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Cryptocurrency is headed toward surviving its first age By Cointelegraph

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The past year was a challenge across the globe. Financial markets plunged deep into the red, affecting millions, if not billions, of people worldwide. Inflation rose. For crypto, it has arguably been the worst year since Bitcoin’s (BTC) inception. It has been more of an ice age than a crypto winter​, and bad actors and weak project​s have dominated headlines —​ including FTX, Voyager, Celsius, , ​​Hodlnaut​, and this week, Nexo​.

​In 2023, the purge could continue with projects that — like Tezos, Lisk and — do not develop any new technology, nor do they innovate. It’s been said frequently that 90% of crypto projects will ultimately fade away or disappear because, among other failures, they solve nothing.

Number of users with balances of 1 BTC or more from Oct. 21 through Nov. 22. Source: Glassnode
Raullen Chai is the co-founder and CEO of IoTeX. He previously worked for companies including Google (NASDAQ:), Uber (NYSE:) and Oracle (NYSE:). He holds a Ph.D. from the University of Waterloo, where his research focused on designing and analyzing lightweight ciphers and IoT authentication protocols. At Google, he led many important security initiatives for its technical infrastructure, including mitigation of SSL attacks, privacy-preserving SSL offloading and enabling certificate transparency for all Google services. He was also the founding engineer of Google Cloud Load Balancer, which now serves thousands of cloud services, with over 1 million queries per second.

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