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 new project attracted attention of the community because of its multidimensional approach: the platform is not only eliminating fraud, it also creates original games, engages third parties and offers white label solutions.
Kvantor platform seems to be on the verge of revolutionizing banking sector, providing its users the potential for complete economic freedom.
Security of data storage is a true stumbling block of today’s digital century. Fortunately, Casper API, and a number of other startups propose the solution.
As soon as London Block Exchange had added a powerful Bitcoin derivative coin to its terminals, the price of Bitcoin Cash bounced up more than 11% and it continues to go upwards while outpacing other major cryptocurrencies.
Despite all the rumors, the U.K. banking giant Barclays is not planning to launch its own cryptocurrency trading desk in the nearest future.
A group of the world’s leading car makers have formed the Mobility Open Blockchain Initiative – a consortium for applying blockchain technology in the automotive industry.
Blockchain-based startup Image Protect is working on a global registry for digital content that will facilitate the authentication of users and link intellectual property so as to enable universal access to the content.
After joining other 120 financial institutions in RippleNet, BankDhofar has become the first Oman bank in this global blockchain network.
Sharding is the much-awaited scalability solution for the Ethereum blockchain network, designed to help process more transactions in a given period of time at reduced costs.
Coinbase will be offering its block trading facility on its professional trading platform GDAX which will allow institutional investors to trade digital currencies in bulk.
While Arizona moves on being an example of crypto-legislation development, OPEN Platform works to address cocurrent hands-on issues.
Given how much ISPs and websites know about us, it’s clear that the biggest problem we face with the current internet is privacy. Fortunately, Skywire introduces the solution.
Slate, a blockchain-based entertainment utility protocol, introduces whole range of solutions to shake up entertainment and media industry.
Given the explosion of the cryptosphere, Coinbase’s valuations have soared by 500% during the last eight months.
Top ranking global real estate platform DirectHome adopts blockchain tech to become the 1st and only in offering cashback program.