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.
Cryptolocator, an international marketplace for Ethereum trading, will be launched in the middle of October 2017.
AdEx and EloPlay – mutual collaboration to present an ad module that will offer a source of revenue for all of the participants in the advertising marketplace.
The new exchange is promised to drive the growth of security token market by changing the trade of virtual tokens issued via Initial Coin Offerings.
Mainstream chat app Kik raised nearly $100M for its new Kin token to be used by messenger’s 15 million audience as the primary transaction currency.
Decentralized news platform Snip announces its partnership with Bancor and subsequent joining of Bancor Decentralized Liquidity Network.
Famous football player Hal Robson-Kanu joins the list of famous crypto enthusiasts investing into the Russian real industrial sector.
Forget about the new iPhone X, Sirin Labs intends to create the first blockchain smartphone.
The Port of Rotterdam Authority has collaborated with the Municipality of Rotterdam to launch a field lab for blockchain research.
The platform is expected to become the largest digital currency exchange in South Korea, allowing investors to trade in more than 110 cryptocurrencies.
It seems, that bitcoin finally gains momentum after the succession of equally infamous and disturbing news about China’s decision to ban ICOs and shut down all bitcoin trading.
Japan’s financial watchdog announced its plans to monitor virtual currency exchanges operating in the country.
According to James Altucher, experienced trader and venture capitalist, Amazon will start accepting Bitcoin as a new method of payment as early as in October.
Russia-based international farming network LavkaLavka has announced a crowdsale of its blockchain platform BioCoin starting on September 25.
Eloplay introduces “Smart Tournaments” with decentralized prize pools working on the smart contracts technology, which allow players and brands to organize esports tournaments.
The new cryptocurrency startup aims to change traditional mining by using one of the most environment-friendly and efficient source of energy.