CRYPTO WEEKLY cryptoweeklymag.com$2 September 2022 | Volume 39 HIDDEN GEMS Page 38 Page 40BEGINNERS GUIDE Page 44VIDEO OF THE WEEK What is a DEX?Cookie Sale | Kodi (KODI) Ethereum Investors must hear Page 07 BITCOIN HACKEDATMS Page 22 KEEPING DATA PRIVATE Page 26 CAN CRYPTO BE DESTROYED? Page 30 SCAMSNFT Page 32 METAVERSEMAKINGMONEY Page 34 NFT REVOLUTIONART Page 10 FEDERAL GUIDLINESRESERVE Page 18 AFTER MERGETHE Page 20 CAUSE CRYPTOOFCRASHES
01 02 03 04 05 Fully Doxxed TeamAmazing Community Super Fast Listings 125K Mag SubscribersEarn Rewards in USDT 2 Audits Passed BKEX listing first 2 weeks www.t.me/CMC_COIN_1 www.cmccoin.io CoinMarketCap/CoinGecko Within hours of applying www.cyptoweeklymag.com Get first 12 Months Free! Weekly & Monthly Rewards
Cryptocurrency to Be Accepted as Tax Payment in Argentine Province Mendoza "Come Into Compliance or Else," Says SEC chief Gary Gensler A16z Token License Will Standardize NFTs
cryptoweeklymag.com$2 september 2022 | Volume 39 CONTENTS 10 18 22
30 Part
The Thing About Ethereum's 'Merge' is That it's Only a Start
Singapore Regulators Plan Rules to Combat Investors' Ignorance of Crypto Risks
Fifty Percent of Americans Don't Care About NFTs
����������������������������������������������������������������������������������������������������������������������������������������������������������������������������������������������������������� 9
9
32 How
Using Zero-Day Vulnerabilities Steal Crypto from Bitcoin ATMs
Decentralized Finance and Stablecoins May be Adversely Affected by the Ethereum Merge
22
20
Keeping Data Private and Protected: Why Crypto Should Support This Act
What Is a Decentralized Exchange (DEX)?
U S Federal Reserve Issues Guidelines for Banks Engaged in Cryptocurrency Activities
Ethereum Has Much Work Left to do After the Merge
A look at What Causes Crypto Markets to Crash
Instagram's NFT Posts Now Linked to Facebook's 'Digital' Market
��������������������������������������������������������������������������������������������������������������������������������������������������������������������������������������������������� 34
18
8 The
Hackers
13
The Taliban Usher in an Age of Financial Censorship Banning all Crypto
7
���������������������������������������������������������������������������������������������������������������������������� 16
43
14
40
Here are NFT's Biggest Scams to Be Aware of Right Now 1: Making Money In The Metaverse NFTs Could Revolutionize the Art Industry
10
8
12
Welcome to Crypto Weekly
Everyone is in a pensive mood with the crypto market just quibbling about whether BTC will be under or over 20k We all dream of a quick payday and it’s the uncertainty that takes our pleasant mood Let us just remember ourselves We know the truth —or at least most of us do We all knowingly put ourselves right smack dab at the inception of the crypto revolution Yes, we are all still so very early Some of us will have it made one day with the investments we have made if we just have the patience to hold Some of us who didn’t hold will wish we had and regret losing it all just because we didn’t have any patience Do your diligence and make smart moves You do that by learning about what you are doing� We here at Crypto Weekly will help all we can We are all about teaching and providing the best information from around the web so you will have a foundation that lends itself to success
editor@cryptoweeklymag.com
As usual, a lot of stuff has happened in the last week because the music never stops in the crypto sphere, and the time keeps rolling on I hope you all enjoy what we have brought together for you this week� Please let us know your thoughts, and if you would like to see something featured, please do get in touch
ISSUE 39 CRYPTO WEEKLY Crypto Weekly Magazine is published by the Crypto Marketing Company 71-75 Shelton Street, Covent Garden, London, United Kingdom, WC2H 9JQ Design
Dilin Divan
dilin@cryptoweeklymag.com Advertising Kryptochik kryptochik@cryptomag.finance Publisher Colin Woolley colin@cryptoweeklymag.com
Editor
Robert Stone editor@cryptoweeklymag.com CEO Nathan Hill nathan@cryptoweeklymag.com
Crypto Weekly is the brainchild of the guys at CMC, and I am Rob Stone, Editor, and I hope to bring you an informative read on everything crypto every week of the year Another week has gone by, and this is our 39th issue of Crypto Weekly
Robert Stone Editor
Follow Us cryptoweeklymag
Editors Letter
customers sent coins," says the security advisory
By changing these settings, the threat acts were able to redirect any cryptocurrency received by CAS to the hackers "Two-way ATMs started sending coins to the attacker's wallet when
Thecustomersmajorityof General
Bytes, the threat actors scanned the Internet for exposed TCP ports 7777 or 443 on servers hosted on Digital Ocean and General Bytes' own cloud After exploiting the bug, the bad guys added a default admin user named 'gb' to the CAS and modified the 'buy' and 'sell' crypto settings to use a cryptocurrency wallet controlled by the hackers
cryptocurrencydepositedlocationexchangesofpurchasestheywhatBitcoin(CAS)ApplicationofdependingdifferentbuyATMsBytesBytesvulnerabilityzero-dayinGeneralBitcoinATMservers�manufacturesBitcointhatallowpeopletoandsellmorethan40cryptocurrencies,onthetypemachine�CryptoServersmanagetheATMs'operation,cryptocurrenciessupport,andtheandsalescryptocurrencyonfromaremoteAllcustomerswhoorpurchasedattheATM
had their funds siphoned off by hackers instead CAS exploitzero-dayexploited by hackers
The attacks involved a zero-day vulnerability in the Crypto Application Server (CAS), according to a General Bytes security advisory published on August 18th A URL call on the page used for the default installation of the server and creating the first administration user allowed the attacker to create an admin user remotely via the CAS administrative interface According to General
A firewalled server that only allowed connections from trusted IP addresses would have prevented the threat actors from performing these attacks� Therefore, firewalls must only be configured to allow access to the Crypto Application Server from trusted IP addresses, such as those of ATMs or
Cryptocurrency has been stolen from customers by hackers exploiting a
Bytes Crypto Application Servers are located in Canada, according to BinaryEdge Crypto Weekly
Using VulnerabilitiesZero-DayHackers Steal Crypto from Bitcoin ATMs
7www.cryptoweeklymag.com September 2022 | Volume 39
On Saturday, Mendoza Tax Administration
—Crypto Weekly
8 www.cryptoweeklymag.comSeptember 2022 | Volume 39 NEWS UPDATES &
Gary Gensler is actively targeting digital currency companies US Securities and Exchange Commission chairman fired a warning shot at the digital currency industry
Cryptocurrency to Be Accepted as Tax Payment in Argentine Province Mendoza
In July, the South American country experienced roughly 70% inflation yearto-year ATM's decision to embrace stablecoins may be an effort to mitigate this inflation, as U.S.
no official date has been
As a result of a high level of "unbanked" population in El Salvador, the country became the first country in the world to accept Bitcoin as legal tender last year Argentina's president, Alberto expressedFernandez,openness to following El Salvador's lead last year, but little progress has been made
—Crypto Weekly
(ATM) announced that it now taxwouldannouncedandstablecoins,nowmillionMendoza'sFromprovincewesterncryptocurrencyacceptsintheArgentinefortaxpaymentsanycryptowallet,roughly2residentscanpaytaxesusingincludingDAIUSDTBuenosAiresinAprilthatitacceptcryptoforpayments,although
announced Taxpayers can scan the QR code generated on the ATM's website with their crypto wallet to facilitate the transaction, which will then be converted into pesos
Business compliance
The main message Gensler gave to digital currency businesses was that just because their platforms and services use distributed ledger technology does not mean that existing securities laws do not apply Although many digital currency businesses hide behind the labels, they give themselves, such
a company provides law,currenciesamostfollowCommissionbyandgovernedservicesbyframeworkspoliciesestablishedtheSecuritiesExchange(SEC),itmusttheguidelinesIncases,andwheremajorityofdigitalareevadingthethismeansthatthe
currency space with activities and services that fit the bill of the companies described in Gensler's article, which is a hawkish analysis of digital currency businesses� To benefit investors and the digital asset market as a whole, he lawscompliantwithplatforms""cryptocurrencyencourageslendingtointeracttheSECtobecomewithsecurity
"Come Into Compliance or Else," Says SEC chief Gary Gensler
inflation was only 8.5%.
Whenever"
as "lending platform, crypto exchange, and decentralized finance platform," at the end of the day, Gensler notes, "the Supreme Court has stated clearly that a security's economic reality—not its label—determines its status
digital currency company must provide the proper disclosures for their
Accordingactivities to Gensler, these laws aim to protect investors, which is why companies that carry out such activities and provide these services are required to provide information that makes the company's information public information that individuals should review before investing� For example, how the company uses investor funds
The SEC may be targeting businesses in the digital
to adopt CryptoKitties' creator, Dapper Labs, has tried standardizing licensing in the past, but no consistent approach has been found yet There's an ongoing source of legal uncertainty that plagues users and investors, including firms like a16z.
9www.cryptoweeklymag.com September 2022 | Volume 39 NEWS UPDATES &
The NFT initiative has been somewhat murky despite some issuers turning to Creative Commons to enable free copyright
keeping your account secure, which is important since connecting NFTs to Facebook and Instagram may increase the likelihood that people who post them will be targeted with phishing attempts, which have hijacked wallets and their associated items on multiple theacrossandInterestingly,occasions�thisexpansionsharingoftheappFacebookoccurreddayafterEminemand
Snoop Dogg performed their Bored Ape Yacht Club collaboration at the MTV Video Music Awards Existing NFT fans seemed energized by that event, but other music lovers weren't as enthused�
Crypto Weekly
Posts Now Linked to Facebook's 'Digital' Market
licensing, but many other efforts have not yet had the same success AndreessenaJenningsthatstandardizationindustryeconomictakenapproachescounselJennings,Accordingpermittheyownersyears,haveno-rights-reservedSeveralprojectsemergedinrecentanda16zarguesthatmustclarifyhowcanuseNFTsandotherstodosotoMilesgeneralata16z,variousarebeing"Therewillbemorepotentialfortheifthereisgreaterwithinsector"AccordingtoandChrisDixon,managingpartneratHorowitzwho
Andreessen Horowitz's (a16z) crypto arm is working on an answer to the licensing problem of non-fungible tokens (NFTs) Using an approach similar to Creative Commons, the firm wants to establish some standards for how NFTs can be used by offering a variety of free licensing options There is a great deal of confusion around intellectual property rights surrounding these tokens
The FAQ has a lot of details about how the connections work and
You can now share posts with blockchainverified items on Facebook if you're among the expanding group of people who have access to Meta's NFT "digital collectible" posts on Instagram� Upon connecting their digital
BAYC ranked only fourth on a list of most active collections, despite the performance or perhaps because owners wanted to hold onto their NFTs —Crypto Weekly
wallets to Facebook or Instagram, people can post digital collectibles they own across both platforms, according to a blog post from the company According to a screenshot the company tweeted, the posts will look like normal posts but will have a badge marking them as a "digital collectible "
The A16z Token License Will Standardize Instagram'sNFTsNFT
founded its crypto arm, the firm is releasing "a set of free, public 'Can't Be Evil' licenses, specifically for NFTs and influenced by Creative Commons " Lawyers for the company outlined several levels of licensing, and the language is available on GitHub for anyone
U.S. Federal Reserve Issues Guidelines for Banks Engaged in Cryptocurrency Activities
under Federal Reserve supervision engage in crypto-asset activities, they should notify their "primary administrative point of contact at the Federal Reserve " Additionally, a supervised banking organization must ensure that any cryptoasset-related activity is legally permissible before engaging in the activity and determine whether
The Federal Reserve has issued additional guidelines regarding activities areemergingtoAmericanthatcryptocurrencies,involvinggivenquiteanumberofbanksdesiringtakeadvantageofthecryptomarketsnowseekingtoexpandintothedigitalassetworld"Theemergingcrypto-assetsectorpresents
potential opportunities for banking organizations, their customers, and the entire financial system," the Fed stated in a supervisory letter; however, crypto-assetrelated activities may pose risks� To engage in cryptoasset-related activities, the Fed has outlined the steps banks supervised by its Board must take If banks or credit unions
to clarify which activities
Banks should have adequate systems, risk management, and controls to conduct such activities safely and in compliance with all applicable laws, including consumer protection Inlegislation2022,regulators intend
any filings are necessary.
10 www.cryptoweeklymag.comSeptember 2022 | Volume 39 NEWS UPDATES &
Rising Competition In the Digital Asset Space
Likewise,clientswealth-managementinJuly2021
banks may engage in involving crypto, such as whether they may hold digital assets on their balance sheets and facilitate crypto trades on behalf of their clients
are embracing them This March, JPMorgan Investing in TRM Labs, a leader in blockchain intelligence, was JPM's "strategic decision." The firm announced it would invest in crypto compliance and risk management software developed by TRM Labs
Banks in the United States were not permitted to hold
11www.cryptoweeklymag.com September 2022 | Volume 39 NEWS UPDATES &
Private Bank offered its FinancialbitcoinInvestmentwithwasbitcoinamanagementwealthclientspassivelymanagedfundThisofferingmadeinconjunctionNewYorkDigitalGroup,apowerhouseadvisorsatJPM
became the first in the United States to provide
Citigroup, as part of its blockchain and digital assets division, the company will hire 100 additional employees in November 2021
After a long-running plan to enter crypto, Citigroup has begun offering digital asset services to wealthy clients through its Digital Assets Group offshoot Part of Citigroup's wealth management division, the division specializes in cryptocurrencies, NFTs, stablecoins, and central bank digital currencies�
cryptocurrencies until July 2020 Banks were given the go-ahead to begin exploring growncryptocurrenciesfewandinterestedBanksJulyoperationscryptocurrencyafterthepost-amendment�weren'tthatincryptodigitalassetsayearsagoSincehaveinpopularity,banks and financial institutions
cryptocurrency funds to their
Among others, Goldman Sachs launched cashsettled futures trading involving non-deliverable forwards relating to Bitcoin's price With Cumberland DRW as its trading partner, Goldman Sachs shields itself from cryptocurrency fluctuations by trading Bitcoin futures on CME Group Inc —Crypto Weekly
As a result, JPMorgan became the first American bank to enter the metaverse by opening an online lounge called "Onyx lounge" in Decentraland Users can purchase virtual plots of land in Decentraland using cryptocurrency backed by the Ethereum blockchain to acquire non-fungible JPMorgantokens
SinceservicesU�S�
warnings and measures, Avi Menon, managing director of the Monetary Authority of Singapore (MAS), said at an event on Monday that despite sharp price increases, consumers are increasingly trading in restrictingsuitabilitycould"Someconsidering,"somethingtofriction"hecryptocurrencyobliviousappearSingaporeglobally,cryptocurrenciesnotjustin"Theytobeirrationallytotherisksoftrading,"said�"AdditionalonretailaccesscryptocurrenciesistheMASishesaidofthesemeasuresincludecustomertestsandleverageand
Because of its welcoming approach to digital assets, Singapore has become a major center in Asia in recent years There have been concerns about tighter regulations after a number cryptocurrency-relatedof firms based in Singapore defaulted, many of which do not follow the financial regulator's guidelines on consumer protection and market conduct
12 www.cryptoweeklymag.comSeptember 2022 | Volume 39 NEWS UPDATES &
credit options for crypto trading," he said
Menon said public feedback would be sought by October, noting that global regulators are reviewing the MAS' proposals The MAS issued guidelines in January limiting cryptocurrency trading service providers from advertising their
Singapore Regulators Plan Rules to Combat Investors' Ignorance of Crypto Risks
Despite retail investors being "irrationally oblivious" about the risks of cryptocurrency trading, Singapore is planning to roll out new regulations to make it harder for them to do Despiteso
interest rates have risen and inflation has soared, investors have shunned riskier assets like cryptocurrencies It is not contradictory for MAS to
facilitate activities related to digital assets and restrict speculation related to processelaboratedozenhasnewMAScompaniesIncryptoGeminitheSingaporeMenoncryptocurrencies,"saidishometoUScryptoexchangeandtheChineseexchangeHuobi�2020,180cryptoappliedforlicensesundertheregime,butSingaporeissuedonlyabouttwolicensesafteranduediligence—
Crypto Weekly
Each day, etherwilltoken-burningslowing,slowissuedtheproof-of-stakeEthereum'sInwidespreadwithinforstablecoinsalsoperspective,fromHerrerasuccessfullydelaysStablecoinsaffecttheatHerrera,goesEvenprotocolsfunctioningisconsensusyield-farmingtrading,valuebillionsecosystemEthereum'sprocessesofdollarsofcryptothroughtokenlending,andEthereum'smechanismcrucialtotheproperofDeFiiftheMergesmoothly,PedroadataanalystDappRadar,believesMergewillnegativelyethermarketsupplywillsufferiftheMergeisnotlaunched,said"However,asupplydynamicsthiscouldnegativelyaffecthowwillbeusedliquiditypools,bothDeFiandevenmore�"themonthsfollowingswitchtoconsensus,numberofnewtokensisexpectedtoWithtokenissuancetheblockchain'smechanismcontinuetoremovefromcirculationas
As some Ethereumbased protocols lag behind the Ethereum chain in their transitions to ThedowntimealsoDeFiconsensusproof-of-stakemechanisms,platformscouldexperiencenetworkMergemayresult
The study focuses on potential delays that may arise during Ethereum's transition to a shrinklendingplummet,stablecoinupgrade(anddueormayDeFiconsensusproof-of-stakemechanismlendingplatformsexperiencedelaysservicedisruptionstothelong-awaitedoftendelayed)techConsequently,valuescouldandDeFipoolscould�
their developers work on the issue, Ethereum could temporarily pause or halt block production "
According to a report published Friday at DappRadar, Ethereum's upcoming Merge could significantly affect DeFi protocols on crypto's most popular decentralized finance chain.
NEWS UPDATES &
in technical difficulties, such as inproof-of-stakeissuesbetweendesynchronizationtimestampnodesorotherthatpreventthefrombeingsync"saidHerreraAs
Decentralized Finance and Stablecoins May be Adversely Affected by the Ethereum Merge
before the Merge The total market supply of ether could decrease over time as a result
A timeline and framework for the Merge were released earlier this week by the Ethereum Foundation However, some platforms have stated that the Merge will not impact their functionality Uniswap's services will "continue to work seamlessly" during the upgrade, they say Beacon Chain's Bellatrix upgrade, which begins the official transition to a proof-of-stake consensus mechanism, will activate on Sept —Crypto Weekly
13www.cryptoweeklymag.com September 2022 | Volume 39
about $50 million weekly trade volume, even though it has decreased significantly in recent
adults report having theyperformedtold46%cryptocurrencies,boughtandofthoserespondentsPewtheirinvestmentworsethanexpectedInthe
NFTs are familiarprobablytoyouifyou
NEWS UPDATES &
The gospel of web3, a decentralized blockchainbased internet, has been preached by blockchain proponents, including prominent venture fund investors A key component of that vision is
WithNFTs�NFTs
Fifty Percent of Americans Don't Care About NFTs
months According to Pew's data, demographics are clearly divided NFTs are more likely to be heard of by men than by women and by young people than by older people Approximately two percentage points are within the margin of error
being one of the best and most salient use cases of blockchain technology, a web3 future—if it's even plausible—still feels extremely far away But a new technological order online would require mass adoption and awareness It appears crypto still has neither
Using blockchain and gamesart,bidder,sold,somethingdigitally-nativetechnology,cryptocurrencyNFTsconvertmediaintothatcanbeoftentothehighestsuchasimages,anditemsinvideoItstillprocesses
—Crypto Weekly
of the survey Moreover, wealthy individuals were almost twice as likely to be aware of NFTs as low-income individuals White, Black, and Hispanic respondents were less aware of NFTs than Asian
14 www.cryptoweeklymag.comSeptember 2022 | Volume 39
are reading this Despite this, only half of US adults have even heard of NFTs, according to a new survey by the Pew Research Center Only 2% of people have bought one�
Aboutrespondents�16%ofUS
first half of 2022, venture capital firms invested $9.3 billion in cryptoenduringstartups,crypto-relateddespitethebearmarketforor"cryptowinter"
GET TWO ISSUES FREE WHEN YOU SUBSCRIBE SUBSCRIBECRYPTOMAG.FINANCETODAY
It became increasingly important for some locals to adopt crypto after the Taliban took over Afghanistan last year Despite this, law enforcement is reportedly clamping down on the situation� In western Herat province, however, at least 16 crypto exchanges have been shut down by the Taliban regime According to its andcausedcurrencycentralAccordingapprovethatinforeigncentralAfghanistan'sspokesman,Taliban-ledbankbannedonlineexchangetradingJune�Further,hestatedIslamiclawdoesnotsuchtradetoAfghanistan'sbank,"digitaltradinghasmanyproblemsscammedpeople;
A high-ranking police officer said Afghanistan's central bank banned crypto in August The Taliban regime has detained a number of dealers who traded digital currencies despite being instructed to stop
The overall digital asset market has helped many people achieve financial independence. wereCryptocurrenciesdesignedto be decentralized oftocryptocurrencyAdeyemo,StatesTreasuryDeputygainrevolutionhope!However,usheredcensorshipareForprotectingtorulecensorship-freeandTalibanledAfghanstoturncryptoasameansofthemselvescryptoinvestors,thingslookingbleakFinancialisbeinginbytheTalibanthereisstillThecryptocurrencycontinuestomomentumTheSecretaryoftheintheUnitedofAmerica,Wallysupportsasawayimprovethequalitylifeforthoselivingin difficult circumstances.
After US forces withdrew last year, the Taliban took control of the economy
16 www.cryptoweeklymag.comSeptember 2022 | Volume 39 NEWS UPDATES &
Afghanistan has shut down exchangescryptocurrency16
The Taliban Usher in an Age of Financial Censorship Banning all Crypto
Last year, Afghanistan ranked among the top 20 countries in terms of crypto accordingadoption,toblockchain research firm Chainalysis.
As a result of adjusting the results for purchasing power parity per capita, poorer countries have benefited.
75 miles (121 kilometers) from the Iranian border
The insurgent group's sanctions disconnectedhavethe Afghan economic sector from the global banking system In order to avoid the Taliban's grasp, some Afghans have continually stored their money in digital assets
Taliban bans crypto
thus, they should be closed All exchangers involved in the business were arrested, and their shops were closed by us "
As predicted by some religious scholars, Taliban officials recently banned cryptocurrency Since digital currency has gambling characteristics and is uncertain in value, these experts feared it would be viewed as "haram" or forbidden by Muslims Some Muslimmajority nations, however, have been more forgiving Dubai's free zone allows
As part of their efforts to improve the economy, the Taliban said they would examine whether digital tokens adhere to Islamic financial practices.
crypto trading, while Bahrain has supported digital assets since 2019
—Crypto
Increasingly, crypto is being used to transfer funds within and outside of the Talibancountryhave arrested 13 people in connection with the recent surge in crypto trading, most of whom have been released Over 20 arebrokeragesFourtokensspotpopulousAfghanistan'sceasedbusinessescrypto-relatedhavealsooperatinginHerat,thirdmostcityandakeyfortradingdigitalofthesixcryptoinAfghanistanlocatedinHerat,acity
Weekly
Taliban-controlled regions host these exchanges
The environmentcrypto in Afghanistan grows tough
FEATURE
18 www.cryptoweeklymag.comSeptember 2022 | Volume 39
Has Much Work Left to do After the Merge
Robert Stone
Ethereum investors have come to understand that the Ethereum Merge in Sept could become one of the greatest events in cryptocurrency, not just for Ethereum Those who got in early on the Merge trade likely made money Since the beginning of the year, Ethereum's price has increased by more than Ethereum's100% transition from proof-of-work to proof-ofstake has already raised concerns in different corners of the crypto world Ethereum's newand-improved version isn't universally welcomed Now the hard question is: Will the Merge make Ethereum better? Think twice before adding to your Ethereum position now, and do your homework before clicking "buy " Performance
Decentralization
significantly decrease Ethereum gas fees� Due to gas fees, Ethereum is arguably facing one of its biggest problems Consider the case where you recently performed any transactions on the Ethereum blockchain When you choose Ethereum over a rival blockchain, you know how much money you lose After the Merge, if gas prices decline only marginally, that would be a huge disappointment
Is that a fair trade-off for an investor? That's why Vitalik Buterin has discouraged
anyone from referring to the new Ethereum as "Ethereum 2 0 " Buterin noted at this summer's Ethereum upgradeconferencedeveloperthatthetoEthereum may
Another important concept in blockchain and crypto is decentralization Power and control should never be centralized but distributed from the center to the edges Now, Ethereum's blockchain is being verified by millions of miners worldwide, helping add blocks and verify new ThetransactionsMerge,however, leads to more centralization as Ethereum transitions to proof of stake It is required that the most important validators stake at least 32 ETH on the Ethereum blockchain network About $64,000 worth of Ethereum was traded this summer, which amounts to nearly $2,000 in value� For many Ethereum miners, becoming validators becomes pointexpensiveprohibitivelyatthatpriceItisstillpossiblefor
only be 55% complete. Several months will still be required for the "Surge, Verge, Purge, and Splurge " After the Merge, there will still be lots of work to do Knowing that as an investor will help you avoid
19www.cryptoweeklymag.com September 2022 | Volume 39 FEATURE
Theydisappointmentevenpublished a list of "Misconceptions" about the merger Ethereum has done a good job of calibrating investor expectations Everything seems to be going smoothly as we near the finish line. There is a lot of interest in this working out� The Ethereum community has put their full trust in Vitalik Buterin — we hope he won't disappoint us in September
That's not necessarily a bad thing Vitalik Buterin's decentralization"new"beandproblematicbutandtoblockchainPreviously,andsecurity,followingoptimizeaTrilemmaBlockchainpositsthatblockchaincanonlytwoofthethreefeatures:scalability,decentralizationEthereum'swasableoptimizesecuritydecentralization,scalabilitywasSecurityscalabilitywilloptimizedintheEthereum,butwillnot
them to stake Ethereum, but they cannot be validators As a result, there is some discussion in the blockchain community about Ethereum's future if only a few wealthy institutions or individuals control it
The Merge mainly focuses on the performance of Ethereum's blockchain There will be an increase in throughput capacity, an increase in speeds for transactions, and a decrease in fees How much will it be? Even after the Merge, Ethereum cofounder Vitalik Buterin has suggested that secondlayer scaling solutions will be required As a result, Ethereum is still likely to face scaling issues In addition, not everyone is sure the Merge will
A look at What Causes Crypto Markets to Crash
Cryptocurrencies remain popular despite their volatility� There have been several times when Crypto has taken a big dive in the past. Cryptos fell by more than 45% from mid-May to mid-July 2021. Early Investing's vice president of strategy, Vin Narayanan, predicts that cryptocurrency adoption will increase To avoid crypto crashes, investors may want to know what to look for until then
This year has been a tough one for the crypto market Last week, Bitcoin (BTC) lost nearly 60% of its value, while other top currencies like Ethereum and BNB are down 50% or more. By market capitalization, these are the three biggest cryptocurrencies - not including stablecoins Tether (USDT) and USD Coin (USDC), which are dollar-tied
20 www.cryptoweeklymag.comSeptember 2022 | Volume 39
FEATURE
Cryptocurrencies should be uncorrelated assets, which is part of their beauty Put another way It should float freely, independent of the rest of the market In reality, that doesn't always happen, as 2022 demonstrated Peters says againstworld'scryptocurrencymistakenEarlywithCryptoAccordingoverofthankstraditionalmoremarketscryptocurrencyhavebecomeintertwinedwithmarketstotheadoptiontraditionalmarketsthepastfewyearstosomepeople,highlycorrelatesthestockmarketadopterswereinbelievingthatwasthenewesthedgeinterestratesand
—Crypto Weekly
Fear caused by crypto breachessecurity
Volatility caused by crypto influencers
According to Peters, "crypto advocates and key influencers can tweet and cause capital inflows." We have seen this with Elon Musk's support for Dogecoin� As well as having a positive effect, tweeting can also have a negative one� Due to Crypto's lack of liquidity and dependence on investor sentiment, this asset class is highly volatile Stablecoins may offer investors an antidote to this problem Crypto traders can use these
coins to enter and exit positions easily� marketpricescryptocurrencybetweenCorrelationsandthestock
Regulation cryptocurrencyof
Leverage is too high among crypto investors
Market liquidity is the biggest problem the crypto markets face when leveraged investors liquidate a large portion of their assets In contrast with the stock market, there aren't always a bunch of buyers waiting to buy unloaded coins Crypto crashes tend to occur over weekends due to this reason Fewer investors tune in to buy when a lot of coins are sold According to ff, large institutions cannot trade small coins because they upset the markets
Prices could then drop even further as futures holders begin to liquidate their positions It is similar to what happened to the stock market in 1929 and 2008 However, markets like Crypto lack liquidity and are particularly susceptible to such crashes
FEATURE
As Narayanan says, it is important to determine investors' time frame for holding digital assets and whether they can stomach market downturns
finding limited supply and enduring appeal coins
The hash rate is the number of calculations performed per second in the crypto world These calculations affect a coin's price, which allows miners to create the coins they're mining The hash rate decreases when prices decline The opposite may also be true Cryptocurrencies are often used to pay miners China's ban on crypto mining in June 2021 forced miners to relocate to more miningfriendly jurisdictions, significantly impacting crypto investors It also means that if governments restrict mining through regulations, crypto prices can fall
liquidated whenever a price decline occurs�"
A substantial amount of Crypto can flood the market when whales sell large positions There is a supply glut with limited demand as the coins funnel into the broader market�
Early in Futuresinvestorshighs,leverageCryptoQuant'sJanuary,BTCratiohitall-timeindicatingmoreweretakingrisks�purchasesare often financed by debt, just as in traditional markets� In this way, miners can hedge against future price drops in the coins they're mining� These amounts of leverage "could spell volatility for cryptocurrencies in the near term," says Simon Peters, senior account manager at eToro Peters warns that "longterm positions could be
If Bitcoin had a security flaw, that would make people less inclined to mine it, which could affect its price and hash rate faceCryptocurrencyinvestoraremostbywhichsaysassetarewoulddisruptionsGovernmentofthiskindunfoldsimilarly"Wedealingwithanewclass,"NarayananUnlikestocks,aresupportedunderlyingassets,cryptocurrenciessolelydrivenbysentimentinvestorsthechallengeof
Comparedinflation.
Crypto markets lack liquidity
to the S&P 500, the crypto market has plunged 45.3% year to date through May 12� It doesn't help the case that this plunge is uncorrelated, that it occurs during a period of rising rates
Peters also blockchainscitesand network security as factors causing crypto crashes
21www.cryptoweeklymag.com September 2022 | Volume 39
maturing crypto industry should support those efforts, even if it means siding with the state�
Despite the numerous privacy innovations occurring in the crypto industry, it's bycannotthatincreasinglybecomingapparentconsumerprivacybeentirelyassuredincreasingaccesstocryptoFederalactionisalsoneededtopreemptandcriminalizetheworstprivacyabuses,anda
FEATURE (CONTD )
Data collection by companies online would be limited by the
American Data Privacy and Protection Act (ADPPA), a currentlyprivacy-enhancingproposedbillsnakingitswaythroughtheUSlegislativesystem�Uponpassage,itwouldbethemost significant internet law introduced in decades, bolstering civil rights significantly.
Keeping Data Private and Protected: Why Crypto Should Support This Act
22 www.cryptoweeklymag.comSeptember 2022 | Volume 39
Internet traffic has been negatively affected by the adtech industry, which is a behemoth The U S has lagged behind all other countries regarding consumer privacy
regulations� As a result of this gap, Big Tech can profit from monitoring and monetizing your personal and sensitive information To cut out the intermediaries, we need crypto
To reduce the amount of information corporations are able to exploit, ADPPA focuses on what is called "data minimization " Data will only be collected and used for 17 essential purposes, such as authentication and fraud management Privacy is the default setting
Legislation can either be symbiotic with code-first approaches or cripple them Earlier this month, for instance, the U S Treasury however,forenhancingbeenworldbeingnewencouragementButlerdoingfacenotbycanlaunderingtoprohibitedconsumertheanonymizerCash,sanctionedDepartmentTornadoablockchainEventhoughcodeisstillrunning,accessisintheU�S�dueconcernsaboutmoneyTheblockingbeeasilybypassedusingaVPN,butthat'sokwhenyoumayfederalchargesforsoexpressedtoseetoolsandsystemsdeployedintheofWeb3,whichhasdevelopingprivacy-technologiesdecades"Webelieve,thatincreasing
As a result, companies like Google, Facebook, and Coinbase (COIN) could not track your web behavior across different websites and over time It restricts the collection of data and the "transfer" of it without your consent In Butler's opinion, the bill would drive a stake through the shady practices of data brokers
In a letter last week to House Speaker Nancy Pelosi (D-Calif ), EPIC was among 50 public interest, consumer advocacy, and civil rights groups urging Congress to act As a result of unawareness or disinterest, no crypto firms or projects have signed on� Regrettably, this has happened Digital rights can be information)biometrics,asusingTargetedlegislativecontributingthroughstrengthenedcryptowhiletotheprocessadvertisingsensitivedata(suchprecisegeolocation,andhealthwouldbe
levels of privacy protection for all internet users is the most important thing right now "
—Crypto Weekly
"This is why we believe Congress must set strong, baseline privacy requirements that will encourage the use of systems,"privacy-protectiveprocessorsdatatechnologiesprivacy-enhancingandmakecollectorsandusemoreheexplained
"With its requirementsstrict for data tweaked.stillseveralcollection,practicestheandAmericans'billcategories),sensitive(especiallyminimizationfordatathewouldprotectprivacylimitsomeofmostharmfulindatabutminorissuesneedtobe
24 www.cryptoweeklymag.comSeptember 2022 | Volume 39 FEATURE
algorithms, such as zkSNARK proofs, contributing significantly to privacy and cryptography research
Since June, the bill has been substantially revised Many privacy experts have praised it now, and it is likely to receive bipartisan support (the kind usually reserved for military budgets) Butler said that this effort could be thwarted by the upcoming U S election cycle
prohibited under ADPPA
"With its requirementsstrict for data minimization (especially for sensitive data categories), the bill would protect Americans' privacy and limit some of the most harmful practices in data collection, but several minor issues still need to be tweaked The president and executive director of the Electronic Privacy Information Center (EPIC), Alan Butler, said )
The crypto industry primarily focuses on developing tools or methods to shield your transactional history from prying eyes The industry founded some of the earliest uses for advanced
) Y D
Hello, new world.
Let’s get ready for the future. Join us for what’s next: cartesi.io
Picture a whole new world on the rise. A decentralized society fuelled by blockchain technology. It could affect our economy, banks, businesses, even our social media. Cartesi connects what we know today with the new, bridging the gap between Linux and the blockchain world.
crypto regulators, haters, and those with vested interests in the fiat financial system all used the decline to argue that cryptocurrencies are dangerous scams
The predictions of imminent doom were premature Bitcoin is up
Following the thrashing of the crypto markets several months ago, Bitcoin and Ethereum prices crashed nearly 80% from their all-time highs Some predicted the early death of the crypto industry Those who seek to restrict or outlaw cryptocurrencies,
market experienced a number of scams and failures among previously large crypto funds and lenders in the quarter, causing a domino effect across the entire industry, similar to the collateral damage caused by banks or hedge funds in a conventional market
FEATURE
40%, and Ether's price has doubled since the low point in June� Prices will inevitably rise and fall There will always be volatility� It's not important�
As a result of the concurrent decline and resurgence of the equity markets, the crypto
26 www.cryptoweeklymag.comSeptember 2022 | Volume 39
Wallet Addresses Must Die
However, as of today, crypto remains a tool of the few� There are only 300 million crypto users in the world, which is about 4% of all 8 billion people in the
Behold two actual, reallife cryptocurrency wallet
The problem is not only are wallet addresses hard to remember and use, but mistakes can have serious consequences, resulting in irretrievable losses The user experience is multidimensionally poor
As a result, cryptocurrency wallet addresses are terribly designed for most common uses, and this is preventing adoption In Paypalwithifmustproblemintowhicharecryptocurrencyeverydayuse,theythebiggestpainpoint,iswhyIhavegonesuchdetailabouttheCryptocurrenciesbemucheasiertousetheyevertrulycompeteVenmoVisaandThisprocessneeds
Despite this, several long-term risks could prevent this potential from being realized: the lack of consumer adoption, regulatory interference, and emerging new technologies that are not anticipated We should give crypto a fair shot at developing and succeeding, just as enlightened U S policy enabled the development of the Internet
Over time, and despite numerous crashes and broken bones, the obvious mobility benefits made it Thereworthwhile�isnodoubt that Bitcoin, Ethereum, and some worldsprofoundlyinnovationrepresentcryptocurrenciesotheratransformativethatwillimpacttheofmoneyand finance and much more in the years to come
27www.cryptoweeklymag.com September 2022 | Volume 39
addresses neither identify the recipient nor indicate which currencies the wallet can handle
FEATURE
However, despite the upset, the crypto industry has remained extremely optimistic, fueled by an unstinted faith among a good portion of the crypto investing public in the purpose, utility, and potential of the crypto revolution for solving real-world issues such as financial inclusion for the poor and unbanked, inflation caused by excessive deficit spending and debt, monitoring,governmentalProspectfor confiscation of assets without a warrant, and the monopolistic control of traditional financial markets by big banks
For example, the early days of automobiles saw government officials and the era's media influencers pushing to outlaw them as dangerous nuisances
After8DAzoutZEVux1K4p7eEKWx76vLKMD9SSynZ8o9ifD3AyXkAJPnwLQ1Xx6Phn2i3iGqhzbaddresseslookingatthesefor a moment, tell me anything you know about them To whom do they belong? Is there a ThereWhatassociatedcurrencywiththese?blockchainisit?isnosimpleway to tell if assets are being sent to the right recipient or even the right blockchain in today's businesswhethersentlandscapecryptocurrencywhentheyaretoanotherwallet-itisapersonora�Presently,wallet
The crypto industry is bound to have its ups and downs, false starts, and dead ends, just like any disruptive technology
Many Consumers May Never Catch On Email, browsing the web, online social networks, and smartphones were among the useful applications that helped make the last technological revolution successful Email taxation was suggested by some lawmakers in order to compensate for lost postal revenue, despite reason
to be simplified and made more forgiving
The industry is now developing products
world though it is roughly one in five in the U.S. and Europe For crypto to survive and thrive, it must be made easier to use by the general population
What happens if your friend sends an ETH wallet address instead of a BTC wallet address? Maybe they accidentally cut off one of the characters when copying it from the wallet� That money is gone� An error cannot be easily detected before it is too late� Neither feedback nor error forgiveness is available in the current system� For the average user, there are far too many points of failure
There is an imminent regulatory confrontation in the United States, and regulations may be issued that make using nonCBDC coins illegal or so burdensome that they are useless
U S SEC Chairman Gary Gensler, the president of the European Central Bank, Christine Lagarde, the U S SecretaryTreasuryJanet Yellen, the former U S Foreign Minister Boris Johnson, and former Trump have denounced crypto as a scam that requires substantial regulation and government oversight, if not an outright ban However, these criticisms always fail to mention that cash and bank wires are used for far more fraudulent or criminal transactions than crypto or that the U�S� dollar is the most favored currency of organized crime
It is often the case that revolutions launched with great enthusiasm do not ultimately succeed and end in obscurity Finance, government,economics,politics, and even democracy are undergoing a revolution� Government regimes view what advocates see as potential benefits as threats and dangers
the lead, banning Bitcoin for all practical purposes in the formal economy while issuingsimultaneouslyadigitalyuan that is ultimately controlled and monitored by the party
FEATURE
and innovations to demystify crypto and make it more accessible to those outside the highly technological world it has traditionally represented Interference from regulatory agencies is an dangerever-present
28 www.cryptoweeklymag.comSeptember 2022 | Volume 39
Every individual who cares about financial decentralization, wresting control away from "too big to fail" banks, transaction anonymity and immutability, data ownership rights, online privacy, and individual sovereignty should support the crypto revolution
Governments will be able to control every aspect of citizens' lives if regulation is not checked Bitcoin and Ethereum enable financial privacy and autonomy, among other crypto projects, and as CBDCs are implemented worldwide, "freedom" crypto, as I call it, will directly conflict with TornadogovernmentsCash has been sanctioned by the Treasury's Office of Foreign Assets Control (OFAC), which allows users to Thereworldpubliclydata,supplierpoliticaltheirinoversteppublicdotransactionsanonymizethattheynotwishtobecomeThisisanominousfromnormalityUSlawNoonewantsmedicalexpenses,contributions,orcustomerandotherspendingavailableforthetoseeisahighlikelihood
that OFAC's financial crimes sanctions — typically aimed at terrorists, traffickers, criminal networks, and the like — will be challenged since this is the first time they have been applied to computer code rather than individuals or legal entities
InnovationUnforeseen
In other words, the same technological advances that enabled secure distributed networks, blockchain applications, and cryptographic keys may be their undoing The "unbreakable" private keys that secure digital wallets may one day be rendered unusable due to advances in quantum computing� The maydigitalkeyscryptographic"unbreakable"privatethatguaranteewalletsecurityonedayberendered
The risks of interferenceregulatoryandlack of adoption are well-known and often discussed Pure technology risk is less frequently considered�
unusable due to advances in quantum computing In only the next five years, this may be widely available, computationsenablingata speed and complexity that are impossible today
CBDCs will be imposed upon us as a tool of the surveillance state� Central bank digital currencies (CBDCs), whether issued by the United States, China, or the European Union, have many viable uses� Still, they can also be used as tools of ultimate surveillance about how we live our lives The Chinese Communist Party has infamously taken
ONLINE SOCIAL NFT GAMEInitial Room Offering First And Only Real Estate Sale Different CRYPTOPOLISRarities Sign up for the whitelist today for a chance to win a Rolex Datejust 41, approx. value $15.000 USD “The Sims Of Web3” “1380 Rooms For Sale”
Social media influencers sometimes lure victims of rug pulls According to CNBC, a class-action lawsuit was filed in January by investors
30 www.cryptoweeklymag.comSeptember 2022 | Volume 39
Regulations hold NFT projects to the same standards as real estate, stocks, and other investments, according to NFT Now In the same way, as Wall Street does, it is illegal to solicit funds for investment projects and abandon them without refunding their Asinvestmentsof2021,rug-pull scams are draining $3 billion in crypto, accounting for 40% of all crypto scam revenue, up from 1% in 2020
You Should Take a Closer Look at Any NFT Airdrops You Receive
The old Pump-andDump Stock Scam or "Rug Pull"
alleging Floyd Mayweather and Kim Kardashian artificially inflated the price of a cryptocurrency called Ethereum Max that is unrelated to Ethereum
The rug-pull scam, also known as "pump and dump," is a trap in which crypto developers mislead early investors about the potential of a nascent NFT As soon as the NFT's price reaches a certain level, the developers disappear
The airdrop scam originated in the DeFi field but has now spread to the world of NFTs These kinds of scams involve users receiving tokens in their wallets that they have never heard of and didn't request� This isn't inherently partyredirectAirdropfrequentlylegitimateandnefariousaUnsolicitedsuspiciousairdropsarevaluabletoolinnon-NFTmarketingpromotionthatproducersusescams,however,userstothird-websiteswhen
common scams you should watch out for if you dabble in NFTs or are considering it
Even though down recently, the worldwide NFT market has reached $11 billion and is expected to surpass $230 billion by 2030, according to industry experts Whenever so much money is exchanged, one thing is certain —Criminals will try to steal as much as possible from it
Here are NFT's Biggest Scams to Be Aware of Right Now
FEATURE
Rolling Stone reported, "NFT scams everywhere,areand it's a good idea to accept that everyone is one until proven otherwise " Since the dawn of the blockchain industry, industry insiders have warned NFT traders about the prevalence of digital fraud These are the most
LikeResearch�email
phishing, NFT scammers impersonate the most credible and largest companies Upon clicking on an ad, users are directed to a fake site that imitates a legitimate site for downloading digital wallets, such as Metamask, or changing currencies, such as Uniswap and ItPancakeSwapisrequiredthat victims enter their private wallet keys or 12-word security seed phrases on the imposter site - a major red flag that should always raise suspicion - paving the way for digital theft
www.cryptoweeklymag.com
Discord Bots hacked for April Fool's Discord, a newtasksintelligencethatmessagingsocialplatformusesartificialtoperformsuchaswelcomingusers,banning
troublemakers, and moderating discussions, is no different Nyoki Club, Bored Ape Yacht Club, and other popular NFT communities were hacked by hackers in April The attack occurred on April Fool's Day, which is Hackersfitting hijacked the communities' bots to trick users into clicking malicious links that purported to lead to newly minted NFTs with exclusive rewards The NFTs, however, never existed, and the posts linked to phishing sites where buyers paid - tens of thousands of dollars sometimes - for tokens that didn't exist�
—Crypto Weekly
Usingemailfake search engine ads that appeared to lead to legitimate websites, criminals duped victims out of nearly half a million dollars in November 2021,
FEATURE
Remember Phishing Scams? They're Back
31September 2022 | Volume 39
According to Phishing org, the term phishing dates back more than a quarter century to 1996, when the Usenet newsgroup AOHell first coined the phrase With the advent of blockchains, scammers have updated the classical swindle tied to
they try to collect NFTs or trade them for cryptocurrency Before collecting their prize, they must navigate a series of recoverysecurity/passwordphrasesItis at this point that the victims unknowingly give the criminals access to their wallets
according to Check Point
As of 2021, rug-pull scams are draining $3 billion in inrevenue,ofaccountingcrypto,for40%allcryptoscamupfrom1%2020.
An interactive virtual space created by the convergence of virtual worlds, augmented reality, and other related spaces In the Metaverse, people from all walks of life are connected in a
CrashtheNealtheiraccessibilityusersintoall"universerealityasworldbroughtThecyberspacethree-dimensionalenvironment�digitalworldcanbeintothephysicalandjumpedintoanentirelydigitalInessence,it'sa�"ItcombinesthedigitalspacesoneplacewherecangainonlineandconducteverydayactivitiesStephensoncoinedterminhisbookSnow(1992)
Buying virtual land and selling it later at a profit is the most common way to make money in the Metaverse In other words, you purchase a property in a bustling community and wait for it to flourish before selling it to make some good money Because you don't know how much people will pay for your
The Metaverse has some key elements, but as of yet, it has no clear definition. This is since its very essence is still evolving and changing today� The pioneers of the Metaverse are still fine-tuning and defining it, so we can explain its current components and future plans while it is still
Robert Stone
32 www.cryptoweeklymag.comSeptember 2022 | Volume 39 Part 1:
Our ofalandscapetechnologicalcurrentisundergoingMetaverseboom,onethemostanticipateddevelopmentsinyearsOneofitsmostfascinatingfeaturesisthepossibilityofearningrealmoneythroughthemedium�Money-makingintheMetaverseisnothingnew,
Buy and Sell Real Estate
FEATURE
MoneyMakingIn MetaverseThe
I may be going on for weeks about the myriad ways to make a living from activities related to the "Metaverse " Below are a few ways to earn money in this virtual network� This is part one
Thedeveloping�Metaverse provides users with variousdigitalfromyouphysicalactivitiesmoneyopportunitiesmanytoearnthroughdifferent�Asinanyordigitalrealm,canobtaincashthissimulatedenvironmentinways
and it isn't as difficult as it sounds Although most virtual reality (VR) and augmented reality (AR) entrepreneurs are still focused on selling their products and services, others have begun exploring ways to generate revenue through these technologies
A number of paths are available to you Firstly, you can do real estate flipping. This involves purchasing digital property and reselling it for a higher price when the demand increases In addition to becoming a virtual broker and earning commissions, you can also act as an advisor for customers if you have more experience in this field. Additionally, you can serve as a virtual broker and connect virtual merchants to potential
put all of your creations up on open marketplaces in the Metaverse by automatically turning them into NFTs If you aren't adept in creative work, you can also venture into the world of NFTs by opening art galleries� For a fee, you can even act as a "broker" and sell other people's NFTs�
You might want to break into the Metaverse for profit as a creative professional or hobbyist You can make something in the Metaverse using NFTs Create digital art and sell it to collectors worldwide in a digital " art gallery "
land in the future, this method isn't easy�
you can rent out the land you buy� inoutthatinfrastructureestablishmentsBuildingandonthelandcanevenberentedorsoldtocompaniesthefuture
A brief note: There are many other playto-earn games out there, too many to list here I could write ten pages on just ICE Poker but this is only a brief synopsis and not an encyclopedic work So go out there and explore in depth if any of these descriptions are attractive to you Next week in part two I will go into Metaversemakeopportunitiesmoretomoneyinthe
Make tokensnon-fungible(NFTs)
over $69 million at times Of course, those kinds of sales are extremely rare However, there is definitely a ripe market for digital art ownership In the Metaverse, it is one of the easiest ways to make money
The potential for NFTs is enormous, regardless of your role There have even been auctions and bids for
Earn money by playing games
FEATURE
Ascustomerswellasmanaging your own property, you can also manage other people's real estate� You can earn some money managing digital venues like concert halls� If you have a bit more creativity, you can also design and conceptualize virtual properties� Virtual shopping malls, stadiums, and even homes can be created If you want to take a more traditional approach to real estate,
Currently, virtual real estate is worldsMarketplacesboominginvirtuallikeDecentraland and Axie Infinity are booming The Metaverse can prove to be a lucrative investment if you can forecast the growth of certain areas well and earn a reasonable return on your investments
The Metaverse is full of play-to-earn games allowing players to earn cryptocurrency while they play These games are great for making money in the Metaverse if you love playing video games We can debate whether they are crypto games or actualM, but crypto games offer easy ways to make money by playing something we enjoy
Do you have no idea how to profit from NFTs? The process is simple
XP tokens can be earned by battling with tradeable creatures called Axies in Axie Infinity, one of the largest crypto games You can earn NFTs and tokens by playing games developed by Gala Games, a crypto games
To play ICE Poker, you must purchase one of their wearable NFTs This will give you a certain amount of chips each day, which you can use to place bets and win tokens
33www.cryptoweeklymag.com September 2022 | Volume 39
studio There will be plenty of competition for you in ICE Poker hosted in Decentraland by Decentral Games In June 2022, 30% of Decentraland's daily users were online only to play poker
Simply create any type of digital art Check out online tutorials on how to make NFT artwork if you have Youtroublecan
As technology advances, digital artists are finding new ways to display and sell their work when technology constantly evolves� It is harder to own digital art than traditional art, and "crypto art" was first sold in 2014 to solve this problem, but it also created new ones�
How N FTs Could Revolutionize the Art Industry
34 www.cryptoweeklymag.comSeptember 2022 | Volume 39
FEATURENFT
Robert Stone
So, let's get back to the 'realness' of NFTs How likely is it that you would purchase an item that doesn't exist in the real world? Digital items have transcended tactile reality some time ago, whether it's a video game item or an avatar in a social network You may have spent gold coins or gems in-game� There is a possibility that you spent actual money Perhaps that currency was -gaspa Lotscryptocurrencyofpeopleget nervous
from being reproduced Because of its scarcity, collectors also place value on it
We buy some things to consume, some to touch or wear, and some to display or decorate Think about how digital art can qualify in these categories as you visualize items that fit these categories. When you are interacting in digital spaces, you may
Crypto art is digital art that uses andconsumerstechnologyblockchaintoallowtobuy,sell,tradeartworkasif it were real Crypto art can be verified using NFTs (non-fungible tokens) Essentially, NFTs represent unique IDs that are linked to pieces of crypto art and cannot be duplicated They serve as proof of ownership Bitcoin and other cryptocurrencies are exchanged using blockchain theExchangingcantypesatheTransactionsdatabaseshavebeenmostcommonuseofblockchain,butdifferentofinformationbestoredtheredigitalartonblockchainhassimilar benefits to exchanging misunderstoodCryptocryptocurrenciesartisoftenas to why people would pay for it when it can be downloaded and saved for free� You can go see the Mona Lisa and take a picture of it But you don`t own the Mona Lisa� An image downloaded online is worthless, but an original work linked to NFT can increase in value over Cryptotimeart can be bought simply to increase in value, or it can be bought to support an artist or to feel a connection with it A crypto artwork's value is determined by its scarcity, and the NFT prevents it
35www.cryptoweeklymag.com September 2022 | Volume 39
when the lines between what's real beginning to blur, whether it's a form of currency or an object
Every observer who interacts with art appreciates it differently The world of NFTs will also be filled with creators and consumers who understand the item's purpose or function�
So,spacetoanswer
why a person would purchase digital art, we must explore why anyone would purchase any art You feel moved by it� Because you want to support the artist and therefore see more of his or her work� It makes you happy to own art Logic and rationality must sometimes depart from this world for it to exist Those are the answers you can give to anyone who asks
This makes sense Let's
Crypto art offers the following benefits:
FEATURENFT
look at what's really going on instead of freaking out It's just a new wave in virtual product ownership that we're seeing today in digital art and NFTs
actually find your avatar and other imagery more meaningful than your physical living or working
Investors, consumers, and artists are all affected by crypto art With many
The NFTs for the 'Get It' crowd
Unlike the fine art world, where artists rely on auction houses, gallery
owners, and expensive advisor coordination, crypto art is transferrableinstantlybetweencreatorsandbuyersAdditionally,cryptoartistscanposttheirworksonmultiplemarketplacessimultaneously,givingthemmoreopportunitiesandexposureThankstocryptoart,artistscanbecreativewithout
FEATURENFT
The Drawbacks of Crypto Art:
possibilities, it's an exciting and new idea Crypto art has many positive aspects� Every piece of crypto art will be guaranteed to be authentic and owned by its owner It is also important to collectors that they own a "one-of-akind" piece
boundaries By integrating digital art into the fine art world, we are introducing a whole new form of artistic expression
Crypto art has several concernsenvironmentalThere are always downsides to technological
36 www.cryptoweeklymag.comSeptember 2022 | Volume 39
advancements Since crypto art lives on the blockchain, the technology consumes a great deal of energy, making the current model very harmful unless the Merge works out for Ethereum, which is coming in just a couple of weeks, so let's hope it does Based on Bar and Line's research, the carbon footprint of a single work of crypto art is nearly double that of a
Chainalysis said in a recent report that the "excitement surrounding NFTs appears to be waning," Google searches for "NFT" have dropped 50% since early March. The report notes that social media mentions of NFTs are also down, but comparing them to other
topics is tough because the market is so young
Overpriced assets become more valuable because someone is always interested in paying more According to Gates, NFTs are "not very energy-efficient," and the
37www.cryptoweeklymag.com September 2022 | Volume 39
But are NFTs really dead?
engineering behind them is "unsuited" to the large volume of transactions required for widespread adoption While Gates acknowledged that NFTs could be used for authentication or digital art, he suggested that their current popularity is more a matter of hype than reality
Recently, NFTs have been the subject of negative media coverage lately They have been described as "scams" that allow rich people to purchase worthless digital assets at inflated prices They have been hailed as revolutionary new technologies that will revolutionize how we think about ownership and value Is there any truth to this? How effective are NFTs? The world of NFTs has certainly seen some questionable practices, but the potential to change the world profoundly can't be Asidedeniedfrom providing a profile picture, NFTs can provide more utility than other blockchains� Essentially, an NFT is a compilation of code that proves ownership� A smart contract is a code that can execute a wide range of actions Each time an NFT changes hands, sellers can include stipulations
entitled to a share of the sale NFTs can revolutionize digital ownership in this way It allows buyers to engage in resale activity with the peace of mind that they will still maintain some control over their investment It is easy to compare NFT art to Andy Warhol's because it is so commercially oriented (an insult to artists back then) He famously elevated everyday objects like Campbell's soup cans and Coke bottles to high art As with the current profile picture (PFP) trend in NFT, he reproduced and iterated andtokenswhoyearsdigitalanifbutcreativeexcitingrelativelyForandMaoMichaelthosephotographsheadshotsuchasofMarilynMonroe,Jackson,andevenZedongwithcolorfulplayfulelementsnow,NFTsremainnewandanmediumforpeopletoexplore,nooneknowsforsureblockchainwillbecomeimportantaspectofartbutIbelieve20fromnow,artcriticstrashednon-fungible(NFT)willlookbackdeclarethemasthe
Recently, Bill Gates criticized the NFT trend, saying it's based on the " biggest fool" concept.
Recently, Bill Gates criticized the NFT trend, saying it's based on the " biggest fool" concept
defining point of 21stcentury art
FEATURENFT
person's annual carbon footprint at this time
Kodi is creating an industry-first Entertainment Network that will become THE place for crypto investors to socialize, have fun, win prizes, and learn about everything crypto Is there anything more about Kodi? How do you, as an investor benefit? Kodi by itself, is an entertainment project Kodi plays games post podcasts, do AMAs, have tournaments, live streams, and play plenty of music� At Kodi there are two subsidiaries "Pitch" being the in-house advertising agency, which is a one-stop shop, all things content creation, both in crypto and fiat. Branding, websites, commercials, you name it Kodi does it The
Pitch Advertising Agency and CookieSale launchpad Cookie Sale will work in unison to become the go-to destinations for developers to build their brands and launch their projects With Cookie Sale, you can launch your project from A to Z Gone are the days of taking your token supply. Kodi simply charges a flat fee, no strings attached
CookieSale will be bought back into Kodi and then airdropped to holders, holding 10 million or more Kodi tokens
From advertising to zhooshing up your “cookie” there will be something that satisfies almost anyone’s tastes As a Kodi holder, a percentage of the revenue generated through
Cookie Sale launched in February 2022, and aims to become one of the biggest launchpads for tokens on the BSC With its sleek design and easy-to-use interface, CookieSale looks to be adaptable and adoptable for developers and a safe environment for investors CookieSale works side by side with Kodi’s marketing & advertising agency Pitch. This benefits developers and holders of Kodi as well As a developer, you will be able to use CookieSale as an “A to Z” platform
Clear Vision
PROJECTcookiesaleiocookiesalekodicoinkodi_coin 1 PROJECT 2 Cookie Sale
One notable feature that stands out amongst other launchpads is that CookieSale will only charge a flat fee for listing. Developers will be able to launch the right way, without the fear of a large sell from the launchpad taking profit.
Backed by powerful auditing companies such as Certik, SpyWolf, Brewlabs, Dessert Finance, Contract Checker, and HashEx developers will be able to choose between three pre-audited contracts or create their own and have it audited separately Other key features include liquidity locking, anti-bot features, custom airdrops, visual cues to aid in identifying safer investments, and more
cookiesale
38 www.cryptoweeklymag.comSeptember 2022 | Volume 39
Kodi’s mission is to create a one-stop-shop IDO platform and provide investors with an interactive Entertainment Network that will keep users engaged, informed, and entertained while investing in the crypto space
So how do you benefit as a holder? Well, if you're, a holder of at least ten million KODI you receive BNB, rewards automatically deposited into your wallet You also can participate in Kodi`s weekly games where you can win, BNB for free But here's where things get really exciting Two percent of every transaction goes straight into the Kodi treasury contract The treasury buys back Kodi tokens, creating an increase in price, and stores them in the treasury Twenty percent of these tokens are burnt and 80% gets used to top up the staking pools as needed revenue generated through pitch and cookie sale also gets added to the treasury contract This creates the ever-increasing price floor, whilst also removing tokens from circulation Go say hi on their telegram community, or check out their website at Kodicoin com
Kodi`s vision is to create an ecosystem that will be a driver in promoting a safer economic environment for crypto investors to participate in and for developers to grow their projects
kodicoinofficial HIDDEN gems
Kodi (KODI)
www.estatex.euCLICK HERE www.estatex.eu
DEXs are a cornerstone of decentralized finance (DeFi) and serve as a key "money LEGO" upon which more sophisticated financial products can be built as a result of permissionless
limited insight into their actions, DEXs offer complete transparency into the movement of funds and mechanismsthefacilitatingexchangeADEXcanalsoreducesystemiccentralizationrisksinthecryptocurrencyecosystembecauseuserfundsdo
40 www.cryptoweeklymag.comSeptember 2022 | Volume 39
Robert Stone
financial transactions, which are opaque and run through intermediaries who offer extremely
processors, or contractsblockchain-basedorganizations—withothersmartthatfacilitatetheexchangeofassetsComparedtotraditional
not pass through a third party's wallet
Cryptocurrencies can be traded without an intermediary on decentralized exchanges (DEXs), which are peer-topeer marketplaces where funds are transferred and stored DEXs brokers,traditionally,intermediaries—substitutebanks,payment
What Is a ExchangeDecentralized(DEX)?
BEGINNERS guide
Bancor have gained widespread recognition as alternativesdecentralizedtocentralizedexchangesConversely,decentralizedexchanges(DEXs)haveemergedasalternativestoCEXplatforms,offeringpeer-to-peer(P2P)tradingandaccesstodecentralized
A DEX has some practical advantages over centralized crypto exchanges Stronger security measures, greater anonymity, and better
As every centralized crypto exchange must comply with the "Know Your Customer" (KYC) requirements of the relevant name,accountauthority,competentcreatinganwithaclearaddress,anddate
BEGINNERS guide 41www.cryptoweeklymag.com September 2022 | Volume 39
traditionalliquiditydecentralizedcantheexchangesondigitalBlockchain-basedcomposabilityassetsaretradedcryptocurrency(CEXs),butplatformsthemselvesbecentralizedorByprovidingtothemarket,stockand
do not require users to use their private keys or recovery seeds to trade, they are less susceptible to this risk
access to one's own assets are among them Strong security measures Hacker groups are the biggest threat to centralized exchanges In recent months, security breaches at exchanges such as AscendEX and Coinbase have shaken the crypto industry and seriously undermined public
fiat exchanges ensure traders can enter and exit positions relatively easily Liquidity increases the chances that someone will be willing to transact with a buyer or seller on the other side of a trade Furthermore, centralized exchanges act as custodians by storing and protecting your private keys and acting as trusted intermediaries in trades
The requirements vary worldwide, but even within the European Union, sometimes there are significant differences: The now fifth version of the Anti-Money Laundering Act (AMLA) provides clear regulation by the EU alongside the General Data Protection Regulation (GDPR)
Centralizedtrust exchanges are often cited as frequent targets for hackers due to their custodial nature As a result, they are vulnerable to large-scale theft because they keep their users' funds on the platform� The crypto exchange could possibly perform an "exit scam" by claiming that they have lost control of the private keys and associated assets
finance (DeFi). Over 35 decentralized exchanges are now available As of August 2020, DEX platforms represented 6% of global trade volume, up from 0 11% in January 2019 Based on October 2020 data, decentralized exchanges traded $20 billion per AmonthDEXplatform facilitates the buying and selling of digital assets differently Smart contracts enable DEXs to clear transactions without the need for an intermediary You retain control over your private keys and cryptocurrency funds intermediarieswithout There is no counterparty risk with DEXs, meaning there is no credit default risk, and no Know Your Customer rules (KYC) or Anti-Money Laundering (AML) process is adhered to
A leading centralized crypto CEXstoconsumers,regulations,pricing,security,offacilitatesexchangeeveryaspectdigitalassettrading:fairmarketcompliancewithprotectionofandaccessthelatestassetsMostrequireyoutodeposit
fiat or cryptocurrency into the exchange's crypto wallet before you can trade� A crypto wallet external to your exchange wallet can be used to transfer funds� Also, you can withdraw funds from your bank account by exchanging crypto for fiat. The crypto trading volume on CEXs accounted for around 95% in September 2020 Platforms like Uniswap, Kyber, and
Advantages of DEXs
Users here are responsible for their own account security� A hacker would normally not be able to profit from stealing funds from individual users because it is too difficult and costly Since DEXs
The protection and privacy of personal data
of birth is insufficient. For verification, photo IDs or similar documents are often required
These regulations can, however, be enforced more strictly by countries, as European legislation, for example, does Although crypto exchange accounts are linked directly to real people in EU countries, they have clear differences
Transaction speed
Anyone can review the code of smart contracts on blockchains like Ethereum The security
42 www.cryptoweeklymag.comSeptember 2022 | Volume 39
A centralized exchange achieves liquidity through an enormous amount of capital� The liquidity of DEXs is often impacted by the number of active traders on their platform, unlike central exchanges Furthermore, they often cannot access a fund that would make trading considerably easier With the help of liquidity pools, decentralized finance (DeFi) has found a solution to this problem
of smart contracts is further ensured by audits carried out by reputable companies on large, decentralized exchanges
It can take a long time for orders to be processed on DEXs Before trades can be processed, they must be sent to the network and confirmed by miners. It is, therefore, more likely for DEXs to fail to execute transactions due to cryptocurrency prices fluctuating when being traded as a result of " price volatility "
will need to be refined. Further, their infrastructure built, their toandmechanismsscalingimproved,theirconnectionscentralizedcrypto
Paying attention to differences
The ability to control one's own assets
Potential vulnerabilities may not even be foreseeable by auditors, causing liquidity providers to lose their assets It is also important to note that DEXs are not all trustworthy, and users have suffered hefty losses due to hacking and theft in the past
Users benefit from a high level of privacy when trading on ifgovernmentchangemanagecentralarenow,howeverthenotexchangesdecentralizedThisisimplementedbymajorityofDEXs,AtleastforKYCregulationsunnecessarysinceaauthoritydoesnotthemThatcoulddrasticallywithinterventionsthedayevercomes
BEGINNERS guide
The future exchangesof
Using DEXs gives users full control over their assets, allowing them to spend them as they wish DEXs rarely experience problems such as freezing funds or blocking withdrawals
Furthermore, programming errors are easy to introduce As a result, exploitable bugs can still slip through audits and other code reviews
Decentralized alternatives offer an adoption,sellersofprovidechainstakeholdersandofDEXstradersofanddominateexchanges,alternativeinterestingtocentralizedwhichstillcryptomarketscatertotheneedseverydaycryptoandinvestors�offernewmodelsequitableinvolvementgovernancetothroughon-smartcontractsthatatrustlessmethodconnectingbuyersandToensurefuturetheseplatforms
The vulnerabilitiesSmartinessentiallyexecutedfeeswithuserorderpresentproblem"front-running"isalsoinpublicbooks.Theinitiatestradeshighergastohavethemearlier,buttingline.contract
and legacy financial institutions enlarged
In practice, decentralized exchanges range beingdisadvantagesbedisadvantagestherearedecentralizedTheDEXnotfullyquasi-decentralizedfromtodecentralized,andallarethesamedisadvantagesadvantagesofexchangesnumerous,butarealsosomeDEXsmustweighedagainsttheirbeforeused
A lack of liquidity is a problem
Inissuescase
Robert Stone
The Thing About Ethereum's 'Merge' is That it's Only a Start
43www.cryptoweeklymag.com September 2022 | Volume 39 EDITORIAL
The Ethereum network is a minefield for the uninitiated Consequently, people who don't live and breathe crypto don't participate in it as much as they might because there isn't an easy path for them to follow
So Ethereum's developers deserve credit for making their products less hazardousenvironmentally�Now,ifthey can make it as easy to use as an Android phone and get gas fees to an attractive level, they will be getting somewhere
computer programs and smart software,works,toAEthereumeasytheyaretakesrunningcomputerAnybodycomplicatesdon'tfarproblemapplicationscontract�ThebiggestforEthereumbyisthatmostpeopleunderstandit�ThatthingscanbuyaandbeupandinaslongasittologinComputerseasytousebecauseweredesignedtobetouseisn'tthateasynewuserwouldneedlearnhowthesystemdownloadthesetupawallet,
you haven't heard, the Merge is an update to the Ethereum network that has been in development for years The price of ETH has doubled since the lowest low in the recent crash, and people worldwide are in a state of anticipation
and then learn how to protect that wallet (there's no deposit insurance in crypto) It's not impossible, but it takes some work I showed a friend how to do all those things a few months ago, and it took hours before he could complete the process
The primary benefit of the upgrade is that it will reduce the amount of energy it uses, cutting Ethereum's carbon footprint by an estimated 99%� In addition to removing bottlenecks, the switch should result in lower user fees� Even though those upgrades are great, they aren't actually Ethereum's biggest roadblocks to attracting millions of users Ethereum is more than just a currency: it's also a fuel for building
We have been hearing about the Ethereum Merge for over a year like it's going to be the unleashing of the Kraken and the answer to the woes of crypto It's coming over the next three weeks, and it has a lot going for it, but it won't solve the Ethereum network's main
gets through all the technicalities and has ETH safe in their wallet, anything you can do with it besides buying and selling it is also complicated� Besides that, the Gas fees have been out of sight of normal people�
After a new user
44 www.cryptoweeklymag.comSeptember 2022 | Volume 39 EthereumAlert:Investorsmusthearthis! of weekthe NFT
