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 companies are planning to utilize the blockchain technology to improve transparency and security of supply chain networks and trade finance.
Meet Viberate – a crowdsourced live music ecosystem that will revolutionize the global market.
During November 2017, a block between 1MB and 2MB in size will be generated by Bitcoin miners in a move to increase network capacity.
Zen aims to revolutionize public blockchain creating an open marketplace for users to operate various types of financial instruments.
Falcon Private Bank has expanded the range of cryptocurrencies its clients can hold in their portfolios by adding Ether, Litecoin and Bitcoin Cash.
The company announced a $25 million ‘Signature Fund’ to build a decentralized version of the Internet, where users will own their own data and apps will live locally on their devices.
Governments tend to use the innovative Blockchain technology in many different ways. Now Ukraine adopts blockchain startup Propy to revolutionize real estate.
AdEx – NEO partnership is expected to increase the efficiency of the advertising network and to push the development of Smart Economy further.
Blockstream will take bitcoin partway to the celestial body with the help of a satellite.
Universa offers users the cheapest, fastest and most secure way to create smart contracts and applications based on its blockchain.
One of the oldest cryptocurrency exchanges has specified details about their new IOU cryptographic token.
Taking into consideration the continuing rise of Bitcoin price, surrounded by a great hype, experts set the price targets of $4827 – $7500 for the currency.
The first stage of its GFL ICO will begin on August 15 th on the Waves platform.
GoldMint launches the new token which takes all of the security advantages of its yellow metal counterpart, and is stable, transparent and non-volatile.
Given the impressive growth rate bitcoin has been showing these days, the price of the digital currency will likely surpass a $5,000 level in the near future.