For the average millennial or at least anyone that pays attention to the business world, the term “cryptocurrency” would not seem like such a strange word. If that is, then the terms Bitcoin, Ethereum or at least Blockchain should ring a bell. One might wonder, why are these terms suddenly so prevalent, especially cryptocurrency news? Computing is getting rather pervasive and the society is leaning towards digital services. The finance world too isn’t spared as the disruption of technology into this sector has fostered the birth and development of Fintech organizations.
These Fintech organizations look to digitize payments and transactions, offering the same services that are currently in existence but in a better, efficient and more effective way.
Blockchain is the network upon which most of these cryptocurrencies operate on. The history of blockchain and bitcoin, in particular, does not have a definite story. In 2009, an individual or group of individuals known to be “Satoshi Nakomoto” developed and published the technology to allow people make digital payments between themselves anonymously without having an external party to verify or authorize the transfer of the currency being exchanged.
Although technologies like this might seem rather complex, understanding how Blockchain works is quite easy, given that one has a basic idea of how networks work. Blockchain is simply a database shared between several users, containing confirmed and secured entries. It is a network, where each entry has a connection to its previous entry.
This technology affords a very secure model whereby every record in the database cannot be tampered with. Apart from the stellar security that this network offers, the transparency and speed at which the network operates give it an edge over the conventional way of conducting transactions.
In simple terms, cryptocurrencies are just monies in digital form, transacted via digital means and over a digital network. The transfer of these currencies is utilized with cryptography and the aforementioned blockchain network. Up until the 2010s, cryptocurrencies were not really known until Bitcoin made its breakout and this gave rise to the birth of new cryptocurrencies.
Cryptocurrencies have had their fair share of bullish and bearish trends, going to show how unstable they can be. The latest cryptocurrency news reports lots of people predicting prices for various cryptocurrencies in the years to come but no-one can say for sure.
Blockchain, on the other hand, is making its way into pervasive computing, especially IoT, giving way for the development of new solutions that embrace data security and transparency.
Litecoin price jumped 13% today, reaching $92.5, with trading volumes soaring 66% to $900 million.
Bitcoin price is hovering near $98,000 as investors await today’s U.S. Federal Reserve rate decision amid rising inflation and slowing growth.
KAITO has risen over 65% in just 24 hours, breaking past the $1 mark as trading volumes reached over $577 million.
An early Ethereum investor sold $34M worth of ETH on Kraken ahead of the upcoming Pectra network upgrade.
Metaplanet has intensified its Bitcoin accumulation strategy with a fresh 555 BTC purchase, pushing its total holdings to 5,555 BTC.
Bhutan is launching a crypto tourism payment system that will allow travellers to pay for services with crypto assets in their Binance account
The United States Senate is ready to commence voting on the GENIUS Act by May 8, marking progress for the stablecoin and crypto regulation.
Ahead of the Ethereum Pectra upgrade, ETH price has rebounded with declining spot trading volumes hinting at easing volatility and selling pressure.
Deposits and withdrawals on Ethereum networks will not be possible on Binance during the scheduled upgrade today.
SUI is trading at $3.40 with a 1.7% daily gain, as it consolidates in a bullish flag pattern amid growing institutional interest.
Bitfinex highlights $95,000 as a critical support level, pivotal for determining Bitcoin’s next directional move.
NEAR Protocol saw a 50% surge in trading activity on Wednesday amid Bitwise’s recent SEC filing for a spot NEAR ETF.
Hacks within the crypto ecosystem skyrocketed by nearly 11 times since May.
Citibank has partnered with Switzerland’s SIX Digital Exchange (SDX) to tokenize, settle, and safeguard assets in the $75 billion private equity market.
The UK has ruled out creating a national digital asset reserve but is instead working with the US on regulation and exploring blockchain use cases.