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.
Educational blockchain company ODEM.io announces the hiring of Michael Zargham Ph.D., a top rank specialist in data-driven decision systems, as their Chief Systems Engineer.
For the first time ever a major global sporting team officially collaborates with a crypto startup – CashBet becomes Arsenal’s exclusive blockchain-based partner.
At the World Economic Forum 2018, some of the prominent personalities discuss the blockchain technology and cryptocurrencies and how it can shape the global economy in future.
On January 24, Bitcoin’s new hard fork named Bitcoin Atom (BCA) took place at block number 505888.
Both these companies are eager to use Ripple’s xRapid payments solution that is designed to provide on-demand liquidity.
The social network that has already raised over $2.8 million continues attracts users with the opportunity to get rewards for ads.
Cellular data competitor BlockMesh to compete directly with cellular data providers with cost-free communications networks.
Blockchain-based platform JoyToken introduces its API protocol for game development as a solution to both major issues of the gambling industry – game transparancy and game security.
PlusCoin, a decentralised cashback platform based on Ethereum system, offers an opportunity for both advertisers and shoppers to benefit from purchasing goods online.
Bitcoin Atom hard fork will bring several new features to the dais, including atomic and lightning swaps, hybrid consensus model and much more.
Repay.me, the first ever crypto-centric online shopping platform with its own coin is about to enter the world.
Looking for new solutions to wow the digital advertising space, blockchain-based ad exchange AdEx joined the IAB TechLab’s Blockchain Working Group.
Stripe stops handling bitcoin on April 23 due to transaction-connected prolems. However, the company stays optimistic about other cryptocurrencies, planning to add support for other coins in the future.
While some companies are complaining about their unsatisfactory performance in 2017, digital exchange Coinbase revenue outperformed all the expectations.
The blockchain technology may contribute significantly to the project that tries to solve the problem of proving the identity, especially with the support from tech industry giants.