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.
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.
LAToken platform, a pioneer of crypto economy expansion, tokenizes assets and makes them tradable enabling anyone to unlock the value of illiquid assets.
ASUS has announced release of new motherboard B250 Expert Mining with support for Up to 19 Graphics Cards aimed to cryptocurrency mining.
Bitcoin’s all-time high rally seems to be over with the currency loosing $155 in value over August 21-22, Bitcoin Cash crashed down after reaching a record high during the weekend, Ethereum climbed to near two-month high.
Let’s see how the blockchain technology can make impact on the payments industry.
The virtual currency has reached the highest level in its history, owing to the sharp growth in trading volume and an expected launch on Bithumb.
Foundation of the BitFlyer’s entity in the US marks the first expansion of the leading Japanese exchange into a new, regulation-challenging market.
The new cryptocurrency has more than doubled in value during the last few days and keeps getting more support from the cryptocurrency community.
The ICO of the year is just coming and read why use should take part in it!
The price of bitcoin maintained flat on Friday, while Bitcoin Cash has surged beyond $500 amid the growing chances of another bitcoin split.
The company intends to lead the global currency transfer market with a new service that will revolutionize the worldwide multiple-currency transfers and conversions.
Blockchain’s adoption of the Ethereum makes it the first alternate cryptocurrency for the company to add support to since its creation in 2011.
Vitalik Buterin and Joseph Poon join efforts to address Ethereum’s scalability issues by developing Plasma scaling solution to be compliant with the OmiseGo.