficient environment, open source, and user-friendly. The chain, along with the PoA 2.0. makes the network scalable, secure, and eco-friendly.  

In addition, the network is designed in a way that it can integrate all Internet of Things (IoT) technologies. It makes the Vechain ecosystem capable of resolving issues like storing large amounts of data. This power allows enterprises from various domains like medical, energy, supply chain, finance, and others to move towards digitised ecosystems.  

Vechain can provide a backbone for enterprises looking to build sustainable products. With its trustless smart contract and the ability to incorporate IoT, Vechain can help enterprises blend the physical world with the digital one, a phenomenon known as "phygital". 

## Features of Vechain 

Here are some of the prominent features of the Vechain network: 

1. Integration with the IoT 

A prominent feature of the Vechain blockchain is its ability to integrate with IoT devices. It can help collect and track data from various devices using IoT technology. 

This power of the VET blockchain makes it suitable for a range of domains, especially healthcare and supply chains. It can help integrate smart contract technology into devices and bring trustless automation. Moreover, you can create an incentivised ecosystem that streamlines all the devices within a network. 

2. An economy based on a dual-token model 

The Vechain network also introduces a dual token ecosystem that depends on VET and VTHO coins. This type of economy is introduced to make the network stable and tackle volatility. Besides, it also allows the network to cut down its energy consumption. 

The two tokens have specific roles in the ecosystem: the VET token covers the utility requirements, and the VechainTHOR token is used for gas costs. This type of model is more efficient than most prevalent single-token models. 

3. PoA consensus mechanism 

The platform uses the PoA consensus mechanism to secure the network and to add new blocks to the chain. It is a version of the Proof of Stake (PoS) mechanism that secures the system by staking tokens. However, the difference here is that PoA has designated verifiers in the network, and they can use their identity to validate transactions. 

Vechain is among the most popular blockchains that use the PoA consensus method. Other noteworthy blockchains that use the method are [Bitgert](/news/article/bitgert-price-prediction), Xodex, and Palm Network. 

4. Supports sustainability 

Another unique feature of the Vechain network is that it is designed to support sustainable projects. Although it started as a platform for supply chain management, it has evolved into a complete ecosystem that can support environment-friendly businesses. 

The platform can work as a hub for different use cases of blockchain tech for sustainability. It is working in alliance with numerous enterprises to develop a biosphere. 

5. Energy efficient  

The Vechain network is one of the most eco-friendly projects in the crypto market. It also makes claims that it is the most energy-efficient blockchain, consuming only 0.04% of the energy other blockchains consume. 

According to the 2022 carbon footprint data Vechain shared, the blockchain consumed 4.46 t CO2e/year. This amounts to only the carbon emissions of a gasoline-powered vehicle. That's why the blockchain is not only fast and scalable, but also remains environmentally friendly. 

## VET coin price and tokenomics 

The Vechain network has introduced two distinct coins, but in this article, we will solely focus on the VET coin. 

VET is the utility token that powers the platform's ecosystem and pays for transactions on the network. 

The VET tokenomics aim to create a self-sustaining ecosystem where VET holders are incentivised to hold and use VET in the Vechain ecosystem. VTHO generation incentivises VET holders to use the network. This model ensures the long-term viability and growth of the Vechain platform.  

Currently, the total supply of VET coins is capped at 86,712,634,466 tokens, with approximately 64% of the total supply in circulation. The coin holds the 38th rank among all cryptocurrencies, with a market cap of $1,656,457,551 and a trading volume of $48,911,786 in the past 24 hours. 

Moreover, as per [CoinMarketCap](https://coinmarketcap.com/currencies/vechain/), the VET coin currently trades at around $0.0228. At time of writing, the coin's price is down by around 2%. 

In 2021, the VET coin recorded its all-time highest value at around $0.2782. Since then, the token's price has dropped by 91.84%. However, the coin's lowest value was recorded at $0.001678 in 2020. 

## VET coin price prediction 

The current trend indicates that the 50-day SMA (Simple Moving Average) for the VET coin is at $0.0214, while the 200-day SMA is $0.0220. Additionally, the coin’s 14-day RSI (Relative Strength Index) stands at 42.46. Based on this data, VET is expected to maintain a similar price in the near future.  

However, according to price predictions from [CoinCodex.com](https://coincodex.com/crypto/vechain-token/price-prediction/), bearish sentiments are expected for the next five days. While the market's fear and greed index indicates neutrality, a price drop of more than 5% may be anticipated. The asset’s volatility is expected to be 4.59% for the next 30 days. 

Disclaimer: Please note that cryptocurrency price predictions are not certain and should be cautiously taken. These predictions are based on various market factors and should not be considered investment advice. 

## Long-term price predictions for VET Coin 

Let’s take a look at the price forecast for the years 2023, 2025, and 2030.  

Price predictions from PricePrediction.net  

According to [PricePrediction.net](https://priceprediction.net/en/price-prediction/vechain)’s Vechain price prediction, the VET coin price in 2023 is expected to average at $0.031. The highest predicted value for the token is $0.036, and the lowest is expected to be $0.030.  

Looking ahead to Vechain’s price prediction for 2025, the coin’s price is expected to grow steadily. The prediction suggests that the VET coin will average around $0.064 and may reach a maximum value of $0.078. The coin’s minimum price in 2025 is expected to be $0.062.  

PricePrediction.net’s data also shows predictions until 2030. The prediction indicates that the coin will eliminate a decimal in 2027 and may reach up to $0.41 by 2030. The price may also hit the $0.5 mark, while the lowest will be $0.40. 

### Price predictions from DigitalCoinPrice   

The price predictions from DigitalCoinPrice are similar to those of PricePrediction.net, with a forecast of sluggish progress for the VET coin in the coming years. 

The token's price is expected to reach a maximum of $0.048 in 2023, with an average trading price of $0.0461. 

Looking ahead to 2025, the Vechain price prediction suggests that the token will be valued at around $0.078, with a maximum value of $0.0794 and a minimum value of approximately $0.064. Additionally, 2030 predictions indicate that the VET coin will be floating in the market at around $0.23. 

It is important to understand the factors involved in making these predictions. [Price predictions ](/news/article/cryptocurrency-news-predictions)are usually based on technical analysis, which involves studying a particular cryptocurrency's historical price movement, trading volume, and market trends. Other factors affecting the price include [global economic](/news/article/cryptocurrency-and-the-economy) and political events, [government regulations](/news/article/crypto-regulations), and market sentiments. Investors should remember that price predictions are speculative and not guaranteed. You should always conduct your research and analysis before making investment decisions. 

## Where can I buy the Vechain (VET) coin? 

VET and VTHO coins are available on most popular crypto exchanges, including Huobi Global, Binance, and several other notable exchanges. You have numerous options for trading VET coins, as it’s available in trading pairs with cryptocurrencies, fiat currencies, or stablecoins. 

## Is VET coin a good investment? 

As with any other crypto project, the [value of VET coin](/news/article/vechain-news) will depend on how the network progresses in the coming years. The technology and vision behind the Vechain network are novel and have the potential to transform industries. Furthermore, it can support the efforts of projects working to preserve the environment. 

The network offers various use cases in healthcare, IT, supply chain, and other domains. It currently collaborates with top companies such as [PwC](https://www.pwc.com.pk/en/), [BMW](https://www.bmw.com/en/index.html), [Walmart China](https://corporate.walmart.com/our-story/our-business/international/walmart-china), [Haire](https://www.haier.com/pk/), [DHL](https://www.dhl.com/global-en/home.html?locale=true), and many others. VET’s price may rise if its ecosystem continues to attract other large enterprises and successfully creates a blockchain biosphere. 

However, if you're looking to invest for immediate returns, it may not be the ideal choice. If you believe in the project's sustainability vision, then it would be prudent to consider it for long-term investments. 

In any case, you should conduct your own research by tracking market trends and conducting a thorough analysis of the project. 

All you need to know about Vechain’s VET coin 

Crypto Coin News

Crypto coins or tokens are representations of values stored on the blockchain. Cryptocurrencies, literally cryptographic currencies, are simply the digital, blockchain-based equivalent of our normal or 'fiat' currencies. The most famous (and first) crypto coin is Bitcoin. 

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