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.
Though some optimists still hope for the bright future for cryptos, Ethereum co-founder believes that we won’t see 1000x Growth again.
The SEC cited the reason of its interim suspension stating that the funds create a “confusion amongst market participants.”
Lightning Network developer Alex Bosworth proposes interesting solutions for easy interoperability between the Bitcoin and the Lightning network.
In this interview, Spin Protocol’s founders Jay Yu (CEO) and Kyle Kim (CBO) share their insights into e-commerce market, explaining how their project could help businesses get rid of intermediary burden.
Block producers EOS New York has proposed cutting down on RAM required to open new accounts thereby cutting costs by 25%.
Hu-manity aims at establishing transparent data-sharing between individuals and corporations. Hu-manity’s global consent ledger gives users absolute control over individual data.
The world-known web browser Opera has realized new functionalities enabling users to send collectibles, such as CryptoKitties, directly from the built-in crypto-wallet.
Should the price break and close above the supply level of $0.30, would interrupt the current bearish phase.
The Australian Securities and Investments Commission views cryptocurrencies and crypto-related activities including ICOs as potential threats for traditional financial markets.
China’s Supreme Court announced that blockchain technology can now be officially used to authenticate evidence in legal disputes.
Uptrend movement could be triggered in case the supply zone of $0.11 is broken; a clear break and weekly close above the supply zone of $0.11 would interrupt the bearish testing demand zone of $0.08 and the supply zone of $0.13 would be exposed.
While cryptos are becoming replaced by new cryptographic platforms boasting broader functionalities, emergence of technology based projects, which go far beyond the creation of simple payment means, changes direction of blockchain development.
Coinbase is considering an opportunity to join forces with the biggest asset manager in the world, BlackRock, with a view to develop a Bitcoin exchange-traded fund (ETF).
Goldman Sachs will continue working on cryptocurrency trading desk as well Bitcoin derivate products and clearing physical futures contracts.
Whilst information is the lifeblood of the digital revolution, it’s the blockchain technology and Tap Coin-like applications that have all keys to revolutionize the advertising sphere freeing it from gigantic money losses and frauds.