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 rough decline cryptocurrencies’ prices accompanied by total market capitalization drop now seems to be over as the situation improves quickly.
EU financial enterprise Worldcore, previously known as non-blockchain, is about to start its own ICO on October 14, 2017 aiming to raise up to $100 million for the development and promotion of the digital bank’s blockchain platform.
The city-state of Singapore is likely to become favored ICO destination for blockchain startups following the initial coin offerings ban issued in China.
Viberate has successfully completed its crowdsdale. $ 10.7 million in 4 minutes and 42 seconds!
Chinese authorities are reportedly going to impose further restrictions on bitcoin and other digital currencies, following a recent ban on initial coin offerings.
According to a joint venture agreement, Stargroup will update its ATMs to enable users instantly convert, withdraw, and trade the digital currency.
The first global blockchain-based video hosting TOP intends to revolutionize the established mechanism of video industry and invites investors to participate in its own ICO starting on September 23, 2017.
Bitcoin drops under $4000 after its historical maximum of $5000 reached few days ago, following the decision of The People’s Bank of China to ban ICOs.
Payments startup UTRUST raised over $1.5M in first 90 minutes of its pre-ICO.
A reality television star and entrepreneur is planning to invest in a blockchain startup backed by a man who was earlier accused of domestic violence.
A significant Bitcoin drop by 13.6% has occured today after its historical maximum $4975 on September 2.
The People’s Bank of China (PBoC) banned initial coin offerings (ICOs) declaring them illegal, and asked all related fundraising activity to be halted immediately.
Beijing-based Bitmain receives solid investments and now is planning to get into the deep learning arms race producing chips for artificial intelligence.
The price of the digital currency continues to show strong growth and has achieved another historic record, due to the ongoing rise in trading volume.
Paragon believes that Blockchain technology can be the driving force of global cannabis legalization.