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 team of Narbonne has analyzed the most successful cryptobanks from Polybius and Bankera to Cryptopay and Crypterium.
Bitcoin (BTC) price can’t break $6000 barrier again, while Bitcoin Gold (BTG) is trading relatively low, above $120.
The most popular cryptocurrency is booming exponentially after its technical infrastructure and application frame (particularly in blockchain applications) have been recognized across a wide range of industries and global organizations, despite different attitudes toward Bitcoin and its applications, and strict restrictions of the cryptocurrency trading in some countries.
During its Q3 2017 Financial Results Teleconference, Amazon didn’t confirm that it planned to introduce Bitcoin payments.
Peter Thiel, the billionaire co-founder of PayPal and early Facebook investor, make some comments on Bitcoin in an interview on Fox Business Network’s Mornings.
INS plans to change the grocery market ecosystem by implementing blockchain technology as a solution to the most acute problems.
While the cryptoworld is disturbed about ICO bans, regulatory actions, and other uncomfortable innovations, we decided to reсall the project which lets you wait out the storm.
Blockchain startup Oyster wants to change advertisement and internet privacy industries.
Covesting, a crowd-based crypto-asset managing company, wants to help investors from around the world enjoy professional asset management services, by bringing a copy-trading platform to the digital currency markets.
The Centers for Disease Control and Prevention and IBM Watson Health will collaborate to apply blockchain technology to harness data.
“I wish I were affiliated with CommerceBlock,” laments Bitcoin Foundation director Jon Matonis in a recent tweet.
South Korea’s Kakao Corp. announced providing beta period for cryptocurrency exchange, called Upbit, as results of partneship with
Hong Kong and Singapore have committed to work on a strategic project on trade finance cross-border infrastructure, based on distributed ledger technology (DLT).
Based on the blockchain technology, ‘Smart contracts’help to create transparent contract procedures, offer high-end security with end-to-end encryption, reduce time delays in contract execution and help to achieve faster payment transactions. Take a look at some of the best ICO Platform for managing Smart Contracts.
Russian President Vladimir Putin obliged Russian government and the Bank of Russia to prepare legislation on ICO and cryptocurrencies by July 2018.