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Cryptocurrencies changed the financial world, but stablecoins took things a step further. By offering a stable value tied to fiat currencies, they added a new dimension to the digital asset ecosystem. What started as experimental projects has now grown into a vital part of the financial system, handling hundreds of billions of dollars in less than a decade.

Illustrating this point, the two biggest stablecoins hold market caps of $124 billion and $42 billion each. Let’s explore how they got there. 

The first wave (2014)

The stablecoin story began in July 2014 with BitUSD, launched on the BitShares blockchain by future industry leaders Dan Larimer and Charles Hoskinson. As the first crypto-collateralised stablecoin, BitUSD attempted to maintain dollar parity through cryptocurrency backing. 

However, its reliance on BitShares as collateral proved problematic, as the volatile nature of its backing asset eventually led to its unpegging from the dollar in 2018.

That same year saw the launch of NuBits, which attempted to improve BitUSD's model by using Bitcoin as collateral. Despite using the more established Bitcoin network, NuBits faced similar challenges. The volatility of its Bitcoin reserves, combined with insufficient capitalisation and lack of diversification, ultimately led to its failure, with the token now trading at a fraction of its intended value.

While these coins are not around today, they built the foundations for the stablecoins that followed.

The rise of fiat-backed solutions

Tether (USDT), launched a few months later in 2014, took a fundamentally different approach that would prove transformative for the industry. Instead of using cryptocurrency as collateral, Tether introduced a simple but effective model: backing each digital token with an equivalent amount of real US dollars held in reserve. 

This straightforward approach has led to remarkable success, with Tether's market capitalisation growing to over $124 billion and becoming the dominant stablecoin in crypto markets.

Innovation in collateralisation

In 2017, MakerDAO introduced Dai, bringing sophisticated innovation to the crypto-collateralised model. As a decentralised stablecoin on the Ethereum blockchain, soft-pegged to the US dollar, it represents a key evolution in stablecoin design, moving from fiat-backed models to multi-asset collateralisation. 

Dai’s stability is maintained through a hybrid algorithm and a dynamic supply control mechanism called Collateralized Debt Positions (CDPs). This multi-collateral approach, combined with diversified reserves including USD Coin (42%), Wrapped Bitcoin, and fiat-backed assets, ensures Dai’s reliability, making it one of the most stable stablecoins, managing to maintain its dollar peg even during significant market volatility.

Experimenting with algorithms

The most recent chapter in stablecoin evolution came with TerraUSD (UST) and its dramatic collapse in May 2022. Despite backing from substantial Bitcoin reserves (over 70,000 BTC) and sophisticated price stabilisation algorithms, UST demonstrated the limitations of algorithmic stability mechanisms. Its failure reinforced the fundamental principle that stable assets require stable backing.

Key lessons and industry impact

The development of stablecoins has yielded several crucial insights for digital currency innovation:

1. The importance of stable collateral for maintaining price stability
2. The value of diversification in reserve assets
3. The superiority of simple, transparent backing mechanisms over complex algorithmic solutions
4. The critical role of sufficient capitalisation in maintaining stability

Today, stablecoins process billions in daily transactions and serve as crucial infrastructure for cryptocurrency markets. And this success has attracted attention from traditional financial institutions and regulators, potentially influencing the development of Central Bank Digital Currencies (CBDCs).

The rapid evolution of stablecoins from experimental projects to essential financial tools demonstrates the potential for innovation in digital finance. As the technology matures, stablecoins are increasingly positioned to play a central role in the future of global financial services, bridging traditional finance with the emerging digital economy.

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Look, we get it. Banking isn't exactly the most thrilling topic out there – but it's one of those adult things we all need to figure out. Whether you're finally setting up your first proper account or just tired of your current bank's prehistoric app, we're here to break down everything you need to know about managing your finances in the digital era.

Getting started 

There was a time when opening a bank account meant sitting in a stuffy branch office while someone in a suit explained terms and conditions for what felt like hours. Thankfully, those days are over. Here's what you actually need to know:

What you'll need to open a bank account

Let's keep this simple. To open a bank account, you'll need:

• A valid ID (passport, driver's license, ID card)
• Proof of address (utility bill, lease, etc.)
• Your phone + internet access
• A few minutes of your time 

No need to print anything, mail anything, or – heaven forbid – fax anything. Welcome to 2025, folks.

Banking basics explained

Types of accounts

Think of bank accounts like streaming services – different ones for different needs:

• Everyday accounts

Your go-to for daily life. Bills, coffee runs, online purchases.

• Savings accounts

Where your "adulting" money lives. 

• Joint bank account

If you’re looking to take a very big next step with your partner. Serious adults only. 

Let’s talk bank cards

Remember when cash was king? Now your phone probably has more payment methods than your wallet has actual cards. Here's what's what:

• Physical debit cards: The classic. Tap, chip, or swipe away.
• Virtual card: For all your online shopping needs.
• Digital wallet: Because sometimes carrying an actual wallet is just too much.

What is a bank account number?

A bank account number is basically the ID tag for your money. It’s a unique string of digits that tells your bank (and anyone sending you cash) exactly where your account lives (like your account’s home address in the financial world).

You’ll usually need it for things like receiving payments, setting up direct debits, or pretending to be super organised when you pay your bills on time. Just keep it safe – it’s not exactly the kind of number you want floating around the internet.

On that note - do not ever share your banking passwords, logins, card PINS or OTPs with anyone. Ever. 

The cool stuff you actually care about

While opening a traditional bank account isn't exactly rocket science, why not take the easier road?  Enter Tap – your modern money account that takes the complexity out of managing your finances. While traditional banks have their place, Tap offers something different: a seamless digital experience that fits right into your lifestyle (and pocket - it’s an app).

With Tap, you get all the essential features you'd expect for managing your money, but without the traditional banking hassles. And the bonus of crypto. Open your Tap account in minutes, right from your phone – no paperwork, no branch visits, and no complicated processes. 

Just straightforward money management for the digital age.

Instant money moves (for free between Tap users)

Gone are the days of "the check is in the mail." With Tap, sending money is as easy as sending a meme:

• Split bills without the awkward "who owes what" conversation
• Pay back your friend for lunch before you've even left the restaurant
• Send money internationally without selling a kidney to cover the fees

Security

We take security seriously. Obviously. That’s what being regulated is all about:

• Face ID/fingerprint login 
• Instant card freeze 
• Real-time notifications 

For those into crypto (not mandatory)

We've got you covered too (or if you're crypto-curious but not quite sure what it all means, that's also cool). At Tap, we make integrating crypto into your finances easy as pie:

• Buy and sell top cryptocurrencies right in your app
• Get access to our integrated smart router that finds the top prices in real time
• Store your crypto safely alongside your regular money – all in one place
• Track your crypto portfolio without getting a headache from complicated charts
• Convert between crypto and traditional currencies whenever you want 
• Load crypto or fiat currencies onto your Tap card and spend them anywhere, anytime

And if crypto isn't your thing? No pressure. Your Tap account works perfectly fine without ever touching crypto. We're all about giving you options.

Why Tap though?

Look, there are plenty of financial institutions out there. But here's why we think you'll vibe with us:

• We speak human, not banker
• Our app doesn't look like it was designed in 1995
• No hidden fees (because surprises are for birthdays, not bank statements)
• 24/7 support from real people who actually want to help
• We’re licenced and regulated (more info available on our website)
• We also offer premium accounts with extra perks

Ready to level up your banking?

Banking doesn't have to be boring, and it definitely doesn't have to be difficult. Tap is for people who’d rather focus on living their lives than worry about managing their money. No branches, no bureaucracy, just managing your finances in a way that works as fast as you do.

Download our app, and in the time it takes to order your morning coffee, you can create an account and get verified. 

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We’re excited to share some great news with our UK community and GBP users! 

Starting today, Tap has reintroduced GBP bank transfer deposits for all users. This makes it simpler than ever to fund your account and and dive into the world of crypto.

What’s New?

✅ GBP Bank Transfers Are Back!
After a brief pause, UK users can once again deposit funds seamlessly via bank transfers. This highly requested feature is now live, giving you more flexibility to top up your Tap account instantly. 

✅ A Boost for A Large Part Of Our User Base
UK customers have always been a driving force behind Tap’s growth, accounting for a large part of the platform activity. With bank transfers reinstated, we anticipate even greater engagement, trading, and spending—helping to fuel momentum across the entire Tap ecosystem.

✅ Frictionless Crypto Access
Combine your GBP deposits with instant crypto conversions and spend globally using your Tap Mastercard. This is all part of our mission to seamlessly bridge traditional finance and blockchain innovation.

Why This Matters

In recent months, UK users were limited to card deposits. Now, with bank transfers back, we’re unlocking:

• Higher deposit limits for serious traders.
• Reduced fees compared to card transactions.
• Faster funding to take advantage of crypto market opportunities.

December 2023 proved Tap’s resilience—we hit a record £451k in monthly revenue even without full GBP transfer access. Now, with this critical feature restored, the possibilities are even greater! 

‍Words from Our CEO

‍Arsen Torosian, CEO of Tap, shared:
“Reinstating GBP bank transfers reignites a key growth engine for Tap. UK users are our most active community, and this upgrade empowers them to move faster in today’s surging crypto markets. December’s record revenue was just the beginning—we’re now poised to scale rapidly.” What’s Next?

• Update your Tap app to start using GBP bank transfers today.
• Share the news! Tag a friend who’s been waiting for this feature.
• Stay tuned for more upgrades as we roll out new tools to enhance your financial freedom.
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Join the Conversation! Follow us on X (Twitter) and LinkedIn for real-time updates.
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Onyxcoin (XCN), previously known as Chain (CHN), marks a major leap in blockchain infrastructure technology. Since its rebranding in March 2022, the protocol has gained traction as a leading enterprise blockchain platform. In a nutshell: it provides cloud-based solutions that enable companies to create and deploy financial services through private blockchain networks. Let’s explore this.

What is XCN?

XCN is the cryptocurrency powering the Onyx Protocol, offering both utility and governance, while the Onyx Protocol is designed to tackle key challenges in financial settlements. 

The Onyx Protocol is a versatile blockchain infrastructure designed to connect independent networks under shared standards, ensuring smooth interoperability. By separating asset control from ledger synchronisation, it delivers both security and flexibility to users.

Participants can issue assets using customisable "issuance programs," managed by "control programs" that enable the creation of advanced smart contracts. Network security is upheld by a federation of "block signers" to prevent forks, while a single "block generator" ensures efficient block creation.

Governance is managed through the Onyx DAO on Ethereum, with Onyxcoin (XCN) acting as the ecosystem's utility and governance token. XCN powers premium services, funds network upgrades, and enables token holders to influence the protocol’s direction.

Founded in 2014 with support from leading venture capital firms and partnerships with institutions like Nasdaq and Citigroup, the platform has evolved into an independent, reliable and advanced blockchain solution.

Key Features:

• Cloud-based blockchain infrastructure for enterprises
• Customisable tools for asset creation
• Smart contracts powered by control programs
• Integrated DAO governance for user participation
• Premium and standard service tiers

Technical and fundamental analysis

Market fundamentals

XCN’s tokenomics include a maximum supply of 48.47 billion tokens, with around 65% currently in circulation. Strategic allocations include 15 billion tokens for the foundation and 10 billion for the DAO, with monthly releases of 200,000,000 XCN per month, to maintain a controlled market supply.

Technical framework

The protocol’s architecture enables:

• Multiple independent blockchain networks operating simultaneously
• Secure asset control based on the principle of least authority
• Block validation by designated signers
• Efficient block creation via a single block generator

Trading volumes, price volatility, and sentiment indices for XCN

Trading volume

The current trading volumes of XCN provide key insights into market activity and investor interest. Steady or increasing volumes typically indicate sustained engagement, while sharp fluctuations could signify speculative trading or reaction to news events. For XCN, trading activity has shown variability, with spikes aligning with announcements or broader market trends.

Price volatility

Price volatility is another critical metric for understanding XCN's performance. While moderate volatility can attract traders seeking profit opportunities, excessive swings may deter risk-averse investors. Recently, XCN has experienced a mix of stability and rapid price shifts, largely influenced by macroeconomic factors and evolving sentiment within the cryptocurrency market.

Sentiment indices

Sentiment indices, derived from social media trends, news coverage, and community forums, offer a snapshot of market perception. Positive sentiment has often correlated with upgrades to the Onyx Protocol or advancements in the ecosystem, while negative sentiment has emerged during periods of uncertainty or market-wide downturns.

Together, these factors—trading volumes, price volatility, and sentiment—illustrate the complex dynamics shaping XCN’s market presence and potential for return on investment. For investors and traders, monitoring these indicators can provide valuable insights into potential opportunities and risks, though they should be evaluated alongside broader market conditions and fundamental analyses.

Short-term price predictions (1-3 years)

In the following sections, we’ll take a look at both short-term and long-term price predictions, considering both bullish and bearish market scenarios. For reference, at the time of writing XCN was trading at $0.01236 (see later price here).  

Bullish scenario

Analysis suggests that several positive catalysts could drive XCN's growth in the near term:

• - Enterprise adoption

• Predicted range: $0.005 - $0.01
• Key driver: Increased business partnerships and platform integration
• Potential catalyst: Growth in private blockchain network adoption

• - Technological development

• Predicted range: $0.006 - $0.012
• Focus areas: Transaction speed improvements and fee optimisation
• Impact: Enhanced platform capabilities could attract more users

• - Institutional investment

• Predicted range: $0.007 - $0.015
• Driver: Growing institutional interest in cryptocurrency
• Catalyst: Potential market expansion and improved regulatory clarity

Bearish scenario

On the flip side, here are the bearish predictions: 

• - Regulatory concerns

• Predicted range: $0.001 - $0.0015
• Risk factor: Increased government oversight
• Impact: Possible operational limitations

• - Competitive pressures

• Predicted range: $0.0012 - $0.0017
• Challenge: Market saturation from similar projects
• Risk: Potential loss of market share

Long-term price predictions (3-5 years)

Bullish outlook

Long-term positive scenarios suggest significant growth potential:

• - Enterprise integration

• Predicted range: $0.02 - $0.05
• Driver: Widespread adoption of Onyx Protocol's technology
• Catalyst: Integration into mainstream financial systems

• - Technology evolution

• Predicted range: $0.03 - $0.06
• Focus: Platform maturity and ecosystem development
• Impact: Enhanced competitive advantage through innovation

• - Market growth

• Predicted range: $0.04 - $0.08
• Driver: Overall cryptocurrency market expansion
• Catalyst: Increased mainstream acceptance and use

Bearish outlook

However, long-term challenges could present significant headwinds:

• Market sentiment

• Predicted range: $0.0005 - $0.001
• Risk factor: Extended crypto market downturn
• Impact: Reduced investor confidence 
• - Competition

• Predicted range: $0.0008 - $0.0015
• Challenge: Emergence of superior technological solutions
• Risk: Diminished market relevance

These predictions account for various market scenarios and factors, keeping in mind the natural volatility of crypto markets. The ranges provided highlight potential outcomes depending on market trends and the progress of the project. Please note that this content is speculative and not financial advice - it should not be construed as such.

Conclusion

Onyxcoin (XCN) presents a range of possible price trajectories, from potential growth through enterprise adoption and technological advancement to more conservative estimates reflecting market challenges. While bullish predictions suggest possible growth to $0.08 by 2030, bearish scenarios indicate potential downside risks. 

As with any investment in digital assets, thorough research is essential. Readers should carefully evaluate their risk tolerance and consult financial advisors before making investment decisions, as market conditions can change rapidly in the volatile crypto sector. Keep an eye on the XCN page within the Tap app to keep updated on price movements.

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The cryptocurrency market can be a maze of projects, platforms, and partnerships. Among these, XCN (Onyxcoin) has emerged as a notable digital asset that often sparks discussion – and sometimes confusion – in the crypto community.

This guide cuts through the complexity to deliver a clear picture of XCN. We'll examine what makes this cryptocurrency unique, tackle common misconceptions about its ownership (particularly regarding JP Morgan), and explore its potential value to the greater blockchain ecosystem.

Whether you're researching XCN for investment purposes or simply want to understand its role in the crypto ecosystem, this article will provide you with straightforward, accurate information to guide your decisions.

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What Is Onyx Protocol (XCN)?

Onyx Protocol is a cloud-based blockchain infrastructure enabling companies to create private blockchain networks for enhanced financial services. Unlike public blockchains, Onyx provides a closed, secure environment for issuing, storing, and transferring digital assets, minimising risks like security breaches and transaction delays. 

It caters to enterprise needs through products such as the Remote Procedure Call API (RPC/API) and Sequence, a blockchain-based accounting service. These services offer both standard and premium tiers, with premium features accessible via XCN payments.

The protocol’s core design addresses key financial settlement challenges, including reducing fees, increasing transparency, and streamlining transaction settlements, and uses innovative features like "issuance programs" for asset creation and "control programs" for managing assets securely. Block signers safeguard the network, while block generators ensure efficient block creation.

The Onyx Protocol is governed by a Decentralised Autonomous Organisation (DAO), where XCN token holders participate in decision-making by staking their tokens. This means that XCN acts as both a utility and governance token, offering voting rights, discounts on premium services, and a means to pay for Onyx Cloud and Sequence fees.

Founded in 2014 by venture capitalist Adam Ludwin, Onyx was initially backed by major firms like Nasdaq and Citigroup, raising over $40 million. After being acquired by Stellar’s Lightyear Corp. in 2018, it later became a privately held corporation in 2021. 

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With a maximum supply of 48.4 billion tokens, XCN powers the ecosystem and incentivises community-driven growth through its transparent, decentralised governance model.

XCN’s infrastructure

XCN's technological foundation rests on three main pillars:

• A scalable proof-of-stake blockchain that prioritises transaction speed and energy efficiency
• Smart contract functionality that enables complex financial operations and decentralised applications
• Cross-chain compatibility for seamless interaction with other blockchain networks

Although the platform uses advanced security protocols it still manages to maintain user accessibility, making it suitable for both individual and institutional users.

How to purchase and stake XCN

XCN tokens can be bought through several major cryptocurrency exchanges, including Tap. In order to participate in the staking process, users will need to acquire the tokens and complete the following: 

1. Set up a compatible wallet that supports XCN staking
2. Participate in the staking program through the official platform
3. Earn rewards based on the amount staked and duration of participation

The minimum staking requirements and reward rates are designed to encourage long-term holder participation. For more detailed explanations please see the official project’s instructions.

Leadership and development behind XCN

The Onyx blockchain network was founded in 2014 by venture capitalist Adam Ludwin with support from major venture capital firms, aiming to modernise financial systems. The team launched Chain Core after raising over $40 million through strategic partnerships with Nasdaq, Orange, Capital One, and Citigroup. 

In 2018, the platform was sold to Lightyear Corp., part of the Stellar Development Foundation, before transitioning in 2021 to operate as a privately held corporation with a new board, shareholders, and offices. In March 2022, CHN was rebranded to XCN spurring positive price growth.

Today, the XCN project is led by a team of seasoned blockchain developers and fintech experts specialising in smart contracts, protocol optimisation, and financial infrastructure. They are known to actively engage with the community via Discord, Twitter, and governance forums, maintaining transparency through roadmaps, progress reports, and AMAs. 

Alongside the strong development team is a decentralised governance model, allowing XCN token holders to shape the platform’s future, voting on critical proposals to ensure collective growth and innovation.

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XCN price prediction

Onyxcoin (XCN) has gained attention for its role in DeFi and its governance function within the Onyx Protocol. While price predictions vary, with some analysts anticipating steady growth as adoption of the platform increases, it is worth keeping an eye on the key factors influencing its price, notably market demand, advancements within the Onyx ecosystem, broader crypto market trends, and regulatory developments. 

However, given the volatility of the cryptocurrency market, it’s best to approach these XCN price predictions carefully and conduct thorough research before making any financial decisions.

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Clearing the air: JP Morgan's Kinexys (formerly Onyx) does not own OnyxCoin (XCN)

In early November 2024, JP Morgan rebranded its blockchain unit from Onyx to Kinexys, sparking conversations about distinguishing between unrelated entities in the blockchain world. Below we break down the key differences between OnyxCoin (XCN) and JP Morgan's Kinexys to clear up any confusion for investors and industry professionals.

Let the record state: OnyxCoin (XCN) is a separate cryptocurrency project operating independently of JP Morgan and its blockchain initiatives. To avoid potential confusion:

• XCN is not affiliated with JP Morgan or any traditional banking institution
• The cryptocurrency project operates independently of JP Morgan's blockchain platforms
• Any similarity in naming to JP Morgan's former Onyx unit is coincidental

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Looking to the future

XCN is a prime example of blockchain technology's evolution and the growing maturity of digital assets. As the cryptocurrency landscape continues to expand, XCN’s innovative framework and governance structure show how decentralised systems can adapt to meet new challenges. 

With blockchain advancing rapidly, platforms like XCN highlight the potential for transformation in the digital economy. Whether you’re drawn to the technical details or the broader implications, staying informed about these developments is key to understanding this ever-changing space.

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We’ve all been here: you land that dream job or get a nice raise, and suddenly your old budget feels unnecessarily restrictive. A few premium subscriptions here, some fancy dinners there, maybe a nicer apartment – before you know it, your higher income somehow feels tighter than before. 

Welcome to lifestyle creep, the subtle way our spending habits expand to match (or exceed) our growing income. It’s real, and it’s out there. Here’s how you can fight back. 

Why it happens

Lifestyle creep isn't just about splurging. Often, it's a series of small, seemingly reasonable upgrades. That €15 lunch delivery doesn't feel extravagant when you're having a hard day, and those €20 fitness classes are justified as a worthwhile investment in your health. 

The problem isn't any single expense, it's how these small changes compound over time, transforming from luxuries into what feel like necessities. And those small expenses can add up dramatically: an extra €50 per week on conveniences means €2,600 per year that could have gone toward retirement, a dream vacation, or your emergency fund. That’s a chunk of change in the end. 

Breaking the cycle

1. Find your motivation

Before making changes, identify why you want to control your spending. Maybe you want to switch careers, start a business, or build an emergency fund. Having a concrete “why” makes it easier to resist those immediate gratifications.

2. Audit your joy

Review your recent expenses and honestly assess which ones truly enhance your life. That streaming service you barely use? The subscription box that sits unopened? These are easy cuts. But don't stop at the obvious – examine everything, including your "necessary" expenses. Sometimes what we think we need is just habit in disguise.

Start doing this weekly, eventually moving up to monthly, until your inner accountant is completely satisfied with where your money is going. The idea here isn’t to strip all joy from your life, it’s merely to streamline it. 

3. Create friction

Make impulse spending harder:

• Remove saved payment information from shopping sites and phone settings
• Unsubscribe from marketing emails
• Establish a 48-hour waiting period for non-essential purchases

4. Address your triggers

Our spending habits are heavily influenced by our environment. Consider:

• Unfollowing social media accounts that trigger spending urges
• Finding free or low-cost alternatives to expensive social activities
• Being honest with friends about your financial situation and goals
• Planning social activities that don't revolve around spending

5. Regular check-ins

Schedule monthly "money dates" with yourself. Review your spending, celebrate wins, and adjust your strategy. Make it enjoyable – pour yourself a drink and put on your favourite record. This isn't about punishment, it's about alignment with your goals.

The mindset shift

Remember that reducing expenses isn't about deprivation, it's about choice and control. You might find that some lifestyle upgrades are worth keeping because they genuinely improve your quality of life. Others might be easy to let go once you realise they're not adding that much value.

The goal isn't to return to living like a college student. Instead, aim to be intentional about which upgrades you keep and which you can live without. This mindful approach to spending helps steer your money toward things that truly matter to you, rather than disappearing into a series of forgettable purchases.

By taking control of lifestyle creep, you're not just saving money – you're buying yourself options, flexibility, and peace of mind. And those are luxuries worth keeping.

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