Best printers for Home

Best Mixer Grinder

Best wired Earphones

Best 43 Inch TV in India

Best Wi Fi Routers

Best Home Theatre in India

Smart Watch under 5000

Best Laptops for Education

Best Laptop for Students

<ul><li>Web3 tokens are those that will be used to power decentralised apps (DApps).</li><li>Web3 tokens are built on platforms like Ethereum, but usually have their own platforms associated with them.</li><li>The top web3 tokens are those that are meant to bridge today’s web2 solutions with tomorrow’s DApps.</li></ul>The term “web3” may have originated less than a decade ago, but its implications are far reaching. While the first generation of the internet (web1) was driven by singular websites, the second generation (web2) saw the rise of platforms — like Facebook or Instagram — the third generation (web3) will be driven by decentralised services, or DApps. And powering every DApp is a crypto token that powers the respective service. There are two ways to look at web3 tokens. On the one hand you have crypto platforms like Bitcoin or Ethereum, which are being used to build new apps. However, a web3 platform that seeks to make a real impact will usually have its own token too. For example, decentralised games like Decentraland come with the Mana token, while lending platform MakeDAO has a token called DAI. <cmsannotation type="cmsannotation" annotationid="wazirx" comment="wazirx" text="wazirx">wazirx</cmsannotation> Here are five of the most important web3 tokens worth watching today: <cmsannotation type="cmsannotation" annotationid="Polkadot" comment="subhead" text="Polkadot">Polkadot</cmsannotation> <div type="image" title="5" msid="89076904" hostid="261" caption="&amp;lt;p&amp;gt;Polkadot&amp;lt;/p&amp;gt;"></div> Simply put, Polkadot is a blockchain platform designed to connect different blockchains. It facilitates interoperability between Ethereum, Bitcoin and other blockchain platforms. But before we get to that, let’s talk about its inception. Polkadot was founded by Gavin Wood, one of the founders of Ethereum, which is also one of the reasons why so many people put their faith in this token. At the time of writing, <a href="https://wazirx.com/signup?invite=2kpah6gr&amp;utm_source=business-insider&amp;utm_medium=referral&amp;utm_campaign=article-advertorial">WazirX</a> listed the token at ₹ 2225. According to Coinmarketcap, the DOT token has a market cap of over $1.3 billion. Polkadot’s design splits the platform into the main — or “relay chain” — and parallel chains, which are also called “parachains.” These parachains are responsible for connecting to other platforms. So, someone building a decentralised finance (DeFi) app can build the platform on the relay chain, and use the side chains to connect and interact with other DeFi solutions. The first five parachains went live in December leading Polkadot to reach an<a href="https://www.businessinsider.in/cryptocurrency/news/polkadot-hits-a-new-all-time-high-of-51-ahead-of-its-very-first-parachain-auctions-getting-approved/articleshow/87484392.cms"> all-time-high</a> of $51 at the end of 2021. Other than the fact that Polkadot is backed by Wood and the Web3 Foundation, interoperability, sustainability and scalability are some of the main reasons why this token and its underlying platform is expected to power many future web3 services, according to its proponents. <cmsannotation type="cmsannotation" annotationid="Filecoin" comment="subhead" text="Filecoin"><keyword id="10952238" type="General" weightage="20" keywordseo="filecoin" source="Orion">Filecoin</keyword></cmsannotation> <div type="image" title="1" msid="89077093" hostid="261" caption="&amp;lt;p&amp;gt;Filecoin&amp;lt;/p&amp;gt;"></div> Polkadot was launched in 2020 and in some ways is yet to be proven. However, there’s an older and somewhat easier to understand one that you can follow. And, it’s called Filecoin. Like other web3 tokens, Filecoin too will power services in the third generation of the internet, but unlike the others, it hits directly at the core of today’s web2 business models. Experts, critics and users have often argued that big tech firms like Facebook, Google and Microsoft wield so much power simply because the majority of the world’s important and sensitive data is processed on their servers and stored in their data centres. Which is what Filecoin aims to intervene. This decentralised storage network began in 2014, and has since powered many web3 apps. The idea behind Filecoin is simple — get users to join the network and share the storage space on their devices so that data can be stored over a decentralised, and potentially global network. The idea actually has been explored in HBO’s hit show Silicon Valley with DApp called ‘PiedPiper’. None of the users actually own any of the data, and no one user has access to all of it either. Since Filecoin has built a huge network of its own, it now offers this as a sort of a data centre solution for developers who don’t want to depend on traditional web2 storage. The FIL token powers the network. It is what Filecoin offers to those who are letting others use their storage, and its price stood at ₹2,430 on <a href="https://wazirx.com/signup?invite=2kpah6gr&amp;utm_source=business-insider&amp;utm_medium=referral&amp;utm_campaign=article-advertorial">WazirX</a> at the time of writing. The more platforms that use Filecoin, the more the chances of FIL increasing its already large $318 million market cap. <cmsannotation type="cmsannotation" annotationid="Arweave" comment="subhead" text="Arweave"><keyword id="13016306" type="General" weightage="20" keywordseo="arweave" source="Orion">Arweave</keyword></cmsannotation> <div type="image" title="2" msid="89077110" hostid="261" caption="&amp;lt;p&amp;gt;Arweave&amp;lt;/p&amp;gt;"></div> Like Filecoin, Arweave is also a decentralised storage solution. In the company’s own words it’s “a collectively owned hard drive that never forgets”. Like Filecoin, ARWeave charges other services, users and companies a fee to use its decentralised storage solution. The upfront fee is where ARWeave sort of differs from Filecoin. It promises that a single GB of data will be stored forever. For those providing this storage, the cost of storage falls with time, as more and more data is stored. Which makes it worth it for them too. The AR token was priced at just under ₹4000 at the time of writing and its market capitalisation stood at about $24 million. <cmsannotation type="cmsannotation" annotationid="BitTorrent" comment="subhead" text="BitTorrent"><keyword id="280892" type="General" weightage="20" keywordseo="bittorrent" source="Orion">BitTorrent</keyword></cmsannotation> <div type="image" title="3" msid="89077187" hostid="261" caption="&amp;lt;p&amp;gt;BitTorrent&amp;lt;/p&amp;gt;"></div> BitTorrent was a poster boy for the decentralised web long before the concept emerged. In fact, the foundation of peer-to-peer money like Bitcoin and many other concepts of decentralised technologies lies in torrents. Once known as a simple system used to pirate content, BitTorrent wasn’t a cryptocurrency when it formed back in 2001. That said, it is the 54th biggest cryptocurrency today, with a market capitalisation of over $2.5 billion. The part that might make it really lucrative to an investor though is that despite existing for such a long time, the BTT token was only worth ₹0.2 on WazirX at the time of writing. And that’s not because Bittorrent doesn’t have value. It’s because it’s new to the crypto world and its ‘to the moon’ moment is yet to occur, if at all. What BitTorrent has over any other web3 token though is a network that has been built over the past 21 years. It’s already the world’s largest file-sharing network, and it could use BTT token to plug into future web3 streaming services and more. <cmsannotation type="cmsannotation" annotationid="Theta Network" comment="subhead" text="Theta Network">Theta Network</cmsannotation> <div type="image" title="4" msid="89077224" hostid="261" caption="&amp;lt;p&amp;gt;Theta Network&amp;lt;/p&amp;gt;"></div> Speaking of tokens that can be useful for streaming and content firms, the Theta Network is yet another one to watch. At the time of writing, this token had a market capitalisation of over $4 billion and was the 40th largest crypto token by market capitalisation, according to Coinmarketcap. Investors can trade the THETA token on WazirX against USDT. At the time of writing, THETA was priced at $3.99. Theta Network is a blockchain platform that’s designed for video delivery networks. Video delivery platforms today, from Netflix to Amazon, Hulu and more, all depend on a centralised delivery network. Which means that all the content resides in their own data centres. Theta Network is somewhat like Filecoin, and aims to break this network down to a decentralised nature. Some of the biggest tech companies today, including Sony, Samsung and Google, have partnered with Theta already. It is one of the main reasons why people believe in the possible real world use-cases this network could have in future. All five of the above web3 tokens can be traded on crypto exchanges, including one of the leading players in India, <a href="https://wazirx.com/signup?invite=2kpah6gr&amp;utm_source=business-insider&amp;utm_medium=referral&amp;utm_campaign=article-advertorial">WazirX</a>. Disclaimer: This is a sponsored post in partnership with WazirX. Do your own research (DYOR) before deciding to invest in any asset, cryptocurrency or otherwise.

Decentralised file sharing, movie streaming, and much more — these are top five Web3 cryptocurrencies to keep an eye on in 2022

<ul class="summary-list"><li>A new green cryptocurrency called <keyword id="3019433" type="PERSON" weightage="60" keywordseo="Chia">Chia</keyword> (XCH) is set to start trading on Monday, May 3.</li><li id="recirc">Chia uses "proof of space" and "proof of time" instead of <keyword id="6354947" type="UNKNOWN" weightage="60" keywordseo="bitcoin">bitcoin</keyword>'s "proof of work" to mint new coins.</li><li>The rise of Chia is already causing shortages and price increases at hard drive and SSD manufacturers. </li></ul>A new "green" cryptocurrency called Chia is set to start trading next week. It was created by Bram Cohen, the inventor of BitTorrent, and uses what's called "proofs of space and time" to "farm" rather than "mine" new coins.The model is a less energy-intensive method of producing digital assets compared to bitcoin's "proof of work" concept, which has led that currency to be criticized for using <a href="https://cbeci.org/cbeci/comparisons">as much energy</a> as some entire nations.Chia and the company behind it, <keyword id="11186768" type="UNKNOWN" weightage="60" keywordseo="chia-network">Chia Network</keyword>, have already attracted significant attention from investors.Chia Network boasts big-name backing from the likes of <keyword id="508487" type="PERSON" weightage="60" keywordseo="Andreessen-Horowitz">Andreessen Horowitz</keyword>, <keyword id="2067923" type="PERSON" weightage="60" keywordseo="Naval-Ravikant">Naval Ravikant</keyword>, and Cypherpunk Holdings, according to data from <a href="https://www.crunchbase.com/organization/chia-network/company_financials">Crunchbase</a>.The company also has attracted publicly traded crypto mining companies like <a href="https://markets.businessinsider.com/stocks/icbu-stock">iMD Companies</a>. "We're going all-in on Chia," Rick Wilson, iMD CEO, said in a <a href="https://www.globenewswire.com/news-release/2021/04/29/2219690/0/en/iMD-Companies-Inc-Focuses-Resources-on-Farming-of-Chia-Chia-net-Cryptocurrency-Coins-for-All-Facilities.html">recent press release</a>. "With our extensive research, we believe that Chia is here to stay and will be utilized on a global financial level. We believe our early decision to farm Chia will result in increased revenues for iMD."Chia Network released a <a href="https://www.chia.net/2021/02/10/chia-businesss-whitepaper.html">Business Whitepaper</a> describing its new cryptocurrency (XCH) on February 9 and launched "farming rewards" on March 19.Chia will begin transactions and trading on May 3.Here are six things to know about the new cryptocurrency before it starts trading.<h3>The 'proofs of space and time' model</h3>The "proofs of space and time" model is central to Chia's value proposition. The idea is that users, called "farmers," will "seed" their hard drives or solid-state drives (SSDs) with software that puts cryptographic numbers into specific "plots."These "plots" are then awarded with blocks from the <keyword id="6355684" type="PERSON" weightage="60" keywordseo="Blockchain">blockchain</keyword> based on the percentage of total space a farmer has compared to the entire network. Then a VDF server, known as a "Timelord," verifies that block, allowing the chain to move forward and awarding XCH to the farmer.Chia Network says the system will provide better security than <keyword id="2810876" type="PERSON" weightage="60" keywordseo="ethereum">Ethereum</keyword> and reduce the energy expenditure costs required by bitcoin's "proof of work" model.Read more: <a href="https://www.businessinsider.com/crypto-arbitrage-trading-strategy-alameda-research-sam-bankman-fried-billionaire-2021-4" target="_blank" rel="noopener">A 29-year-old self-made billionaire breaks down how he achieved daily returns of 10% on million-dollar crypto trades, and shares how to find the best opportunities</a><h3>Hard drive and SSD shortages and price increases</h3>Chia's "proofs of space and time" model may be an energy saver, but the method is already creating issues for hard drive and SSD suppliers.A recent report from <a href="https://www.digitimes.com/news/a20210427PD200.html">DigiTimes</a> revealed the Taiwanese memory and storage manufacturer Adata has seen a 500% increase in SSD orders since the start of April.The South China Morning Post also <a href="https://www.scmp.com/tech/big-tech/article/3130683/chinese-coin-miners-flock-new-cryptocurrency-chia-resulting-hard">reported</a> that Chinese e-commerce platforms, including <a href="https://markets.businessinsider.com/stocks/baba-stock">Alibaba's</a> Taobao and <a href="https://markets.businessinsider.com/stocks/jd-stock">JD.com</a>, have seen multiple models of enterprise-grade hard drives with large capacities selling out."Many people have inquired about large hard drives for Chia mining in the past few days," one customer service agent at a Taobao online told the South China Morning Post.The rise in hard drive and SSD sales is a result of the new requirements for storage to "farm" Chia.If the cryptocurrency ends up being anywhere near as popular as other altcoins, the business model could put real pressure on memory and storage manufacturers' supplies and pricing moving forward.<h3>A new transaction programming language</h3>Chialisp is Chia Network's new smart transaction programming language.The company says its language combines the best aspects of bitcoin's "UTXO model" and Ethereum's "Solidity model" to allow for more secure, less energy-intensive functionality.To learn more about Chialisp, check out Chia Network's <a href="https://www.chia.net/2019/11/27/chialisp.en.html">introduction to the language</a> posted by Bram Cohen back in 2019.<h3>No hard cap, and a strategic reserve to reduce volatility</h3>Chia Network doesn't have a hard cap on the total number Chia coins on its blockchain like bitcoin does. Instead, the company prefers a predictable, continuous form of inflation."Being able to directly calculate a shared expectation of the total supply at any given time gives much the same financial and peace of mind benefit," the company's white paper notes.Chia Network also holds a strategic reserve of 21 million XCH, in a nod to bitcoin, that it will use to reduce the volatility of its coin and mitigate any potential crashes.Read more: <a href="https://www.businessinsider.com/how-to-trade-crypto-price-momentum-ethereum-prediction-bitcoin-3000-2021-4" target="_blank" rel="noopener">A crypto technical analyst breaks down why ethereum is set to rise to $3,000 and is a better investment than bitcoin right now - and explains how he analyzes when to buy a cryptocurrency</a><h3>Going public and embracing regulation</h3>Unlike many other cryptocurrency offerings, Chia has a formal company behind it, and they intend to go public."We hope to file and list our equity in the next six to 12 months," Gene Hoffman, the CEO and President of Chia Network <a href="https://decrypt.co/68617/home-mining-crypto-chia-sparks-hard-drive-shortage-ahead-of-trading-debut">told Decrypt</a>.Not only that, but Chia Network has also said it will embrace regulation because management has seen "scams and farces" in the space hurt investors."It should not be controversial that investors deserve protection through public disclosure and certainly the public shouldn't be sold investments without that legally required transparency," the company's whitepaper states.<h3>An at-home farming push</h3>Bitcoin mining has become increasingly difficult for at-home miners due to the expansion of publicly-traded mining companies like <a href="https://markets.businessinsider.com/stocks/riot-stock">Riot Blockchain</a> and <a href="https://markets.businessinsider.com/stocks/mara-stock">Marathon Digital Holdings.</a> These companies use ASIC miners that have greater computing power than the average at-home miner could afford. This has made it so the rewards for mining bitcoin at home no longer make financial sense for many miners, especially when energy costs are considered.With Chia, that could change. At-home users will have the capability to compete to earn XCH by "seeding" their SSDs or hard drives and, at least for now, the lack of competition should allow for a more profitable experience.Chia is also a very accessible cryptocurrency. Gene Hoffman, the CEO and President of Chia Network, says it was designed that way on purpose."It is super simple. Just download the Mac or Windows version and double click," Hoffman <a href="https://www.coindesk.com/5-takeaways-from-chia-networks-new-white-paper">told CoinDesk</a>. "I'm pretty sure this will be the easiest cryptocurrency to validate for normal people ever."New <keyword id="2420795" type="PERSON" weightage="60" keywordseo="cryptocurrencies">cryptocurrencies</keyword> are a dime a dozen, but it's rare to see big-name investors in the crypto space come together with top developers to address a common criticism of crypto, rising energy consumption.While no one can say whether or not Chia will be a success, it's clear the cryptocurrency is offering something that most new altcoins don't with its "proofs of space and time" model.To learn more about Chia, check out the company's <a href="https://www.youtube.com/watch?v=9P0vaux2h6o&amp;t=450s450s">business white paper zoom meeting</a> from February 11.

A new green cryptocurrency called Chia uses a less energy-intensive method of minting new coins. Here are 6 things to know about the digital asset before it starts trading on Monday.

<ul><li>While <keyword id="11893902" type="UNKNOWN" weightage="60" keywordseo="bitcoin" source="Orion">bitcoin</keyword> and <keyword id="11896271" type="UNKNOWN" weightage="60" keywordseo="ether" source="Orion">ether</keyword> dominate the headlines, there are more than 15,000 other <keyword id="11893898" type="UNKNOWN" weightage="60" keywordseo="crypto" source="Orion">crypto</keyword> coins.</li><li>With less liquidity and more volatility, these alternative <keyword id="11895317" type="UNKNOWN" weightage="60" keywordseo="cryptocurrencies" source="Orion">cryptocurrencies</keyword> can deliver investors massive losses or gains in a short period of time.</li><li>These are the five best performing cryptocurrencies over the past week, according to data from CoinMarketCap.</li></ul>Bitcoin's ongoing bear market has sucked the life out of many popular cryptocurrencies, with the total crypto market capitalization falling from $3 trillion to $2.2 trillion over the past month. But other cryptocurrencies are performing just fine despite the shift to risk-off.With 15,498 cryptocurrencies in existence and counting, there are more than triple the number of crypto coins than there are US exchange-listed stocks. That large amount makes it nearly impossible to keep track of all the big movers in the crypto sector outside of well known coins like <a href="https://markets.businessinsider.com/currencies/btc-usd">bitcoin</a>, <a href="https://markets.businessinsider.com/currencies/eth-usd">ether</a>, and <a href="https://markets.businessinsider.com/currencies/doge-usd">dogecoin</a>.The surge in new crypto coins has come amid a massive bull market for the space in 2021, with a recent rally in bitcoin helping catapult the sector <a href="https://markets.businessinsider.com/news/currencies/ether-price-bitcoin-record-crypto-market-cap-cameron-tyler-winklevoss-2021-11">to a near-$3 trillion market valuation.</a> But the rise is also being driven by smaller coins that have seen extraordinary surges this year, including solana, cardano, and shiba inu. With less liquidity and more volatility, these alternative cryptocurrencies can deliver investors massive losses or gains in a short period of time. Shiba inu is down about 40% from its recent high, despite <a href="https://markets.businessinsider.com/news/currencies/crypto-investor-turned-8000-into-5-billion-buying-shiba-inu-2021-10">being up millions of percentage points</a> year-to-date. Meanwhile, <a href="https://markets.businessinsider.com/news/currencies/the-squid-game-token-scam-website-socials-offline-coingecko-crypto-2021-11">squid game token fell 99%</a> in a single day after delivering swift gains of 75,000%.Keeping an eye on the weekly winners can help investors identify which coins are beginning to see increased traction in the crypto community.These are the five best performing cryptocurrencies with a market value of more than $1 billion over the past week <a href="https://markets.businessinsider.com/news/currencies/bitcoin-price-technical-outlook-btc-58000-support-crypto-katie-stockton-2021-11">despite a decline in bitcoin and ether</a>, according to <a href="https://coinmarketcap.com/">data from CoinMarketCap.</a>5. CelsiusSymbol: CEL Market Value: $1.0 billion 7-Day Performance: 1.9%<div type="image" title="Celsius price chart" height="497" width="943" msid="88213686" hostid="261"></div>4. UNUS SED LEOSymbol: LEO Market Value: $3.5 billion 7-Day Performance: 3.4%<div type="image" title="UNUS SED LEO price chart" height="491" width="940" msid="88213687" hostid="261"></div>3. Huobi TokenSymbol: HT Market Value: $1.6 billion 7-Day Performance: 4.5%<div type="image" title="Huobi price chart" height="497" width="941" msid="88213688" hostid="261"></div>2. BitTorrentSymbol: BTT Market Value: $3.2 billion 7-Day Performance: 4.6%<div type="image" title="BitTorrent price chart" height="496" width="942" msid="88213689" hostid="261"></div>1. NEAR ProtocolSymbol: NEAR Market Value: $5.4 billion 7-Day Performance: 7.0%<div type="image" title="NEAR Protocol price chart" height="498" width="943" msid="88213690" hostid="261"></div>

Amid bitcoin bear market, these are the 5 best performing cryptocurrencies over the past week

<ul><li><keyword id="2420795" type="PERSON" weightage="60" keywordseo="cryptocurrencies">Cryptocurrencies</keyword> have been on a tear so far in 2021, with <keyword id="6354947" type="UNKNOWN" weightage="60" keywordseo="bitcoin">bitcoin</keyword> up more than 100% year-to-date.</li><li>The Coinbase direct listing, the appointment of crypto-friendly Gary Gensler as SEC chairman, and celebrity endorsements have all helped foster a bullish environment for the digital coins.</li><li>Listed below are the 10 top performing cryptocurrencies so far in 2021 - one of which is up more than 8,000%.</li><li><a href="https://newsletter.businessinsider.com/join/4np/10-things-opening-bell?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingests&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest" target="_blank" rel="noopener">Sign up here for our daily newsletter, 10 Things Before the Opening Bell</a>.</li></ul>Cryptocurrencies have been all the rage in 2021, with bitcoin up more than 100% year-to-date as a bullish backdrop pushes the digital coin higher.The bullish environment in <keyword id="2721952" type="PERSON" weightage="60" keywordseo="crypto">crypto</keyword> has been spurred by a number of factors, including the public <a href="https://markets.businessinsider.com/news/stocks/coinbase-stock-price-ipo-direct-listing-trading-debut-cryptocurrency-platform-2021-4-1030304997">trading debut of Coinbase, which was briefly valued at more than $100 billion</a>, and the appointment of <a href="https://www.businessinsider.com/bitcoin-biden-administration-cryptocurrency-win-over-community-2021-1">crypto-friendly Gary Gensler as SEC chairman.</a>Celebrity endorsements of certain cryptocurrencies have also helped boost the price of certain coins, with Tesla CEO Elon Musk and <a href="https://markets.businessinsider.com/currencies/news/dogecoin-price-doge-doubles-market-cap-18-billion-btc-coinbase-2021-4-1030304744">Food Network TV host Guy Fieri tweeting support for Dogecoin,</a> a meme-inspired cryptocurrency <a href="https://www.businessinsider.com/dogecoin-go-back-down-right-now-price-livee-billy-markus-2021-4#:~:text=Dogecoin's%20cocreator%20explains%20how%20the,into%20a%20billion%2Ddollar%20movement&amp;text=Dogecoin%20has%20exploded%20in%20value,the%20cryptocurrency%20as%20a%20parody.0parody.">that was started as a joke in 2013.</a>Government stimulus checks and easy monetary policy from the Fed have also <a href="https://markets.businessinsider.com/currencies/news/stimulus-checks-bitcoin-btc-stock-market-outlook-mizuho-says-2021-3-1030207913">likely contributed to the spectacular rise in cryptocurrencies this year,</a> as investors continue to seek out investment opportunities based on their risk profile.Whether the strong performance will last remains to be seen, but for now, it's hard to look away.Read more: <a href="https://www.businessinsider.com/crypto-arbitrage-trading-strategy-alameda-research-sam-bankman-fried-billionaire-2021-4" target="_blank" rel="noopener">A 29-year-old self-made billionaire breaks down how he achieved daily returns of 10% on million-dollar crypto trades, and shares how to find the best opportunities</a> Listed below are the top 10 performing cryptocurrencies with a market valuation of more than $5 billion so far in 2021 - one of which is up more than 8,000%.10. FilecoinTicker: FIL YTD Performance: 657% Market value: $12 billion<div type="image" title="filcoin.JPG" height="426" width="832" msid="82109272" hostid="261"></div>9. IOTATicker: IOT YTD Performance: 686% Market value: $7 billion<div type="image" title="iota charttt.JPG" height="529" width="664" msid="82109273" hostid="261"></div>8. CardanoTicker: ADA YTD Performance: 703% Market value: $46 billion<div type="image" title="card.JPG" height="529" width="671" msid="82109275" hostid="261"></div>7. VeChainTicker: VET YTD Performance: 804% Market value: $13 billion<div type="image" title="vechain.JPG" height="371" width="786" msid="82109276" hostid="261"></div>6. FTX TokenTicker: FTT YTD Performance: 830% Market value: $5 billion<div type="image" title="tfxxx.JPG" height="373" width="783" msid="82109278" hostid="261"></div>5. Binance CoinTicker: BNB YTD Performance: 1,260% Market value: $79 billion<div type="image" title="bnbb.JPG" height="531" width="668" msid="82109279" hostid="261"></div>4. SolanaTicker: SOL YTD Performance: 1,602% Market value: $7 billion<div type="image" title="sols.JPG" height="377" width="787" msid="82109281" hostid="261"></div>3. TerraTicker: LUNA YTD Performance: 2,348% Market value: $6 billion<div type="image" title="terrrr.JPG" height="368" width="786" msid="82109283" hostid="261"></div>2. BitTorrentTicker: BTT YTD Performance: 2,500% Market value: $5 billion<div type="image" title="coindesk.JPG" height="423" width="837" msid="82109285" hostid="261"></div>1. <keyword id="1985091" type="PERSON" weightage="60" keywordseo="dogecoin">Dogecoin</keyword>Ticker: DOGE YTD Performance: 8,039% Market value: $45 billion<div type="image" title="dogeee.JPG" height="527" width="674" msid="82109286" hostid="261"></div>*Pricing data is as of Friday afternoon and sourced from YCharts.

These are the 10 best-performing cryptocurrencies so far in 2021 - and one is up more than 8,000%

<ul class="summary-list"><li>Seagate and Western Digital are the unlikely beneficiaries of a new cryptocurrency called <keyword id="3019433" type="PERSON" weightage="60" keywordseo="Chia">Chia</keyword>.</li><li>The digital asset uses a technique called "proofs of space and time" to mint new coins on computer storage solutions.</li><li>The result has been meteoric price increases for hard drives and solid-state drives around the world.</li></ul>Shares of data storage manufacturers <a href="https://markets.businessinsider.com/stocks/stx-stock">Seagate Technology</a> and <a href="https://markets.businessinsider.com/stocks/wdc-stock">Western Digital</a> have been soaring in recent weeks despite falling tech shares.The rise comes amid a jump in demand for hard disk drives (<keyword id="1612002" type="PERSON" weightage="60" keywordseo="hdds">HDDs</keyword>) and solid-state drives (SSDs) from the companies after the launch of a <a href="https://markets.businessinsider.com/currencies/news/green-cryptocurrency-chia-less-energy-intensive-bitcoin-crypto-ethereum-altcoins-2021-4-1030373374">new green cryptocurrency called Chia</a> at the beginning of May.Chia was founded by BitTorrent creator Bram Cohen and claims to offer a more eco-friendly option for investors than crypto leaders like <a href="https://markets.businessinsider.com/currencies/btc-usd">Bitcoin</a> or <a href="https://markets.businessinsider.com/currencies/eth-usd">Ethereum</a>.Unlike Bitcoin, which is "mined" using "proof of work," Chia is "farmed" using a system called "proofs of space and time" to mint new coins.The method is more energy-efficient, but it also requires a lot of hard disk or solid-state storage.Tom's Hardware released an <a href="https://www.tomshardware.com/news/analysis-hdd-prices-skyrocket-high-capacity-hdds-sold-out">in-depth analysis</a> detailing just how much prices for hard disk drives and solid-state drives have increased in recent weeks after the launch of Chia.The company found that low-end hard drives and SSDs only moderately increased in price over the past few weeks while storage solutions with capacities over 10 terabytes saw their prices jump substantially.The news follows <a href="https://www.scmp.com/tech/big-tech/article/3130683/chinese-coin-miners-flock-new-cryptocurrency-chia-resulting-hard">data out of China</a> from the South China Morning Post that showed a massive increase in spending on HDDs and SSDs at Chinese e-commerce retailers like JD.com, Alibaba, and Pinduoduo in anticipation of Chia's launch.Not only does Chia require large amounts of storage to "farm," but according to <a href="https://www.pcgamer.com/chia-mining-can-wreck-a-512gb-ssd-in-as-little-as-6-weeks/">reports out of PC Gamer</a>, farming the cryptocurrency can burn out a 512GB SSD in just 40 days.Chia's creator Bram Cohen <a href="https://twitter.com/bramcohen/status/1393988621921701889">took to Twitter</a> to defend his cryptocurrency from what he called "fashionable FUD(fear, uncertainty, and doubt)" surrounding SSD burnouts after the PC Gamer article was released.Cohen said plotting on hard drives and enterprise-class SSD's is no problem for Chia farmers, but warned no one should "plot on consumer SSDs" or they should "only do a little bit of plotting with each SSD."In response to this new wave of demand for SSDs and hard drives-and the potentially short life-spans of these storage solutions if they are used to farm Chia-investors are flocking to the largest suppliers. Seagate shares traded up as much as 8.25% on Monday, while Western Digital traded up as much as 7.75%.

Seagate and Western Digital stocks are on fire as the new cryptocurrency Chia continues to propel a hard-drive shortage

<ul><li><keyword id="11279478" type="COMPANY" weightage="20" keywordseo="chiacoin">Chiacoin</keyword>’s unique selling point is farming, a substitute for mining that does not pollute the <keyword id="6356826" type="UNKNOWN" weightage="20" keywordseo="ENVIRONMENT">environment</keyword>.</li><li>Miners use hard drives to allocate as much space as possible for farming.</li><li>The idea is to reduce electricity consumption as much as possible and lower inequality in mining. </li></ul>The <keyword id="6357017" type="DEFINITION" weightage="20" keywordseo="cryptocurrency">cryptocurrency</keyword> world has been highly turbulent last week as Tesla’s chief executive Elon Musk announced <keyword id="6354947" type="UNKNOWN" weightage="20" keywordseo="bitcoin">Bitcoin</keyword> payments were being stopped. <a href="https://wazirx.com/signup?invite=2kpah6gr&amp;utm_source=business-insider&amp;utm_medium=referral&amp;utm_campaign=microsite">Bitcoin</a> instantaneously fell in value by almost 20%. While the ripples were felt on other cryptocurrencies, enthusiasts were extremely concerned about bitcoin's short-term future. Environmental concerns have always haunted bitcoin, and Musk, being a green-energy champion, was open about his reservations about the cryptocurrency. But here's a new concept in town, and it promises to be environmentally friendly. Chia is a blockchain and intelligent transaction platform that aims to provide all the benefits of a standard <a href="https://wazirx.com/signup?invite=2kpah6gr&amp;utm_source=business-insider&amp;utm_medium=referral&amp;utm_campaign=microsite">cryptocurrency</a> -- decentralisation, efficiency, and security. But its unique selling point is farming -- a substitute for mining that does not pollute the environment. It was launched in 2017, but was relatively low-key in the mainstream media. The Chia Network was founded by US-based computer programmer Bram Cohen who also invented the peer-to-peer file-sharing system BitTorrent. On May 3, it announced the launch of Chiacoin (XCH), which uses storage on your hard drive to "farm" new coins. All it needs is 100GB of clusters on a drive called plots. Imagine it to be a block of data that’s taking up 100GB of space, each consisting of one cluster. The more plots you have, the higher is the chance of cultivating a Chiacoin. According to <a href="https://www.tomshardware.com/how-to/how-to-farm-chia-coin-the-new-storage-based-cryptocurrency">Tom's Hardware</a>, 10TB of storage gives the farmer a winning odds of 0.000257%. In total, 4,608 XCH blocks are generated per day, worldwide. Miners use the hard drives to allocate as much space as possible to the lucrative, low-cost mining or farming of the <keyword id="2721952" type="PERSON" weightage="20" keywordseo="crypto">crypto</keyword>. To start farming, you have to download the <a href="http://www.chia.net/">program</a> to your computer and allocate a certain amount of space to the network through the user interface. Since farming doesn't need a beefed-up processor to compute complex mathematical algorithms to mine coins, it consumes significantly less energy. Chiacoin has released a <a href="https://www.chia.net/assets/ChiaGreenPaper.pdf">white paper</a> that claims it uses up to 10,000 times less energy than bitcoin’s mining. The Chia Network also consists of a “smart coin," which is used for transactions that include multiple contracts and capabilities. Chialisp is an application within the network capable of performing banking processes, payments, asset disbursement, and exchanges. The network's "proof of space and time" is the first of its kind. It makes it easier for the average Joe to take part in the process without requiring massive investments. The idea is to reduce electricity consumption as much as possible and to lower inequality in mining. Like other cryptocurrencies, Chiacoin has gained a lot of attention, and many have turned to full-time farming. While Bitcoin and other coins fuelled intense demand for central processing units (CPUs) and graphics processing units (GPUs), Chia has kicked off a race for the best-in-class storage equipment, globally. Shares of disk-drive makers have soared after Chiacoin was launched, giving both Seagate and Western Digital at least a 15% push within two days. As of May 18, 4:30 p.m., one Chiacoin is worth $1366 (₹99,761) against an all-time high of $1645 (₹120136). SEE ALSO: <a href="https://www.businessinsider.in/cryptocurrency/news/indian-cryptocurrency-exchange-wazirx-has-listed-shiba-inu-tokens-for-trading-in-indian-rupees/articleshow/82731429.cms">WazirX has listed Shiba Inu — here's everything you need to know about the said Dogecoin killer</a> <a href="https://www.businessinsider.in/india/news/maharashtra-to-consider-staggered-reopening-depending-on-the-covid-19-cases-in-the-state/articleshow/82735056.cms">Maharashtra to consider staggered reopening depending on the COVID-19 cases in the state</a>

Chiacoin claims to be an eco-friendly cryptocurrency — here's how it works

<ul class="summary-list"><li><keyword id="11186768" type="UNKNOWN" weightage="60" keywordseo="chia-network">Chia Network</keyword> raised $61 million from investors including Andreessen Horowitz in a new funding round.</li><li>The "green" cryptocurrency startup is now worth approximately $500 million.</li><li><keyword id="3019433" type="PERSON" weightage="60" keywordseo="Chia">Chia</keyword> Network is eyeing an IPO as soon as this year, but a merger with the right SPAC is also possible.</li></ul>A new, green blockchain startup called <a href="https://markets.businessinsider.com/currencies/news/green-cryptocurrency-chia-less-energy-intensive-bitcoin-crypto-ethereum-altcoins-2021-4-1030373374">Chia Network</a> has more than doubled its valuation to $500 million after a recent funding round and is mulling going public, according to a report from <a href="https://www.bloomberg.com/news/articles/2021-05-24/blockchain-startup-chia-nabs-500-million-valuation-eyes-ipo">Bloomberg</a>.Chia Network was founded by BitTorrent creator <keyword id="11320448" type="UNKNOWN" weightage="60" keywordseo="bram-cohen">Bram Cohen</keyword> and claims to be a green alternative to top <keyword id="2420795" type="PERSON" weightage="60" keywordseo="cryptocurrencies">cryptocurrencies</keyword> like <keyword id="6354947" type="UNKNOWN" weightage="60" keywordseo="bitcoin">bitcoin</keyword> because of its less energy-intensive method of minting new coins.The San Francisco-based company raised $61 million from investors including Richmond Global Ventures and Andreessen Horowitz in its latest funding round. Breyer Capital, Slow Ventures, True Ventures, Cygni Capital, Naval Ravikant, Collab+Currency, and DHVC also participated in the round.Chia Network's cryptocurrency, Chia, is "farmed" using the "proofs of space and time" model instead of bitcoin's energy-intensive "mining" process via the "proof of work" model.Chia is now the largest storage-related blockchain at nearly double the size of Filecoin, according to Gene Hoffman, the company's president and chief operating officer.Hoffman told Bloomberg this latest round of funding is "rocket fuel" that will help accelerate the company's goal to become a trading and payment system for institutions.The COO added that he's looking to do a traditional IPO as soon as this year but said a merger with the "right" SPAC is also possible, per Bloomberg.Bradley A. Gastwirth, Wedbush's chief technology strategist, wrote an email to clients on Tuesday discussing the Chia news."We see the funding round as well as the potential IPO as further solidifying Chia's pedigree and likely longevity, a result that could lead to further credibility for the currency based on proof of space," he wrote.Chia's new method for "farming" cryptocurrency has presented its own challenges, however. Prices for hard disk drives and solid-state drives have shot up since Chia mining began to gain traction.Chia farmers use these storage devices to mint new coins, and they're using so many it's driving stocks like <a href="https://markets.businessinsider.com/stocks/wdc-stock?utm_source=markets&amp;utm_medium=ingestgest">Western Digital</a> and <a href="https://markets.businessinsider.com/stocks/stx-stock?utm_source=markets&amp;utm_medium=ingestgest">Seagate Technology</a> to <a href="https://markets.businessinsider.com/currencies/news/seagate-western-digital-stocks-rise-chia-propels-hard-drive-shortage-2021-5-1030438017">new highs</a>."As we have noted over the past several weeks, the rise of Chia has helped create a shortage of HDDs with pricing in secondary <keyword id="31671" type="CITY" weightage="100" keywordseo="markets">markets</keyword> rising significantly," Girtswirth wrote in his note to clients.Still, investors are bullish on Chia Network's prospects. Richmond Global Ventures managing partner David Frazee, who is set to be added to Chia Network's board, told Bloomberg, "Chia is what Bitcoin would look like if it was designed with knowledge from the last 13 years."

Green crypto startup Chia Network doubles its valuation to $500 million and is mulling an IPO, report says

<ul class="summary-list"><li>Gene Hoffman, president COO of <keyword id="3019433" type="PERSON" weightage="60" keywordseo="Chia">Chia</keyword>, told Insider the company welcomes government regulation. </li><li>Hoffman said volatility was 'required' before mass adoption of <keyword id="2721952" type="PERSON" weightage="60" keywordseo="crypto">crypto</keyword> and the technology that underpins it. </li><li>Chia coin minting uses less energy, but has been criticized for creating electronic waste. </li></ul>This year's extreme volatility in the <a href="https://wazirx.com/signup?invite=2kpah6gr&amp;utm_source=business-insider&amp;utm_medium=referral&amp;utm_campaign=microsite" id="docs-internal-guid-e670434e-7fff-37c2-2ed7-cf69f9625cf6">cryptocurrency</a> market has troubled regulators and given big investors pause for thought. But it doesn't faze Gene Hoffman, president and COO of Chia, the new $500 million <a href="https://markets.businessinsider.com/currencies/news/green-cryptocurrency-chia-less-energy-intensive-bitcoin-crypto-ethereum-altcoins-2021-4-1030373374">"green" token</a>. "During adoption phase, volatility is almost required," he told Insider in an interview. "It's kind of like saying that we're gonna adopt the internet in the late 90s without having volatility in internet stocks. Was not going to happen that way." In the heady days of the late 1990s, traders chased anything remotely connected to the internet. Amazon was one of the market darlings at the time and could often rise or fall anywhere up to 60% in a month in the run-up to the bust in early 2000. <keyword id="2420795" type="PERSON" weightage="60" keywordseo="cryptocurrencies">Cryptocurrencies</keyword> have <a href="https://markets.businessinsider.com/currencies/news/cryptocurrency-volatility-price-swings-affect-investors-traders-miners-defi-2021-5-1030478847">swung wildly throughout May and June</a>, losing as much as <a href="https://www.businessinsider.in/cryptocurrency/news/the-cryptocurrency-market-lost-460-billion-in-a-single-day/articleshow/82801107.cms">$460 billion in a single day</a> last month after China - home to most of the world's crypto mining capacity - said it would clamp down on banks to prevent them from providing crypto-related services. Furthermore, Tesla CEO Elon Musk tweeted his concern about <keyword id="6354947" type="UNKNOWN" weightage="60" keywordseo="bitcoin">bitcoin</keyword>'s energy use, calling it "insane". Around the same time, his company stopped accepting <a href="https://wazirx.com/signup?invite=2kpah6gr&amp;utm_source=business-insider&amp;utm_medium=referral&amp;utm_campaign=microsite" id="docs-internal-guid-5de4b2cc-7fff-723c-b358-7b3232794991">bitcoin</a> as payment for its luxury electric vehicles. Chia's XCH token, which only began <a href="https://markets.businessinsider.com/currencies/news/green-cryptocurrency-chia-less-energy-intensive-bitcoin-crypto-ethereum-altcoins-2021-4-1030373374">trading on May 3</a>, has been no exception. It debuted at $1,498 and fell by two thirds in just three days. It has since swung from highs above $1,600 to lows this week below $540, according to data from <a href="https://coinmarketcap.com/currencies/chia-network/">CoinMarketCap.com</a>. But Hoffman thinks these are just teething problems before there is the mass adoption of cryptocurrencies and the <keyword id="6355684" type="PERSON" weightage="60" keywordseo="Blockchain">blockchain</keyword> technology that underpins them. And others agree - billionaire entrepreneur Mark Cuban has likened cryptocurrencies to the <a href="https://markets.businessinsider.com/currencies/news/crypto-like-1990s-dotcom-boom-bitcoin-may-not-survive-btc-2021-4-1030359060">dotcom bubble of the late 1990s</a>. Cuban said in January he expects some coins will survive future crashes to become the crypto world's equivalent of Amazon or eBay. Chia was founded by BitTorrent inventor Bram Cohen in 2017, and promotes its "proof of space and time" process as a much more energy-efficient way of mining coins than bitcoin's "proof of work." The company raised $61 million in its latest funding round. Proof of work is an algorithm in blockchain technology that is used to confirm bitcoin transactions and rewards miners with new coins. It's also highly energy intensive and makes bitcoin one of the less climate-friendly coins out there. Rival coin <keyword id="6709758" type="UNKNOWN" weightage="60" keywordseo="Ether">ether</keyword>'s ethereum network is soon moving to a "proof of stake" process, which is slightly different and is far more energy-efficient, for example. Chia's XCH token earns its green credentials from the energy use of its mining process. Rather than "mining" for coins, the network's users "farm" them. <a href="https://markets.businessinsider.com/currencies/news/green-cryptocurrency-chia-less-energy-intensive-bitcoin-crypto-ethereum-altcoins-2021-4-1030373374">Chia "farmers" generate and store</a> cryptographic numbers into "plots" onto their hard drives or solid state drives (SSDs) - a newer, faster <a href="https://www.avast.com/c-ssd-vs-hdd?v=rc">type of storage device</a>. A farmer's plot can win the chance to create a block and receive a reward on the blockchain based on the proportion of total space a farmer has filled up compared to the whole network. A server - called the "Timelord" - verifies the block and awards XCH tokens to the farmer in a process the company calls "proof of space and time". But <a href="https://foreignpolicy.com/2021/05/23/cryptocurrency-chia-waste-resources-bitcoin/">Chia has received criticism</a> for simply creating a new kind of waste, specifically burnt-up hard drives and SSDs. Demand for these storage devices has <a href="https://www.coindesk.com/bram-cohens-chia-drives-hard-disk-demand-in-europe-report">skyrocketed in Europe</a>, while some IT businesses in Vietnam said they <a href="https://www.retailnews.asia/china-cryptocurrency-craze-drives-hard-drive-shortage-in-vietnam/">ran out of stock</a> last month. "There's no free lunch," Hoffman said. "It's hard to say that being a thousand, 10,000 times more efficient for the same security isn't a massive innovation." Hoffman also said that burning through SSDs can be avoided: "If you use the $79 cheap-y SSD and try to plot a bunch against it you might burn that up, but the $99 will last you a lifetime," he said. "So the people who are complaining about that are buying the wrong tool for the job." Regulation is key to survival Aside from bitcoin's carbon footprint, the prospect of ever-tighter regulatory scrutiny has been one of the key drivers in the drop from the token's record high around $65,000 in April, to closer to $30,000 now. And this hasn't just affected bitcoin. Ether, Ripple's XRP, meme currency dogecoin, Polkadot's DOT, or Cardano's ADA are all down sharply from the highs of earlier this year as a result. Hoffman said Chia embraces government regulation - a major incentive behind the company's plans to go public "relatively quickly," possibly via a <a href="https://www.businessinsider.com/how-do-spacs-work-get-created-costs-guide">blank-check company,</a> or SPAC. "Everyone who's kind of merged their equity with their coin has generally been doing an illegal securities offering, and that can't scale, that cannot be adopted, that cannot become the thing that governments run central bank digital currencies on," Hoffman said. Part of cryptocurrencies' appeal is their decentralized nature - no one government or central bank controls them - and the degree of anonymity they afford their users. But Hoffman believes people want transparency. "You want to see the audited financials and the quarterly reports," he said. "These are not crazy ideas if you're trying to build trust." And he hopes that by listing his company on the stock exchange, and keeping its corresponding XCH token as a separate asset, investors will be protected against wild swings in coin prices when using it. <a href="https://forum.businessinsider.in/">For a more in-depth discussion, come on over to Business Insider Cryptosphere</a> — a forum where users can deep dive into all things crypto, engage in interesting discussions and stay ahead of the curve. SEE ALSO: <a href="https://www.businessinsider.in/cryptocurrency/news/investments-in-crypto-hit-17-billion-in-the-first-six-months-of-2021/articleshow/83740327.cms">Investments in crypto hit a new record of $17 billion, but Indian funds are yet to jump on the bandwagon</a> <a href="https://www.businessinsider.in/cryptocurrency/news/indian-cryptocurrency-exchange-wazirx-has-listed-shiba-inu-tokens-for-trading-in-indian-rupees/articleshow/82731429.cms">Chiacoin claims to be an eco-friendly cryptocurrency — here's how it works</a> <a href="https://www.businessinsider.in/cryptocurrency/news/here-is-why-a-ban-on-cryptocurrencies-may-not-be-even-possible/articleshow/82741310.cms">Is a ban on cryptocurrencies even possible?</a> <a href="https://www.businessinsider.in/cryptocurrency/news/latin-america-and-south-asia-show-two-ends-of-the-crypto-regulatory-spectrum/articleshow/83638437.cms">Even as Latin America embraces Bitcoin, Southeast Asia is clamping down on cryptocurrencies</a>

A top exec at 'green' crypto firm Chia says today's volatility is just like the wild price swings in dot-com stocks in the 90s - and that both further turbulence and regulation will ultimately help the market

<ul class="summary-list"><li>Elon Musk said Tesla is weighing up other more eco-friendly alternatives to bitcoin.</li><li>Experts said there are thousands to choose from, with many using a different mining system.</li><li>Musk's options include <keyword id="6709758" type="UNKNOWN" weightage="60" keywordseo="Ether">ether</keyword>, which is overhauling its system, and meme token <keyword id="1985091" type="PERSON" weightage="60" keywordseo="dogecoin">dogecoin</keyword>.</li></ul>Elon Musk shocked the crypto world on Wednesday night when he announced that Tesla would <a href="https://www.businessinsider.com/tesla-bans-bitcoin-payments-due-to-impact-on-environment-2021-5">no longer be accepting bitcoin</a> as payment, because its "insane" energy use threatens the environment.Bitcoin mining uses more energy each year than Sweden, according to Cambridge University researchers. And more than 70% of mining takes place in China, according to Bank of America analysts, where coal power dominates.But Musk said in his <a href="https://twitter.com/elonmusk/status/1392602041025843203?s=20">tweet announcing the decision</a> that Tesla is weighing up other cryptocurrencies which use less energy."With over 9,500 other cryptocurrencies available, Elon Musk has a plethora of options from which to choose," Katharine Wooller, managing director at retail crypto exchange Dacxi, told Insider.Here are five he might consider.EtherEther is the second-biggest cryptocurrency after bitcoin, with a total market value of more than $400 billion.Currently, ether's blockchain network Ethereum uses the same "proof of work" mining and security system as bitcoin. It is incredibly energy intensive, involving huge numbers of computers solving puzzles to keep the network secure.But ether is set to <a href="https://markets.businessinsider.com/currencies/news/ethereum-upgrades-boost-ether-price-eip1559-prrof-of-stake-2021-5-1030404464">move over to a "proof of stake" system</a> that Ethereum developers say will be far less energy intensive."The back of the envelope calculation suggests that under proof of stake we will be using less than a thousandth of the energy," Ben Edgington, of Ethereum development company ConsenSys, told Insider.Yet the change in ether is not set to take place until the end of this year or early 2022, during which time it is set to keep eating up energy.<keyword id="5294933" type="PERSON" weightage="60" keywordseo="cardano">Cardano</keyword>Cardano is a blockchain network, running the cryptocurrency ada, that already uses a proof of stake system. This means users of the network validate transactions and get rewarded with cryptocurrency according to the number of coins they hold and are willing to offer as a sort of down payment.Cardano uses a tiny fraction of the energy of bitcoin, at 0.55 kilowatt hours per transaction, compared to bitcoin's 707 KWh, according to internet infrastructure firm <a href="https://www.trgdatacenters.com/most-environment-friendly-cryptocurrencies/">TRG Datacenters</a>.<keyword id="6221313" type="UNKNOWN" weightage="60" keywordseo="xrp">XRP</keyword>XRP is the least environmentally damaging cryptocurrency, according to TRG, using 0.0079 KWh of energy per transaction.The cryptocurrency, associated with the development firm Ripple, is the seventh-biggest. Ripple <a href="https://markets.businessinsider.com/currencies/news/ripple-xrp-sales-first-quarter-results-sec-lawsuit-ripplenet-2021-5-1030402431">said last week</a> that its sales of XRP has almost doubled in the first quarter of the year to $150 million.Ripple has had legal problems, however, with the company currently involved in a dispute with the Securities and Exchange Commission over whether XRP is a security or a currency.<keyword id="3019433" type="PERSON" weightage="60" keywordseo="Chia">Chia</keyword>Chia is a new "green" cryptocurrency which <a href="https://markets.businessinsider.com/currencies/news/green-cryptocurrency-chia-less-energy-intensive-bitcoin-crypto-ethereum-altcoins-2021-4-1030373374">started trading in early May</a>. It was created by Bram Cohen, the inventor of BitTorrent, and uses what's called a "proofs of space and time" system. Its creator says people farm, rather than mine, the cryptocurrency.It has attracted investors but it remains tiny, with a market cap of $550 million compared to bitcoin's value of close to $1 trillion.DogecoinElon Musk has often hyped the cryptocurrency, which was started as a joke and is based on an online dog meme.He <a href="https://twitter.com/CNBC/status/1392828606670426114?s=20">tweeted a poll</a> last week, asking: "Do you want Tesla to accept Doge?" His followers overwhelmingly said yes.Yet many crypto experts have criticized dogecoin's design, particularly the fact that it has unlimited supply.Wooller said: "The cynic in me prays he doesn't switch to dogecoin, which is at best a novelty, and at worst an embarrassment to the crypto industry."

Elon Musk's Tesla has stopped taking bitcoin, but is weighing greener options. Here are 5 tokens it might consider

<div class="KonaFilter image-container display-table"><div><div class="image on-image"><a href="http://pictures.reuters.com/C.aspx?VP3=SearchResult&amp;VBID=2C0BXZUXYDIFV&amp;SMLS=1&amp;RW=1440&amp;RH=718#/SearchResult&amp;VBID=2C0BXZUXYDIFV&amp;SMLS=1&amp;RW=1440&amp;RH=718&amp;POPUPPN=1&amp;POPUPIID=2C0BF1SLQ6XAP">REUTERS/Kim Hong-Ji</a>Eoh Kyung-hoon, leader of a club studying cryptocurrencies, checks a chart after a meeting at a university in Seoul, South Korea, December 20, 2017.</div></div></div><ul><li>The amount of funding raised through "initial coin offerings" rose from $3.3 billion in the first quarter to $8.3 billion in the second, according to a new report.</li><li>But the proportion of funding campaigns that failed also rose to 55%, leading analysts to say the quality of projects in the market has "significantly worsened."</li><li>The average return for ICO tokens in the quarter was -55%, compared with a gain of nearly 50% in the first quarter.</li></ul>LONDON - Money continues to flood into the booming market for digital tokens issued by startups despite the projects seeking funding getting worse and investment returns suffering, according to a new report.55% of "initial coin offerings" (ICOs) failed to complete in the second quarter, according to a report from agency ICORating. That was 5% more than failed in the first quarter.ICOs are where companies and projects issue digital tokens structured like bitcoin or ethereum. These tokens are sold in return for cash used to fund the development of their businesses. ICOs exploded from almost nothing to be a multi-billion dollar market in 2017, surging in popularity alongside the rise in the price of bitcoin.The increasing failure rate came despite a rise in the amount of money being invested into ICO tokens. 827 projects raised $8.3 billion through initial coin offerings in the second quarter of the year, the report states, compared to $3.3 billion in the first quarter.This mismatch led ICORating to conclude that "the overall quality of projects has significantly worsened." Fewer projects are attracting bigger sums, while many others languish with small sums or outright failure. The biggest ICO in the second quarter of 2018 was PumaPay, a cryptocurrency solution for merchants that raised $117 million in May.The increase in investment into ICO tokens comes despite poor performance in the second quarter. ICORating found the median return for tokens in the second quarter was -55.5%, compared to +49.3% in the first quarter. Bitcoin, the bellwether for the crypto and digital asset market, has declined over 50% since the start of the year.North American startups attracted the bulk of funding, taking in 64.6% of the total raised in the quarter. Financial services continued to be the most popular sector for startups, with 87 ICOs focusing on the industry.<div class="KonaFilter image-container display-table"><div><div class="image on-image">ICORating</div></div></div>Separately on Wednesday, blockchain-focused VC firm Outlier Ventures released a report saying that venture capitalists invested $1.8 billion into blockchain-focused businesses in the second quarter of the year. Most ICO projects use blockchain technology in one way or another, although the majority of VCs still invest in equity rather than buying tokens issued during an ICO.Outlier Ventures' review of activity in the blockchain space found an increase in M&amp;A activity among startups. Tron <a href="https://techcrunch.com/2018/06/18/bittorrent-tron/">acquired torrenting service BitTorrent for $140 million in June, for example.</a> Tron aims to decentralize the entertainment industry and raised $70 million through an ICO last December.Jamie Burke, CEO at Outlier Ventures, said in a release: "We are seeing extremely well-capitalized protocols launch venture funds and accelerators as well as acquire equity-backed companies and teams to scale development or buy network-market-fit." Get the latest Bitcoin price <a href="http://markets.businessinsider.com/currencies/BTC-USD">here.&gt;&gt;</a> <div class="margin-top"> <h3>NOW WATCH: <a href="https://www.businessinsider.com/jpmorgan-chief-strategist-reveals-the-one-thing-that-will-keep-the-market-soaring-2018-7">Stock trading is a 'monotheistic religion' - a JPMorgan chief strategist reveals the one thing that will keep the market soaring</a></h3> <div> </div> </div>

1 in 2 ICOs failed in the second quarter - and those that succeeded suffered huge losses

IN 1999 an 18-year-old called Shawn Fanning changed the music industry for ever. He developed a service, Napster, that allowed individuals to swap music files with one another, instead of buying pricey compact discs from record labels. Lawsuits followed and in July 2001 Napster was shut down. But the idea lives on, in the form of BitTorrent and other peer-to-peer filesharers; the Napster brand is still used by a legal music-downloading service.
The story of Napster helps to explain the excitement about <keyword id="6354947" type="UNKNOWN" weightage="60" keywordseo="Bitcoin">Bitcoin</keyword>, a digital currency, that is based on similar technology. In January a unit of Bitcoin cost around $15 (Bitcoins can be broken down to eight decimal places for small transactions). By the time <keyword id="425741" type="UNKNOWN" weightage="60" keywordseo="The-Economist">The Economist</keyword> went to press on April 11th, it had settled at $179, taking the value of all Bitcoins in circulation to $2 billion. Bitcoin has become one of the world’s hottest investments, a bubble inflated by social media, loose capital in search of the newest new thing and perhaps even by bank depositors unnerved by recent events in Cyprus.
Just like Napster, Bitcoin may crash but leave a lasting legacy. Indeed, the currency experienced a sharp correction on April 10th--at one point losing close to half of its value before recovering sharply (see chart on next page). Yet the price is the least interesting thing about Bitcoin, says Tony Gallippi, founder of BitPay, a firm that processes Bitcoin payments for merchants. More important is the currency’s ability to make e-commerce much easier than it is today.
Bitcoin is not the only digital currency, nor the only successful one. Gamers on Second Life, a virtual world, pay with Linden Dollars; customers of Tencent, a Chinese internet giant, deal in QQ Coins; and Facebook sells "Credits". What makes Bitcoin different is that, unlike other online (and offline) currencies, it is neither created nor administered by a single authority such as a central bank.
Instead, "monetary policy" is determined by clever algorithms. New Bitcoins have to be "mined", meaning users can acquire them by having their computers compete to solve complex mathematical problems (the winners get the virtual cash). The coins themselves are simply strings of numbers. They are thus a completely decentralised currency: a sort of digital gold.
<div class="image-container float_right" style="width:300px"><div class="image"></div>The Economist</div>Bitcoin’s inventor, Satoshi Nakamoto, is a mysterious hacker (or a group of hackers) who created it in 2009 and disappeared from the internet some time in 2010. The currency’s early adopters have tended to be tech-loving libertarians and gold bugs, determined to break free of government control. The most infamous place where Bitcoin is used is Silk Road, a marketplace hidden in an anonymised part of the web called Tor. Users order goods--typically illegal drugs--and pay with Bitcoins.
Some legal businesses have started to accept Bitcoins. Among them are Reddit, a social-media site, and WordPress, which provides web hosting and software for bloggers. The appeal for merchants is strong. Firms such as BitPay offer spot-price conversion into dollars. Fees are typically far less than those charged by credit-card companies or banks, particularly for orders from abroad. And Bitcoin transactions cannot be reversed, so frauds cannot leave retailers out of pocket.
Yet for Bitcoins to go mainstream much has to happen, says Fred Ehrsam, the co-developer of Coinbase, a Californian Bitcoin exchange and "wallet service", where users can store their digital fortune. Getting hold of Bitcoins for the first time is difficult. Using them is fiddly. They can be stolen by hackers or just lost, like dollar bills in a washing machine. Several Bitcoin exchanges have suffered thefts and crashes over the past two years.
<h3>Ripple effects</h3>
As a result, the Bitcoin business has consolidated. The leading exchange is Mt.Gox. Based in Tokyo and run by two Frenchmen, it processes around 80% of Bitcoin-dollar trades. If such a business failed, the currency would be cut off at the knees. In fact, the price hiccup on April 10th was sparked by a software breakdown at Mt.Gox, which panicked many Bitcoin users. The currency’s legal status is unclear, too. On March 18th the Financial Crimes Enforcement Network, an American government agency, proposed to regulate Bitcoin exchanges; this suggests that the agency is unlikely to shut them down.
Technical problems will also have to be overcome, says Mike Hearn, a Bitcoin expert. As more users join the network, the amount of data that has to circulate among them (to verify ownership of each Bitcoin) gets bigger, which slows the system down. Technical fixes could help but they are hard to deploy: all users must upgrade their Bitcoin wallet and mining software. Mr Hearn worries that the currency could grow too fast for its own good.
But the real threat is competition. Bitcoin-boosters like to point out that, unlike fiat money, new Bitcoins cannot be created at whim. That is true, but a new digital currency can be. Alternatives are already in development. Litecoin, a Bitcoin clone, is one. So far it is only used by a tiny hard-core of geeks, but it too has shot up in price of late. Rumour has it that Litecoin will be tradable on Mt.Gox soon.
A less nerdy alternative is Ripple. It will be much easier to use than Bitcoin, says Chris Larsen, a serial entrepreneur from Silicon Valley and co-founder of OpenCoin, the start-up behind Ripple. Transactions are approved (or not) in a few seconds, compared with the ten minutes a typical Bitcoin trade takes to be confirmed. There is no mystery about the origins of Ripple nor (yet) any association with criminal or other dubious activities.
OpenCoin is expected to start handing out Ripples to the public in May. It has created 100 billion, a number it promises never to increase. To give the new currency momentum, OpenCoin plans eventually to give away 75% of the supply. Anyone opening an OpenCoin account will receive five Ripples; existing Bitcoin users will get more.
The 25% retained by OpenCoin will give it a huge incentive to make sure that the Ripple is strong: the higher its value, the bigger the reward for OpenCoin’s investors when the firm cashes out. On April 10th several blue-chip venture-capital firms, including the ultra-hip Andreessen Horowitz, announced that they had invested in OpenCoin.
If Ripple gains traction, even bigger financial players may enter the fray. A firm such as Visa could create its own cheap instant international-payments system, notes BitPay’s Mr Gallippi. And what if a country were to issue algorithmic money?
At that point Bitcoin would probably be bust. But if that happened, its creators would have achieved something like Mr Fanning. Napster and other file-sharing services have forced the music industry to embrace online services such as iTunes or Spotify. Bitcoin’s price may collapse; its users may suddenly switch to another currency. But the chances are that some form of digital money will make a lasting impression on the financial landscape.
Click <a href="http://www.economist.com/products/subscribe/CUR22/noreg">here</a> to subscribe to The Economist

You Searched For "bittorrent coin" and got 11 results

Decentralised file sharing, movie streaming, and much more — these are top five Web3 cryptocurrencies to keep an eye on in 2022

Insider Studios

A new green cryptocurrency called Chia uses a less energy-intensive method of minting new coins. Here are 6 things to know about the digital asset before it starts trading on Monday.

Will Daniel

Amid bitcoin bear market, these are the 5 best performing cryptocurrencies over the past week

Matthew Fox

These are the 10 best-performing cryptocurrencies so far in 2021 - and one is up more than 8,000%

Matthew Fox

Seagate and Western Digital stocks are on fire as the new cryptocurrency Chia continues to propel a hard-drive shortage

Will Daniel

Chiacoin claims to be an eco-friendly cryptocurrency — here's how it works

Shivam Vahia

Green crypto startup Chia Network doubles its valuation to $500 million and is mulling an IPO, report says

Will Daniel

A top exec at 'green' crypto firm Chia says today's volatility is just like the wild price swings in dot-com stocks in the 90s - and that both further turbulence and regulation will ultimately help the market

Anna Cooban

Elon Musk's Tesla has stopped taking bitcoin, but is weighing greener options. Here are 5 tokens it might consider

Harry Robertson

1 in 2 ICOs failed in the second quarter - and those that succeeded suffered huge losses

Oscar Williams-Grut

Bitcoin Is Changing The World

The Economist

Popular Keywords

Buying Guides