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.
One of the world’s largest stock exchange Nasdaq organized a closed-door meeting devoted to the issues of cryptocurrency regulation.
Despite high-ranking government officials still speak about cryptocurrencies very cautiously, the fact that crypto-summits take place and officials are following crypto-market developments shows the potential for widespread crypto adoption.
Google has updated its Play Store policy banning all the apps engaged into cryptocurrency mining activities along with low-quality and low-effort applications.
An economic and crypto researcher at the Canada’s central bank says that the existence of CBDCs could provide better flexibility in creating monetary policies.
Following a billions-worth heist of cryptocurrency exchanges, South Korea’s financial regulator urged lawmakers to pass the bill bringring exchanges under the FSC’s direct supervision.
In spite of all the previous rumors, CME Group Inc. is not going to introduce futures on cryptocurrencies other than Bitcoin.
Ethereum-based protocol KICKICO suffered a hack attack. 70 million KICK tokens were stolen. Currently, the problem is eliminated, and all the stolen tokens are promised to be returned to the holders.
Meet Leblock, a merger of blockchain and gaming industry, which aims to become a “virtual LEGO” and link the technology with the mainstream.
South Korean tech giant Samsung has explained why smartphones are better devices for crypto transactions than laptops. It is a matter of different ways of storing the data.
The SEC argued that the rule changes to tackle fraud and manipulation made by BZX exchange did not meet the requirements of Exchange Act and the commission’s existing guidelines.
Ajay Banga, the leader of the multinational financial services corporation, made a number of critical statements on the cryptocurrency. But the logical reasoning backed with striking examples provokes thoughts on the main concepts of the crypto sphere.
Iran is planning to develop its own digital currency as a solution to overcome new economic sanctions introduced by U.S. President Donald Trump.
On Thursday, July 26, Stellar continues to grow, but its growth rate has slightly slowed down, reports Dmitriy Gurkovskiy, Chief Analyst at RoboForex.
BINEX.TRADE unveiled the Alpha version of its innovative exchange in order to test-run the exchange platform’s performance without the traders.
OraSaifu has launched the world’s first all-in-one hardware cryptocurrency wallet, offering its users bank level of security for credit cards and cryptos.