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.
Called IQB Hunter Game, the new airdrop game provides a chance for the platform’s users to win free cryptocurrencies by performing small tasks.
Skycoin is looking to break into the Korean market – number one market globally in terms of smartphone ownership and Internet usage.
The Chinese authorities make new attempts to block the access to the overseas crypto trading platforms. Local websites and WeChat accounts accused of providing crypto trading or ICO services also get under the hammer.
The cryptocurrency made some faint bullish effort that was often followed by consolidation in the market and that led to the formation of “falling wedge” pattern; this may lead to increases in the rate.
The Bank of Thailand’s is going to finish the first phase of its work on Central Bank Digital Currency (CBDC) early next year.
On August 21st, digital money platform was granted a UK Financial Conduct Authority e-money licence, which means that Wirex is trustworthy and committed to maintaining high compliance standards in its business operations.
100 million USDT tokens were transferred from the Tether Treasury to the digital currency exchange Bitfinex just hours before the Bitcoin price surged.
SEC says that the insufficient volumes of Bitcoin Futures don’t satisfy the agency’s rules to prevent fraud and manipulation.
UK-based prepaid debit card service Revolut has introduced Revolut Metal — debit card that allows customers to withdraw up to 1% cashback in either fiat or cryptocurrency on transactions outside Europe, or 0.1% of any transaction within Europe.
Taking long trades is not advisable at the moment because the long-term trend is bearish, and the bearish pressure may continue for some time.
There is probability that the price might go down within the next several trading days, by making a break out towards the south at $0.015.
Bitcoin has shown a surprising up-move today, however, the low trading volumes and huge short orders won’t let the momentum sustain further.
The fresh news has seriously surprised the community: Ripple is considering integration of xVia, xCurrent and xRapid into one solution named Convergence.
A decentralized online retail ecosystem Shopin is set to build a healthier and more rewarding retail ecosystem, which connects shops and businesses with customers without sacrificing personal data privacy.
Few days after SoftBank and Tencent disputed their involvement in a widely reported pre-IPO investment round of Bitmain, DST Global denied investment in the giant’s IPO as well.