That’s right, it could take only 5 more years until Bitcoin reaches 7 figures.

Bitcoin’s market cap is currently sitting at $1 trillion, nearly double where it was in 2020. The rally has been fueled by an increased interest in institutional investors, and a rise in celebrities holding cryptos.

But for Bitcoin to reach the million mark, it’s market cap would have to increase dramatically. It would need a $16.5 trillion dollar market capitalization, a 16x increase from where it stands today.

While the million-dollar milestone seems tough to attain, CoinDesk editor Ollie Leech believes the next halving could send the price into the stratosphere. The next Bitcoin halving (a technical event where the amount of Bitcoin miners are rewarded is cut in half) is slated for 2024.

“The year after halving always seems to create a huge rise… The last halving for bitcoin was in 2020, and so far this year, we have seen prices explode. I don’t know when [bitcoin could cross $1 million] but it will likely be after 2025.”

It all comes down to supply and demand. Bitcoin’s supply is hard-capped at 21 million coins. Better yet, Bitcoin becomes even more deflationary with each halving event. Halvings occur after every 210,000 blocks mined, no matter what.

The halving events combined with the deflationary nature of Bitcoin reduces the supply of new coins.

Here is where it gets interesting: Bitcoin’s demand is likely going to increase from here on. People are beginning to understand the pitfalls of traditional currency. They will become dismayed by inflation rates, and will look to digital currency to ease their worries. Institutional investors will look for better ways to store their money, and will sub sequentially increase the price of the world’s leading digital currency.

Each of these factors will create an environment where supply decreases and demand increases.

Take a look at this chart from inbitcoinwetrust.net:

Declining supply and increasing demand are an economists dream, so it’s no surprise why the price of Bitcoin is expected to reach 7 figures.

Apparently, not everyone is a Bitcoin enthusiast. Crypto is perhaps one of the most controversial subjects in the world today. These days, people are divided on nearly every subject, and Bitcoin is no exception. Traditional investors like Warren Buffett and Charlie Munger detest the idea that money is changing. On the flip side, forward thinking investors believe Bitcoin has the potential to change the world. Take a look at some opinions from both sides of the aisle:

Warren Buffet’s long time business partner, was overwhelmingly skeptical of Bitcoin’s legitimacy, stating:

“I think the whole damn thing is disgusting and contrary to the interests of civilization”

Munger and Buffett have been critics of crypto for years, and they aren’t even holding back now as Bitcoin approaches $60,000.

Jesse Powell, CEO of the popular crypto exchange platform Kraken, also believes that Bitcoin will hit the million dollar mark:

“We can only speculate, but when you measure it in terms of dollars, you have to think it’s going to infinity. The true believers will all tell you that it’s going to the moon, to mars, and eventually will be the world’s currency. We won’t be measuring the price of Bitcoin in terms of dollars but in terms of what else you’ll be buying with it, probably planets in other solar systems.”

“[Bitcoin’s] price rise has been driven purely by speculation — by what Robert Shiller calls a natural Ponzi scheme.”

Bill Maher recently criticized Bitcoin for its large use of energy, claiming that Elon Musk is a hypocrite for having purchased Bitcoin.

“Bitcoin uses more electricity per transaction than any other method known to mankind.”

Many viewers rightfully fired back at Maher, citing his lack of knowledge on the subject, false claims, and fear mongering tactics.

Matthew Frankel is a writer and investment analyst, who had this to say on the Motley Fool:

“While bitcoin would have to work a little to become a major player in the global currency market, the total bitcoin market value at $1 million each isn’t an outlandish amount of money. Widespread mainstream acceptance is what would need to happen before bitcoin could reach the $1 million level, or anything close to it…However, there are some obstacles preventing the mass market from fully embracing the online currency.”

Certainly, there are a lot of different opinions about the future of Bitcoin. Skeptics will shout from the rooftops about how much they hate Bitcoin, but their reasons are often not founded in reality. The reality is, it is completely reasonable for Bitcoin to hit $1 million. We will likely only see that number when mainstream adoption of Bitcoin has occurred on a worldwide basis. Within the next decade, don’t be surprised to see Bitcoin hit 7 figures.

Avivah Litan, a Gartner analyst, remarks, “These companies are offering bank cards that allow users to spend crypto balances and some even offer cash-back or crypto-back awards. We define these types of services as CeDeFi, or centralised decentralised finance.”

What we are witnessing is a market where DeFi apps are set to be embraced by traditional centralised (CeFi) financial companies (such as Visa and Mastercard) to give us a blend of centralised and decentralised finance systems.

However, some people are sceptical about this so-called ‘revolution’, because what happens in practice is, “these offerings come from CeFi companies who currently earn their money by charging transaction fees for settlement, payment services and clearing.” The question they are asking is: “in the future, will they have to pay these centralised services higher or further transaction fees for moving cryptocurrency across blockchain networks, therefore defeating the promise of blockchain.”

Litan suggests that what people are really looking for is something that we haven’t yet seen, and she offers the following ideas:

She highlights the fact that BTC is too volatile to be used for payments — even though that is its use case. However, there is a clear need for Stablecoin payments on blockchains. She says, “This is a value proposition that card brands and alternatives can offer, along with the value-added risk management, cash management, onboarding and more that are consolidated with existing fiat currency services.”

This may prevent payment companies and card brands from earning fees as they do today, but the blockchain is not about upholding the status quo; it is about removing the need for central clearing and moving to a peer to peer structure.

Litan concludes by saying, “Whilst some centralised financial services may not want to embrace the spirit of blockchain, they may find their hand forced as alternative emerging Stablecoin payment networks are more than likely set to fill the market need.”

Creditum plans to deliver Stablecoins to our users in the future. These cryptocurrencies offer a new for of price stability, because they are backed by an existing reserve asset, such as the USD.

Let’s get to understand the Cronos network and Crodo’s interaction with the network.

Cronos is an EVM compatible sidechain running in parallel with the Crypto.org Chain. Before launching Cronos, the Crypto.com ecosystem encompasses the Crypto.com chain and Crypto.com centralized exchange

Cronos is running on a Proof of Authority (PoA) consensus algorithm and is powered by Ethermint — a PoS chain interoperable with Ethereum. It wants to massively scale the Chain DeFi ecosystem, by allowing developers to rapidly port apps & smart contracts from Ethereum and other EVM-compatible chains and one of such port apps being Crodo.

Cronos’ Core Features

Token Name: Crypto.org Coin

Ticker: CRO

Blockchain: Cronos

Token Standard: Updating…

Contract: Updating…

Token Type: Utility and Governance

Total Supply: 30,263,013,692 CRO

Circulating Supply: 25,263,013,692 CRO

CRO Token Allocation

CRO coin only distributes to the secondary market. It means CRO has no pre-sale, no public sale.

CRO is a utility token of the Crypto.com chain, Cronos and the Crypto.com exchange. Crypto.com uses CRO in all aspects of their ecosystem, including:

Payments: Crypto.com Pay, Crypto.org Chain and Visa Card.

Trading: Crypto.com App & Exchange.

Financial services: Crypto.com Earn, Crypto.com Credit & Crypto.com DeFi Swap.

One can say that CRO is widely used in the Crypto.com ecosystem and it continues to grow the utility by being a native token on Cronos.

After analyzing the work of other IDO sites, the following problems was found:

· A chat bot was developed in Telegram, which will warn you in advance about an important action.

· Problem of slow site servers has been solved by using CDN and DDOS protection through CloudFlare.com and hosting servers in Kubernetes on dynamically created virtual servers in DigitalOcean.com.

· Titles have been introduced for holding tokens, which are reset if tokens are withdrawn from the site.

· An ambassador program was created with the ability to send tasks, monitor their status, view the balance of points earned, reminders of new tasks, a competitive system, an affiliate program.

· An ambassador program was created with the ability to send tasks, monitor their status, view the balance of points earned, reminders of new tasks, a competitive system, an affiliate program.

The Ethereum Virtual Machine (EVM) has bred many useful and interesting projects. Instead of re-implementing the wheel, Crypto.org Chain can leverage these existing projects and add on top of the high speed and low transaction costs of Cosmos SDK. Cronos is an EVM sidechain along the main Crypto.org Chain built on Ethermint with smart contract capability. It aims to empower and scale decentralised applications for the future multichain world, focusing on use cases of NFT, DeFi and payments. EVM support will allow for simple porting of apps from other chains, driving exponential ecosystem growth for Crypto.org, a fully decentralised, open-source, public chain with high speed and extremely low fees.

Cronos Testnet is based on Ethermint is a proof-of-stake blockchain built on the Cosmos SDK which is EVM compatible. Ethereum requires improvement in scalability, gas price, and customization. Cronos utilizes Cosmos SDK (opens new window)and the Tendermint (opens new window)Core consensus engine underneath. Tendermint works well for PoS / DPos networks, allows high transaction throughputs, and provides instant transaction finality on block commitment. It was chosen as the consensus engine for the Chain prototype due to the following additional reasons:

Backed by formal research (opens new window);

Robustly tested implementation (opens new window);

Track record of adoption: Tendermint has been in continuous development since 2014, and has been adopted by several high-profile projects (opens new window); and

Modular architecture: It offers flexibility on which and how applications are developed on top of it.

Cronos utilizes Ethermint (opens new window)and the Tendermint (opens new window)Core consensus engine underneath. Specifically, the Cosmos SDK is a framework that facilitates the development of secure state-machines on top of Tendermint. In particular, we utilize different SDK modules to facilitate the special features of Cronos.

In this documentation, we will be focusing on some of the important modules we used, for example:

Bank — Token transfer functionalities and query support for the total supply of all assets;

Distribution — Fee distribution, and staking rewards to the validators and delegator;

Governance — On-chain proposals and voting;

Mint — Creation of new units of staking token;

Slashing — Validator punishment mechanisms;

Staking — Proof-of-Stake layer for public blockchains

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Why are institutions rapidly changing their minds about blockchain?

Bitcoin is a relatively young and unknown asset; therefore, the market has not yet been able to correctly assess its risk/return ratio. In other words: sellers and buyers have been overestimating the risk that Bitcoin and the overall blockchain world carries with itself.

There are many perceived threats that have led to this miscalculation, not to mention the steep learning curve it takes to understand the technology. Financially, this overestimation of issues has resulted in an underestimation of value, creating an inaccurate market equilibrium that still permeates the space.

Another important factor to consider is the increased accessibility and flashing news that caught the attention of many inexperienced “investors” with the promise of incredible returns. However, unlike these inexperienced “investors” (who are easily swayed by flashy news seducing with too-good-to-be-true returns), Banks, VCs and other financial institutions do not make quick, unresearched or risky decisions. When big banks will enter the crypto space, the first filters for projects will undoubtedly be the project’s technological validity and law compliance itself. This will inevitably result in the disappearance of all projects that do not meet these conditions, clearing the noise and paving the way for the best technology to reign supreme.

The Kadena infrastructure

Kadena was created in anticipation of the next crypto market cycle, during which the focus of traders will shift from social media noise towards technological advantages and compliance with the regulatory requirements. Kadena is a PoW blockchain as Bitcoin and Ethereum but differs from these blockchains in that it has infinite scaling capabilities, rendering Layer 2 solutions unnecessary. The Kadena blockchain is a true technical innovation in the crypto space, founded by former JP Morgan Blockchain Center for Excellence leaders Stuart Popejoy and Will Martino.

Kaddex — scalable, secure and gas free

Kaddex aims at being one of the first DEX built on Kadena. Due to the unique characteristics of the Kadena blockchain, users can exchange assets without a transaction cost (a virtually gas-free swapping system) while still relying on the first layer of a truly secure Proof of Work system. Kaddex shares the same vision as Kadena, centering its value on its advanced technology and law compliance. While other DEXes act in every day’s market promising astonishing incentives and returns, few deliver on these promises and do little to innovate the space, ultimately impacting their own durability.

The vision:

The next generation of blockchain will see the rise of projects that can solve the trilemma faced by Bitcoin and Ethereum: namely interoperability, transaction speed and scalability — without making any sacrifice on security, which can only be guaranteed by a proof of work architecture and layer one solutions. As the world begins to understand the value in Kadena’s technology, Kadena and Kaddex will set the scene for innovation we can currently only imagine.

We’re ringing in the new year with some exciting new developments here at Pegasus. Over the past few months, we’ve been closely following DeFi’s second renaissance with new innovations like OHM bonding and clever adaptations of traditional financial products like options and structured vaults. We’re keen on continuing that momentum into 2022 and have been heads down building and iterating on a new type of market.

Today, we’re excited to give you a glimpse at what’s coming. Firstly, we’re introducing a new type of market to Defi, an AMM-style interest rate perpetual. At a high level, this market will allow traders to take long and short positions on borrow/supply APY for on-chain lending platforms like Aave and Compound. Markets will consist of a synthetic token that tracks the actual rates for each lending pool. This will allow retail traders to take leveraged, capital-efficient interest rate positions without needing enormous amounts of notional, as is common in traditional interest rate swaps. We felt this was a necessary next step in the interest rate space because, unlike spot markets, interest rates are traditionally only profitable with large amounts of capital, thus only an instrument for whales and financial institutions. Defi is all about unlocking markets and assets retail traders could never access in the traditional financial world, so, we’re excited to be building this market with a focus on retail traders to continue pushing forward that ethos. Look out for a future post as we move closer towards launch with a deeper dive into the market.

In the meantime, to help us gear up towards our new interest rate product, we’re also excited to be launching a bootstrap mechanism focused on effectively rewarding individual contributions and coordinating our community to create shared value for Pegasus. Our motivation for this comes from seeing how vibrant protocol communities can be and at the same time how protocols often struggle with effectively capturing and redistributing that value to their members. So, we’re building a system that combines token-backed upgradeable NFTs, Olympus-style staking, and auctions to create the ultimate bootstrapping mechanism.

Look out for more updates and details in the coming days.