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.
The perceived reluctance by government and regulatory bodies towards cryptocurrencies is largely due to the relative anonymity that surrounds the entire crypto ecosystem among other reasons.
Post a wild rally of $4k in a matter of just 48-hours, Bitcoin enters the correction zone.
Virtual money bidding portal Bid4CC breaks ground as the world’s first cryptocurrency auction site.
In just 24-hours, Bitcoin surges by 20% or 2.7K and hits a new all-time high above $15,000.
Lightning developers have released the first version of Lightning Protocol and now are working further for mainnet beta implementation.
Caviar, a token which seeks to reduce investment volatility and promises higher returns by re-allocating funds between crypto and real estate markets, welcomes Mikhail Savchenko in its advisory board.
CNT Future provides game-changing technology that will allow users to generate coins through kinetic energy via their smartphones.
The conventional approach of financial institutions has been undergoing continuous reform because of the blockchain technology. What is this process: creating of the future or just a popular trend?
Next year the commonwealth Bank of Australia will issue a bond on the blockchain, considering it a very interesting module for doing business in unusual ways.
According to the startup, the new project is expected to improve the cryptocurrency trading, making the process more secure and less challenging.
Collectible Card Games will be upgraded by decentralized Nova Token Platform, and sales of Nova Tokens will start on December 11,2017.
As Bitcoin continues to touch new highs, IOTA emerges as the fourth largest cryptocurrency by market cap.
Mobile banking app Revolut adds Ether and Litecoin trading to its application-based service.
Talla launches ICO for its BotChain network, a critical product that is expected to become necessary for every entity working on AI and AI-powered products.
The EXMO platform is to provide margin loan services, with EXO token holders monthly receiving half of the revenue generated from the lending activities.