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 Taklimakan Network launches pre-ICO for the platform including (but not limited to) internal payment systems, expert rating assignment, commenting and searching features.
Using ethereum blockchain technology, the new project is set to transform a wide range of markets, including traditional finance and investment, micro-financing, and real estate.
Qilin.Market disrupted $2 trillion global e-commerce market, revealing a new approach to on-line shopping based on smart contracts.
For the first time ever the price of Bitcoin has crosses the $12,000 mark.
The Tokyo Financial Exchange plans to list Bitcoin Futures trading contracts. In order to succeed in implementing this idea, a working party has been created for studying cryptocurrencies.
Russia-based startup Mining Solutions offers a number of promising projects, which are expected to become the solution to most problems faced in our self-digitizing society.
With the use of the ethereum technology, the company wants to improve the current derivatives market, making it more transparent and secure.
Recreational and survival community Fortitude Ranch will launch an Initial MemberCoin Offering (IMO), a market shift for ICOs funding existing companies applying blockchain technology.
EthereCash, is a three prong financial platform, wants to eliminate borders, intermediaries and prejudices, providing access to bank services for everybody. It makes all the tedious and lengthy bank operations simple, transparent and secure.
The real competitor for Bitcoin is not Ethereum, but Litecoin, which gained 19.5% during last 24 hours, with its value being pushed past $100.
The multinational cryptocurrency project officially becomes incorporated as a cooperative society and expandes the European crypto-friendly environment.
To counter the U.S. led financial sanctions and the collapse of its own currency ‘bolivar’, Venezuelan President Nicolas Maduro has announced the launch of its new state-owned cryptocurrency ‘Petro’.
By eliminating the “middle man” using blockchain technology, BetterBetting aims to build sportsbook clients that operate with no human or business entity between betting pairs.
Bankera platform aims to comprise both traditional and digital banking, by creating low-cost in-house exchange platform, operating fiat and cryptocurrencies.
Though the SegWit2x cancellation was another prominent example of the strengths of peer-to-peer networks in terms of their more democratic governance and participation structures, it empowered Bitcoin Cash to reap the rewards of its failure to launch.