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 situation in Africa is characterized by extremely low level of bank adoption – and this fact may work in favor of the crypto sphere development in the region. The new platform called Binance Uganda will try to attract users with a month of zero transaction fees.
South Korea’s Financial Services Commission has revealed its new anti-money-laundering and know-your-customer rules for for crypto exchanges.
IP Gold, an IP-based services ecosystem, has announced its 24-hour event to mark its successful migration from the Ethereum blockchain to NEM.
Cryptocurrency platform INGOT Coin together with GMEX-Group and other vendors are forming an alliance Komorebi to revolutionize the existing trading system.
Hive Project collaborates with Latin American Gosocket to make Hive Project the first truly global blockchain-based invoice financing solution.
Though there is still little clarity regarding the future of cryptocurrencies in India, the authorities promise to present crypto regulations in July.
The asset exchange network and decentralized real-time application platform has just started ICO. Early supporters not only get the best deal, but can make the most of early forging that is scheduled for August.
Snovio launches of phase 1.0 of Snovian.Space a brand new social platform for airdrops and networking allowing users to earn rewards for being contacted.
This institutional platform will provide its customers an easy exposure to the cryptocurrency market with their products and services while ensuring security.
A new project for a stabilized cryptocurrency Reserve that would function “like normal money” is backed by such prominent investors as Peter Thiel, Coinbase, and others.
Carbon Grid Protocol is going to make blockchain transactions and mining environmentally friendly through their decarbonizing.
The Bitbox cryptocurrency exchange will be available to global customers except for the residents of Japan and the U.S due to growing regulatory involvement.
The scalability solution used for Bitcoin has finally got TOR support, an optimized mechanism for smartphones and a full-fledged wallet.
On June 27 the CEO Coinbase, Brian Armstrong, announced the launch of a new cryptocurrency powered charity called Givecrypto.org. The fund will provide donations made in cryptocurrency to people in need.
Ripple is still trading in a descending channel on Thu, June 28. Today, it lost 2.4% and costs $0.4598.