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.
It became known that local authorities of Chinese mountain region Xinjiang are going to haul illegal mining activities before summer 2018 will come to a close.
KT Corporation will use the blockchain technology to streamline several of its processes including energy trading, data roaming and ID verification.
Investing into blockchain startups can be rather challenging for small investors. Nevertheless, working with funds can open new opportunities for them.
XMR Wallet is one of the few wallet platforms which conducted a third-party audit and published its results publicly. All the issues found are already resolved.
Ethereum-based games developed by a group called Team JUST turned out to be Ponzi scams serving as an experiment to gauge how far greed can drive people.
Government officials in Xiongan New Area have established cooperation with ConsenSys with a view to create blockchain solutions for China’s “dream city.”
Bitcoin finally hits the $8000 benchmark as the daily trading volumes reach close to $6 billion. With this, Bitcoin posts 20% gains in the last one week.
Amid high volatility of crypto markets that shift from bear to bull trends in a blink of an eye, knowing key principles of investing is a must which will certainly make difference.
The Bank of England is planning to modernize its Real-Time Gross Settlement system (RTGS) by 2020. The updated version will be compatible with blockchain-based financial technology forms.
More than 97% of people commenting on the SEC website have shown sincere interest in Bitcoin ETF. The SEC ruling is expected to arrive by September.
The capital city of Jiangsu province, Nanjing has launched a $1.5 billion blockchain investment fund to boost the token economy and public blockchain projects in China.
European Union Study shows central banks coming together with their own digital currencies, i.e., CBDCs could mean an end of the journey for the decentralized digital tokens.
Elpis Investments introduces AI trading technology enabling traditional, institutional and novice investors start profiting from both digital and traditional assets.
An open-source public blockchain Metaverse puts transparency at the core while making convenient and secure digital financial services accessible to all Internet applications.
Wirex meets an increasing demand for the XRP token adding Ripple Wallet to the platform. Company’s CEO Pavel Matveev provides his comments on the matter exclusively to Coinspeaker.