Interest in AI crypto has gained pace due to the extensive use of artificial intelligence chatbots such as ChatGPT. 

Launched in November 2022, the extensive use of ChatGPT, a tool developed by OpenAI, has contributed to a spotlight being shone on AI-backed cryptocurrencies. 

In the markets, AI crypto has now joined established coins, Metaverse tokens, memecoins, and all the other digital assets. 

It is difficult to navigate crypto price tracking portals such as Coinranking, TradingView, CoinMarketCap, and CoinGecko without coming across AI tokens. 

While the cryptocurrency market [has struggled ](/news/article/is-crypto-dead)for much of the past year, the potential of AI, expected to reach into sectors including information technology, healthcare, marketing, finance, transport, customer service, and entertainment, has seen tokens supported by companies under the AI umbrella perform above expectations. 

Let us examine AI [crypto](/news/article/is-crypto-regulated-across-the-globe) and its potential impact on the investment portfolios of millions of traders across the globe. 

## AI crypto: What is it? 

AI crypto comprises both coins and tokens. You may have come across these terms on crypto portals and seen them being used interchangeably. In fact, [coins and tokens](/news/article/token-vs-coin) refer to two different things.  

Coins are native to a single blockchain. This means that aside from performing utility services on that chain, it cannot function on any other chain due to a lack of interoperability. 

Tokens are deployed on existing blockchains and rely primarily on the possibilities of smart contract chains to function. 

AI crypto involves both coins and tokens developed by groups of people to fuel AI-based services, applications, and projects such as AI-driven DAOs (decentralized autonomous organizations), AI-powered trading algorithms, and decentralized AI marketplaces. 

AI coins normally play the basic role of a transactional currency, where they are used as payments, while AI tokens do this as well as conferring governance rights to the virtual asset's holders. 

## The impact of AI cryptos in the market  

As of 14:00 UTC on 9 August, 2023, cryptocurrencies under the artificial intelligence banner commanded a market capitalization of approximately $4.7 billion.  

While many of the mainstream digital currencies such as Cardano (ADA), Litecoin (LTC), Solana (SOL), Polygon (MATIC), and others have failed to bring multiple percentage gains to traders in the first eight months of the year, many AI coins and tokens have performed extremely well.  

Among them is AGIX, the novel token of SingularityNET, a platform powered by blockchain technology that allows people to not only create and share but also monetize services related to the booming AI industry. 

AGIX has brought more than 300% gains year-to-date (YTD). It was among the best-performing coins in the first two months of the year (January to February), when it soared by 1,357% in 39 days.  

AGIX opened on 1 January at $0.04556 and reached a year high of [$0.6637](https://twitter.com/SingularityNET/status/1622883083329458176) on 8 February on the back of a partnership with Cardano that enhanced applications for developers on the protocol.     

Another is FET, the token behind Fetch.ai, a platform that functions as an AI laboratory building permissionless, decentralized, and open machine learning networks within the decentralized finance economy. 

FET has spiked by 120% YTD and token holders from the opening day ($0.09166) of the year to 8 February saw a 555% increment in their investment capital when it reached a peak of [$0.6004](https://coinmarketcap.com/currencies/fetch/).

One of the less-popular but top-performing tokens so far has been KAT, the cryptocurrency behind Kambria, an open platform for augmented reality (AR), the Internet of Things (IoT), virtual reality (VR), blockchain, robotics, and artificial intelligence. 

[KAT](https://coinmarketcap.com/currencies/kambria/) investors who bought and sold the token around February, during the AI token rally, came away with almost 2,000% gains in less than two months. 

Other digital assets that have made substantial contributions to the category’s impressive market capitalization include but are not limited to, Akash Network (AKASH), Image Generator Token (IMGNAI), CryptoGPT (GPT), and VAIOT with double-percentage gains in 2023.   

## Should you invest in any AI crypto?  

Yes, AI cryptos are assets you should consider adding to your investment portfolios.  

While AI has been trending on social media platforms over the past eight months due to its positive and negative sides, the foray of companies such as IBM and Slack into using it to improve their services gives credence to the technology. 

The launch of AI tools has improved the stock prices of companies such as Meta Platforms Inc. (META), Apple (AAPL), and Microsoft (MSFT).  

In the same way, the launch of AI products by companies under DeFi support will reflect positively on the values of AI coins and tokens. 

Is AI crypto the new millionaire maker? 

Tokenization is becoming a star-spangled technology by offering an innovative and versatile solution to data security and digital finance. This article provides an overview of sprint tokenization, explaining how this cutting-edge technology has transformed how organizations manage and secure digital transactions.   

## What is tokenization? 

[Tokenization](https://www.gartner.com/en/information-technology/glossary/tokenization#:~:text=Tokenization%20refers%20to%20a%20process,requires%20strong%20protections%20around%20it.) refers to scrambling sensitive data such as personal information or credit card numbers and replacing them with unique, nondescript symbols called tokens. 

The tokens will retain the sensitive original data but won't compromise security. Should cyber criminals manage to create a data breach, they can't use the tokens to access a user's sensitive data as they don't have any intrinsic value. 

Tokenization diminishes the risk of data theft, making the technology a secure way to safeguard digital transactions.     

## Sprint tokenization overview  

First coined in the early 2000s, the term sprint tokenization became famous in 2010 when more organizations, especially credit card processors, started using the technology to secure the confidentiality and privacy of online transactions. 

The technology uses a specific tokenization method that employs a fast, lightweight process to generate tokens during a transaction. 

The procedure enhances security while reducing the impact on the system's performance and user experience. For example, when it's used for online shopping, the system keeps your credit card information on your account, so you don't have to enter the account details every time you use it. 

Besides facilitating a quicker transaction, this tokenization process eliminates the possibility of anyone stealing your credit card information. 

The primary features of sprint tokenization include the following:     

Speed: It uses a simplified procedure to create tokens fast to ensure the tokenization doesn't slow down transaction processing times. This becomes especially advantageous for high-volume transactions like mobile payments and e-commerce.   

Scalability: Sprint tokenization is intended to handle large-scale transactions. It is ideal for enterprises with massive data sets or complex transactions as it can quickly adapt to changing business needs occasioned by growth.   

Flexibility: The process supports different types of data, including personally identifiable information, payment card information, and other sensitive data, meaning businesses can use it for various transactions. 

## Potential applications of tokenization 

Sprint [tokenization](/news/article/tokenization-importance-explained) can modernize different modern enterprises by offering military-grade security measures, especially in payment processing. 

Merchants who apply the technology can safeguard credit and debit card data, minimizing the risk of data breaches or fraud from online transactions. The system could also apply in the healthcare industry, where sensitive patient data like insurance information and medical records are supposed to comply with data protection rules to protect patient privacy.    

E-commerce retailers could also implement sprint tokenization at checkouts to protect customer information, boosting client confidence. 

As mobile payments become the order of the day, the process will play a significant role in securing mobile wallets, providing an added layer of security and the user's convenience. 

With such a wide array of potential use cases, sprint tokenization has a future in any industry where data security and privacy are essential for both business and customer.    

## Benefits of the cutting-edge technology 

There are numerous benefits associated with this cutting-edge business solution, including the following: 

Heightened security: By replacing sensitive payment details with a token, the technology makes it impossible for fraudsters to intercept and abuse data. The procedure facilitates fast and seamless transactions since the tokens are generated in real-time.    

Streamlined compliance: Businesses using this kind of tokenization can easily comply with government security standards that require complying with the protection of payment data standards.  

Value-added customer experience: By providing a secure and convenient payment experience, this technology promotes consumer loyalty and satisfaction. 

## Tokenization vs. encryption 

Both tokenization and encryption are integral methods of securing sensitive data. While they both protect stored data or when it's in transit, they have differences regarding the flexibility of their implementation and the degree of security they provide. 

Note that the encryption process is reversible between the two, especially if you know its computation, as you can return to its original code structure. 

Moreover, encryption is more expensive than tokenization, as encryption consists of grounded information when a card is used. However, this modern tokenization procedure offers more robust protection when a card isn't present. 

If your organization is in the business of safeguarding important data or sensitive customer details, experts recommend combining the best features of encryption and tokenization. 



What is sprint tokenization and why does it matter? 

Many AI crypto projects have tantalised investors, but are they any good? 

Here we take a look at the top five, as defined by [market capitalisation](/news/article/what-is-market-cap-cryptocurrency). 

From newcomers to established names, these are projects that harness the potential of artificial intelligence in the cryptocurrency world, enhancing financial transactions, optimising supply chains, and reshaping how we interact with technology. 

Whether you are an established [crypto trader ](/news/article/crypto-trader-2022)or an inquisitive newcomer, this list is a starting point for your exploration of AI crypto projects. But be warned, there are no guarantees of successful investing in cryptocurrencies, so do your own research before risking your money, and only invest what you can afford to lose. 

## AI crypto project marketcap 

Our list features the leading AI crypto projects according to marketcap, as reported by [CoinMarketCap](https://coinmarketcap.com/view/ai-big-data/). 

Marketcap doesn’t mean much on its own. There are other critical factors to consider, including: 

- Understanding the core technology underpinning the AI crypto project, appraising the distinctiveness and practicability of the harnessed AI algorithms, and real-world application. 
- Examination of the project's personnel, focusing on researchers and developers with a track record in AI and blockchain expertise. 
- A critical analysis of the problem targeted by the AI crypto project. This involves gauging the possible scope and demand for the proposed solutions in the marketplace. 
- Assessment of the intrinsic utility and operational facets of the token within the ecosystem of the initiative. The token design should seamlessly align with the project's aspirations and confer added value to its user base. 
- Exploring the initiative's community and its resonance in the broader user spectrum. Robustly engaged communities often function as a magnet, drawing in support and augmenting user participation. 
- Prioritising projects subjected to external security audits, a hallmark of the integrity of smart contracts and codebase, bolstering resilience against vulnerabilities. 
- An understanding of the regulatory framework within which the AI crypto venture operates. Adherence to statutory stipulations is pivotal for sustainable success. 
- Sufficient trading volume and liquidity are essential requisites to facilitate seamless transactions, counteract price manipulation, and cultivate a thriving marketplace. 
- Identification of competitors, juxtaposed against the initiative's distinctive value proposition, as well as a keen eye for strategic alliances and affiliations that propel growth. 

## Top AI crypto projects 

### The Graph ([GRT](https://thegraph.com/))
Envisioned as a decentralised protocol for indexing and querying blockchain data, The Graph furnishes developers with a platform to craft and disseminate open APIs termed 'subgraphs,' thereby enabling universal access to blockchain data. It is relatively new, but has already been embraced by distinguished blockchain ventures like Ethereum, NEAR, and Solana. As blockchain assimilation continues its ascendancy, The Graph stands poised to develop as a formidable force within the decentralised data infrastructure sphere. The native cryptocurrency, GRT, assumes the role of incentivising node operators to index and facilitate data retrieval. 

### Injective (INJ)
Distinctly calibrated to serve as a foundation for DeFi (Decentralised Finance) applications, Injective Protocol has a plethora of features that equip it for this purpose, boasting interoperability, scalability, and security. INJ functions as the native token of the [Injective Protocol](https://injective.com/), a blockchain tailored for DeFi applications, rendering them open and interoperable. Spanning exchanges such as Binance, Huobi, and OKEx, the INJ token secures its standing in the crypto sphere. 

Key Takeaways: 

- Encompasses a diverse array of DeFi applications, spanning decentralised exchanges, margin trading platforms, and lending interfaces. 
- Presents a cost-efficient fee structure, bolstering accessibility to DeFi applications.
- Imbued with the robustness of the Tendermint PoS consensus mechanism, a testament to its security. 

If you are interested in using DeFi applications, then the Injective Protocol is a good option. It is a secure, scalable, and interoperable platform that offers a wide range of DeFi applications.


### Render Token (RNDR)

At present anchored on the Polygon blockchain, the Render Token may be subject to a network migration to Solana, an undertaking poised to enhance the efficiency of the [Render Network.](https://rendernetwork.com/) 

This platform nurtures the production of animation, motion graphics, and visual effects through a collaborative GPU rendering infrastructure, which channels idle GPU resources into rendering tasks. 

Functioning as an ERC-20 token, RNDR occupies the role of utility token, servicing payment obligations for rendering services on the Render Network. The engagement with RNDR tokens for task remuneration furnishes a mechanism wherein users stipulate their willingness to expend RNDR tokens for a given task, matched with a provider amenable to undertaking the task at the specified cost. 

### SingularityNET (AGIX)
A decentralised platform and global AI marketplace that enables anyone to effortlessly “build, share, and monetise” AI services. 

Native token AGIX token is used to pay for AI services and AI products on this marketplace, as well as to participate in the governance of the platform. The AGIX token is a valuable asset for anyone who is interested in the future of AI. It is a token that has the potential to appreciate in value as the [SingularityNET](https://singularitynet.io/) platform grows and develops. 

### Oasis Network (ROSE)
A blockchain platform built for DeFi, NFTs, and confidential computing which intends to preserve privacy. Its native token is ROSE. 


Key features include: 

- Uses a variety of privacy-preserving technologies, such as zk-SNARKs, to allow users to transact and interact with DApps without revealing their personal data. 
- Designed to be scalable, with the ability to process thousands of transactions per second. This makes it suitable for DeFi applications that require high throughput. 
- Designed to be efficient, with low gas fees. This makes it affordable for users to participate in DeFi applications. 
- Secured by a Proof-of-Stake consensus mechanism. This assists in making it resistant to attack and ensures that the network is fair and decentralised. 

The [Oasis Network](https://oasisprotocol.org/) is still under development, but it has the potential to be a major player in the DeFi space. Its privacy-preserving features make it ideal for applications that require sensitive data, such as healthcare and financial services. 

Can AI crypto projects make you rich? 

Technology is pivotal in driving innovation, economic growth, and social development in today's rapidly evolving world. However, the industry is still grappling with a significant gender gap that limits the full potential of its workforce. According to recent studies, women comprise only 25% of the tech workforce, and this disparity is even more pronounced in leadership roles. This is where Women in Tech steps in – an international non-profit organization dedicated to bridging the gender gap in STEAM (Science, Technology, Engineering, Arts, and Mathematics) fields. [Women in Tech](https://women-in-tech.org/) has been at the forefront of empowering women and girls by promoting education, fostering business opportunities, advocating for digital inclusion, and championing gender equality. Through its various initiatives, it continues to unleash the power of diversity and inclusion, leading to a more innovative, competitive, and prosperous technology sector. ## Promoting empowerment through education Education plays a crucial role in empowering individuals, and Women in Tech is at the forefront of promoting empowerment through education for girls and women worldwide. With a clear focus on Sustainable Development [Goal 5b](https://stats.unctad.org/Dgff2016/people/goal5/target_5_b.html#:~:text=Target%205.-,b%3A%20Women%20empowerment%20through%20ICT,promote%20the%20empowerment%20of%20women.), which emphasizes harnessing technologies, Women in Tech recognizes the power of education to transform lives and create opportunities for women in STEAM fields. This global movement is working tirelessly to empower five million women and girls by 2030 by providing access to quality education and fostering a supportive learning environment. One of the key pillars of Women in Tech's mission is to promote girls' and women's empowerment through education. It firmly believes education is the foundation for personal growth and professional success. Offering various educational programs equips women with the knowledge, skills, and resources required to thrive in STEAM disciplines. From skilling programs to mentorship initiatives, these educational opportunities enable women to develop their talents, overcome barriers, and realize their full potential. ## Fostering business opportunities Women in Tech works to foster business opportunities for women, particularly in STEAM fields, through five key strategies: - Networking and Collaboration: Providing a platform for women to connect and build professional networks through events, conferences, and chapters worldwide. - Mentorship Programs: Offer mentorship programs that pair experienced professionals with aspiring women entrepreneurs for guidance and support. - Business Training and Education: Organizing skilling programs, workshops, and educational initiatives to empower women with necessary business skills. - Championing Gender Equity and Female Empowerment: Elevating the significance of diversity and inclusion in business and technology by emphasizing the vital role of women and promoting equal opportunities. - Global Summit and Awards: Hosting a Global Summit for knowledge-sharing, networking, and organizing regional awards ceremonies to celebrate women's achievements. By focusing on inclusion, diversity, and equity in STEAM, the organization aims to create an environment that nurtures and promotes business opportunities for women. ## Advocacy for gender equality The organization is dedicated to championing gender equality in [STEAM](https://www.techtarget.com/whatis/definition/STEAM-science-technology-engineering-arts-and-mathematics) by cultivating inclusive environments and advocating for equal opportunities. Focusing on Sustainable Development Goal 5b, it supports the empowerment of girls and women worldwide through four core pillars: Education, Business, Digital Inclusion, and Advocacy. Its initiatives aim to raise awareness about the gender gap, challenge stereotypes, and dismantle gender-based discrimination in the tech industry. The organization's efforts include a [Global Summit](https://womenintech-summit.com/), which assembles leaders and advocates to discuss gender equality challenges and foster collaborations. Through global chapters and partnerships, it establishes a support network for women in technology, connecting them with mentors and offering skill-building programs. The organization proactively champions [gender equality](/news/article/world-of-woman-nft) through various initiatives, events, and collaborations. #Advocacy for gender equality The organization is dedicated to championing gender equality in STEAM by cultivating inclusive environments and advocating for equal opportunities. Focusing on Sustainable Development Goal 5b, it supports the empowerment of girls and women worldwide through four core pillars: Education, Business, Digital Inclusion, and Advocacy. Its initiatives aim to raise awareness about the gender gap, challenge stereotypes, and dismantle gender-based discrimination in the tech industry. The organization's efforts include a Global Summit, which assembles leaders and advocates to discuss gender equality challenges and foster collaborations. Through global chapters and partnerships, it establishes a support network for women in technology, connecting them with mentors and offering skill-building programs. The organization proactively champions gender equality through various initiatives, events, and collaborations. 

[Women in Tech](https://women-in-tech.org/) has been at the forefront of empowering women and girls by promoting education, fostering business opportunities, advocating for digital inclusion, and championing gender equality. Through its various initiatives, it continues to unleash the power of diversity and inclusion, leading to a more innovative, competitive, and prosperous technology sector. 

## Promoting empowerment through education 

Education plays a crucial role in empowering individuals, and Women in Tech is at the forefront of promoting empowerment through education for girls and women worldwide. With a clear focus on Sustainable Development [Goal 5b](https://stats.unctad.org/Dgff2016/people/goal5/target_5_b.html#:~:text=Target%205.-,b%3A%20Women%20empowerment%20through%20ICT,promote%20the%20empowerment%20of%20women.), which emphasizes harnessing technologies, Women in Tech recognizes the power of education to transform lives and create opportunities for women in STEAM fields. 

This global movement is working tirelessly to empower five million women and girls by 2030 by providing access to quality education and fostering a supportive learning environment. 

One of the key pillars of Women in Tech's mission is to promote girls' and women's empowerment through education. It firmly believes education is the foundation for personal growth and professional success. Offering various educational programs equips women with the knowledge, skills, and resources required to thrive in STEAM disciplines. From skilling programs to mentorship initiatives, these educational opportunities enable women to develop their talents, overcome barriers, and realize their full potential. 

## Fostering business opportunities 

Women in Tech works to foster business opportunities for women, particularly in STEAM fields, through five key strategies: 

- Networking and Collaboration: Providing a platform for women to connect and build professional networks through events, conferences, and chapters worldwide. 

- Mentorship Programs: Offer mentorship programs that pair experienced professionals with aspiring women entrepreneurs for guidance and support. 

- Business Training and Education: Organizing skilling programs, workshops, and educational initiatives to empower women with necessary business skills. 

- Championing Gender Equity and Female Empowerment: Elevating the significance of diversity and inclusion in business and technology by emphasizing the vital role of women and promoting equal opportunities. 

- Global Summit and Awards: Hosting a Global Summit for knowledge-sharing, networking, and organizing regional awards ceremonies to celebrate women's achievements. 

By focusing on inclusion, diversity, and equity in STEAM, the organization aims to create an environment that nurtures and promotes business opportunities for women. 

## Advocacy for gender equality 

The organization is dedicated to championing gender equality in [STEAM](https://www.techtarget.com/whatis/definition/STEAM-science-technology-engineering-arts-and-mathematics) by cultivating inclusive environments and advocating for equal opportunities. Focusing on Sustainable Development Goal 5b, it supports the empowerment of girls and women worldwide through four core pillars: Education, Business, Digital Inclusion, and Advocacy. Its initiatives aim to raise awareness about the gender gap, challenge stereotypes, and dismantle gender-based discrimination in the tech industry. 

The organization's efforts include a [Global Summit](https://womenintech-summit.com/), which assembles leaders and advocates to discuss gender equality challenges and foster collaborations. Through global chapters and partnerships, it establishes a support network for women in technology, connecting them with mentors and offering skill-building programs. The organization proactively champions [gender equality](/news/article/world-of-woman-nft) through various initiatives, events, and collaborations. 

## Milestones and achievements 

- Impact on People: This organization championing women in technology has touched the lives of 250,000 individuals globally through its various initiatives and programs. 

- Event Participants: Over 230,000 people have participated in events organized by this group, promoting networking, knowledge sharing, and collaboration. 

- Skilling Programs Beneficiaries: More than 25,000 individuals have reaped the benefits of this organization's skilling programs, honing their abilities in STEAM subjects. 

- Mentoring: The mentoring program has successfully established over 2,000 mentor-mentee connections. 

- Donated Computers: This group has donated 260 computers to address the digital divide, ensuring access to technology for underprivileged communities. 

The organization continues to make remarkable progress in advocating for gender diversity and equality within the technology sector, inspiring women and girls to explore careers in STEAM fields. 

## Conclusion 

Women in Tech is dedicated to empowering women in the technology sector. Through its focus on education, business opportunities, and digital inclusion, it aims to bridge the gender gap and unleash the power of diversity and inclusion. 

Breaking barriers: Empowering women in tech 

JWT token (JSON Web [Token](/news/article/chiliz-coin-fan-token)) is a widely accepted standard (RFC 7519) that provides a compact and self-contained method for securely exchanging information as a JSON object. 

The information contained in JWTs can be verified and trusted due to its digital signature. JWT tokens can be signed using a secret with the HMAC algorithm or a public/private key pair using RSA or ECDSA. This cryptographic signing ensures the integrity and authenticity of the JWT, enabling recipients to validate its contents confidently. 

## JSON Web Token Structure 

The JWT token consists of three parts which are separated by dots(.): 

### 1.  Header 

 The header of a JWT token primarily provides information about the cryptographic operations applied to the token, such as the signing or encryption technique used. Additionally, it can include details about the media or content type of the information being transmitted. 

A simple example of a JWT Header 

{ 

  "alg": "HS256", 

  "typ": "JWT" 

} 

In this example, the header specifies that the JWT uses the HMAC SHA256 algorithm (HS256) for cryptographic operations, and the token type is JWT. 

Some JWTs can be created without signature or encryption, making them unsecured tokens. In the header of an unsecured JWT, the value of the "alg" property is set to "none", indicating that no cryptographic algorithm is applied to the token, making it less secure than signed or encrypted JWTs. 

{ 

"alg":" none" 

} 

### 2.    Payload 

The payload of a JWT is where the user data, also known as "claims", is included. It is important to note that the payload is readable by anyone with access to the token. 

Therefore, it is advisable not to include confidential or sensitive information in the payload to maintain security and privacy. 

Claims in JWTs can be categorised into three types: reserved, public, and private. 

### 3.    Reserved Claims  

These are predefined claims that have specific meanings and are commonly used. 

Examples of reserved claims include "iss" (issuer), "exp" (expiration time), "sub" (subject), and "aud" (audience). These claims have standardised interpretations across different systems. 

### 4.    Public Claims 

Public claims are custom claims defined by the users or organisations. They are not standardised and can vary based on specific use cases. Public claims help convey additional information relevant to the application or domain. 

### 5.    Private Claims 

Private claims are similar to public claims but are specific to a single application or organisation. They are not meant to be shared or understood by other parties. Private claims provide a way to include custom information for internal use within the application or organisation. 

{ 

   "alg": "none" 

 } 

### 6. Signature 

To create the signature part of a JWT using the HMAC SHA256 algorithm, you need to take the encoded header, the encoded payload, a secret key, and the algorithm specified in the header and then sign them. 

HMACSHA( 

  base64UrlEncode(header) + ’.’ + 

  base64UrlEncode(payload), 

  secret) 

## The benefits of utilising JSON Web Tokens (JWTs) 

Below listed are the advantages of JSON Web Tokens (JWT) compared to Simple Web Tokens (SWT) and Security Assertion Markup Language Tokens (SAML) 

### 1.   Compactness: 

JWT is more compact than SAML due to JSON's concise nature and smaller encoded size, making JWT suitable for HTML and HTTP environments where efficiency is crucial. 

### 2.   Security Options: 

SWT can only be symmetrically signed with a shared secret using the HMAC algorithm. In contrast, JWT and SAML tokens can utilise a public/private key pair, such as an X.509 certificate, for signing. However, signing XML with XML Digital Signature can be complex and prone to [security ](/news/article/blockchain-security-in-depth-analysis)vulnerability, whereas signing JSON is simpler. 

### 3.   Easy Integration: 

JSON parsers are widely available in programming languages and can directly map to objects. In contrast, XML lacks a natural document-to-object mapping, making JWT easier to work with than SAML assertions. 

### 4.   Broad Usage: 

JWT is extensively used on the internet, including widespread adoption across multiple platforms, particularly in mobile environments. The ease of client-side processing contributes to its popularity and originality. 

## When should you start using JSON Web Tokens? 

### 1.    Authorization - 

JWT is commonly used in scenarios where users need to authenticate and access different services or resources. Once a user logs in, they receive a JWT, which is then included in subsequent requests. This token allows the user to access authorised routes, services, and resources without needing to provide credentials again. JWT is particularly popular in Single Sign-On (SSO) systems because it is lightweight and can be easily used across multiple domains. 

### 2.    Information Exchange - 

[JSON Web Tokens (JWTs)](https://jwt.io/introduction) offer a reliable and secure method of transmitting information between parties. By utilising signature mechanisms, such as public/private key pairs, a JWT token enables verification of the senders' authenticity. The inclusion of a signature covering the header and payload ensures that the content remains unaltered and protected against tampering. 

## How to utilise JSON Web Tokens in Auth0 

In Auth0, JWTs are generated as a result of the authentication process. When a user logs in using Auth0, a JWT token is created, signed, and delivered to the user. Auth0 supports both HMAC and RSA algorithms for signing JWTs. This token is then utilised for authentication and sanction when interacting with APIs, granting access to protected routes and resources. 

Additionally, JWTs are employed in Auth0's API v2 for authentication and authorization purposes, replacing the traditional usage of opaque API keys. JWT token offers granular security, enabling the specification of specific permissions within the token, enhancing debuggability, and providing a more flexible authorization mechanism. 

JWT Token: A Comprehensive Guide

In today's digital world, where countless applications require access to personal data and resources, ensuring secure login control is crucial. OAuth2, an open standard protocol, provides a framework for granting secure connections to resources without exposing sensitive information. This article will delve into what it is, its key features, its benefits, and how it works. 

## What is OAuth2? 

[OAuth2](https://auth0.com/intro-to-iam/what-is-oauth-2) stands for 'Open Authorization'. It is a framework that enables users to grant restricted access to their protected resources to third-party applications, such as social media profiles, [cloud storage](/news/article/microsoft-crypto-mining-ban-cloud-services), or online banking accounts, without sharing their credentials. This framework separates the roles of the resource owner, the client application, and the resource server, ensuring a secure and controlled access mechanism. 

## Key Components of OAuth2 

![diagram of oauth2 protocol](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/Screenshot_2023_07_10_at_14_57_30_ff570f72f4.png)

- Resource Owners: These are the users who possess the data that needs to be accessed by a third-party application. For example, the user's social media account. 

- Client: This application requests entry to the user's resources, such as a mobile app. 

- Authorization Server: Its primary responsibility is to verify the users' identities and issue an access token to the client once the authentication process is completed. 

- Resource Server: This hosts the protected resources that the requesting application wants to gain entry on behalf of the user. It verifies the access token and grants a gateway to the requested resources if valid. 

## OAuth2 flow 

The platform provides different flows, or grant types, that determine how applications can obtain connection tokens and authenticate themselves to access protected resources. The most commonly used flows are: 

- Authorization Code Flow: This flow is commonly used for web applications. The client redirects the users to the[ authorization server](https://auth0.com/intro-to-iam/what-is-oauth-2), where they provide consent. Upon consent, they are redirected back to the application with a passage code, which then exchanges this code for a connection token, which is used to gain admission to the protected resources. 

- Implicit Flow: This flow is suitable for mobile and single-page applications. The access token is returned directly to the applications after the users' consent without an intermediate login control code. 

- Client Credentials Flow: This flow is used for machine-to-machine communication. The application directly authenticates itself using its credentials, such as an API key or secret, to obtain a passage [token](/news/article/how-to-get-summerswap). 

## Benefits of using OAuth2 

There are several benefits brought to developers, users, and service providers from using OAuth2: 

- Security: It protects users' privacy by not requiring them to share their passwords with third-party applications. 

- Efficiency: It is a more efficient way to login into user accounts than traditional methods, such as username and password authentication. 

- Flexibility: It can be used to gain entry to a wide range of services, including social networks, email providers, and cloud storage services. 

- Simplified integration: It provides a standardized and well-documented framework for developers to implement authentication and entry control. 

- Single sign-on (SSO) capability: It supports single sign-on, enabling users to authenticate once and connect to multiple applications seamlessly. 

## How does OAuth2 work 

The Authorization Server verifies and identifies the Client, providing it with credentials (ID and secret) as part of the authentication process. The application, such as a mobile app or website, initiates the access request, following these steps for token request, exchange, and response. 

![flow diagram](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/Screenshot_2023_07_10_at_14_57_04_c0fbf74ecb.png)

- Client requests access: The entity seeking access submits a request to the Authorization Server, providing its identification and secret credentials for authentication purposes. The entity specifies the desired scopes and supplies a redirect URI, indicating the location where the Access Token or Code should be sent. 

- Authenticating the client: It verifies the authenticity of the application and checks if the requested scopes are permitted. 

- Resource owner grants access: The individual who owns the resource engages with the Authorization Server to authorize access permissions for logging in. 

- Redirecting back to the Client: After the interaction with the Authorization Server, the application is redirected back, receiving either an Access Code or a Token for passage (depending on the grant type). Additionally, a Refresh Token may also be returned for future use. 

- Client requests resource access: With the passage Token in hand, the application requests to the Resource Server, seeking a connection to the desired resource. 

It's important to note that the above steps outline the general flow of the platform, and the specifics may vary depending on the chosen grant type. 

## Implementing OAuth2: Common use cases 

The common OAuth2 uses are as follows: 

- Social media integration: Enabling users to log in to third-party apps using their social media accounts, granting entry to basic profile information. 

- Mobile applications: It enables secure connection for mobile apps accessing APIs or user data on different servers. 

- Enterprise integration: The framework simplifies service and app integration within an enterprise, enhancing security and user experience. 

- Internet of Things (IoT): It authenticates and authorizes devices, enabling secure interactions between IoT devices and services. 

## OAuth2 Conclusion 

By implementing OAuth2, organizations can enhance [security](/news/article/chainlink-staking-to-boost-oracle-security), improve user experience, and foster interoperability in today's interconnected digital landscape. 


Understanding OAuth2: A secure authorization protocol 

[FinTech](https://en.wikipedia.org/wiki/Fintech) companies are making waves in the UK, especially with the growing popularity of blockchain tech, such as NFTs and cryptocurrency.

FinTech has entered popular parlance in recent years. An amalgamation of financial and technology, it refers to companies using technology to compete with traditional financial (TradFi) methods in delivering financial services.

Four main components make up the FinTech world:

•	Artificial intelligence.

•	Blockchain.

•	Cloud computing.

•	Big data

These components, often referred to as the ABCD, form the backbone of the industry.

Technological developments are constantly pushing the boundaries of FinTech in a never-ending move toward more financial inclusion. 

The evolution of smartphones and their applications has seen a surge in the popularity and use of mobile banking, investing, lending, and various cryptocurrency services as the general population take more control over their financial future.

The industry consists of start-ups, traditional financial institutions, and technology companies, often all working together to enhance the customer experience and encourage financial intelligence.

## FinTech companies UK

Investment in global FinTech has risen by more than 12,000% from $930 million in 2008 to over $121.6 billion today. Forecasters predict that by 2030 the global FinTech market is expected to reach $949 billion at an average growth rate of 17.2% per year.

FinTech companies UK represent the country's strongest start-up sector, consisting of more than 1,400 'high growth companies' and 20 unicorns (firms worth more than $1 billion). The industry attracts more venture capital than any other business raising some £21.9 billion so far, of which £7.4 billion came in the bumper year of 2021. 

With a total market valuation of just over £11 billion, FinTech in the UK is big business.

As you might expect, 96% of all UK FinTech firms are based in London. Around 9% of companies were founded by a female boss.
As of July 2022, the [three top FinTech companies in the UK](https://www.beauhurst.com/blog/fintech-startup-companies/) were:

•	Checkout.com.

•	Revolut.

•	Monzo

Checkout.com was founded in 2012 and raised £1.36 billion through four equity rounds. Its core business is payment processing software development allowing businesses to pay in more than 150 currencies. Its innovative platform combines several separate payment technologies and covers every stage of the process. With on ramps including Visa, Mastercard, and American Express, it is easy to see why it is the UK's largest FinTech company.

Following closely behind is the well-known brand Revolut, which services more than 18 million customers worldwide with financial services and digital banking through its popular mobile application. 

Since launching in 2013, Revolut has raised some £1.27 billion in equity. In December 2021, the company was awarded a full banking licence from the European Central Bank, making Revolut one of the best well-known FinTech brands on the market today.

In third place is challenger bank Monzo, which is fully regulated by the FCA and PRA in the UK. Founded in 2015 and based in the City of London, Monzo help more than 6 million customers manage their financial well-being through its digital banking platform. Monzo is free to use, but with the Premium option (£15 per month), customers are eligible for free phone and travel insurance.

## FinTech companies UK conclusion

Despite a global market slowdown in 2022, UK FinTech investment reached some $12.5 billion last year. It is easy to see why FinTech is held in such high regard in the UK.

Indeed, with over 2500 FinTech companies based in the country, the UK ranks as the [third largest FinTech hub in the world](https://www.londonstockexchange.com/uk-fintech-ecosystem).

Furthermore, around £3.6 trillion of foreign exchange trades are processed in London daily. This is more than the next four largest markets combined. When you add the fact that some 90,000 finance and insurance firms are based in the UK, it is obvious why the country remains top of the international finance industry.

According to a recent report by Deloitte, the UK FinTech industry is dominated by WealthTech and Payments. However, there are considered to be some 23 subsegments of the national ecosystem, making for an extremely varied and versatile industry.

As we can see from the examples above, growth in the space continues to be driven by high levels of investment, reaching some $11.6 billion in 2021, second only to the USA and counting for half of all European FinTech investments. As more and more people embrace the move away from traditional banking, the FinTech industry is predicted to double in value by 2030. If, as many expect, this forecast continues to materialise for FinTech companies UK, there has never been a more opportune time to be involved in this exciting industry.


blue image of two women working on computers in tech company

FinTech Companies in the UK 2023

If you are planning to purchase Solana-based tokens, you should never miss the powerful [Solanascan](https://solanascan.io/) alternative SolScan. With this blockchain explorer, you can track everything related to the cryptocurrency, including transactions, blocks, prices, and more.

## What is Solscan?

[Solscan](https://solscan.io/) is a cloud-based data analytics platform that lets users search for any information on the [Solana blockchain](/news/article/solana-price-gbp). This way, you can find the most recent price of the tokens, the latest news about the blockchain, and other information.

The platform makes it easier for users to understand the analytics and data on a blockchain.

## Benefits of using Solanascan

•	Track the performance of the portfolio over time.

•	Get alerts about price changes.

•	Analyze market trends and changes.

•	Get the latest company news.

•	No limit to the number of searches from the homepage.

•	Get the entire transaction history, including the transferer, transferee, transaction amount, and current holders.

•	You can also get to know the latest dollar value, SOL balance, and the cumulative number of transactions from the address information page.

## How does Solscan work?

Solscan works just like Solanascan. By entering the correct information (such as token address) into the search bar of the Solana blockchain explorer, you'll be able to view various data such as transaction costs, SOL Balance, and NFTs.

It scans for relevant information from the Solana blockchain and provides real-time updates. For example, you can get every detail of past Solana transactions, the holders, the transaction cost, and so on.

## What does Solscan track?

Apart from monitoring the transactions, it also lets you track more details of NFTs, tokens, smart contracts, blocks, and crypto whale trades. That is why it is considered among the best Solanascan alternative.

If you are new to the Solana blockchain, this tool can really help to understand every term related to Solana transactions. Feel free to explore this platform anytime from anywhere in the world.


blue image of solscan logo with picture of solana rocket

Solanascan Alternative Solscan Explained

The importance of a sustainable future cannot be overstated.

As society evolves, more conscious efforts toward sustainability are being made, with the rise of environmental, social, and governance initiatives by leading corporations worldwide. How can features of blockchain technology support this?

According to a recent statistic, the G20 countries will raise more than [$97 trillion](https://www.g20-insights.org/policy_briefs/fostering-sustainable-global-growth-green-finance-role-g20/) over the next decade and a half to accelerate sustainability efforts. Raising awareness of global social and economic inequality, as well as developing effective governance frameworks to address these issues, is critical. 

Private investments in climate-related projects are increasing, with one [hedge fund](https://www.forbes.com/sites/scottcarpenter/2020/07/04/hedge-fund-marshall-wace-will-bet-on-esg-stocks-with-new-1-billion-fund/?sh=520d75dc97de) betting $1 billion on ESG stocks in 2020.

One thing to remember is that sustainable development necessitates collaboration with the finance sector. With blockchain technology emerging as the future, decentralized finance will also play a role in constructing a sustainable future. How can features of blockchain technology support sustainability efforts? This article answers that and how the tech can solve various pain points associated with ESG initiatives.

## What is blockchain technology?

[According to Amazon](https://aws.amazon.com/what-is/blockchain/#:~:text=Blockchain%20technology%20is%20an%20advanced,linked%20together%20in%20a%20chain.), blockchain technology is an advanced database mechanism that allows for the openness and transparency of transactions within a business network. 

[Blockchain](/news/article/what-is-blockchain) technology uses a distributed ledger system, which allows a group of participants to reach an agreement without needing a third party. Blockchain technology is considered the new era of digital innovation because it is the basis of the next generation of the internet, Web3, and replaces traditional finance with decentralized finance. 

## Features include:

### Immutability

Immutability means that transactions, once registered on the blockchain, cannot be altered and is permanent. This is an essential feature of blockchain technology that enforces transparency and trust.

### Decentralization

Decentralization in blockchain involves distributing governing authority amongst different participants rather than a central entity. This promotes fairness and enhances the security of the blockchain. It is another vital feature that enables trust, openness, and transparency.

### Consensus

Blockchain technology relies on several consensus mechanisms to maintain the integrity and trustworthiness of stored data. Consensus algorithms establish rules about consent for recording transactions.

How can features of blockchain support sustainability efforts?
Blockchain technology, among other things, can be a valuable tool in mitigating environmental issues such as climate change and carbon emissions. There are various ways in which blockchain technology can play an important role in boosting sustainability initiatives, especially ESG, such as:

### Supply Chain: 

Blockchain tech can improve supply chain traceability. 

Blockchain technology is a distributed ledger technology that can protect critical company data from attack because data is stored in a decentralized manner. This has a wide range of applications in the food industry. Demand for ethically sourced products has grown, particularly in the food industry. 

Users can use blockchain technology to trace these products' supply chains and determine whether they are safe to consume. As a result, blockchain enhances the environment for suppliers, transporters, distributors, and retailers by making supply chains more efficient.

### Combating Climate Change:

With blockchain technology, renewable energy can be expanded, reducing carbon emissions. Companies can offset their carbon footprint using blockchain by investing in environmentally sustainable projects. Crypto donations are now being accepted by the Carbon Offsets to Alleviate Poverty organization.

### Renewable Energy:

Using blockchain to manage renewable energy production is an excellent way to increase efficiency and reduce costs. The blockchain system promotes collaboration between utility companies and customers, and blockchain technology improves distributed energy production. The market can allocate production and use alternative types of energy.

## Final Thoughts

How can features of blockchain technology support sustainability efforts? These examples are just a few of the many ways the tech can help. With the incorporation of blockchain technology in ESG initiatives, more sustainable infrastructure can be put in place, improving the overall social outcomes of ESG initiatives. Furthermore, blockchain tech can be used to enhance governance frameworks and sustain value by providing transparency and verification processes. 

Blockchain technology is expected to become a mainstay in ESG initiatives, spawning more creative applications due to this integration.


yellow image of eco friendly hand holding leaves

How Can Features of Blockchain Support Sustainability Efforts? 

Non-fungible tokens (NFTs) are probably the most popular use case for [blockchain technology](/news/article/blockchain-for-dummies). Some of them are worth tens of millions and have [received endorsements](/news/article/instagram-nft-minting-and-trading) from top celebrities and financial entities. They have also revolutionized how we view digital arts and physical assets. 

To help you get started, we created this guide on how to make NFT art.

## What is an NFT?

Non-fungible tokens (NFTs) are digital assets created and stored on a blockchain. They are unique cryptographic assets you cannot replace with another asset, hence the "non-fungible" description. Non-fungible tokens are created by minting them on a blockchain.

Unlike cryptocurrencies and fiat currencies, you cannot exchange one NFT for another. Each token has unique identification codes that help anyone to verify its uniqueness and originality on the blockchain. Even if you create a clone, anyone can tell the original from the clone by looking at the metadata.

Due to their non-fungibility, they are perfect for representing items from the physical universe, including physical artworks, videos, and real estate. However, you can also create them as standalone art. You can even create NFTs that do not represent any physical asset.

## How to make NFT Art

To create an NFT, you must sign up on a platform that supports NFT minting. This platform could be a crypto exchange or [NFT marketplace](/news/article/nft-art-marketplaces). You will need some cryptocurrency to verify the transaction and mint the token.

The amount and how you pay depends on how the blockchain you use charges a transaction fee for the minting process. For example, this fee is referred to as the gas fee on Ethereum and is paid with Ether (ETH).

Some of the popular NFT minting platforms are:

•	Binance (BNB Chain).

•	[Nifty Gateway.](/news/article/what-is-niftify)

•	Rarible

•	OpenSea

•	Proton Mint.

•	SolaNart

## How to make your first NFT Art

Ready to create your first NFT? Here is a step-by-step guide on how to create an NFT from scratch.

## Define your art

Figure out what you want to create. Most creators tie their NFT to a digital art piece like a short video clip, an image, or an audio file. You can even create an NFT out of a tweet. [Jack Dorsey made millions from selling an NFT made from his tweet.](https://www.cnbc.com/2021/03/22/jack-dorsey-sells-his-first-tweet-ever-as-an-nft-for-over-2point9-million.html)

The goal is to create something unique and original. So if you are basing your NFT on digital media, you must hold the right to that asset. Another alternative is to create them without an underlying basis for representation.

## Select a blockchain

NFTs are created and stored on blockchains. So, you must choose a blockchain to host your art. There are many blockchains options, each with its pros and cons.

The top choice for many digital creators is [Ethereum](/news/article/ethereum-prediction), and almost all marketplaces allow you to mint NFTs on the Ethereum blockchain. Other great options include [Solana](/news/article/solana-price-gbp), [Polygon](/news/article/matic-price-prediction), and Flow.

Each blockchain has its community and features, so you should research this. However, if you want to learn through the process, then Ethereum is where you should start.

## Set up a wallet

When you create a non-fungible token, it is stored on a blockchain address. You need a crypto wallet to access and interact with your NFTs. So, after you've chosen a blockchain, you need a wallet that supports your selected blockchain. 

Some wallets support more than one blockchain; some don't support more than one.

Therefore, you need to research your wallet choice and determine which blockchains it supports. MetaMask, Coinbase Wallet, and Ledger Nano X are the most popular options.

## Choose a platform

You need a minting platform to create your NFTs, and there are several platforms to choose from during your minting. For example, Rarible and OpenSea are two platforms that support minting on the Ethereum blockchain.

Ideally, you want a platform that allows easy minting at a reasonable cost and provides you with a place to list and sell NFTs. OpenSea and SolaNart are great choices to mint and quickly sell NFTs.

OpenSea is famous for its Ethereum-based NFTs, while SolaNart is a [Solana-based NFT platform](/news/article/solanart-nft-marketplace). You can also use crypto exchanges such as the Binance Exchange and Coinbase to mint and trade the tokens.

## Mint the NFT

Once you've chosen your blockchain, crypto wallet, and platform, the next step is to create your NFT. For illustration purposes, we will describe how to create an NFT on OpenSea. The processes for other platforms may be similar or different; however, the underlying principles apply.

•	Connect your wallet: Click the wallet icon from the OpenSea menu and select the wallet you wish to connect. This process will require you to make a verification on your wallet app.

•	Create your NFT: Select the "create" option on the Open Sea platform. This option will create a page for you to upload your NFT art and define its features and the blockchain you want to use.

•	Define your NFT: You need to give your NFT a name and description. You can add special features such as discount codes or private Discord channel invites. You can also expand your NFT to a collection or limit it to only one.

•	Pick your blockchain: The last step is to select the blockchain to store your NFT. Don't make a mistake here, as you cannot change this after you have minted the NFT.

•	Mint your token: Congratulations! Your digital asset is live. However, it still needs to be put up for sale. To do that, you need to select the sell button and indicate your sell price and how long you want to put it up for sale. Most platforms allow you to list your NFT for free or next to nothing, while others can charge a lot depending on the network fees at the time of listing.

Depending on the platform, it will cost you a small fee to sell an NFT. Some platforms, such as Binance, will take a percentage of the selling price to cover platform fees and other applicable fees. Other platforms like OpenSea, on the other hand, charge a flat price for each sale.

You can also choose to earn each time anyone sells your NFT and can earn up to 10% each time it is subsequently sold.

## Wrapping up

You now know how to make NFT art. Minting an NFT requires you to learn a few concepts, like using minting platforms and digital crypto wallets. Once you get a grip on these things, creating them becomes easy.


pink image of woman drawing nft on a tablet with bitcoins on the desk

How to Make NFT Art in 5 Steps

Whether you're new to Helium and HNT staking or a seasoned professional, you can use several tips and tricks to improve your staking experience. Here's a brief guide of things you should know before you begin.

## HNT staking explained

### Become a validator to stake HNT: 

[Helium staking is the process of staking coins and crypto](https://www.helium-staking.com/). The amount of money a validator earns depends on the initial stake. The minimum staking amounts vary by coin, but can go as low as tens of thousands of dollars. The amount of rewards for earning also varies by the total supply of HNT in circulation.

You can stake multiple validators to increase your chances of earning. You can also stake different types of cryptocurrencies. There are two basic types of staking: partial and full. Generally, [a full staker retains all earnings minus the operational costs](/news/article/crypto-lending). However, a partial staker can split the stake with other validators in the Vanager network.

A validator node is a beefy cloud computer that performs consensus group. It adds new blocks to the blockchain and checks transactions. It also maintains the shared network state and helps keep the network secure. You can get a validator node started by staking 10,000 HNT. Then, you'll need to install the node software in a suitable environment.

To earn rewards, a validator must be online and perform consensus group work. HNT staking rewards are paid out every 30 blocks and a validator node is rewarded for stability and security. There are a few penalties for failing to participate in the consensus group.

If a validator is not in contact with the network for a period of time, the reward is slashed. The maximum penalty is five months. Then, they can participate in the Consensus Group again after the same amount of time.

For those looking to earn passive income, you can also invest in an unstaking validator. These are great ways to support the network without staking.

### Transition to Proof of Stake

Using crypto-economic incentives, Helium (HNT) incentivizes participants to build Internet of Things (IoT) networks. The network is secured by Helium's blockchain, and hotspots provide service to IoT devices.

In the past months, there has been a significant MoM increase in the number of hotspots on the network. These operators are using consumer-grade hotspot hardware and basic internet connections.

Helium uses the Proof of Coverage protocol to validate hotspot locations. This allows the network to operate securely across distributed operators. In addition, it distributes rewards to HNT holders. 

These rewards are then sent to verify transactions.


blue image of hnt helium token over trading statistics

HNT Staking and Maximizing Returns

The festive season always springs a surprise or two, the latest of which is the ~30% price surge of [NEAR Protocol (NEAR)](/news/article/near-protocol) since the turn of the calendar year. This, of course, coincides with the spectacular ~5,000% rise in the price of Solana's newly-launched dog coin, Bonk (BONK), in ONE WEEK – yes, you read that right!

## NEAR Protocol price statistics

To put things into perspective, NEAR was priced at a low of $1.24 on 1 January, 2023 and a high of $1.62 on 5 January, 2023. That is a substantial price growth of around 30%.
  
![Screenshot 2023-01-05 at 10.56.10.png](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/Screenshot_2023_01_05_at_10_56_10_661f860110.png)

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

If we look at NEAR Protocol's price increase over the last 24 hours (at the time of writing), the cryptocurrency has advanced by more than 10%. While $1.62 is nowhere near the crypto token's all-time high of $20.44 (16 January, 2022), the signs are positive, as [NEAR Protocol](https://near.org/) (yes, we are talking about the blockchain on this occasion) is a highly-valued ecosystem with a plethora of projects building on it.

There are as many as 750 active projects and 125 [DAOs](/news/article/ice-dao) on the blockchain. These include the likes of Aurora, Octopus Network, Ref Finance, Arweave, The Graph, TenK DAO, and more.

Well, you may not have heard of these projects before or delved into the intricacies of the blockchain ecosystem. Here is why you SHOULD NOT be sleeping on the latest NEAR Protocol price surge.

## The latest NEAR Protocol price jump is only the start

The blockchain ecosystem’s goal is to [build the open web](/news/article/near-protocol-partner-with-google-cloud) together and provide projects building on it with all feasible support.

This includes strong venture support with more than $120M awarded already, a robust technical base, a vibrant community of in excess of 550k members, collaboration through DAOs, local presence through regional hubs, and several Web3 career opportunities (150+ active openings at the time of writing).

The DApps on the blockchain serve several use cases, including DeFi, [NFTs](/news/article/nft-farming-explained), and community (do try Sweatcoin!).

Finally, if you are a Web3 developer looking to make a mark in the space, explore the blockchain. You can build projects using JavaScript or Rust, take advantage of its dev tools, and utilise extensive documentation to good effect. All with fantastic customer support, at a low cost and high speed, with effortless scale.

The Web3 ecosystem is here to stay (DYOR fam!).


green iamge of crypto coins being traded with near protocol coin in the centre

NEAR Protocol 30% Price Jump Just the Start

If you are new to cryptocurrency, then [Nomics](https://nomics.com/) may sound like a strange word from worlds unknown. But not anymore. Basically, Nomics is an online API-first platform that provides financial market data for cryptocurrency assets.

It provides real-time and historical cryptocurrency market data, including prices, trading volumes, [market caps](/news/article/what-is-market-cap-cryptocurrency), and more. At the same time, it offers comprehensive data coverage for more than 10,000 digital assets and access to clean, normalized, and standardized market data.

## When to use Nomics

The platform is best utilized when you wish to monitor and assess the performance of a variety of digital assets. That includes cryptocurrencies, stocks, and other tokens based on blockchain technology. When investing, it can inform you of the current status of the Bitcoin markets and assist you tremendously in making wise choices.

Who benefits most from using this platform? Well, investors, traders, and market analysts are the people who get the most from it. You could, too, because you will keep up with the most recent changes in the cryptocurrency market. You are also able to examine previous data, which will be paramount in making wise trading decisions.

## Why is it important to use Nomics? 

As you are already aware, using this API platform is important because it provides users with a comprehensive, accurate, and up-to-date worldwide view of the cryptocurrency market. Additionally, it also provides real-time financial data for more than 2,000 cryptocurrencies.

In summary, Nomics makes it simple for users to get the data they require to recognize trading or investment opportunities and helps them make informed financial decisions. 

Furthermore, it gives them access to the most recent information and analysis from the whole crypto industry.

For sure, with its rich features and data, the platform is an invaluable resource for anyone wanting a better understanding of the crypto markets.

So, what are you waiting for? Open a Nomics platform and see for yourself in real-time what is happening in the crypto world.


What is Nomics? All You Need to Know

Circle Head of Global Policy and Chief Strategy Officer Dante Disparte said that the instability in the market over the past year might signify a shift in the technology to more stable and resilient businesses in the crypto 2023 market.

In a post for the World Economic Forum, Disparte highlighted the increasing use of cryptocurrencies in the financial industry and suggested that the ongoing bear market and problems with exchanges could ultimately result in the creation of a more responsible and reliable internet finance system.

He also pointed out that the cryptocurrency market's current situation may be similar to the dot-com bubble burst in the early 2000s, which resulted in the transfer of the future of the internet to more durable companies and use cases.

Disparte spoke from his position at Circle, the issuer of the USD Coin ([USDC](/news/article/usdc-coin-losses), a stablecoin tied to the US dollar. In addition, he is a member of WEF's Digital Currency Governance Consortium and a lifetime member of the Council on Foreign Relations.

## Could we expect more stability in crypto 2023?

According to Disparte, despite the disastrous year for cryptocurrency, which he compares to a [crypto](/news/article/yield-farming-crypto) ice age rather than winter, cryptography and blockchain will remain an important part of the current economic landscape.

He stated that 2022 was a horrible year for cryptocurrency markets, with one of the most destructive bear markets ever recorded and the failure of several big platforms. 

[Despite](https://www.bloomberg.com/news/videos/2022-11-11/circle-s-disparte-on-crypto-crisis-video) these barriers, he believes that mainstream financial institutions will eventually migrate to cryptocurrencies because the technology remains a prominent participant in finance.

He added that it is important to pay attention to the actions of big banks and mature financial services firms rather than their words when understanding the staying power of digital assets and blockchain technology, asserting his bullish views for crypto 2023 technology.

Disparte's statements come amid a shift in attitude among some of the most vocal opponents of cryptocurrency, who have now started to embrace it. Despite being repeatedly declared as failed or deceased (Bitcoin Obituaries Archive says more than 460 times), [Bitcoin](/news/article/how-to-buy-bitcoin-uk) and other cryptocurrencies have continued to grow in popularity and become more widely accepted.

Furthermore, Disparte reinforced his viewpoint in a recent opinion post for the Diplomatic Courier, calling it "disingenuous" for bankers to bash Bitcoin with one hand while attempting to usurp its ideas with the other.


Crypto 2023: Circle CSO Makes Prediction

The need for alternative forms of payment has never been greater. The rise of Web3 payment solutions, like Kasta crypto, proves this need is more than just a passing trend.

The Web3 payment provider Kasta was developed to expedite the adoption of decentralisation while providing a viable medium of digital exchange.

Built on the Polygon network, Kasta crypto is an [ERC-20](https://en.wikipedia.org/wiki/Ethereum#ERC20) token allowing holders to send and receive the same coins instantly and for free. This simplicity and ease of use will make the platform a hit in the digital revolution.

## Simple yet powerful

The project has been designed with simplicity in mind, making the transfer of digital assets safe and convenient. Holders can send tokens via mobile number or by simply scanning the QR code. Using crypto has never been easier.

At its core, the project is a basic wallet application with various features encouraging everyday use. This accessibility means anyone can quickly learn to use the platform for their own benefit.

The application is a powerful all-in-one wallet allowing even the most novice crypto users to enter the Web3 world. While the platform only supports eight coins so far, they include some of the most popular tokens on the market.

## Easy Swap

The platform's native token is the [$KASTA coin](https://coinmarketcap.com/currencies/kasta/markets/) which is currently available at a wide variety of exchanges, including Gate.io, UniSwap, and ByBit.
With a current circulating supply of 129 million priced at $0.0266 per coin, the total market cap is $3.4 million.

The 'Easy Swap Engine' allows holders to choose which token to receive, regardless of the coin sent. For example, should a friend send Bitcoin, you can simply change your settings to ensure that all crypto is received in Ethereum.

Kasta crypto token forms the backbone of the application, and, alongside P2P payments, it will soon be used for several other purposes.

## Future of Kasta

This project is a shining example of a P2P payment processor and is leading the way in blockchain adoption and Web3 development. The company has ambitious plans for the future, with many features currently in the pipeline. 

In the near term, users will be able to earn passive income by taking advantage of various yield-generating opportunities via the mobile app. Furthermore, platform users will also be able to apply for a debit card, allowing them to spend their crypto holdings in a wide variety of merchant stores. 

Lastly, all application users will be able to choose to stake their idle crypto and earn passive income.

With countries like Nigeria pushing their citizens to adopt [distributed solutions](/news/article/paybis-rewards-customers), the future of cross-border payments is about to change. Applications like Kasta crypto are at the cutting edge of the decentralised revolution and will form the backbone of the future society.


Kasta Crypto - Changing Thinking on Money

[Nexo](https://nexo.io/) is a blockchain-based ecosystem providing instant crypto loans, supporting more than 20 currencies, including the most prominent like Bitcoin and Ethereum. The platform promotes the seamless acquisition of crypto loans in fiat money without relying on credit score history. It allows users to deposit supported crypto tokens into its blockchain's wallets and then proceed to receive their cash-based loans.

## Next crypto legitimacy

To its credit, Nexo is backed by Credissimo, a fintech team with millions of users and customers. The development team possesses decades of rich experience built on delivering instant customer loans, online payment services, and e-commerce financing. Credissimo seeks to revolve its functionality in digital assets through its modern technology. 

While other projects get stuck battling the scrutiny of regulatory bodies and solid public caution, Nexo crypto is free of worries. The Credissimo team runs under bold supervision from multiple European financial and banking services authorities. It's undoubtedly a legit platform with over four million clients.

## Goals in the crypto world

The base ambition driving the Nexo crypto project is to solve the most pressing problems identified by its developers in the financial industry.

Nexo wants to eliminate the idle state of digital assets, particularly with the proliferation of cryptos. As the mainstreaming of cryptocurrencies is ongoing, early adopters of this technology have accumulated enormous wealth. The developers are looking to touch base with investors, people in business, and non-professional users to let them tap into this wealth. Due to a lack of regulations and inadequate tech infrastructure, the accumulated idle wealth isn't beneficial. With Nexo, users hold crypto assets and secure access to cash in fiat currencies like USD.

Liquidating digital assets is tiresome and Nexo cuts down the process with readily available cash. While there are numerous crypto exchanges, each platform comes with unique requirements that vary drastically across these platforms. Furthermore, their withdrawal limits and slow procedures are unsuitable in a digital economy. Nexo seeks to eradicate these issues, giving more agility for seizing investment asset opportunities and accessing liquidity in less time.

Nexo frees users from the pressure of selling digital assets for fiat. Users profit from future prices tied to digital assets based on time. Crypto loans are an alternative to selling and allow users to keep capital gains while enacting wealth creation activity with their assets.

Fostering transparency and immutability on crypto loans, Nexo crypto loans are deployed on smart contracts in blockchain architecture. Users' funds are held in cold multi-signature wallets with verified custody standards through digital security companies; in this case, it's BitGo. In the preceding blockchain protocols' loan transactions, management was in the hands of peer-to-peer platforms relying on questionable legal agreements and often escalated to fraud. 

With Nexo, transactions' legal status is asserted by blockchain technology and further backed by the [Credissimo team](/news/article/what-is-blockchain).

## The Operation Model

Loans are channeled into users' accounts on the same day or the following through bank transfers involving SEPA, ACH, or SWIFT. If you opt for the instant ones, you get paired with the free Nexo card. The recipient's accounts are flexible – they can either be personal or business.

Loan limits are calculated basing the value of a user’s crypto assets. Moreover, additional credit is available with an appreciation of the assets.

Nexo Oracle, the heart of this platform, manages its operation domains which include the following:

•	Network governance.

•	Monitoring assets in real-time.

•	Analyzing data to manage loan distribution and repayment plans.

•	Determining users' loan limits, borrowing costs, collateral, and repayment period.

To establish clients’ credit worth without needing to check bank accounts’ ratings, Nexo Oracle calculates the Loan to Value (LTV) ratio. For instance, a user with 1000 USD in Bitcoin (BTC) gets assessed by Oracle’s algorithm to receive a 50% LTV ratio; the user can only borrow up to 1000 USD as the minimum fiat loan.

## Accessing and repaying Nexo crypto loans

### To get a loan, follow these steps:

1.	Transfer crypto assets into your Nexo account. After completion, the blockchain system initiates a series of validations for the specific asset. Based on the validity evaluation, Oracle determines your loan limit and prepares to issue it.

2.	You then receive an instant loan in fiat currency through your preferred option – a bank account or Nexo card. Again, you are given the freedom to choose which fiat currency to receive your loan. If your asset appreciates, Oracle increases your limit instantly.

3.	To repay your loan, you can choose between bank transfers and crypto. There would be additional discounts if you decided to repay using Nexo tokens. Alternatively, you can partially repay your loan by selling your account's crypto assets.

4.	Cryptocurrency in a Nexo crypto account can be withdrawn either fully or partially as long as you meet the obligatory limit tied to your account balance.

## Nexo crypto token availability

The native token for Nexo is NEXO, which is traded as a restricted security. Other perks include higher loan limits and a 30% profit share for holding NEXO. The total supply at the market cap is set to 1,000,000,000. It is available for trading on crypto exchanges like HitBTC.

## Final thoughts

As the crypto industry rises and sees mass adoption, crypto lending offers an opportunity for a trillion-dollar venture. If you want to unlock assets’ value without giving out ownership, Nexo is the best option.



What is Nexo Crypto?

Yield farming drove the decentralised finance (DeFi) explosion in 2020. Risk-tolerant investors recognised the potential of yield farming crypto and took advantage of the chance to earn "free" interest on their cryptocurrencies. However, it is not entirely free, and the gains come with significant risks depending on the project.

The strategy employs the cutting-edge technology of [smart contracts](/news/article/smart-contracts-blockchain) and coded contracts that execute automatically on blockchains like Ethereum. Yield farming has grown in popularity as an investment strategy. It is risky, and there are still scams in the ecosystem, but the best platforms have already proven their worth.

## What is yield farming crypto?

Yield farming is a system in which users deposit cryptocurrency in a pool with other cryptocurrency users to pursue investment gains, most commonly through interest earned on the pooled cryptocurrency. It is a high-risk strategy with high potential rewards.

## How does yield farming work?

Yield farming crypto functions something like a savings account with a bank. It pools depositor money and gives loans while you earn interest on the money you deposited. But in a yield farm, the cryptocurrency is invested in smart contract applications rather than converted into a mortgage or a business loan.

With yield farming, users stake their money alongside other investors in the same farm, the cryptocurrency equivalent of making a deposit.

Yield farming begins with the formation of a cryptocurrency asset pool. The following steps are taken to facilitate yield farming:

1.	A liquidity pool is established: Creating a liquidity pool is the first step in yield farming. This is based on a smart contract that makes all investing and borrowing for that specific yield farm.

2.	Investors deposit assets: Investors can deposit currency in the liquidity pool by connecting their digital wallets. This is known as "staking". It is similar to customers depositing at a bank or investing in a mutual fund or ETF.

3.	Smart contract allows borrowing: A smart contract can help with various processes, such as adding liquidity to a cryptocurrency exchange market or lending to others.

4.	Reward payout: Interest, bonuses, and rewards may differ by yield farm. You could be paid regularly or on a specific future date.

## How to get started with yield farming crypto?

Here are the steps to get started:

1.	Research yield farm investments: Begin by investigating potential yield-farm investments. You can choose from various DeFi providers or centralised exchanges to gain access to yield-farming markets.

2.	Connect your wallet or deposit funds into your account: To participate, you must have a compatible account funded with the correct currency. You must use a compatible wallet for decentralised yield farms, such as MetaMask or Coinbase Wallet. You should use an exchange to buy or transfer the desired currency into your account for yield farming.

3.	Put your cryptocurrency at [stake](/news/article/how-to-stake-celo): Navigate to the specific yield farm to stake your funds once connected or funded. Once staked, your currency may be locked into the farm for some time.

4.	Collect your earnings: Based on your yield farm and deposit method, you may need to return to the yield-farm website to retrieve your earnings.

## Pros and cons of yield farming crypto

### Pros

1.	The possibility of earning high-interest rates online: Yield farming crypto has the potential to earn returns over 100% APY.

2.	Smart contracts-controlled: Smart contracts eliminate the need for middlemen and allow anyone with a compatible cryptocurrency wallet to participate.

### Cons

1.	Risks of impermanent losses: Impermanent losses occur when the value of a cryptocurrency falls while it is locked in a yield farm.

2.	Scams and fraud: Just like in other parts of the cryptocurrency ecosystem, bad actors are out to steal money through fraudulent yield farms and other schemes.

## Top yield farms 

1.	Uniswap
With more than $5.5 billion in the platform, [Uniswap](/news/article/uniswap-price-prediction-2025) is the second-largest decentralised exchange (DEX) by total value locked, behind Curve Finance. To provide the swaps, the platform offers swaps with Ethereum and thousands of ERC-20 tokens and staking in liquidity pools. Liquidity providers earn a percentage of trading fees for each swap. With a large enough deposit, they can earn a lot of money. All other DEXes, including Uniswap, have varying interest rates depending on the market and pool.

Investors should exercise caution when depositing funds into pools containing volatile cryptocurrencies because sharp price swings could result in temporary losses. Additionally, just like on all DeFi platforms, a smart contract failure could result in enormous losses. There are two primary versions of the platform, known as Uniswap V2 and V3.

2.	Aave
[Aave](https://aave.com/) is the current DeFi king, with a startling $10 billion-plus in total value locked. It is a decentralised cryptocurrency lending and borrowing platform that runs on Ethereum (and the Polygon sidechain). Aave's borrow APRs are some of the best available because investors have deposited so much cryptocurrency there to earn interest.

The main risk of depositing into Aave is the unlikely possibility of smart contract failure. Borrowers must consider the risk of liquidation when the ratio of the value of borrowed assets to the value of the loan's collateral exceeds a threshold (known as the maximum loan-to-value ratio), which varies by the token. Anyone can purchase your collateral, and you can only recover up to half of the loan's value.

3.	PancakeSwap
PancakeSwap is a [decentralised](/news/article/dns-servers) exchange similar to Uniswap (DEX). It works similarly to Uniswap, but runs on BSC (the Binance Smart Chain network) rather than Ethereum. It also has a few more gamification-focused features. It has by far the highest total value locked of any BSC DeFi project, at around $7 billion. PancakeSwap provides BSC token swaps, interest-earning staking pools, a gambling game in which users predict the future price of BNB and even NFT art.

PancakeSwap carries all of the risks associated with Uniswap, including temporary loss due to smart contract failure and significant price shifts. Many tokens in PancakeSwap pools have small market capitalisations and thus face an increased risk of impermanent loss. Users of Uniswap face the same risks, but the platform offers more and more significant Ethereum-based tokens for staking.

4.	Curve Finance
The platform's unique market-making algorithm allows it to use the locked funds more effectively than any other DeFi platform. Both swap users and liquidity providers profit from this.

With respectable APRs, Curve offers a long list of [stablecoin](/news/article/what-are-stablecoins) pools pegged to fiat money (mainly the USD). Curve maintains strong APRs for liquid tokens of between 1.9% and 32%. On the condition that the tokens don't lose their peg, stablecoin pools are exceptionally secure. Impermanent loss can be entirely avoided because their prices won't vary significantly from one another. Using Curve carries the same risks as other DEXes, including impermanent loss and smart contract failure. 

5.	Yearn Finance
Yearn Finance (YFI) provides a unique yield farming and aggregation tool. Its active development team is constantly coming up with new ideas to help users achieve ever-higher yields. Additionally, Yearn and Curve Finance have a close integration. Investors can deposit one of five cryptocurrencies (ETH, DAI, WBTC, USDC, or USDT) into a smart contract that deposits into the corresponding pool on Curve to earn interest by investing in one of the platform's more than 30 Yearn-integrated Curve pools. The smart contract compounds gains by reinvesting earnings back into the pool. Yearn is subject to the same risks as other yield-farming platforms, including impermanent loss and failed smart contracts.

## Is yield farming beneficial?

Yield [farming](/news/article/farming-games-in-metaverse) is an intriguing way for cryptocurrency enthusiasts to profit from their investments and the currency's value growth. However, due to the risks involved, yield farming may not be worthwhile for many investors, especially newer investors.

It can be alluring to consider earning 100%, 200%, or even higher in annual interest. However, you shouldn't engage in yield farming unless you fully comprehend how it operates and its dangers. 

Conduct due diligence on the exchanges, coins, and teams behind the yield farming engagement you intend to enter. All of these things are required to reduce the risks associated with this investment.


Yield Farming Crypto Explained

[Biconomy](https://www.biconomy.io/) is one of the outstanding companies rooted in India, paving its way into the Web3 space. The company provides a cross-chain layer infrastructure handling transactions and gas payments bridging applications into Web3. It also owns the BICO token, which has been listed on many exchanges.

While many Web3 applications are built on Ethereum, the increased traffic is causing congestion on the blockchain. The congestion significantly raises gas prices forcing developers to seek alternative chains for their applications.

## Impact on Web3

Biconomy's network allows gasless transactions bringing down all costs for decentralized finance (DeFi) applications facilitating Web3 transactions. Some of its well-known products include Mexa, Forward, and Hyphen.

Mexa facilitates gasless transactions in decentralized applications (Dapps). Forward on the hand, allows users to pay their transaction fees using tokens instead of gas. Hyphen, the final product, provides fast and less expensive token transfers through different [blockchain](/news/article/what-is-blockchain) networks.

The combination of these products renders the protocol multiple uses. Users are empowered with the freedom to enjoy seamless gasless transactions while still interacting with layer1 and layer2 solutions. With time, it can be integrated into any Web3 platform with crypto-enabled transactions.

## Developer Perks

Many developers are already leveraging Biconomy and its multi-chain stack, offering a better user experience in Web3 products in de-Fi, NFTs, and gaming, among others. Users are provided with the following:

•	Plug-and-play Application Program Interfaces (APIs) and Software Development Kits (SDKs) – Among the network’s core features are APIs and SDKs that aid developers in building dApps with incredible user experience.

•	Gasless Transactions – With most Web3 apps, users must pay a gas fee for their utility. This cost hinders the mass adoption of Web3 products. As with platforms like Netflix, users do not pay server fees every time they watch movies. Similarly, Biconomy users are free of charge.

•	Multiple Currencies – While most Dapps are built on Ethereum, their dominant payment option is ETH. Biconomy supports multiple tokens and allows users to make payments with their preferred currencies.

•	Simplified User Interface – Interacting with Dapps entails creating blockchain transactions requiring crypto knowledge and technical; experience. In this case, the user interface has been optimized to the highest levels of simplicity.

•	Cross-chain Transfers – It is not easy to make transfers between chains. The inherent multi-chain characteristic facilitates transactions on blockchain arrays and L2s. It also eases communication while securing value from different chains.

## Biconomy Coin Functionality

Biconomy’s native token is BICO, launched last year and runs as an ERC-20 token on the Ethereum blockchain. BICO has the following functions:

•	Network Fees – The re-layer infrastructure network is maintained by node operators acting as validators and executors for settling and verifying transactions. Node operators must pay a transaction fee in $BICO when adding new transaction data on the chain and, in return, earn $BICO based on the work done on the chain.

•	Stakeholder Incentives – BICO holders are entitled to earning passive incomes through staking. The Proof of Stake (PoS) and liquidity pool integrated into the network assert high security and 100% uptime.

•	Network Governance (Voting rights) – BICO holders have the right to vote, submit requests, and feedback that, when incorporated, shape the future of Biconomy's milestones and endeavors. The governance operation model entails participating in numerous activities like changing the network code, adding and removing services, and allocating funds from the treasury.

## Who is building the BICO crypto?

Biconomy foundation dates to 2019 with the following founders: Aniket Jindal, Sachin Tomar, and Ahmed Al-Balaghi. The team comprises Indian nationals with a great passion for blockchain technology. Jindal brings a wealth of knowledge after studying at the Prestigious Fudan University and years of experience working with Binance. Balaghi is a seed founder and investor in Polygon (previously the Matic network). Tamar has been an engineer at Samsung Electronics and an early Ethereum blockchain enthusiast.

According to [BybitLearn](https://learn.bybit.com/), on 21 July, 2021, the trio raised $9 million through private funding led by the Mechanism capital. Other companies, like Coinbase ventures, have also invested in Biconomy. Additional significant fundraising includes the recent October, which totaled $11.5 million through the public sale of BICO tokens.

## Biconomy Price

BICO hit its all-time-high (ATH) price, $21.87, in December 2021. While we have seen significant down trends in the market with the crypto winter, BICO is not exceptional. Looking into January 2021, it had dropped to $3.50, and as of the time of writing, it’s at $0.43995.

Biconomy is platform building for the future of DeFi and adoption for Web3. Each day, it onboards new partners and will reclaim its ATH in the coming days.

## Putting it All Together

The performance of BICO has not been stellar. However, the developmental team demonstrates clear use cases for its outstanding innovations. Biconomy is looking to be a worldwide facilitator for Web3 transactions.




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