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.
Zilliqa, the world’s first high-throughput public blockchain platform, has just welcomed Alexander Lipton and Stuart Prior onboard its team.
21 Inc rebranded its social network into Earn.com aimed to earn digital money online.
The major marketplace announced today that it plans to introduce bitcoin futures by the end of the year, pending all relevant regulatory review periods.
Bill Miller, a legendary Investor, mints millions by investing 30% of his total hedge fund assets into Bitcoins.
Blockchain-based startup CoinLancer aims to reinvent the freelancing industry which is worth an estimated $3.2B by providing a safe, secure, and transparent platform that will empower freelancing opportunities.
First Crypto ETF, also known as the world’s first cryptocurrency exchange traded fund (ETF), announced the launch of its unique platform, using blockchain technology and company’s own proprietary authorized engine, which perfectly manages digital assets.
Skycoin, a self-proclaimed third generation cryptocurrency, is designed to implement Satoshi’s original vision and fix the problems with Bitcoin. By doing so, it is aiming to become the next big thing in the cryptocurrency world.
Cryptocurrency payments platform UTRUST is campaigning around the world to let ‘unbanked’ and ‘underbanked’ people gain access to financial services.
Decentralized platform Xenio wants to change the gaming industry with the help of its own network, based on a code fork of Ethereum blockchain.
The Central Bank of Vietnam issues a complete ban on using Bitcoin as a payment method in the country. Adapters of Bitcoin will have to face criminal prosecution with a penalty as high as 200 million dongs (nearly $9,000).
B2Broker launches the first official B2B cryptocurrency exchange-aggregator to connect at least 5% of the market of Forex/DMA and Stock brokers and give them the opportunity to provide their clients with the trading in cryptocurrencies.
Bitcoin prices surge to a new all-time high above $6250 amid speculations of China lifting ban on local exchanges and resuming trading operations.
A British company that has been investing in internet and information businesses is having its best day on record. On-line PLC jumped as much as 394 percent on Friday after announcing plans to change its name to On-line Blockchain PLC.
An Australian-Chinese project is changing the way Blockchains talk to each other. Will HCash be the currency of currencies?
London crypto-payments company Wirex has just announced its partnership with Japanese SBI Holdings. The joint venture aims to provide Japanese customers with bitcoin and cryptocurrency payment cards.