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.
Brad Garlinghouse, CEO of Ripple, that Bitcoin will not be a global currency and expects major banks to use XRP as a liquidity tool.
Swiss Alps Energy intends to deploy free mining facilities in the Alps to reduce electricity costs and make the whole process most eco-friendly.
Crypto sphere attracts all the more attention winning minds of governments, top industrialists and businessmen. Now richest bankers and the whole dynasties take the lead in this crypto expansion.
Powered by blockchain and artificial intelligence (AI) technology, the new platform will help financial institutions with digitization of their business processes.
The revolutionary 7nm semiconductor chips have become the heart of more powerful and energy efficient mining rigs that outperform popular rivals.
A newly launched crypto index fund called OK06ETT gives investors exposure to a basket of six major cryptocurrencies including Bitcoin (BTC), Ethereum (ETH) and Bitcoin Cash (BCH).
A non-profit ID consortium Digitrust has announced their new utility token Willtoken. The crowdsale is currently on its Stage 1.
British-American cybersecurity pioneer John McAfee is planning to run for the role of US President in 2020, aiming to promote the rights of the crypto-currency community and change the crypto landscape for the better.
TzLibre, a hard-capped fork of the Tezos idea, has officially launched its TZL token. All Tezos ICO contributors can now exchange their TXZ coins for TZL.
Coinbase is working with the Japanese FSA to obtain a license with Mitsubishi UFJ Financial Group Inc. (MUFG) to be its prospective banking partner.
The Befund team created their platform to expand the crypto trading ecosystem by connecting non-professional crypto enthusiasts with well-managed funds run by talented crypto fund managers.
Although the cryptocurrency market has witnessed a significant slowdown, the ICO market is going rock-solid in 2018.
Recently Twitter and Square Jack Dorsey said that bitcoin would one day become the single global currency. At Money20/20 conference taking place in Amsterdam, Apple co-founder Steve Wozniak supported this opinion.
More than 30 local businesses, including restaurants, resorts, tour operators, and spa owners will start accepting payments in a range of digital currencies.
The company working in the sphere of enterprise level blockchain solutions has performed one of most successful traditional financial funding rounds in blockchain sphere.