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 ethereum virtual machine (EVM) gets its first decompiler able to revert the code of smart contracts into checkable source code.
Ethereum blockchain is expected to automate all stages of bookings and improve flight tickets sale.
Mayweather says he expects to make a “ton of money” from the crowdfunding campaign that will start at the very beginning of August.
The team behind the project intends to transform current lottery games by offering a platform for fair and trustless lotteries using the blockchain technology.
SunContact moves towards the third project’s milestone having raised over 8123 ETH ($1.66 million) by the press time.
Tim Draper calls the SEC decision preemptory and too far-reaching and says regulation for the sale of coins to investors needs to be light.
The man is accused of laundering at least $4 billion using bitcoin and is also the chief suspect in the hack of Mt.Gox exchange.
The Wall Street market analyst predicts a huge upturn for the digital currency in the near future, owing to a number of reasons, including legalization of bitcoin in China and South Korea.
Lasting BTC-E’s breakdowm makes Reddit users assume that exchange might have been hacked.
The move means BitPay wallet users can now fill up their wallet balances directly from in-app exchange connections.
Upcoming August 1 Bitcoin split causes seven percent drop in BTC and ETH prices to below $2,500 and $200 correspondingly.
Global Advisors intends to offer investors a reliable fiduciary responsible for making well-considered investment decisions.
The U.S. Commodity Futures Commission (CFTC) makes LedgerX the first federally regulated bitcoin options exchange and clearing house authorized to list and clear bitcoin options for the institutional market.
Dubai plans to utilize the Blockchain technology for all its transactions by year 2020 through the use of Dubai Blockchain Strategy.
The company aims to transform the healthcare sector by offering a secure platform that will let people better manage and share their health data.