Showing posts from February, 2024

Bitcoin Halving Day And Things To Prepare For Making Profit

Bitcoin halving day, commonly known as halving, is the event when the reward for Bitcoin miners is cut in half from the previous reward. This event is estimated to occur every four years. This policy mechanism is written into the Bitcoin mining algorithm to address inflation while maintaining scarcity. Historically, the reduction in the Bitcoin emission rate has led to an increase in BTC price after halving. Bitcoin Halving Day is a period awaited by Bitcoin investors every 4 years. During this time, the reward for crypto mining will be halved. This limits the supply of Bitcoin - which will only be 21 million coins. The scarcity of supply and high demand often become the factors behind new rallies. Bitcoin Halving Periods Referring to its historical trend, since Bitcoin was first created in 2009, Bitcoin has undergone three halvings: The first halving occurred on November 28, 2012, when the miner's reward, initially 50 BTC, dropped to 25 BTC. The second halving occurred on July 9,

Understanding Wrapped Bitcoin

Bitcoin has become the most well-known cryptocurrency asset worldwide, even rivaling traditional investment assets such as stocks and gold in popularity. Despite the increasing number of emerging altcoins (cryptocurrencies other than Bitcoin), Bitcoin's popularity remains unparalleled. When it comes to price, there is a significant gap between Bitcoin and altcoins. However, Bitcoin has a drawback in terms of its protocol, doesn't support smart contracts like Ethereum, which means Bitcoin cannot facilitate decentralized finance (DeFi) applications. Wrapped Bitcoin has emerged to address this issue. By utilizing the ERC-20 protocol, Wrapped Bitcoin is essentially Bitcoin on the Ethereum network. The goal is to bring the value and liquidity of Bitcoin into the growing DeFi world. So, how does Wrapped Bitcoin work to bring Bitcoin's value into DeFi? Let's discuss it further. What is Wrapped Bitcoin? Wrapped Bitcoin (WBTC) is an ERC-20 token that represents the value of Bitc

Top 5 Crypto Narratives For 2024 That Must Be Monitored

The crypto narrative has become a crucial factor in driving the fluctuations in crypto asset values. Supported by the Bitcoin halving event in 2024, Bitcoin and Altcoin prices have been on the rise since mid-2023 until early 2024. The increase in Bitcoin prices followed by Altcoins acts as a catalyst for welcoming the bull market in 2024. As an investor, preparing for the excitement of a bull market should include understanding important crypto narratives that have the potential to influence the global crypto market. What Is a Crypto Narrative? In cryptocurrency, a narrative refers to a new idea, story, or trending topic shaping how people perceive and evaluate cryptocurrencies. These narratives can influence investor sentiment, market movements, and the adoption of new technology. Crypto narratives emerge from a combination of various factors, including recent developments in crypto and blockchain technology, social and economic events, government policies, and the motivations of indi

What Is ERC-404? The New Token Standard On Ethereum Network

ERC-404 has become the latest token standard on the Ethereum network which has recently popular. ERC-404 is an experimental token standard with an innovative approach as it can combine features from ERC-20 (fungible tokens) and ERC-721 (non-fungible tokens or NFTs). This token standard was developed by anonymous developers "ctrl" and "Acme," collectively referred to as the Pandora project team. While many crypto observers believe that ERC-404 has the potential to grow in the future, this experimental project has not yet been officially recognized by the Ethereum Foundation. What Is ERC-404? ERC-404 is an experimental token standard built on Ethereum, enabling conversion between Non-Fungible Tokens commonly known as NFTs (ERC-721) and fungible tokens (ERC-20). ERC-404 operates by merging elements from the ERC-20 and ERC-721 standards. ERC-20 tokens are fungible, meaning they can be replaced and traded in fractional amounts. On the other hand, ERC-721 tokens, commonl