Author: Micah Bamigboye

NFTs and Web3 are in many ways intertwined. Most people associate NFT with art represented by a digital token and as an investment asset. But with Web3, NFTs are not just representing digital art. They could replace traditionally less secure medical records, providing more data privacy and be utilized in other areas of science. Use cases of NFT in science SECURE STORAGE AND TRANSFER OF INTELLECTUAL PROPERTY AND PATENTS Since the ownership of NFT tokens is only proved through the timestamps and the entire history of the IP, the same applies to patents and intellectual properties minted into NFTs. NFTs…

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NFTs are undoubtedly the new wave in the crypto space. In the past few months, a lot of channels have been opened for digital creators around the world to exhibit and monetize their work. A lot of people all over the world have benefited a whole lot from the NFT space either as the creator of the art or the buyer. When NFTs are purchased, their value fluctuates too just like the crypto market and some people purchase them because they are seen as a viable investment. Recently in Africa, the Ghana-based pallbearers sold one of their videos on OpenSea…

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Coin burning is the process in which the amount of a particular crypto-token in circulation is regulated and reduced. To reduce the number of tokens in circulation, the tokens which are meant to be burnt are sent to an unretrievable wallet which is also called eater addresses, blackholes or dead wallets. These crypto wallets are one-way wallets that can only receive assets and can’t send or reverse transactions. There is no private key linked to these wallets. Since there are no private keys linked to these wallets, these assets no longer exist as they have been permanently pulled out.  Hence…

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One of the major features of the crypto market is its volatility and its no error-free prediction. Over the years, its erratic trend has always been influenced by some factors. Some of these include the impact of Market Whales, global trends, the market cap (volume), scarcity in terms of mining, government regulation and even interest rates. Interest rates are a proportion of a loan that is charged as interest to the borrower over the period with which the loan is still running. These interest rates from time to time fall and increase. This movement affects the value of speculative assets…

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Over the years, cryptocurrencies have been stored and traded on different wallets and Exchanges. There are the centralized exchanges and the decentralized exchanges. Popular among these exchanges are; Binance, Kucoin, coinbase, Huobi, Gemini and Bitstamp. According to a report by cryptocompare, it has been established that top-tier exchanges have reached an all-time high market share as their market share has increased to 96% from 89%. And in the last six months, these top-tier exchanges have amassed an average trading volume of around 88% of all the trading in the cryptomarket. In February 2022, it was established that these top-tier exchanges…

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Lately, a lot of attention has been drawn to the NFT domain of The Cryptoverse. One of the major reasons there is an influx of people into the NFT world is because of its lucrativeness and quick profit-yielding prowess. Some of the other reasons include collectability, its usefulness in the gaming world, and its help to declining industries. As a result of its proliferation, a lot of scams in the NFT world are rampant. These scams take different forms and are well-orchestrated such that the victims are caught unawares. According to a report, $1.7 million worth of NFTs were stolen…

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WHAT IS THE ETHEREUM MERGE Ethereum is one of the largest and most popular cryptocurrencies in the crypto space and was the first to inaugurate the smart contract. But this network hasl its shortcomings which include its heavy congestion, the high gas fee and its high power consumption due to its high computerization. As a means of providing a lasting solution to this problem, The Ethereum Merge comes in. The Merger is the switch from Ethereum’s proof-of-work validation model to a proof-of-stake validation model. Currently, ETH is secured by a mainnet that runs parallel to the proof-of-work. But this merger…

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