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.
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.
The crucial August 1 is getting closer so it is high time to clear out why the whole Bitcoin community has split.
The startup will provide a new blockchain-based platform that is claimed to solve major problems of cryptocurrency crowdfunding, such as fraud and inaccessibility.
The bill legalizes the trading of stocks on the blockchain paving the way to the technology wider adoption.
Borsa Italiana joined the efforts with IBM to digitize shareholding structures, facilitate cap table management and strengthen investor confidence.
AntShares, China’s first open-source blockchain platform, announces their development plans, including rebranding of the platform from Antshares to NEO, entering into new partnerships and introducing of smart contracts 2.0.
TenX has developed an app that serves as a digital wallet connected to the Visa card.
Thirteen Japanese bitcoin exchanges together with over 5,000 retail stores and restaurants are likely to halt bitcoin transactions on August 1.
Blocklancer hopes to create “Distributed Autonomous Job Market”, a place for customers and independent contractors to find each other and cooperate.
The company aims to become the first next-generation cryptocurrency network to allow users engage with other investors and exchange investing ideas.
The activation of Segregated Witness is still in question.
We are pleased to announce a new partnership with Po.et, a project aimed at helping its partners to solve major issues faced by the digital media industry.
ETHLend, a blockchain startup that introduced decentralized lending few months ago is about to deliver lending without the need to use a collateral.
The start of the ICOs of three interesting projects in the sphere of logistics means that the interest of experienced teams in using the blockchain technology has increased to the level of project realisation.