Akash Takyar

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Balancing cost-cutting efforts with smart efficiency strategies can help crypto companies weather current macroeconomic conditions. Crypto winter has been challenging enough for the industry; it doesn’t help that the broader macroeconomic environment is uncertain as well. With ongoing talk of a potential recession, tightening access to investor capital and rising interest rates, some crypto and blockchain companies are joining their peers in other industries in exploring cost-cutting measures. While trimming the budget may be a necessary effort, it’s important to do so judiciously. Further, leveraging smart strategies can help companies avoid deep cuts and boost productivity and efficiency. Here, 15 members of Cointelegraph Innovation Circle share tips to help companies in the crypto and blockchain space wisely adjust to survive the current macroeconomic environment.

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There are multiple strategies to help crypto ecosystems create a welcoming environment for developers.  The ecosystem concept is unique to (and uniquely suited to) the crypto industry. These synergistic communities offer a network where participants can benefit from each other’s work and progress while building an ever-stronger foundation. A recent study found there were more than 18,000 active Web3 developers and pinpointed the ecosystems having the most success attracting new developers. So what do ecosystem projects need to do to achieve similar success to these top performers? According to the industry experts of Cointelegraph Innovation Circle, it’s essential to be cognizant of what developers are really looking for in an ecosystem. Below, 12 of them share strategies ecosystem projects can leverage to attract more developers.

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To fully realize the potential of blockchain technology, it’s important to understand possible limitations — and how to address them. Blockchain technology’s potential is one of the most exciting facets of the crypto industry for both insiders and the crypto-curious. A shared, immutable, verifiable method to store and track data has clear possibilities outside cryptocurrency for industries ranging from stock trading to healthcare. As with any technology, though, there are potential stumbling blocks. Blockchain scalability is an important concept for consideration for both existing and new blockchains, which must be able to manage and process ever-increasing amounts of data.  While experts in crypto agree that it’s important to grasp the fundamentals of blockchain scalability, many assert that it’s not an insurmountable obstacle to crypto’s growth. Below, members of Cointelegraph Innovation Circle share details about blockchain scalability that they think are important for less-experienced players to understand, and why.

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There’s more than financial profit in using NFTs to build a brand. Companies paying close attention to high-profile nonfungible token projects by celebrities, sports teams and companies may have been impressed by the initiatives, but unclear on how NFTs can generate more than just a little extra revenue. While many leaders in the space don’t discount the direct impact to profit a successful NFT launch can have, they’re much more excited by how NFTs can build up a brand’s identity, community and customer loyalty. So how, specifically, can brands leverage NFTs to better engage customers? There are many ways, several of them detailed below by members of Cointelegraph Innovation Circle.

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When seeking new connections in crypto, it’s wise to watch for enthusiasm and energy as well as experience. Crypto is a fresh and exciting industry, but its relative newness can make it a challenge to build an extended network. Finding people with significant (or any) experience in crypto isn’t the only important criterion. To grow the space and see it reach its full potential, crypto pioneers need a holistic vision of the industry’s possibilities.Many of the qualities that make for a great potential connection in any industry apply in crypto, too, but it’s when those qualities come with a genuine passion for the space that real progress can happen. Below, 12 members of Cointelegraph Innovation Circle share the qualities they’re searching for when expanding their crypto network.

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Crypto comes with many unknowns, and it’s essential to find ways to help those new to the space.Launching a new business in any industry is a challenge, but in a new space like crypto, the unknowns can be particularly daunting. There has been a lot of digital ink spilled about the industry in recent months, but with much of it geared toward insiders, newcomers may be feeling lost.Top that with the scramble for talent that’s happening across industries, and jumping into crypto may seem impossible for someone who has enthusiasm, but lacks the tech expertise. Pinning down what’s keeping newcomers out, and working together on solutions, is a vital role for those already winning in the industry. Below, 11 members of Cointelegraph Innovation Circle share the barriers they’ve observed and potential solutions.