Technology

Cryptocurrency is now used for weather forecasting – BeinCrypto

Cryptocurrency, with its newfound popularity, is used in many everyday projects. From now on, it will even be used to predict the weather.

Industry at the service of more accurate meteorology

Cryptocurrency seems to be more and more present in the daily life of the population. With Argentina just allowing the payment of taxes in cryptocurrencies and France starting to accept them for purchases, the industry is beginning to take on a prominent position. However, it is also used for more community projects.

WeatherXM is one of them. The project created by Ex Machina does propose to use cryptocurrency to provide the public with more accurate weather forecasts. The community gathered around this initiative will indeed be rewarded with tokens thanks to weather stations. Owned by contributors, they will send their data back to the project before it is compiled into the application. At the same time, the weather stations will take over the space dedicated to the WXM project. Harvests will then be redistributed among community members, and the price of the token will be maintained by the burn system.

WeatherXM Twitter account.

Meanwhile, the weather is not favorable for the cryptocurrency.

While WeatherXM relies on weather forecasts, the latter is far from being lenient in the industry. While the price of Bitcoin remains uncertain, Ethereum is starting to take over the first cryptocurrency. Thanks to the upcoming merger, Vitalik Buterin’s project stands out from the rest in that his courses are definitely in the black.

However, according to Valentin Niko, an expert at Bourse Direct, the success of Ethereum is not synonymous with success in cryptocurrency. In his speech for BFM Crypto, he mentioned the status quo regarding the prices of digital currencies.

As soon as the cryptocurrency begins to rise, it quickly returns to support levels. We are in an uncertain climate where there is not really a trend. […] We are waiting for catalysts that will be able to raise prices, but, unfortunately, we do not yet know where they will come from. It could be inflation, ECB rate hikes, but for now we are still waiting for their consequences.

Excerpt from comments by Valentin Niko on BFM Crypto.

BFM Crypto Twitter account.

Therefore, due to the economic crisis, energy issues and indecisive regulations, the cryptocurrency market may have to wait before seeing the first settlements. Time will tell if Ethereum has managed to maintain its current course nonetheless.

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