The features presented by blockchain would be forcing central banks to adopt and use the technology on a large scale, but some governments including China, Jamaica, etc., don't want their central banks to use the tech in the issuance and distribution of their own state-backed central bank digital currency (CBDC).
Ethereum Classic is in a downward correction soon after the breakdown on February 23. Today, ETC is trading at $12.09 at the time of writing. After the breakdown, the altcoin dropped to $9.03 low and made a pullback.
Bitcoin still has a long journey to be widely accepted. This is not because it is hated or not suitable to be used in making transactions, but it’s majorly because of its volatile nature and many factors that need to be worked on. Bitcoin is very volatile to be widely putative as a stable currency.
Privacy coins have been the lasting concern of the governments and financial authorities. Their enhanced anonymity features allow to use the coins for illegal purposes such as tax evasion, money-laundering, terrorism financing, drug trading, cryptojacking, etc.
A lot of people don’t know the difference between cryptocurrencies, stablecoins, and privacy coins. On one hand, both stablecoins and privacy coins belong to cryptocurrency. However, these kinds of coins possess peculiarities cryptos like bitcoin don’t have.
2020 is the year of DeFi. The total market value, user volume, and lock-up funds pf DeFi have skyrocketed, driving the rapid rise of decentralized lending, derivatives, decentralized stablecoins, DAOs, DEXs, oracles, etc.
2020 has seen a significant increase in the number of scams related to cryptocurrency. To lure out people’s money, scammers constantly improve their schemes and invent new approaches to look more reliable and trustful.