Crypto Guides, Knowledge & Insights

Ethereum has surpassed Bitcoin, climbing by about 100%.

On June 19, Bitcoin fell to a bottom of $17,601; since then, it has increased by about 31%. Ether also saw a similar bottom on June 19 at $880.93, but since then, it has soared by 106%. Since both cryptocurrencies low points in June 2022, Ether has overtaken Bitcoin. One main reason for the stark performance differences between the two cryptocurrencies is the recent significant upgrade to the Ethereum network—investors expect a “merge,” and an update to the Ethereum blockchain is what causes Ethers yield in superior profits. 　　After multiple delays, the “merge,” is finally scheduled for September 15th. A concept known as proof-of-stake will replace the blockchains current “proof-of-work” approach. Supporters claim that the change will speed operations and reduce energy consumption on the Ethereum network. 　　A blockchain that markets itself as being energy efficient will always get the attention of the general public, and thats why Ether has the wind in its sails heading to the Merge, a transition to proof of stake. Vivek Raman, an Ethereum expert, is confident that Ethereums impending switch to a proof-of-stake (PoS) mechanism would allow it to overtake Bitcoin (BTC) as the most widely used cryptocurrency.　　Last week, Ethereum ranked 1 via WikiBit‘s

2022-08-29Deep Dive

Polkadot (DOT) Review: The MOAB (Mother of All Blockchains)

Polkadots initial development and Proof of Concept (PoC) design first emerged over 4 years ago, when the project was still relatively unknown to crypto enthusiasts and institutional investors, but it has since proven to be one to watch. Polkadot, in fact, has built an extremely reputable ecosystem of top-tier developers, architects, and project leaders since 2016, has created a sophisticated future roadmap, and has experienced exponential growth, allowing it to secure a spot among the Top 10 most valuable cryptocurrencies in 2021.　　Polkadot has clearly taken over the cryptocurrency markets and shows no signs of slowing down anytime soon. Polkadots momentum is likely to continue as the project nears the end of its roadmap with the implementation of Parachains, the Rococo Testnet, and the impending upgrades to its native Cross-Chain Message Passing (XCMP) system.　　Polkadot has been described in a variety of ways, including the tired label of a “Ethereum killer” cryptocurrency. While its founder insists that Polkadot is not a competitor to Ethereum, a closer look at Polkadot reveals that it is not only a serious competitor to Ethereum, but also a cryptocurrency that has the potential to completely transform the cryptocurrency world.　　Origins of Polkadot　　Polkadots history begins with Ethereum, specifically with

2022-08-28Deep Dive

The Future of Cryptocurrency

Since their all-time highs in late 2021, bitcoin and Ethereum have dropped more than 50%. The cryptocurrency market as a whole remains mainly stagnant, despite some minor increases in recent weeks. Nobody is certain, but some analysts believe that before a sustainable upswing, cryptocurrency values may fall considerably more.　　In 2021, bitcoin prices reached a number of new all-time highs, were heavily discounted afterward, and more institutional investment came from significant corporations. Late last year, the second-largest cryptocurrency, Ethereum, also reached a new record high. However, in June, it fell to its lowest point since the beginning of 2021, below $900. 　　Long-term forecasting is challenging, but in the near future, industry professionals will be watching developments like institutional acceptance of crypto payments and regulation to attempt and gain a better understanding of the business.　　New Regulations. Expect ongoing discussions on cryptocurrency regulation as lawmakers continue to consider how to enact laws and regulations that would make bitcoin better for users and less tempting to hackers.　　U.S. government representatives have expressed a strong interest in stablecoin regulation, particularly in light of the most recent Terra Luna crash.　　Federal officials now have even more ammunition to argue for crypto regulation because of the ripple effect of

2022-08-26Deep Dive

Uniswap Review: Advantages and Disadvantages

An automated liquidity protocol is used by the well-known decentralized trading protocol known as Uniswap to enable the establishment of specific markets for any pair of assets.Another name for Uniswap is a decentralized exchange, and it is well recognized for serving as a conduit for automated trade or decentralized financing tokens. Software developer Hayden Adams founded it, and it was made available as an ERC-20 token on the Ethereum Network in November 2018. One of the largest and improving decentralized cryptocurrency exchanges is Uniswap. It enables convenient cryptocurrency token exchange without requiring account registration. You cannot, however, purchase or sell cryptocurrency with it.　　Here are Uniswaps advantages and disadvantages to know more!　　Advantages　　User-friendly Feature. Some cryptocurrency exchanges are difficult to use and have clumsy designs. Because of its layout, Uniswap was one of the first widely used decentralized exchanges. It doesnt take long to figure out how to utilize the Uniswap app because it is so user-friendly. Connecting a cryptocurrency wallet, exchanging one cryptocurrency for another, or adding your cryptocurrency to a liquidity pool is simple.　　Version 3 Upgrade. At the same time that Ethereums mainnet launched on May 5, 2021, Uniswap published Version 3. The team behind Uniswap has stated that it

2022-08-26Deep Dive

Best Undervalued Cryptocurrencies of 2022

The number of coins in the crypto-verse currently exceeds 20,000. Confusion over which cryptocurrencies to invest in is understandable given the abundance of possibilities in the cryptocurrency market. Investing in cryptocurrencies always carries some risk, whether you want to spread your money across numerous coins or just one, but by picking undervalued coins you may minimize that risk and increase your returns.　　Here is a list of prospective discounted cryptocurrencies, albeit it may still be too early to tell which one will increase your profits.　　Tezos (XTZ). Tezos is a blockchain network built on smart contracts, much like Ethereum. There is a sizable difference, though. Tezos aspires to provide more advanced infrastructure than Bitcoin and Ethereum, which implies it may expand and improve in the future. Numerous businesses have chosen Tezos for NFT and other initiatives, including Manchester United, Gap, Red Bull Racing, Honda, and Ubisoft.　　Recent collaborations with Tezos could serve as springboards for further adoption. While waiting, you can stake tezos coins on a number of exchanges, like Coinbase and Kraken, to make passive revenue.　　Theta (THETA). Specifically designed for streaming video, the blockchain-based Theta network was established in 2018. Users trade processing power and bandwidth on the peer-to-peer blockchain network known

2022-08-26Deep Dive

Sketchy Crypto Exchange? WikiBit Is Here To Help!

More people will invest in the Metaverse in 2022, boosting cryptocurrency and blockchain. Scammers have created fake cryptocurrency trading websites and wallet apps while most of us are still learning how it works. They set up fake cryptocurrency trading platforms and wallets to defraud victims. These spammy links have similar but slightly different domain names than legitimate ones, making it hard to tell. Some copycat websites appear high in search results and look just like the real ones. What to do with sketchy Cryptocurrency platforms？ Tell it via WikiBits Exposure section!　　WikiBit provides blockchain exchange/token/project information questions, word-of-mouth comments, complaint and rights safety, potential exposure, and credit evaluation. This kind of application serves as a guide to those who want to invest in cryptocurrency but dont have an idea how. 　　It also serves as a fact-checking platform to know if an exchange that youre investing in is legit and regulated. It lessens the possibility of you getting scammed in the crypto world.　　On the WikiBit website, you can search up the validity of potential tokens or exchanges that youd want to buy or buy from. You can look up the market cap, price, and supply for tokens while you are the regulatory

2022-08-25Deep Dive

Long-term Cryptocurrencies To Invest in 2022

These days, cryptocurrency hardly qualifies as a speculative investment. Both individual and institutional investors are seriously considering investing in digital assets. Investors are perceiving digital currencies as valuable for both long-term investment and short-term earnings because there is so much activity surrounding them. But which ones ought you to pick for your investments？ Wikibit covers a few cryptocurrency coins that consistently rank at the top of market cap rankings in order to make it simpler for you. These might make good long-term investment alternatives given their relative stability.　　Polkadot. Since its introduction in 2020, Polkadot has grown to be one of the best long-term cryptocurrencies to invest in, with a market worth of approximately $8.58 billion. Its a coin and a blockchain network on which programmers can create novel, decentralized solutions. The purpose of Polkadot is to link different separate blockchains into a single, cohesive network and potentially start new chains. It is now simpler to move digital assets like apps and tokens between blockchains thanks to the integration, which gives users access to the networks proof-of-stake security and transaction validation. A recent version makes it easier for assets to move among Polkadot parachains and promotes communication, opening the network to

2022-08-25Deep Dive

Why Can’t All Crypto Switch to Staking?

The concept of staking in bitcoin has become one of the most discussed aspects of owning and earning from digital assets, thanks in part to the capacity to generate yields higher than bank savings interest rates.　　The term “staking” refers to a Proof-of-Stake mechanism for verifying transactions and securing blockchain networks (PoS). PoS seeks to improve on the original Proof-of-Work technique utilized by Bitcoin (PoW). Only PoS-based crypto can be staked.　　Despite the lauded advancements, not all cryptocurrencies use staking or have switched to a staking mechanism. Bitcoin, in particular, does not appear likely to make the changeover in the near future.　　The cause behind this is discussed in this article. You will discover:　　Issues surrounding Bitcoins Proof-of-Work consensus mechanism　　The advantages and disadvantages of staking over Bitcoins Proof-of-Work consensus mechanism　　Why Bitcoin may never switch to staking　　Proof-of-Stake as an alternative to Proof-of-Work　　Bitcoin and Proof-of-Work　　Because of a simple yet smart idea known as Proof-of-Work, Bitcoin was the first blockchain-based commodity to attain public awareness and widespread adoption as a safe digital money (PoW).　　PoW gave a solution to a long-thought-unsolvable coordination problem known as the Byzantine Generals problem.　　Several generals are besieging Byzantiums old city. They triumph when they attack collectively. They will fail if they attack at

2022-08-25Deep Dive

4 Best Cryptocurrencies of August

Cryptocurrency is digital money uncontrolled by a government. Alternatively, it is built on the most widely used blockchain technology. Over 20,000 cryptocurrencies are available on the market right now, A growing number of possibilities are becoming accessible as the digital currency continues to gain popularity on the Stock Market. 　　Most people view cryptocurrencies as long-term assets, though you can buy things with them. The recent collapse across cryptocurrencies, including stablecoins linked to the U.S. dollar, illustrates how unpredictable cryptocurrencies make investing in them perilous. Before you invest, its critical to understand the crypto space first.　　Users can evaluate and assess the possibilities and costs of their target assets before deciding which cryptocurrency to purchase in 2022—for reference, you might want to check out the 4 best Cryptocurrencies of August!　　1. Bitcoin　　The oldest cryptocurrency, Bitcoin, has existed for the longest. It‘s simple to understand why it’s the frontrunner, with a market value and price valuation thats significantly higher than any other crypto investment possibilities. 　　Bitcoin is a wise investment because so many companies currently accept it as payment. For instance, Visa accepts bitcoin transactions. Additionally, after a four-year absence from cryptocurrencies, Stripe will now allow users to make bitcoin payments. As Bitcoin has

2022-08-25Deep Dive

5 Reasons Why Chainlink Is A Good Investment

Among other cryptocurrencies like Ethereum and XRP, Chainlink (LINK) has consistently outperformed them during the 2017 crypto boom. In the course of the previous bear market, the tokens value went up gradually from its initial value of roughly $0.11 to an all-time high of $52.88. However, Chain Link recently experienced some depreciation, just like the wider crypto space.　　The question is, is Chainlink a worthwhile choice or simply another overvalued token？ Here is the scoop about investing in the Link. 　　Chainlinks Background　　Chainlink is a blockchain initiative that aims to incorporate hard data into smart contracts. The appropriately called Chainlink is an intelligence chain that essentially bridges blockchains to the outside world by serving as the intermediary between smart contract platforms and external sources of data by giving trustworthy, factual info to smart contract systems.　　Is Chainlink a Good Investment？　　Chainlink‘s claim to incorporate real-world data onto Ethereum provides a whole new universe of prospective applications for Ethereum’s smart contracts. More and more possible uses will become economically feasible as these networks expand and make access more affordable.　　Even more recent than the still-emerging blockchain tech is decentralized finance. The worth that Chain Link might later offer the world has no intrinsic boundaries. Chainlink will

2022-08-24Deep Dive

...

201203

...

736