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.
Bitcoin is currently trading at crucial levels from where it can finally make-it or break-it. Experts opinion still remains divided.
Ripple has collaborated with two banks and three fast-growing remittance providers who are willing to adopt the blockchain technology for instant payments at reduced costs.
The founder of Biocoin, a cryptocurrency empowering an eco-farming network LavkaLavka, Boris Akimov pioneers to explore a new application for the blockchain technology.
Bitfinex and Coinbase now support SegWit. Bitcoin investors can expect to see lower fees and faster processing times, but please remember that SegWit has been implemented for Bitcoin only, and not Bitcoin Cash.
Major hack in Japan has become a reason of considering a necessity to create a new entity that will regulate the cryptocurrency industry in the country.
TriForce Tokens has started its highly anticipated token presale with a base rate of 1 ETH = 6,000 FORCE and a generous 25% contributor bonus.
MinexSystems reveals its newly updated 2018 development roadmap listing crypto-enabled debit cards, atomic swaps, Green Algo and other features.
Venezuela President Nicolas Maduro makes boisterous claims of raising $750 million in just a few hours, without backing it with sufficient evidence.
Built on the advanced AI and blockchain technology, the new platform aims to revolutionize the healthcare industry, achieving better patient care.
Blockchain-based Islamic Bank Hada Dbank has partnered with renowned VC investor David Drake and Soho Loft Media Group.
The new cryptocurrency has faced lots of resistance but finally made its way through – the 82.4 million tokens are already available.
Bitcoin Cash Party sponsored and held by CoinPoint was a huge success, having hit the goals of both business and pleasure.
AI unites with blockchain tech to turn data into genuine, real-world AI solutions by connecting all parties and integrating all AI-based stages of app development and deployment in a single product.
Vitalik Buterin, the co-founder of the Ethereum blockchain, asked people not to throw their life savings into virtual coins and warned about slammers offering cryptocurrency on Twitter.
Israel is becoming ingrained more and more deeply into crypto ecosystem. Cryptos will be subject to the capital gains tax, decides the Tax Authority.