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.
Top 15 cryptocurrencies by market cap are seen correcting by 10% just over last 24 hours.
bitFlyer will be the only licensed exchange in the continent that will allow users to trade with Japan.
The startup has announced the release of the world’s first secure, public, and decentralized database, provoking an upturn in the value of its native token.
The payment solution for e-commerce hopes to attract investors with the fixed transaction fee of 0.5% for over 100 major cryptocurrencies.
Having raised $10 million via its ICO, Karma, a global decentralized, peer-to-peer, lending platform, continues building a global economy-of-trust by making its KRM token available on the two leading exchange platforms.
IMF has also cautioned against the associated ‘risks’ with the growing prices of cryptocurrencies and asks countries to have a unanimous policy framework.
Sometimes to create an innovative solution it is necessary to combine the best sides of something already existing. And the hybrid platform EXPREAD can prove it.
Cryptocurrency exchanges will be now required to pay corporate and local income tax on their yearly reported earning.
Today the fintech startup Streamity launches its pre-ICO for StreamDesk service, the cryptocurrency-fiat money exchange without intermediaries.
Bitcoin scalability gets a push as Lightning Network, a promising solution which debuted on the Bitcoin mainnet, gains momentum.
Aitheon, a startup specializing on Artificial Intelligence, is launching a new platform, which represents symbiosis of humans, robots and AI with blockchain technology. Andrew Archer, Aitheon’s founder and CEO, was interviewed by Coinspeaker.
Velix ID, a blockchain-based ID security company, is to solve the problems of global identity verification crisis by developing its new ID verification platform. The token sale begins on January 27 and will last until February 26.
OKCoin is speeding up the launch process and already holds a Korean website accepting pre-orders for different cryptocurrencies.
A dedicated mobile application for players’ communication and collaboration Plink has collaborated with CRYCASH, a decentralized ecosystem of custom-tailored products for gamers, to allow its users an opportunity of monetizing their gaming time.
The biggest ICO ever becomes a great bait: scammers managed to make millions of dollars with the help of fake websites.