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.
According to analyst Ali Martinez, XRP has formed an ascending triangle and could soar to $2.40 in the near future.
Bitcoin whales on Binance haven’t shown any signs of panic while the broader market wanders in uncertainty.
Mantra (OM) collapsed a whopping 90% in the past 24 hours as doubts of a rug pull flooded the crypto market.
An Ethereum whale has added almost 16,000 ETH to its bag, suggesting that the downtrend for the market leader is almost over.
Ripple Labs is once again shuffling XRP between wallets, a trend that has sparked speculation on possible impact on the price of the coin.
Lawmakers in the Illinois Senate have passed new legislation to protect users against common crypto fraud in the region.
XRP shot up almost 3% in the past 24 hours after Ripple and the SEC submitted a joint filing for a 60-day pause to their appeals and cross-appeals.
World Liberty Financial (WLFI) dismissed reports claiming the sale of $8 million worth of ETH earlier this week.
BNB Chain has completed the Lorentz testnet hard forks just as BNB Coin breaks out of a year-long technical pattern, signaling a potential price rally.
Vitalik Buterin has proposed a roadmap to fix privacy on the Ethereum Layer-1 chain, setting a new benchmark for protocol functionality.
Analysts suggest that Bitcoin price is facing a strong wall at $84,000, which could lead to a breakout for BTC toward $96,000.
Ethereum continues to underperform but the rising bearish sentiment could signal a bullish rally for the cryptocurrency, according to Santiment.
A wallet address affiliated with the fallen crypto exchange FTX unstaked over 186,000 SOL, hinting at a potential selloff similar to last month.
Cardano founder Charles Hoskinson believes Bitcoin’s price could rise over 100% to reach $250,000 this year.
Synthetix’s stablecoin, sUSD, has plunged to a five-year low of $0.83, raising investor concerns about its stability.