2022 has left its mark on the people in the cryptocurrency industry. The year was tainted with the falling prices of assets and the collapse of several firms. The tech industry was not spared the carnage of global inflation, as many had to lay off thousands of workers. However, individuals outside the cryptocurrency industry were gripped by a curiosity about what all the fuss was about. And the one place we take our questions to is Google.
In that regard, let’s look at the top questions that the search engine giant was tasked with.
Top crypto questions on Google
Why is Bitcoin valuable?
Many individuals are interested in the cost of Bitcoin (BTC) and what makes it so valuable. When Bitcoin’s price reached an all-time high of $68,789 in November 2021, it gained widespread notice among mainstream audiences. Bitcoin brought blockchain technology to the masses, a tech that underpins most cryptocurrencies in one way or another.
BTC has had a lot more time to develop its worth and popularity because it was the first of its kind. Many people and companies used it as the forerunner of decentralized international payments. Due to its low 21,000,000 quantity and high demand, it has a higher value than others.
Why is Ethereum merging?
Ethereum’s (ETH) transition to a proof-of-stake (PoS) system was one of the highlights of crypto 2022. The move was in theoretical stages for many years before becoming a reality. The “merge” basically means the merging of Ethereum and Beacon Chain. The Ethereum merging aims to reduce the energy needed to mine and transact the coin. The move resulted in a 99.9% reduction in energy needs.
Why is crypto crashing?
The crypto crash of 2022 was one of the worst ever. The news slid into the attention of people who were not even interested in the space. However, the crash peaked the curiosity of many. The reason for the 2022 crash began with increasing interest rates in late 2021. Then followed the Russian invasion of Ukraine, which caused global markets to plummet. With increased inflation and supply chains taking a hit, investors began pulling out their investments. Then came the collapse of the UST stablecoin by Terra. The fall took the firm down with it. The cascading effect impacted many firms, ultimately collapsing the market.
How to create a cryptocurrency?
With so many new cryptocurrency tokens hitting the market every day, it is no surprise that this question is one of the most googled questions of 2022. The three popular ways to produce cryptocurrency are to build your own blockchain, alter an existing one, or add a new cryptocurrency to an existing blockchain. However, the process sounds a lot easier than done. It will take extensive programming knowledge and also the inner workings of finance. However, one can always hire someone to undertake the difficult parts.