Technologies

5 cryptocurrency predictions for 2022

Experts reveal where cryptocurrency is headed in 2022.

This story is part of The Year Ahead, CNET’s look at how the world will continue to evolve starting in 2022 and beyond.

Cryptocurrency made many of the strangest headlines of 2021. Boosters touted digital currencies as a world-changing technology with the potential to create new economies and empower unbanked populations everywhere. Critics pointed to crypto’s massive environmental footprint, as well as its popularity in online crime. The chasm between these views will be hard to bridge.

Much of the cryptocurrency industry functions as a hype-monster, powered by oddball memes of cute dogs and outer space emoji. The same industry boasts a staggering amount of funding from venture capitalists and private enthusiasts, along with real technical innovations that could radically alter the way we interact with money. And, as it often goes with innovation, what we get may not be what we expect. CNET asked experts to help us navigate crypto’s journey to new lands in 2022. Here’s what they told us.

1. Crypto moves further into the mainstream

Big companies are trying to figure out how cryptocurrency fits into their business. Everyone from hedge fund managers to Starbucks executives is making moves that could impact how we use digital money this year.

When we hear about cryptocurrency in the headlines, it’s often about Tesla and SpaceX CEO Elon Musk’s tweets, overnight millionaires, expensive digital art and hacks. Yet the larger, fundamental changes are often less flashy and attention-grabbing than whatever crypto-hype machine dominates Twitter at any given moment.

«I hope we’re going to see a lot more focus on utility,» said Denelle Dixon, CEO of Stellar Development Foundation. «Instead of focusing just on a few use cases that create a lot of hype, we’ll see more focus on the use cases that drive real value. And more discussion around financial inclusion.»

2. NFTs create new ownership opportunities, and remix old ones

NFT, or nonfungible token, is a buzzy term that many of us heard for the first time in 2021. A new way to determine ownership of digital property using a blockchain ledger, NFTs are increasingly popular in the art and collectibles scenes. One of the most notable NFT collections of 2021 was called the Bored Ape Yacht Club. Go figure.

But the potential of NFTs goes far beyond eccentric digital artworks. NFTs are also used for digital land purchases in virtual worlds and for next-generation music ownership, licensing and publishing. Some observers see a future in which NFTs offer access to special sales or limited-edition products. How about using a NFT as a concert ticket? Or when you log into your favorite video game online? Expect to see all of that in 2022.

«The possibilities of NFTs are endless, since they can be used to log ownership of any unique asset,» Alex Atallah, co-founder of OpenSea, said in an email. «We’re already seeing early use-cases of NFTs being used as event tickets, software licenses, fan club memberships, or otherwise tied to interactive experiences.»

Some of America’s biggest brands, including Nike, are already working on expanding the application of NFTs. But NFTs used in consumer products may only be the tip of the iceberg. How about using an NFT to prove you are you?

«We’ve seen some movement from the artist-driven NFTs to NFTs that are focused on access or authorization,» said Stellar’s Dixon. «There was a party in New York recently where folks got access to the party by purchasing an NFT. So I wonder if we’ll see some focus on leveraging NFTs for digital identity.»

The $85 billion video game industry may be one of the most fertile areas of potential for NFTs. Some of the larger studios are already experimenting with them. And with all the talk surrounding the metaverse, an immersive 3D digital environment that’s been proposed by Meta (Facebook) CEO Mark Zuckerberg and other movers and shakers in the tech industry, NFTs could serve as building blocks for a next-generation digital world.

«Gamers are already accustomed to caring about digital goods, so the potential for NFTs is enormous: a few million NFT users compared to almost 3 billion gamers,» said Atallah. «We’re seeing some exciting developments when it comes to the intersection of NFTs, gaming and the metaverse.»

3. Bigger hacks and bigger ransoms

Cryptocurrencies were used to facilitate millions of dollars of ransomware payments in 2021. That’s because digital currencies include features that make them attractive to criminals. They’re difficult to track, they’re borderless, and once the payment goes through, it’s nearly impossible to unwind.

«We should expect to see more criminals turning to cryptocurrency and services that promise to obfuscate illicit funds due to the misconception of total anonymity,» Gurvais Grigg, a senior tech officer at Chainalysis, said in an email. «Bitcoin is appealing to criminals for the same reasons it appeals to those using them for legitimate purposes: It’s cross-border, instantaneous and liquid.»

Grigg and others expect decentralized finance, a nascent but blossoming industry on the cryptocurrency frontier, to be a popular target for cybercriminals in 2022. Decentralized finance, or DeFi, involves finance that works independently of a central authority or institution. Instead of relying on a bank or credit card network, people can connect directly with DeFiproducts on a distributed network.

Though the industry is still in its early days, DeFi is a fast-evolving, highly technical space with tremendous potential. As such, it’s attracted a great deal of attention and investment, making it ripe for criminal activity.

«Criminals are likely to explore DeFi as both a target for hacking and as a means to attempt laundering funds through,» said Grigg. «Because of how new DeFi is, and the explosion in adoption in developed markets, these platforms are easy targets for experienced criminals who have conducted similar hacks before.»

4. You’ll hear more about stablecoins

Bitcoin and other cryptocurrencies have grabbed headlines because of their volatility. You can become a millionaire or lose it all at the hyper speed of the internet. But try buying a latte with bitcoin, and that volatility can make things confusing fast.

Enter stablecoins. This subcategory of cryptocurrency, which is tied to an underlying asset, mitigates much of that volatility. Stablecoins could play a vital role in turning cryptocurrency into something we can easily use to conduct the ordinary transactions of everyday life.

«People should start paying attention to trends in stablecoins both as a medium of payments and as a dollar digital currency. The use cases for cross-border payments, aid relief, instant settlement payments are starting to flourish in 2021 and we will see more of that in 2022,» Rachel Mayer, a vice president of product at Circle, said in an email.

Transferring assets more efficiently is one of the central values of a stablecoin. This value is powerful for companies that need to move digital assets and cash quickly and efficiently.

«On the payments side, more industries will start adopting stablecoins as a more efficient way to make payments,» Omid Malekan, author of The Story of the Blockchain and a professor at Columbia Business School, said in an email. «Stablecoin volumes will continue to grow, but the share of that volume that is only involved in crypto trading will go down.»

5. New crypto rules appear on the horizon

Washington lawmakers sense that cryptocurrency is a big and important thing. But they are struggling, perceptibly, to understand it. It may only be a matter of time before crypto gets its «series of tubes» moment from a hapless representative out of their element.

In December, executives from six cryptocurrency companies were called to testify before the House Financial Services Committee, where they discussed potential paths for future legislation. Lawmakers in the US have expressed interest in a range of topics — whether stablecoin issuers should be considered banks, when to tax cryptocurrency and how to craft functional rules in a highly technical and complex industry. This is tricky stuff. Creating the right standards will take time.

«I think there’s going to be a lot more conversations around crypto and blockchain,» said Dixon, one of the executives who testified before the House committee. Dixon previously testified on the issue of net neutrality before a House committee during her tenure at Mozilla in 2019 and harbors no illusions when it comes to regulating new technology. Some discourse will be positive and some will be negative, «but I just think that [by] having these conversations, we’re going to see policymakers and regulators be more focused, and hopefully, more traditional businesses will be more focused on that.»

There could be more milestones to reach before Americans see a comprehensive framework for crypto-focused legislation. But if industry leaders and elected officials can work together, regular cryptocurrency users and investors may benefit while environmental and security concerns are addressed.

«It’s important to understand that the cryptocurrency industry wants to be regulated, but wants to ensure that proposed regulatory frameworks are feasible,» said Grigg. «Governments globally are working with industry players to create legislation that protects consumers and fosters innovation.»

As the cryptocurrency industry grows up, it will continue to shift in ways we can’t yet imagine. But one thing is clear: Crypto will be a part of our future.

Technologies

Wild Weather Ahead: Here’s How 2024 Is Shaping Up After the Hottest Year on Record

The climate crisis is impacting communities around the world. Here’s what to know about dealing with extreme weather in 2024.

We just lived through the hottest year since recordkeeping began more than a century ago, but before too long when we look back at 2023, it might not stand out as the pinnacle of extreme heat.

That’s because it’s unlikely to be the only hottest year that we experience. Our climate is changing, growing warmer due to the emissions from burning fossil fuels, and our weather is changing with it. It’s possible that this year may turn out to be hotter still.

In March, scientists from the EU’s Copernicus Climate Change Service said February 2024 was the hottest February according to records that stretch back to 1940. The news came on the heels of their report in early January that, as expected, 2023 was indeed the hottest year on record. Temperatures closed in on the critical 1.5-degree Celsius rise above preindustrial levels, after which we will see irreversible damage to the planet. These aren’t freak outliers: The extreme heat we’re experiencing is something we’ll need to be prepared to deal with on a much more regular basis, along with storms, floods and drought.

Later in March, the US National Oceanic and Atmospheric Administration issued its spring outlook, predicting that most of the continental US and Alaska will see above-average temperatures from April through June. The risk of flooding, it said, will ease during the three-month period because of «historically low winter snow cover» in large parts of the country.

A key trend highlighted by the US government’s Fifth National Climate Assessment, published in November, was that climate change is provoking extreme weather events across the country that are both more frequent and more severe. It pointed to an increase in heatwaves and wildfires in the West over the past few decades, the increased drought risk in the Southwest over the past century and more extreme rainfall east of the Rockies. Hurricanes have also been intensifying, as those who have found themselves in the path of a storm know all too well.

You’ll need to be prepared. Extreme weather is going to have a widespread impact on industry, society and individuals. Last year in the US there were 25 extreme weather events with losses amounting to over $1 billion that resulted in the deaths of 464 people. People lost their homes, saw personal property damaged or suffered mental and physical health issues.

Three months into 2024, we’re staring down the barrel of another potentially record-setting hot year. If there’s a silver lining, it’s that the US is now better prepared than ever and we know what steps you can take to better deal with these unwelcome events. When it comes to weather, forewarned is forearmed.

The US has been taking active steps. The Biden administration has provided funding to build resilient communities, and a new (as of September 2023) National Climate Resilience Framework, which should provide the US with a whole range of protections. These include conserving water resources, modernizing and strengthening the electric grid against weather and disasters and building infrastructure to protect communities and ecosystems from sea level rise, tidal flooding, hurricanes and storm surges.

At home and in your community, you can take steps, too, including preparing your home for wildfires and flooding and recognizing signs of heat-related health issues. This way, when wild weather comes calling, its impact on our homes, health and livelihoods is minimized.

Forecast 2024

Last year’s heat was no anomaly. It’s part of a long-term trend: The last 10 years have been the 10 warmest on record, according to NASA, with most of the Earth’s warming taking place over the last 40 years. Most forecasters are anticipating yet another year of extreme heat ahead.

«If we look at the forecast for the next three months in the long range, it’s suggesting that the trend that we’re seeing in baseline warming could continue, and so 2024 could rival 2023 for being the hottest year on record, which is very scary,» says Chloe Brimicombe, a heatwave researcher at the University of Graz.

Some of the extreme weather we experienced in the latter half of last year and will continue to experience in the first half of this year is a result of El Niño, a cyclical climate event that sees unusually warm ocean waters that has a knock-on effect of warmer temperatures and increased rainfall across the southern part of the US. For instance, temperatures in Death Valley, California, peaked at 128 degrees Fahrenheit in July, while forecasters predicted warmer temperatures in northern parts of the US stretching into February and a colder, wetter winter for Southern states.

While meteorologists are able to make long-term predictions about El Niño, other climate-related predictions are trickier. «All things told, we’re going to see an increased prevalence of heat events across the globe, but we can’t tell right now exactly where that will be,» says Andy Hoell, a climate scientist at NOAA.

What we do know, he adds, is that the climate crisis can compound events such as extreme heat or extreme rainfall to make them more likely or more severe.

In the past, it wasn’t always easy to draw direct links between extreme weather events and climate change. But huge improvements in attribution science (the ability to specifically identify emissions as the cause for unusually dramatic weather) in recent years have changed the game. The World Weather Attribution program, based at Imperial College London, has now completed nine studies on droughts, heatwaves, wildfires and heavy rainfall in North America. «Every study found that climate change made the event more intense and more likely,» says Ben Clarke, a researcher at WWA.

The speed at which climate scientists are able to identify human-caused climate change as the culprit for extreme weather has also dramatically improved. Last year alone, Climate Central was able to attribute record-breaking spring heat in the western US, and ongoing extreme heat stretching through the summer in Texas and Florida, to climate change as it was happening. «It’s much more impactful as far as our understanding of what climate change really is if we can make that connection in real time,» says Andrew Pershing, vice president of science at Climate Central, a climate science analysis non-profit.

Thanks to attribution science, we can confidently point to a heatwave we’ve experienced and say whether climate change played a role in making it happen. But it also helps us to recognize that extreme weather events we’re experiencing are part of a pattern – one that can’t be broken without tackling the root causes of the climate crisis. «Until the world moves away from fossil fuels and reduces emissions to net zero,» says Clarke, «extreme weather events in North America will continue to become more intense, more dangerous and more deadly.»

Even if you live in a region that hasn’t yet directly been impacted by a climate-linked weather event, you’re not off the hook.

«As the climate continues to warm, most areas will be at an increased risk of some types of climate-linked extreme weather,» says Russell Vose, chief of the Monitoring and Assessment Branch at NOAA’ National Centers for Environmental Information and one of the NCA’s authors. «Perhaps the best example is extreme heat – it can occur anywhere.»

He points to the scorching heat dome that descended on the Pacific Northwest in June and July 2021, which was unprecedented in the historical record. The unpredictable nature of such extreme heat means no regions are marked as safe.

In fact, a region that’s been lucky enough to not yet experience an extreme heat event is more likely to experience one in the future and suffer more greatly due to lack of preparedness, according to a study published by scientists from Bristol University last April.

Scientists are more concerned about the ability of people in areas that don’t usually get intensely hot to cope when their turn comes. «What worries me would be something in the Upper Midwest or the Northeast that just hasn’t had a major heat event for a few years,» says Pershing. «I think we kind of lose a little bit of that muscle memory.»

Weather’s unequal impacts

The weather might not discriminate when it comes to who gets hit, but that doesn’t mean its impacts are experienced equally by all groups across American society.

«Certain groups are simply more vulnerable to extreme events due to geographic, socioeconomic or demographic factors,» says Vose. He points to the extreme rainfall brought by Hurricane Harvey in 2017, which led to a large number of homes being flooded in Harris County, Texas, with a disproportionate impact on low-income Hispanic neighborhoods.

When a heatwave hits, it will feel hotter in high-density urban environments that are more likely to be occupied by people of color or people living in poverty than in more spread-out neighborhoods or rural areas. Then some are homeless and can’t access health care. They have little ability to protect themselves, no matter how much warning they get about an incoming heatwave. This makes these groups much more vulnerable to the health risks of extreme heat.

Heat researchers are extremely concerned about people who live in housing not resistant to warm temperatures, says Brimicombe, who points out that those who rent are especially at risk. «If you’re a tenant, you have less ability to adapt your house to extreme heat than if you’re a homeowner,» she says. «And that also means young families, because babies are vulnerable to extreme heat.»

Not only are economically disadvantaged communities in the US more susceptible to feeling the worst impacts of extreme weather, but they have also done the least to contribute towards the climate crisis in the first place. A study published last August revealed that the wealthiest households in the US are historically responsible for 40% of the country’s climate emissions.

Meanwhile, these same households have more tools at their disposal to protect themselves from the impact of climate-related weather events. In 2019, The New York Times reported that wealthy California residents were banding together to hire private firefighters to protect them from the impacts of wildfires.

The Biden administration is well aware that marginalized and minority groups are hardest hit by climate change, including extreme weather. At the beginning of his term, the president set up the White House Environmental Justice Advisory Council, made up of leading experts from the US climate justice community.

Last September the group published its policy recommendations urging the government to ensure climate disasters do not further or exacerbate harm to vulnerable populations and communities.

«Disaster relief should never be the cause of deepening inequality in any neighborhood, region, or Tribal community,» the council wrote in its recommendations. «When disaster hits, the goal of government should be that the people hit the hardest should emerge stronger and more secure than before, not the opposite.»

It recommended a number of measures that would help protect people in case of extreme weather including the creation of a low-cost national flood insurance and the establishment of a «Just Relocation Fund» that would provide communities hit by climate impacts with a relocation process based on a dignity framework with respect for their human rights.

The White House has yet to respond to the recommendations, but if it does act on them this would hopefully prevent a repeat of the aftermath of Hurricane Katrina in 2005, in which Black communities were allocated less money to rebuild their housing, resulting in a lawsuit against the federal government.

Through the Bipartisan Infrastructure Law and other initiatives, the Biden administration is investing heavily in adaptation, mitigation and resilience measures designed to protect all Americans from the impacts of climate-linked extreme weather. As with all funding, people may have to wait some time to feel the full impact of that funding. In the meantime, there are a number of steps you can take to keep yourself safe in the months ahead.

How to weather the weather, whatever the weather

Summer’s not so far off, meaning sizzling days are on the horizon.

Intense heat poses some scary risks to our health, including heat cramps, heat exhaustion and heat stroke, which can be life-threatening. It’s important to familiarize yourself with the signs so that you’ll recognize them in yourself and others, and can therefore seek medical attention if necessary.

Remember that heat is more likely to adversely affect older people, children and babies, and those with preexisting health conditions. There may be cooling centers or other well-air-conditioned places in your community where you can take refuge – if you do, consider taking elderly or vulnerable neighbors with you. «Look out for friends and families,» said Brimicombe. «Don’t be complacent.»

The British writer and fellwalker Alfred Wainwright is widely credited as coining the phrase, «there’s no such thing as bad weather, only unsuitable clothing.» Wainwright, who died in 1991, didn’t live through the kind of consistently bad weather we’re experiencing in this era of extreme heat, but that doesn’t mean we have nothing to learn from him. In the midst of a heatwave, it’s best to wear loose-fitting clothes in light colors, rather than black, which absorbs the heat.

Make sure you stay hydrated and try to spend as little time as possible outside in the sun. Try to block sunlight from warming your house, and consider buying reflectors to place in your windows that can help keep the heat out. At nighttime, take note of when it might be cooler outside than in, and use this to your advantage by opening doors and windows to let the internal temperature of your house regulate. Fans can be effective, but at very high temperatures they’re likely to just start pushing the hot air around – in which case you should, sparingly and without putting too much pressure on the grid, resort to air conditioning, or moving to your local cooling center.

Remember that global warming is worldwide, so the same heat warnings apply even if you plan to travel to other parts of the world over the summer. The heat waves that hit the US in the summer of 2023 also impacted areas of Europe, including popular vacation spots in the Mediterranean. Countries including Greece, Spain and Italy were all affected by wildfires that resulted in the evacuation of locals and tourists alike from some areas and islands.

The surge in Europe-bound American tourists that occurred in 2023 is expected to continue this year, but if you’re planning to be among them it’s important not to travel without comprehensive insurance. Likewise, if you’re traveling in the peak months of July and August, be prepared to adjust your itinerary in case of extreme heat to ensure you’re not putting your health at risk. This may mean spending more time indoors than you’d planned for the sake of your health.

For other types of extreme weather that may hit your property such as wildfires, storms or floods, it may be useful to have an evacuation plan. You should prepare an emergency evacuation bag, also known as a go bag or a bug-out bag. Don’t forget to plan for your pets. The National Fire Protection Association has a handy guide on how to prepare your home for wildfires.

One of the easiest but most important things you can do is keep an eye on long- and short-term weather forecasts. The silver lining for people in the US, says Pershing, is that the country has great weather forecasting capabilities and the channels to communicate incoming events to people so you can prepare. «The gaps are really whether you take it seriously yourself,» he says.

So for anyone who does take it seriously, be sure to read our tips on how to prepare yourself and your home for wildfires, hurricanes, floods and storms.

Here are some additional resources:

For even more details on natural disasters and how to prepare beforehand or respond after an event takes place, check out https://www.ready.gov/.

Correction, March 15: This story originally misstated the name of the National Fire Protection Association.

Technologies

SpaceX Calls Mission 3 a Success, Despite Losing Starship: How to Rewatch

On its third attempt, SpaceX launched its Starship and cruised into space, but lost the rocket after reentry to Earth.

SpaceX launched its third Starship mission on Thursday, with the space exploration company owned by Elon Musk forging ahead after the first two attempts exploded after takeoff. SpaceX considers those first two missions successful, thanks to the data it was able to collect, and the third mission was the most successful of the bunch.

Shortly before 9:30 a.m. ET Thursday, the company posted three words to the Musk-owned X social media site: «Liftoff of Starship!» A 36-second video showed the rocket engines igniting and then Starship rising amid a cloud of exhaust smoke and up into the sky.

But the rocket did not complete the round trip, as you can see by rewatching the full test flight. «The ship has been lost. No splashdown today,» Dan Huot of SpaceX communications said on the stream. «But we were able to get through some of the early phases of reentry.»

SpaceX quality engineering manager Kate Tice noted on the stream that SpaceX wasn’t intending to recover Starship anyway, and had been planning to crash it into the ocean.

Starship is arguably the most ambitious effort for Musk, who owns the satellite-based internet company Starlink along with X, EV maker Tesla and the neurotechnology company Neuralink. The Starship missions are critical to SpaceX’s — and Musk’s — goal of getting to and eventually settling the moon and Mars.

With a new flight trajectory and hopes for new data insights, the space company’s third mission may prove to be its most important yet.

When did the Starship mission launch?

Starship’s third mission launched on March 14. It had been pending favorable weather and a license from the Federal Aviation Administration.

How to rewatch Starship mission 3

SpaceX set up livestreams for watching the third mission. One was the SpaceX account on X, and another was the SpaceX third mission landing page. You could also watch via CNET’s YouTube channel.

You can rewatch the launch on X, on the mission 3 page, or via CNET’s YouTube stream embedded here.

What SpaceX achieved in Starship mission 3

SpaceX’s third Starship mission was designed to test whether the spacecraft can complete certain tasks. After liftoff, the company planned to open Starship’s payload door and transfer its propellant from one part of the vehicle to another. For the first time, SpaceX also attempted to relight its Raptor engine while in space, a test that could be critical for future missions as it eventually tries to propel Starship through space.

Starship took a different flight path this time around, and had planned to land in the Indian Ocean instead of the Pacific Ocean until it lost the vehicle after reentry. In a statement, SpaceX said that the new flight path was designed to maximize «public safety,» but the company didn’t discuss how.

The new flight path also paved the way for SpaceX to try «in-space engine burns,» a reference to the company attempting to reignite the Raptor engine in space.

«Huge congratulations to the entire team for this incredible day: clean count (glad the shrimpers could get out in the nick of time!), liftoff, hot staging, Super Heavy boost back and coast (and likely a couple engines making mainstage during landing burn!), clean ship ‘insertion’ and coast, payload door cycling and prop transfer demo (to be confirmed!), and ship entry!» SpaceX President Gwynne Shotwell posted on X following the launch, naming the successful components of the test.

The mission was slated to last for 1 hour, 15 minutes. Previous missions, if completed, would have lasted 90 minutes.

What happened in the previous missions?

April mission: Forced detonation

The first Starship mission launched in April 2023. Early on in the mission, the two stages of Starship — the reusable upper stage, called Starship, and its Super Heavy first-stage booster — were supposed to separate. That didn’t happen, and for safety reasons, the SpaceX team was forced to detonate the vehicle just 4 minutes into the mission.

November mission: Explosion due to liquid oxygen

In November 2023, Starship launched on its second mission. That time around, Starship was able to separate its two stages and it reached nominal first-stage engine burn. However, Starship exploded 8 minutes after launch when it tried to vent its liquid oxygen. Oddly, the explosion may not have needed to happen. Earlier this year, Musk said on a real mission carrying payload — meaning the materials a spaceship carries to perform its scientific mission — liquid oxygen wouldn’t be onboard.

«Starship’s second flight test achieved a number of major milestones and provided invaluable data to continue rapidly developing Starship,» the company wrote on its site. «Each of these flight tests continue to be just that: a test. They aren’t occurring in a lab or on a test stand, but are putting flight hardware in a flight environment to maximize learning.»

Corinne Reichert contributed to this report.

Technologies

iOS 17 Cheat Sheet: All Your Questions on the iPhone Update Answered

We explain everything from new features to upcoming updates.

Apple’s iOS 17 was released in September, shortly after the company held its Wonderlust event, where the tech giant announced the new iPhone 15 lineup, the Apple Watch Series 9 and the Apple Watch Ultra 2. We put together this cheat sheet to help you learn about and use the new features in iOS 17. It’ll also help you keep track of the subsequent iOS 17 updates.