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.
Following a crackdown on bitcoin exchanges earlier this year, Chinese lawmakers are now considering suspending all virtual currency offerings in the country.
Crystal Clear Tokens are to bring revolution to the existing system of providing services by addressing stumbling blocks of both – customers and performers.
Designed to replace paper documents and streamline business workflow, the new blockchain platform offers some major benefits if compared to ethereum and bitcoin.
With a new blockchain-based platform, traders will be able to monitor latest market movements and use accumulated data to make right investment decisions.
Bitcoin exchange BTC-e is planning the platform’s re-launch in September, cites pressure from US government as a reason for the recent shutdown.
Developers are going to implement the second upgrade of the Ethereum blockchain next month, introducing significant improvements to the current network.
Cheaper, better, faster travel: difficulties and advantages of implementing blockchain technology in travel industry. What changes should we wait for?
Developers behind Lightning Labs released the 0.3 alpha version of the Lightning Network Daemon, offering a number of new features including Bitcoin & Litecoin swaps.
Decentralized music database startup Viberate launches Venues and Events to accompany already published 120.000+ musician profiles.
Built on ethereum blockchain, Aimwise is expected to reduce investment risks for ICO contributors and facilitate the selection of top quality projects.
Estonia plans to launch the world’s first government-supported cryptocurrency called ‘Estcoin’ through ICO.
Utilising the premise of a peer-to-peer marketplace, Qvolta believes that a simplified cryptocurrency exchange can happen globally.
The proliferation of Blockchain-based commodities this year stems from an industry hungry for value. Attempting to harness this value, BMChain is looking to find it in any potential user by monetizing the benefits they bring to the market as a result of their innate skills.
China’s largest private conglomerate invests in Shanghai Distributed Technologies Co Ltd, the company behind the Onchain project, to create a “universal platform” built on the tech.
Processed block 481,824 brought debates over the code upgrade to an official close, enabling users to take advantage of the long-promised SegWit technology.