News

Indian cryptocurrency project bags ‘world’s fastest blockchain’ accolade

The relatively young high-performance blockchain network, TechPay Coin, wins the ‘world’s fastest blockchain’ award. TechPay Coin’s network achieved past remarkable throughput levels of 300,000+ TPS besides an absolute minimum of 500 milliseconds transaction Time-to-Finality. The group of TechPay Coin received the award at Crypto Expo Asia 2022 held in Singapore between June 22 and 23,…

Crypto tax

CBDT releases crypto TDS guidelines

The CBDT (Central Board of Direct Taxes) has shared clear guidelines on the newly introduced TDS on crypto transfers which will be applicable from July 1.  The guideline was published on 22nd June evening, and in this blog and we’ll break it down for Blockmagic readers. The Income Tax department has published much-needed guidelines to throw…

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Environment

Here is How Blockchains are Assisting with Reducing Environmental Impact

Over the last several years, governments and organizations worldwide have discovered that mitigating climate change and biodiversity loss challenges are only attainable through innovation. One of the means that could be highly useful in tackling the climate crisis is blockchain.  Blockchain could be utilized to ensure sustainable business practices via: Renewable energy As per UN…