Decentralized Finance: present and future - Revision history

Locava: /* Future of Cryptocurrency */

2022-05-01T18:48:58Z

Future of Cryptocurrency

← Older revision		Revision as of 21:48, 1 May 2022
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	==Future of Cryptocurrency==		==Future of Cryptocurrency==
			[[File:musk_doge.png\|200px\|thumb\|left\|Elon Musk on Dogecoin<ref>Elon Musk on Twitter: Dogecoin Rulz Available at: https://twitter.com/elonmusk/status/1113173498384441344?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1113173498384441344%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fmarketrealist.com%2Fp%2Felon-musk-dogecoin-tweets%2F - Accessed 26 Apr 2022</ref>]]
	Since the whole concept of cryptocurrencies has been around for barely longer than 10 years, it is hard to predict what the next ten years will bring. Though, there are a few factors that have been in everyone’s minds.		Since the whole concept of cryptocurrencies has been around for barely longer than 10 years, it is hard to predict what the next ten years will bring. Though, there are a few factors that have been in everyone’s minds.
	<ol>		<ol>
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	As crypto goes under the control of governments, even though it probably becomes less appealing to the cypherpunks, it does become a more accessible instrument for traditional finance. Tech giants like Tesla are starting to hold Bitcoin in their balance sheets, some like Facebook and Amazon are starting to implement blockchain in their platforms, and banks are trying to lure traditional investors by creating crypto ETFs(exchange traded funds).		As crypto goes under the control of governments, even though it probably becomes less appealing to the cypherpunks, it does become a more accessible instrument for traditional finance. Tech giants like Tesla are starting to hold Bitcoin in their balance sheets, some like Facebook and Amazon are starting to implement blockchain in their platforms, and banks are trying to lure traditional investors by creating crypto ETFs(exchange traded funds).
	<li>'''Elon Musk:'''</li>		<li>'''Elon Musk:'''</li>
	[[File:musk_doge.png\|200px\|thumb\|right\|Elon Musk on Dogecoin<ref>Elon Musk on Twitter: Dogecoin Rulz Available at: https://twitter.com/elonmusk/status/1113173498384441344?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1113173498384441344%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fmarketrealist.com%2Fp%2Felon-musk-dogecoin-tweets%2F - Accessed 26 Apr 2022</ref>]]
	Elon Musk and his meaningful tweets(which are kindly shared with the public on a platform he of yesterday-25th of April, 2022- owns), have power beyond anyone’s wildest imaginations.<ref>Elon Musk on Twitter: Dogecoin Rulz Available at: https://twitter.com/elonmusk/status/1113173498384441344?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1113173498384441344%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fmarketrealist.com%2Fp%2Felon-musk-dogecoin-tweets%2F - Accessed: 4/26/2022</ref>		Elon Musk and his meaningful tweets(which are kindly shared with the public on a platform he of yesterday-25th of April, 2022- owns), have power beyond anyone’s wildest imaginations.<ref>Elon Musk on Twitter: Dogecoin Rulz Available at: https://twitter.com/elonmusk/status/1113173498384441344?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1113173498384441344%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fmarketrealist.com%2Fp%2Felon-musk-dogecoin-tweets%2F - Accessed: 4/26/2022</ref>
	</ol>		</ol>

Locava: /* Future of Cryptocurrency */

2022-05-01T18:48:18Z

Future of Cryptocurrency

← Older revision		Revision as of 21:48, 1 May 2022
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	As crypto goes under the control of governments, even though it probably becomes less appealing to the cypherpunks, it does become a more accessible instrument for traditional finance. Tech giants like Tesla are starting to hold Bitcoin in their balance sheets, some like Facebook and Amazon are starting to implement blockchain in their platforms, and banks are trying to lure traditional investors by creating crypto ETFs(exchange traded funds).		As crypto goes under the control of governments, even though it probably becomes less appealing to the cypherpunks, it does become a more accessible instrument for traditional finance. Tech giants like Tesla are starting to hold Bitcoin in their balance sheets, some like Facebook and Amazon are starting to implement blockchain in their platforms, and banks are trying to lure traditional investors by creating crypto ETFs(exchange traded funds).
	<li>'''Elon Musk:'''</li>		<li>'''Elon Musk:'''</li>
	[[File:musk_doge.png\|~~100px~~\|thumb\|right\|Elon Musk on Dogecoin<ref>Elon Musk on Twitter: Dogecoin Rulz Available at: https://twitter.com/elonmusk/status/1113173498384441344?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1113173498384441344%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fmarketrealist.com%2Fp%2Felon-musk-dogecoin-tweets%2F - Accessed 26 Apr 2022</ref>]]		[[File:musk_doge.png\|200px\|thumb\|right\|Elon Musk on Dogecoin<ref>Elon Musk on Twitter: Dogecoin Rulz Available at: https://twitter.com/elonmusk/status/1113173498384441344?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1113173498384441344%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fmarketrealist.com%2Fp%2Felon-musk-dogecoin-tweets%2F - Accessed 26 Apr 2022</ref>]]
	Elon Musk and his meaningful tweets(which are kindly shared with the public on a platform he of yesterday-25th of April, 2022- owns), have power beyond anyone’s wildest imaginations.<ref>Elon Musk on Twitter: Dogecoin Rulz Available at: https://twitter.com/elonmusk/status/1113173498384441344?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1113173498384441344%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fmarketrealist.com%2Fp%2Felon-musk-dogecoin-tweets%2F - Accessed: 4/26/2022</ref>		Elon Musk and his meaningful tweets(which are kindly shared with the public on a platform he of yesterday-25th of April, 2022- owns), have power beyond anyone’s wildest imaginations.<ref>Elon Musk on Twitter: Dogecoin Rulz Available at: https://twitter.com/elonmusk/status/1113173498384441344?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1113173498384441344%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fmarketrealist.com%2Fp%2Felon-musk-dogecoin-tweets%2F - Accessed: 4/26/2022</ref>
	</ol>		</ol>

Locava: /* Future of Cryptocurrency */

2022-05-01T18:47:57Z

Future of Cryptocurrency

← Older revision		Revision as of 21:47, 1 May 2022
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	As crypto goes under the control of governments, even though it probably becomes less appealing to the cypherpunks, it does become a more accessible instrument for traditional finance. Tech giants like Tesla are starting to hold Bitcoin in their balance sheets, some like Facebook and Amazon are starting to implement blockchain in their platforms, and banks are trying to lure traditional investors by creating crypto ETFs(exchange traded funds).		As crypto goes under the control of governments, even though it probably becomes less appealing to the cypherpunks, it does become a more accessible instrument for traditional finance. Tech giants like Tesla are starting to hold Bitcoin in their balance sheets, some like Facebook and Amazon are starting to implement blockchain in their platforms, and banks are trying to lure traditional investors by creating crypto ETFs(exchange traded funds).
	<li>'''Elon Musk:'''</li>		<li>'''Elon Musk:'''</li>
	[[File:musk_doge.png\|~~500px~~\|thumb\|right\|Elon Musk on Dogecoin<ref>Elon Musk on Twitter: Dogecoin Rulz Available at: https://twitter.com/elonmusk/status/1113173498384441344?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1113173498384441344%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fmarketrealist.com%2Fp%2Felon-musk-dogecoin-tweets%2F - Accessed 26 Apr 2022</ref>]]		[[File:musk_doge.png\|100px\|thumb\|right\|Elon Musk on Dogecoin<ref>Elon Musk on Twitter: Dogecoin Rulz Available at: https://twitter.com/elonmusk/status/1113173498384441344?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1113173498384441344%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fmarketrealist.com%2Fp%2Felon-musk-dogecoin-tweets%2F - Accessed 26 Apr 2022</ref>]]
	Elon Musk and his meaningful tweets(which are kindly shared with the public on a platform he of yesterday-25th of April, 2022- owns), have power beyond anyone’s wildest imaginations.<ref>Elon Musk on Twitter: Dogecoin Rulz Available at: https://twitter.com/elonmusk/status/1113173498384441344?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1113173498384441344%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fmarketrealist.com%2Fp%2Felon-musk-dogecoin-tweets%2F - Accessed: 4/26/2022</ref>		Elon Musk and his meaningful tweets(which are kindly shared with the public on a platform he of yesterday-25th of April, 2022- owns), have power beyond anyone’s wildest imaginations.<ref>Elon Musk on Twitter: Dogecoin Rulz Available at: https://twitter.com/elonmusk/status/1113173498384441344?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1113173498384441344%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fmarketrealist.com%2Fp%2Felon-musk-dogecoin-tweets%2F - Accessed: 4/26/2022</ref>
	</ol>		</ol>

Locava: /* Future of Cryptocurrency */

2022-05-01T18:46:04Z

Future of Cryptocurrency

← Older revision		Revision as of 21:46, 1 May 2022
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	As crypto goes under the control of governments, even though it probably becomes less appealing to the cypherpunks, it does become a more accessible instrument for traditional finance. Tech giants like Tesla are starting to hold Bitcoin in their balance sheets, some like Facebook and Amazon are starting to implement blockchain in their platforms, and banks are trying to lure traditional investors by creating crypto ETFs(exchange traded funds).		As crypto goes under the control of governments, even though it probably becomes less appealing to the cypherpunks, it does become a more accessible instrument for traditional finance. Tech giants like Tesla are starting to hold Bitcoin in their balance sheets, some like Facebook and Amazon are starting to implement blockchain in their platforms, and banks are trying to lure traditional investors by creating crypto ETFs(exchange traded funds).
	<li>'''Elon Musk:'''</li>		<li>'''Elon Musk:'''</li>
			[[File:musk_doge.png\|500px\|thumb\|right\|Elon Musk on Dogecoin<ref>Elon Musk on Twitter: Dogecoin Rulz Available at: https://twitter.com/elonmusk/status/1113173498384441344?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1113173498384441344%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fmarketrealist.com%2Fp%2Felon-musk-dogecoin-tweets%2F - Accessed 26 Apr 2022</ref>]]
	Elon Musk and his meaningful tweets(which are kindly shared with the public on a platform he of yesterday-25th of April, 2022- owns), have power beyond anyone’s wildest imaginations.<ref>Elon Musk on Twitter: Dogecoin Rulz Available at: https://twitter.com/elonmusk/status/1113173498384441344?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1113173498384441344%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fmarketrealist.com%2Fp%2Felon-musk-dogecoin-tweets%2F - Accessed: 4/26/2022</ref>		Elon Musk and his meaningful tweets(which are kindly shared with the public on a platform he of yesterday-25th of April, 2022- owns), have power beyond anyone’s wildest imaginations.<ref>Elon Musk on Twitter: Dogecoin Rulz Available at: https://twitter.com/elonmusk/status/1113173498384441344?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1113173498384441344%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fmarketrealist.com%2Fp%2Felon-musk-dogecoin-tweets%2F - Accessed: 4/26/2022</ref>
	</ol>		</ol>

Ezdagl at 18:39, 1 May 2022

2022-05-01T18:39:22Z

Malogb at 18:28, 1 May 2022

2022-05-01T18:28:30Z

← Older revision		Revision as of 21:28, 1 May 2022
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	The most known definition of a pump and dump scheme originates from the late 90s, where fraudsters would buy stocks, call/email people to hype up the stock, artificially inflating the price. When that was achieved, they'd sell all of their stocks at the high, making a huge profit for themselves while the people investing would lose all their money.<ref>“Pump and Dump Schemes” Investor.Gov, www.investor.gov/introduction-investing/investing-basics/glossary/pump-and-dump-schemes. Accessed 27 Mar. 2022.</ref>		The most known definition of a pump and dump scheme originates from the late 90s, where fraudsters would buy stocks, call/email people to hype up the stock, artificially inflating the price. When that was achieved, they'd sell all of their stocks at the high, making a huge profit for themselves while the people investing would lose all their money.<ref>“Pump and Dump Schemes” Investor.Gov, www.investor.gov/introduction-investing/investing-basics/glossary/pump-and-dump-schemes. Accessed 27 Mar. 2022.</ref>
	Although the original scams involving the stock market have been eradicated by the stern regulations, a new branch has emerged thanks to lax legislation as well as the crypto scene in social media.		Although the original scams involving the stock market have been eradicated by the stern regulations, a new branch has emerged thanks to lax legislation as well as the crypto scene in social media.
			[[File:mcafee.jpeg\|200px\|thumb\|right\|John McAfee<ref>https://media.wired.com/photos/593284509be5e55af6c25963/master/w_1000,c_limit/Wired_McAfee.jpg\|Accessed 27 Apr 2022</ref>]]
	Due to the social influence and novelty of the blockchain development, people with high social status and following are free to manipulate the market for their financial gain - creating, pumping and then pumping various currencies.		Due to the social influence and novelty of the blockchain development, people with high social status and following are free to manipulate the market for their financial gain - creating, pumping and then pumping various currencies.
	The initial rise and success of Bitcoin paved a way to create a fear of missing out among casual consumers, allowing fraudsters to manipulate them into buying a new, unknown currency, therefore inflating the price. As there are little to no regulations regarding cryptocurrencies and crypto market manipulation, the scams have become rampant with no consequences to the perpetrators, making it an attractive scheme to make a quick buck. <ref>Phemex. “What Is Pump and Dump: Crypto Market Manipulation - Phemex Academy.” Phemex, 28 Jan. 2022, phemex.com/academy/what-is-pump-and-dump. Accessed 19.03.2022</ref>		The initial rise and success of Bitcoin paved a way to create a fear of missing out among casual consumers, allowing fraudsters to manipulate them into buying a new, unknown currency, therefore inflating the price. As there are little to no regulations regarding cryptocurrencies and crypto market manipulation, the scams have become rampant with no consequences to the perpetrators, making it an attractive scheme to make a quick buck. <ref>Phemex. “What Is Pump and Dump: Crypto Market Manipulation - Phemex Academy.” Phemex, 28 Jan. 2022, phemex.com/academy/what-is-pump-and-dump. Accessed 19.03.2022</ref>
	Many influencers and celebrities have promoted 'memecoins', while simultaneously being paid to promote the coin as well as holding a significant amount of the coin to dump when the price reaches an all time high.		Many influencers and celebrities have promoted 'memecoins', while simultaneously being paid to promote the coin as well as holding a significant amount of the coin to dump when the price reaches an all time high.
	=====John McAfee=====		=====John McAfee=====
	~~[[File:mcafee.jpeg\|500px\|thumb\|right\|https://media.wired.com/photos/593284509be5e55af6c25963/master/w_1000,c_limit/Wired_McAfee.jpg\|Accessed 27 Apr 2022</ref>]]~~
	One of the most notable instances of the governing bodies taking a stance on crypto pump and dumps has been the John McAfee case, who was charged with wire fraud, conspiracy to commit commodities and securities fraud, and conspiracy to commit money laundering.		One of the most notable instances of the governing bodies taking a stance on crypto pump and dumps has been the John McAfee case, who was charged with wire fraud, conspiracy to commit commodities and securities fraud, and conspiracy to commit money laundering.
	He used his notable following on the social media site Twitter and his social standing to inflate the prices of Dogecoin and Reddcoin, then selling his whole share when the price reached an all time high.		He used his notable following on the social media site Twitter and his social standing to inflate the prices of Dogecoin and Reddcoin, then selling his whole share when the price reached an all time high.

Malogb at 18:23, 1 May 2022

2022-05-01T18:23:46Z

← Older revision		Revision as of 21:23, 1 May 2022
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	Many influencers and celebrities have promoted 'memecoins', while simultaneously being paid to promote the coin as well as holding a significant amount of the coin to dump when the price reaches an all time high.		Many influencers and celebrities have promoted 'memecoins', while simultaneously being paid to promote the coin as well as holding a significant amount of the coin to dump when the price reaches an all time high.
	=====John McAfee=====		=====John McAfee=====
			[[File:mcafee.jpeg\|500px\|thumb\|right\|https://media.wired.com/photos/593284509be5e55af6c25963/master/w_1000,c_limit/Wired_McAfee.jpg\|Accessed 27 Apr 2022</ref>]]
	One of the most notable instances of the governing bodies taking a stance on crypto pump and dumps has been the John McAfee case, who was charged with wire fraud, conspiracy to commit commodities and securities fraud, and conspiracy to commit money laundering.		One of the most notable instances of the governing bodies taking a stance on crypto pump and dumps has been the John McAfee case, who was charged with wire fraud, conspiracy to commit commodities and securities fraud, and conspiracy to commit money laundering.
	He used his notable following on the social media site Twitter and his social standing to inflate the prices of Dogecoin and Reddcoin, then selling his whole share when the price reached an all time high.		He used his notable following on the social media site Twitter and his social standing to inflate the prices of Dogecoin and Reddcoin, then selling his whole share when the price reached an all time high.

Locava: /* Technology */

2022-05-01T16:25:09Z

Technology

← Older revision		Revision as of 19:25, 1 May 2022
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	==Technology==		==Technology==
	Almost all cryptocurrencies are built on blockchain technology. Simply put it’s a decentralized ledger of all transactions on its network. The data on the blockchain is not modifiable. Blockchain essentially makes the history of a cryptocurrency unalterable and transparent.		[[File:blockchain.jpeg\|500px\|thumb\|right\|Chain of Blocks<ref>Lange, G. (2018). Bitcoin. Block-Builders. Retrieved from https://block-builders.de/kryptowaehrungen/bitcoin/ \| Accessed 1 May 2022</ref>]]Almost all cryptocurrencies are built on blockchain technology. Simply put it’s a decentralized ledger of all transactions on its network. The data on the blockchain is not modifiable. Blockchain essentially makes the history of a cryptocurrency unalterable and transparent.

	Blockchain consists of three elements: blocks, nodes and miners. Blocks contain a piece of data, a nonce (32bit randomly generated number) and a hash (generated from the nonce). Every block has its own unique nonce and hash, but also the hashes of the block before it. This creates a chain.		Blockchain consists of three elements: blocks, nodes and miners. Blocks contain a piece of data, a nonce (32bit randomly generated number) and a hash (generated from the nonce). Every block has its own unique nonce and hash, but also the hashes of the block before it. This creates a chain.

Jokodu: /* Technology */

2022-05-01T15:33:52Z

Technology

← Older revision		Revision as of 18:33, 1 May 2022
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	Almost all cryptocurrencies are built on blockchain technology. Simply put it’s a decentralized ledger of all transactions on its network. The data on the blockchain is not modifiable. Blockchain essentially makes the history of a cryptocurrency unalterable and transparent.		Almost all cryptocurrencies are built on blockchain technology. Simply put it’s a decentralized ledger of all transactions on its network. The data on the blockchain is not modifiable. Blockchain essentially makes the history of a cryptocurrency unalterable and transparent.

	Blockchain consists of three elements: blocks, nodes and miners. Blocks contain a piece of data, a nonce (32bit randomly generated number) and a hash (generated from the nonce). Every block has its own unique nonce and hash, but also the hashes of the block before ~~it and the block after~~ it. This creates a chain.		Blockchain consists of three elements: blocks, nodes and miners. Blocks contain a piece of data, a nonce (32bit randomly generated number) and a hash (generated from the nonce). Every block has its own unique nonce and hash, but also the hashes of the block before it. This creates a chain.

	Miner's objective is to solve the incredibly complex math problem of finding the nonce from the generated hash. There are billions of possible combinations for these hashes, so miners have a lot of work. When the correct hash is found, the miners are awarded. It’s practically impossible to manipulate data on the blockchain, because making a change to one block would require re-mining of that block, and all the blocks that come after it. <ref>“What Is Blockchain Technology? How Does It Work? \| Built In.” Built In, builtin.com/blockchain. Accessed 7 Mar. 2022.</ref>		Miner's objective is to solve the incredibly complex math problem of finding the nonce from the generated hash. There are billions of possible combinations for these hashes, so miners have a lot of work. When the correct hash is found, the miners are awarded. It’s practically impossible to manipulate data on the blockchain, because making a change to one block would require re-mining of that block, and all the blocks that come after it. <ref>“What Is Blockchain Technology? How Does It Work? \| Built In.” Built In, builtin.com/blockchain. Accessed 7 Mar. 2022.</ref>

Jokodu: /* Limitations */

2022-05-01T13:17:30Z

Limitations

← Older revision		Revision as of 16:17, 1 May 2022
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	===~~Limitations~~===		===Disadvantages===
			Blockchain relies on the legitimacy of the nodes on the network. For the network to properly check and validate the transactions, at least 51% of the nodes must be valid. If someone was able to control over 51% of the nodes and change some data in the chain in all of those nodes, this change would become the new truth for the entire network. This is called the 51% attack.

			Blockchains can consume too much energy. Solving complex math problems can take a lot of processing power, which consumes energy. This can be a very big problem if the network grows big enough. For example bitcoin’s network consumes the energy equivalent of about the annual energy consumption of Sweden.

			Blockchain allows users to be their own banks, to control their own money. The disadvantage with this is that people often tend to forget or lose their stuff, in this case passwords or secret keys. If your key is lost, there is no recovering your account.

	==Government & Regulations==		==Government & Regulations==

← Older revision		Revision as of 21:39, 1 May 2022
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	There are many different reasons for the switch from Proof of Work to Proof of Stake, but some of the most common are listed below.		There are many different reasons for the switch from Proof of Work to Proof of Stake, but some of the most common are listed below.
	=====The environmental cost=====		=====The environmental cost=====
	As mentioned above, the environmental cost of mining seems high to many people, though usually this is not based on a decision made by comparing ETH mining process to other financial transactions, some a lot more meaningless, like high frequency stock trading executed every day in Wall Street. Yet regardless of how fair or an unfair comparison is made, it is obviously a good idea to make sure the future of finance is constructed in a more sustainable way. Hence this is one of the aims of switching from PoW to PoS, which will remove the incentive for doing the calculations necessary to add new blocks to the chain as fast as possible, thus in effect lowering energy consumption of miners		As mentioned above, the environmental cost of mining seems high to many people, though usually this is not based on a decision made by comparing ETH mining process to other financial transactions, some a lot more meaningless, like high frequency stock trading executed every day in Wall Street. Yet regardless of how fair or an unfair comparison is made, it is obviously a good idea to make sure the future of finance is constructed in a more sustainable way. Hence this is one of the aims of switching from PoW to PoS, which will remove the incentive for doing the calculations necessary to add new blocks to the chain as fast as possible, thus in effect lowering energy consumption of miners<ref>Editorial Staff. “Why Is Ethereum Switching From Proof of Work to Proof of Stake?” Business Magazine - Ideas and News for Entrepreneurs, 15 June 2021, www.businessmagazine.org/why-is-ethereum-switching-from-proof-of-work-to-proof-of-stake-15620.</ref>
	=====Monopolization of the Network=====		=====Monopolization of the Network=====
	As mentioned above, the safety and longevity of Ethereum blockchain depends on solving the computational puzzles presented with every transaction as fast as possible. And in order to make sure there are people willing to do this job so that the chain remains online, a monetary incentive is presented to solvers. This financial gain quickly drew the attention of entrepreneurs, especially people who had access to cheap electricity. Slowly, a whole industry developed around Ethereum mining, and the imbalance in computational power of miners meant small-time miners began seeing considerable decreases in their rewards. Eventually, big companies took over almost all of the mining, leading to a highly un-decentralized system, which goes contrary to the very spirit of the development of most blockchain technologies, With a switch to PoS, the hope is a shift to a more egalitarian system where not only mining-whales but also small shrimp who just want to partake in the blockchain have some say will be achieved.		As mentioned above, the safety and longevity of Ethereum blockchain depends on solving the computational puzzles presented with every transaction as fast as possible. And in order to make sure there are people willing to do this job so that the chain remains online, a monetary incentive is presented to solvers. This financial gain quickly drew the attention of entrepreneurs, especially people who had access to cheap electricity. Slowly, a whole industry developed around Ethereum mining, and the imbalance in computational power of miners meant small-time miners began seeing considerable decreases in their rewards. Eventually, big companies took over almost all of the mining, leading to a highly un-decentralized system, which goes contrary to the very spirit of the development of most blockchain technologies, With a switch to PoS, the hope is a shift to a more egalitarian system where not only mining-whales but also small shrimp who just want to partake in the blockchain have some say will be achieved.<ref>DailyCoin. “What Happens to ETH If It Becomes PoS?” DailyCoin.Com, 5 July 2021, dailycoin.com/what-happens-to-eth-if-it-becomes-pos.</ref>
	====Proof of Stake====		====Proof of Stake====
	Proof of stake is a consensus mechanism where the miners, who are now called “validators” are chosen randomly by an algorithm-though it is important to note that this algorithm makes its selection based on the amount of holdings every validator has, so whoever has more ETH has a higher chance of being picked, currently this bar is set at 32 ETH, which is worth around $100,000 at the time of writing, thus removing the need to compete against other validators and getting rid of the need to employ very fast machines that consume exorbitant amounts of energy.The switch is also supposed to make Ethereum blockchain more scalable, allegedly allowing for up to 100,000 times more transactions to be validated per second.		Proof of stake is a consensus mechanism where the miners, who are now called “validators” are chosen randomly by an algorithm-though it is important to note that this algorithm makes its selection based on the amount of holdings every validator has, so whoever has more ETH has a higher chance of being picked, currently this bar is set at 32 ETH, which is worth around $100,000 at the time of writing, thus removing the need to compete against other validators and getting rid of the need to employ very fast machines that consume exorbitant amounts of energy.The switch is also supposed to make Ethereum blockchain more scalable, allegedly allowing for up to 100,000 times more transactions to be validated per second.
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	Monero provides anonymity using multiple different techniques. The most important ones are: using “stealth” addresses, bulletproofs, Dandelion++		Monero provides anonymity using multiple different techniques. The most important ones are: using “stealth” addresses, bulletproofs, Dandelion++
	====Stealth Addresses====		====Stealth Addresses====
	Stealth addresses are created by the sender every time a transaction is done. They are randomly generated, so observers aren’t able to connect transactions done by the same user to that person.		Stealth addresses are created by the sender every time a transaction is done. They are randomly generated, so observers aren’t able to connect transactions done by the same user to that person. <ref>“What Is a Stealth Address?” Investopedia, 25 Feb. 2022, www.investopedia.com/terms/s/stealth-address-cryptocurrency.asp.</ref>

	The sender can use their private viewing key to see the record of all their transactions, but anyone who doesn’t have these keys isn’t able to track the transactions done by the person.		The sender can use their private viewing key to see the record of all their transactions, but anyone who doesn’t have these keys isn’t able to track the transactions done by the person.
	====Bulletproofs====		====Bulletproofs====
	At first, Monero employed ring signatures and RingCT to obscure the amount of funds being transacted. Ring signatures create digital signatures that can be validated by anyone who has access to the public keys of the group members, but no information about which member of the group created the signature during this process. The original papers describe a scheme based on RSA signatures.		At first, Monero employed ring signatures and RingCT to obscure the amount of funds being transacted. Ring signatures create digital signatures that can be validated by anyone who has access to the public keys of the group members, but no information about which member of the group created the signature during this process. The original papers describe a scheme based on RSA signatures.
	Monero specifically employed “mixins” from previous transactions to obfuscate the sender’s address. First there was no lower limit, but as it was later realized this created a huge threat vector, a minimum of seven decoy signatures requirement was added. But a big downside of RingCT scheme was its huge size overhead. So a switch to “bulletproofs” was made		Monero specifically employed “mixins” from previous transactions to obfuscate the sender’s address. First there was no lower limit, but as it was later realized this created a huge threat vector, a minimum of seven decoy signatures requirement was added. But a big downside of RingCT scheme was its huge size overhead. So a switch to “bulletproofs” was made
	Bulletproofs are based on “Non-Interactive Zero Knowledge Proof”(NZIP), which basically allows someone to commit a statement without revealing to the verifier what that statement is. For example if you and your friend are playing a guessing game where you tried to guess a number your friend randomly picked, your friend could commit this number with a zero knowledge proof commitment so that you wouldn’t know what it was until it was revealed, but your friend would have no way of claiming it was some other number either. These bulletproofs don’t require a trusted setup, hence lowering the size requirements and potentially allowing for additional security implementations to be made.		Bulletproofs are based on “Non-Interactive Zero Knowledge Proof”(NZIP), which basically allows someone to commit a statement without revealing to the verifier what that statement is. For example if you and your friend are playing a guessing game where you tried to guess a number your friend randomly picked, your friend could commit this number with a zero knowledge proof commitment so that you wouldn’t know what it was until it was revealed, but your friend would have no way of claiming it was some other number either. These bulletproofs don’t require a trusted setup, hence lowering the size requirements and potentially allowing for additional security implementations to be made.<ref>Nuzzi, Lucas. “Monero Becomes Bulletproof - Digital Asset Research.” Medium, 19 Oct. 2018, medium.com/digitalassetresearch/monero-becomes-bulletproof-f98c6408babf.</ref>

	==Stability of Cryptocurrency==		==Stability of Cryptocurrency==
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	The fact that “Crypto Twitter” is a term widely known and used is a good indication of what a big role social media platforms play in the synergy surrounding cryptocurrencies. Many retail users get trading tips and setups from social media influencers who are “crypto experts”. Even billionaires like Elon Musk use Twitter to tweet seem,ngly random tweets about seemingly random cryptocurrencies and send their prices to the moon(some people call this market manipulation). This high level of activity naturally creates a huge amount of data. This is where a relatively new technology called “sentiment analysis” or “opinion mining” comes into play.		The fact that “Crypto Twitter” is a term widely known and used is a good indication of what a big role social media platforms play in the synergy surrounding cryptocurrencies. Many retail users get trading tips and setups from social media influencers who are “crypto experts”. Even billionaires like Elon Musk use Twitter to tweet seem,ngly random tweets about seemingly random cryptocurrencies and send their prices to the moon(some people call this market manipulation). This high level of activity naturally creates a huge amount of data. This is where a relatively new technology called “sentiment analysis” or “opinion mining” comes into play.

	The main objective in sentiment analysis is to evaluate the public opinion using the social media posts of people and analyzing them using “natural language processing”, biometics, computational linguistics and similar techniques that are supposed to be able to pick up human emotions and context only through text. Sentiment analysis actually has a longer history than what most might imagine, supposedly even playing a role in Barack Obama’s victory in 2008 US Presidential Elections. Later it got adapted by large online marketplaces like Amazon, who used it to go though buyer comments and classify them according to their urgency levels and content(apparently before employing AI, Bezos himself would respond to every comment). Nowadays, sentiment analysis has proven to be a crucial part of holding the pulse of markets.		The main objective in sentiment analysis is to evaluate the public opinion using the social media posts of people and analyzing them using “natural language processing”, biometics, computational linguistics and similar techniques that are supposed to be able to pick up human emotions and context only through text.<ref>Shivanandhan, Manish. “What Is Sentiment Analysis? A Complete Guide for Beginners.” freeCodeCamp.Org, 30 Sept. 2020, www.freecodecamp.org/news/what-is-sentiment-analysis-a-complete-guide-to-for-beginners.</ref> Sentiment analysis actually has a longer history than what most might imagine, supposedly even playing a role in Barack Obama’s victory in 2008 US Presidential Elections. Later it got adapted by large online marketplaces like Amazon, who used it to go though buyer comments and classify them according to their urgency levels and content(apparently before employing AI, Bezos himself would respond to every comment). Nowadays, sentiment analysis has proven to be a crucial part of holding the pulse of markets.<ref>“Sentiment Analysis Guide.” MonkeyLearn, monkeylearn.com/sentiment-analysis. Accessed 26 Apr. 2022.</ref>


	In the crypto space, sentiment analysis is done based on metrics such as increase/decrease in mentions, engagements, clicks, shared links, the number of posts, number of contributors and the like. Different coins, exchanges and crypto influencers are evaluated based on these metrics. One can also see the top 10 most talked about coins of the day, the ones where the cumulative metric has risen or fallen the most, the ones where the public sentiment is the most positive or negative etc.		In the crypto space, sentiment analysis is done based on metrics such as increase/decrease in mentions, engagements, clicks, shared links, the number of posts, number of contributors and the like. Different coins, exchanges and crypto influencers are evaluated based on these metrics. One can also see the top 10 most talked about coins of the day, the ones where the cumulative metric has risen or fallen the most, the ones where the public sentiment is the most positive or negative etc.