In 2022, the crypto and blockchain industry continued to grow and evolve at a rapid pace. And, despite any challenges, many exciting developments did take place. In this article, let’s review the key events and trends that shaped the industry and Tozex.io last year.
2022 Crypto Year In Review
One of the major developments was the increasing mainstream adoption of cryptocurrencies, particularly Bitcoin and Ethereum.
Following an eight-year wait, at 14:43 on September 15, when the mainnet and beacon chains successfully merged, Ethereum signaled the end of Ethereum Proof of Work (PoW) and the full switch to Proof of Stake (PoS).
Another major trend in 2022 was the rise of decentralized finance (DeFi) platforms and protocols. These decentralized systems allow for the creation of financial products and services, such as lending and borrowing, without the need for traditional intermediaries like banks. The value locked on Ethereum reached an all-time high of $167 billion in 2022.
The adoption of blockchain technology also continued to expand beyond the financial industry. Governments and organizations in various industries, such as healthcare and supply chain management, began to explore and implement blockchain solutions for a variety of use cases.
However, 2022 also saw some challenges for the crypto and blockchain industry. The highly volatile nature of crypto prices and the growing number of scams and frauds in the space continued to be a concern for regulators and investors alike.
The failure of the cryptocurrency exchange FTX in November resulted in the lending arm of Genesis being compelled to halt redemptions. Since then, Genesis has been striving to raise money or negotiate a deal with creditors.
Additionally, some experts warned of a potential bubble in the crypto market, as the prices of some cryptocurrencies reached all-time highs.
Despite these challenges, the crypto and blockchain industry remained an exciting and rapidly-evolving space in 2022. With more mainstream adoption and a growing number of real-world use cases, it’s clear that this technology has the potential to revolutionize many aspects of our lives in the years to come.
What TOZEX Achieved in 2022
2022 was a big year for Tozex! We formed a partnership with Hummingbot, which allowed us to improve Tozex clients’ liquidity capabilities and provide better liquidity for our users. We also deployed our platform on new blockchain systems like Binance Smart Chain and Polygon , which allowed for faster and more secure transactions.
One of the most exciting developments of the year was the launch of our bridging feature, which enables users to easily transfer assets between different blockchains. This was made possible by our implementation of multisignature technology, which enhances the security of our platform.
Tozex was also proud to take part in major events such as the Paris Blockchain Summit and Metadays. We used these opportunities to showcase our latest projects, such as the Safe Box and Cloverland. These developments further solidify our commitment to support the use cases of the blockchain industry.
What About 2023?
As we head into the new year, we are excited to continue pushing the boundaries of what is possible in the blockchain space and to bring even more innovative and user-friendly products to market. We look forward to continuing to work with our partners and community to build a better future for the industry. We made huge technical, and user experience improvements for our upcoming Tozex final version proposing our services.
Stay informed and be the first to know by following us on social media. You won’t want to miss out on what we have prepared for you.