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.
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.
Read why the stabilization of the ICO market should be the top priority for many companies and learn wich strategy will allow the ICO technology to take the lead in the very near future.
The undefeated boxing champion is to make waves in the cryprocurrency bug as he announces another ICO.
By using machine learning technology and collective intelligence, the platform is expected to address the challenges of financial forecasting.
Herosphere.gg, the developer of the popular online esports prediction platform, makes public its intention to issue the ethereum based HEROcoin in mid-September.
Today the combined value of all publicly traded cryptocurrencies surpassed $150 billion setting a new record.
A software tool helps the IRS identify people who hide their wealth, making some bitcoin owners uneasy as they lose their anonymity.
With the new application, the company wants to simplify everyday usage of digital currencies as well as expand general knowledge of the technology.
Payments startup UTRUST announced its plans to implement the world’s first cryptocurrency consumer protections into its platform.
The companies announced they are going to explore how the blockchain technology can be used to increase global food safety and prevent illnesses caused by contaminated products.