Articles by Abhinav R Soomaney's Profile | Medium, GlobeNewswire, Live Bitcoin News Journalist

AAVE: A Comprehensive Guide to DeFi Lending, Borrowing, and Beyond

Jun 11, 2025 |

| Medium

Introduction In the fast-evolving world of cryptocurrency, AAVE has emerged as one of the most trusted platforms in decentralized finance (DeFi). It allows users to earn passive income by lending digital assets or to borrow funds without relying on traditional banks — all through the power of smart contracts. This guide explains AAVE's core features, functionality, and innovations, whether you’re new to it or simply curious about how it works.

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Token Curated Registries (TCRs) and Decentralized Curation: Community-Powered Quality Control on the Blockchain

Jun 06, 2025 |

By Abhinav R Soomaney

| Medium

As decentralized technologies continue to reshape the digital landscape, ensuring the quality and reliability of content, data, and services without relying on centralized authorities has become both a challenge and a necessity. Token Curated Registries (TCRs) offer a crypto-native solution to this problem.

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Crypto in the Fashion Industry: Digital Wearables and NFTs

Jun 03, 2025 |

By Abhinav R Soomaney

| Medium

Introduction: A Digital Renaissance in Fashion The fashion industry, renowned for setting trends and influencing culture, is undergoing a transformative shift through blockchain technology. With cryptocurrency at its foundation, digital wearables and non-fungible tokens (NFTs) enable brands to explore virtual fashion, verify product authenticity, monetize creativity, and build stronger communities. What Are Digital Wearables?

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Restaking Revolution: How EigenLayer Is Redefining Security in Web3

May 30, 2025 |

By Abhinav R Soomaney

| Medium

Introduction As Web3 continues to evolve rapidly, one of its most critical challenges remains: securing decentralized networks in a scalable, efficient, and cost-effective way. Ethereum has become the dominant Layer 1 (L1) platform for decentralized applications, but its security remains largely isolated unavailable to emerging protocols that could benefit from similar levels of protection. EigenLayer introduces a breakthrough concept: restaking.

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The Intersection of AI and Blockchain: Opportunities and Challenges

May 27, 2025 |

By Abhinav R Soomaney

| Medium

Introduction Artificial Intelligence (AI) and blockchain are among the most transformative technologies of the modern era. AI focuses on replicating human intelligence to automate tasks and enhance decision-making, while blockchain provides a decentralized, transparent, and secure system for recording data. Their convergence has the potential to revolutionize various sectors, especially cryptocurrency. Together, AI and blockchain offer powerful synergies, but they also introduce unique challenges.

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The Potential of Cryptocurrency for Supply Chain Management

Nov 18, 2024 |

By Abhinav R Soomaney

| Medium

Abhinav Soomaney · Follow 4 min read · -- The combination of cryptocurrency and blockchain technology brings significant opportunities for improving modern supply chains. Traditional supply chains often struggle with problems like limited transparency, slow payment processes, and exposure to fraud. Cryptocurrency and blockchain address these challenges by offering decentralized, secure, and transparent systems, enabling smooth transactions and efficient data sharing across all stakeholders.

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The Ethical Maze of Cryptocurrency: Balancing Anonymity and Responsibility

Oct 28, 2024 |

By Abhinav R Soomaney

| Medium

Abhinav Soomaney · Follow 5 min read · -- The rise of cryptocurrency has ushered in a new era in finance, spurring both innovation and ethical dilemmas. Cryptocurrencies promise decentralization, privacy, and financial freedom; however, these attractive features often result in significant ethical consequences.

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The Science Behind Blockchain Technology: Exploring Technical Aspects, Algorithms, and Applications Beyond Cryptocurrency

Oct 22, 2024 |

By Abhinav R Soomaney

| Medium

Abhinav Soomaney · Follow 4 min read · -- Blockchain technology has emerged as a transformative force across various industries, from finance to supply chain management, promising increased transparency, security, and efficiency. While the buzz around blockchain is often tied to cryptocurrencies like Bitcoin and Ethereum, the underlying technology has far-reaching implications that extend well beyond digital currencies.

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Understanding Blockchain Data Storage, Costs, Methods and Sustainability

Oct 15, 2024 |

By Abhinav R Soomaney

| Medium

Abhinav Soomaney · Follow 4 min read · -- Blockchain technology is often praised for its decentralized, secure, and transparent nature. However, when it comes to data storage, many people wonder how blockchain networks can offer what seems to be ‘free’ data storage. So, where does all this information go, and how is it sustainable? To answer these questions, we must dive into the fundamentals of blockchain storage, cost structures, and decentralized data storage systems.

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Likes, Shares, and Blockchain: The Social Media Impact on Crypto Adoption

Oct 07, 2024 |

By Abhinav R Soomaney

| Medium

Abhinav Soomaney · Follow 5 min read · -- Social media has become a powerful tool for spreading information, shaping opinions, and driving trends in various industries, including cryptocurrency. The decentralized and borderless nature of cryptocurrencies like Bitcoin, Ethereum, and numerous altcoins make them particularly conducive to being promoted and discussed through social media platforms.

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The Quest for Scalability in Ethereum and Beyond

Oct 01, 2024 |

By Abhinav R Soomaney

| Medium

Abhinav Soomaney · Follow 6 min read · -- Scalability has proven to be the most pressing problem blockchain networks have faced since the introduction of Bitcoin. While blockchain technology offers unmatched security and decentralization, its handling of a significant number of transactions is clearly inefficient.

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AI Meets Crypto: Driving the Next Financial Revolution

Sep 23, 2024 |

By Abhinav R Soomaney

| Medium

As we step into 2024, The finance sector is undergoing a technological revolution driven by two major forces: artificial intelligence (AI) and cryptocurrency. Each of these technologies is transforming industries individually, but their convergence has the potential to significantly reshape the financial landscape. In June 2023, BlackRock’s head of strategic partnerships, Joseph Chalom, noted that DeFi’s institutional adoption is “many, many, many years away”.

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A Beginner’s Guide to Collecting Casascius Bitcoin

Aug 23, 2024 |

By Abhinav R Soomaney

| Medium

Obtaining cryptocurrency from a physical bitcoin is an intriguing and meticulous process. These coins are not just collectibles; they contain real digital currency securely stored within them. This guide will take you through the crucial steps of revealing the private key and transferring your funds, ensuring you can access your crypto safely and effectively. A paper wallet is a physical document that contains the public and private keys of a cryptocurrency wallet.

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The Role of Interoperability in Blockchain Adoption

Aug 20, 2024 |

By Abhinav R Soomaney

| Medium

The blockchain landscape is a diverse and multifaceted space, with various networks offering a spectrum of strengths and weaknesses, differing protocols, and user bases. While this diversity is essential and drives innovation, it also has a downside. The more specialized a project is, the more difficult it is to scale, and the more challenging it becomes to coordinate and communicate between projects.

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The Rise of Tokenization in Real-World Asset Management

Jul 11, 2024 |

By Abhinav R Soomaney

| Medium

Imagine owning a share of a stunning beachfront property, a share of a rare vintage car, or even a fraction of an iconic painting all from the comfort of your own home. Real asset tokenization does just that. It creates a digital replica of a physical asset on a blockchain in the form of blockchain-based tokens. It tames barriers of traditional asset ownership and opens the gateway to valuable assets once reserved for the elite with fractional investments.

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How Distributed Ledger Technology is Revolutionizing the Gaming...

Jul 08, 2024 |

By Abhinav R Soomaney

| Medium

Gaming in the crypto space represents a significant evolution in how games are developed, played, and monetized. Beginning around the early 2010s, crypto gaming emerged when developers started incorporating blockchain tech into video games. This innovation introduced concepts like true ownership of in-game assets through Non-Fungible Tokens (NFTs), which players could sell, buy, and trade outside the game. This concept of NFTs was popularized by CryptoKitties in 2017.

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The Future of Automated Agreements

Jun 27, 2024 |

By Abhinav R Soomaney

| Medium

The concept of smart contracts was introduced by a cryptographer named Nick Szabo way back in 1994. Smart contracts are self-executing programs that have the terms of the agreement or the rules within their codes. They operate on blockchain technology, mostly on Ethereum, and automatically execute agreed-upon conditions once the specified conditions are met. This is one of the most innovative technologies to change many industries concerning efficiency, transparency, and trust.

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A DeFi Tax Guide for Accountants

Jun 02, 2024 |

By Abhinav R Soomaney

| Medium

This article aims to provide a comprehensive guide on analyzing on-chain transactions and accurately classifying them as either taxable or non-taxable events. Here are the steps that accountants and investors need to follow for reporting and maintaining accounting records for crypto transactions. Step 1: Download Transactions: If you use an exchange to transact in crypto, you can easily download the transactions from the exchange website.

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A Cautionary Tale for Algorithmic Stable coins

May 12, 2024 |

By Abhinav R Soomaney

| Medium

Stable coins are important in the cryptocurrency landscape, offering stability and efficiency. The cautionary tale of TerraUSD (UST) highlights the risks of algorithmic stable coins. It serves as a reminder in the ever-evolving digital asset landscape. From Humble Beginnings to Meteoric Rise In 2018, Do Kwon and Daniel Shin launched Terra with the goal of creating a price-stable cryptocurrency for e-commerce payments.

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Is USDT a Ticking Time Bomb?

May 08, 2024 |

By Abhinav R Soomaney

| Medium

Tether (USDT) is a stablecoin that has become a prominent part of the cryptocurrency world. With a circulating supply of 110.97B coins and a max supply of 110.97B USDT, Tether was designed to maintain stability in the volatile crypto market by ensuring that every token issued is backed by an equivalent US dollar in reserve. However, concerns have been raised about Tether's transparency, reserve integrity, and potential market manipulation.

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Abhinav R. Soomaney Has Written a New Crypto Taxation Book

Jan 28, 2023 |

By Abhinav R Soomaney, Nick Marinoff

| Live Bitcoin News

Author and crypto expert Abhinav R. Soomaney has a new book out called “Cryptocurrency in a Nutshell.” In the composition, Soomaney discusses a big topic in the crypto space: taxation. A New Crypto Tax Book By Abhinav R. Soomaney Taxation in crypto has often been talked about amongst even the most knowledgeable analysts given tax protocols within the arena’s borders can be quite complicated.

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Author Abhinav R. Soomaney’s New Book Helps Crypto

Dec 06, 2022 |

By Abhinav R Soomaney

| GlobeNewswire

Los Angeles, CA, Dec. 06, 2022 (GLOBE NEWSWIRE) -- Abhinav R. Soomaney aims to help crypto users through Cryptocurrency in a Nutshell. His book outlines the ins and outs of cryptocurrency, such as NFTs, tax implications, mining, crypto debit cards, and price factors. Since 2018, Soomaney has consulted with investors on cryptocurrency tax calculations and investment management. He has also spoken on global summit panels about the trajectory of cryptocurrency and blockchain.

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