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.
FTC asked to revise the adhesion contracts as they were causing problems for the user in withdrawals thereby largely compromising the consumer’s interests.
The ability to afford one of the world’s most expensive vehicles doesn’t only indicate high status of bitcoin holders, but shows the cryptocurrency has real-world value.
While high volatility and never-closing markets may make Bitcoin trading tough, Automated Bitcoin Trading is providing a working solution for maximizing the returns in such circumstances – presumes our guest author, Susan Tindol.
The feud between Buterin and Wright took out in the open during a Q&A session at Deconomy where both criticized each other with some hard-hitting comments.
Amber Baldet, a JPMorgan Chase executive who leads the bank’s blockchain team, is leaving the company to start a business of her own.
Despite some negative trends noticed by experts, Bitcoin continues to gain a momentum. Over $6 trillion has been transferred already across its network.
Beijing-based Bitcoin mining company has recently confirmed the launch of new ASIC chips Antminer E3. The chips are set to ship in July this year.
A highly rated rewards platform BitRewards invites invertors to join Whitelist and therefore contribute to a cutting-edge loyalty business model that makes merchants and customers friends again.
All cryptocurrency exchanges in Australia now must comply with the new regulation developed to prevent money laundering and criminal attacks.
DataBroker DAO has announced its collaboration with AllThingsTalk to provide a seamless onboarding experience for its ecosystem.
Coincheck which was in the middle of the $530 million scandal in the beginning of this year has a chance to restore its positions as one of the biggest Japanese brokerages plans to buy the cryptocurrency exchange.
Do you know where you would go in case you had some Bitcoins? Have a look at 6 amazing travels the lucky guy who won 37 Bitcoins at FortuneJack can afford now.
Robinhood Financial announced launch of crypto trading with no fees in four US states: California, Massachusetts, Missouri, and Montana. The list is to be extended later.
John McAfee is believed to be the most powerful social media influencer in the sphere of cryptocurrencies. One his tweet promoting ICOs costs $105,000.
Matonis believes that we are now entering the “post-legal tender age … that isn’t driven by central banks” and decentralized cryptocurrencies like Bitcoin will cater to this shift.