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.
The first Commonwealth Bank of Australia’s blockchain-based bond has raised $110 million which exceeded all the expectations.
Huobi has welcomed Randi Zuckerberg as a member of its Chain Expert Advisory Committee. Together with seven other experts, Facebook CEO’s sister will be working on the future development of the Huobi platform.
Popular crypto analysts Tom Lee and Anthony Pompliano share contradictory views on when Bitcoin is headed next. Take a look at what they have to say.
The new app launched by Venezuela’s central bank will convert the old fiat currency Bolivar to new Petro pegged Bolivar Soberano by takes five zeros away from the Bolivar.
Meet UnicornGO – an online game wherein users can buy, sell, exchange, upgrade, breed and clone mythical unicorns taking advantage of free transactions and possibility to raise money just having fun.
While blockchain builds an alternative self-regulatory crypto-economy, Universa comes to solve specific tasks of the existing one.
The data also show a consistent drop in the ‘HODL’ frequency, while on the other hand there a growing ‘REKT’ frequency.
A draft of Iran’s state-backed cryptocurrency project is ready, reveals the country’s National Cyberspace Center.
The most advanced blockchain platform in the world, Skycoin launches its Skycoin mobile wallet for Android with a plethora of easy-to-use innovative features.
Blockchain powered clinical trial management, ClinTex will implement its innovative Clinical Trials Intelligence to lower the costs of medicine.
Hong Kong-based Libellum Ltd will struggle the opacity of the world’s largest supply chain market to make the process of entering it easier.
The victims of infamous cyber attack on the Mt.Gox exchange are eligible to file proof of their claims in a newly-approved rehabilitation process.
High transaction fees, long lasting verification process, the third party commissions – all these factors can undermine the pleasures of the gambling industry. The new platform brings the benefits of decentralization to the betting markets.
Blocktrade Technology Ltd., a subsidiary of Stockholm IT Ventures AB, has signed an agreement with Valens Bank to provide a crypto fund trading service.
A new decentralized reputation and payment system Ink Protocol set to disrupt traditional marketplaces allowing users safely send and receive payments in P2P marketplaces while earning a public reputation for every completed transaction.