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.
Here’s the list of blockchain conferences that will take place this December.
BitGo, a Blockchain-based security company, has raised $42.5 million during the Series B funding round amidst futures contracts going live.
Bitcoin backers believe the launch of bitcoin futures will encourage cryptocurrency adoption, bringing transparency and legitimacy to the market.
Europe’s largest Bitcoin ATM provider – Cointed – is working along with chip-maker NVIDIA to promote green mining activities for virtual digital currencies.
Having raised over $5 million through its crowdsale, decentralized sports platform SportyFi is all set to launch its SPF token on different exchanges.
Bitcoin market is again flooded with huge amount of investor orders as the CBOE’s futures contracts go live.
Gold dealer APMEX announced that payments in Bitcoin would be accepted by integrating BitPay into its website.
SIRIN LABS, the developer of SOLARIN struggles to raise blockchain awareness through partnership with the world’s football legend, Lionel Messi. The company has signed up Barcelona star as its brand ambassador.
The rise of digital marketplaces has changed the way the retail industry is operated. Whereas before it was retail giants such as Walmart who used to dominate the market, now it falls short with a market capitalization value of $244 billion behind Amazon’s whopping $474 billion.
The technology associated with blockhain has been tested for more than 2 years to prove that it meets all of the requirements of Australia’s stock market and is now ready to become the one of wide use.
With the new GOLDEA platform, investors will be able to take part in gold mining projects to exploit perspective gold properties all over the world.
In the last couple of years, there has been a huge drive to apply the possibilities of blockchain technology to the many industries it could be used in.
A decentralized trading platform that will extend even past cryptocurrencies.
Bitcoin rallies being at threat of great collapse with around 50% correction; Ether is also in correction phase with a short term target at $536; Monero rallies with its major highs still ahead; Litecoin is trading sideways over a range of $100-$33.60.
Investing in ICOs does not come without risks but it is important to understand these risks and don’t let them force you into overthinking.