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.
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The gig economy is thriving, becoming the single largest sector in the ever-evolving freelance industry. ConnectJob decentralized platform keeps up to date, offering intermediary-free job search ecosystem.
Blockchain-Platform-as-a-Service (BPaaS) for enterprises, Morpheus Labs, has successfully raised 6,500 ETH from its private sales.
The pilot program of the platform which allows payment providers to minimize liquidity costs is expected to be launched by the FLEETCOR-owned company.
As a part of the agency’s months-long probe into the nascent crypto fundraising mechanism, SEC has subpoenaed the online retailer Overstock and requested for additional information about the company’s ongoing $250 million ICO for its tZero alternative trading system.
Square, digital payments company, continues buying and selling Bitcoin. Experts believe that one day the firm could launch a cryptocurrency exchange.
CFTC though has mentioned that staff members won’t be allowed in any decision-making process involving cryptocurrencies to avoid conflict of interest.
The platform is a win-win solution for both customers and business owners: it offers a convenient and simple way of using the cryptocurrency which does not require any special equipment.
With a new blockchain platform, both users and businesses will be able to fulfill their day-to-day activities right through a smartphone application while receiving some extra goodies.
Soon after the full-SegWit support in the Bitcoin software update, the Bitcoin transactions using SegWit have doubled in just past two days.
Fabric Token platform, which enables any individual or business create their own Smart Contract, started TGE raising $1 Million during less than 24 hours.
A decentralized Blockchain Virtual Reality platform ImmVRse is taking steps to gather the defragmented VR market at one place.
Shipowner.io, a new Ethereum-based decentralized shipping platform, is working towards greater accessibility and efficiency in the business.
Bob Fitzsimmons, expert in the sphere of futures, managing director and head of Wedbush Futures, shares his perspective on Bitcoin futures and digital-market potential.