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 IRC is seeking a narrower focus in its investigation of digital currency startup Coinbase
With the new cryptocurrency trading platform, investors will be able to increase their revenues, as well as improve their investment knowledge.
Blockchain startup Bitclave launches “Bitclave Active Search Ecosystem” (BASE) comprising advertising application, new search ecosystem and trustworthy cybersecurity platform.
Blockchain is expected to digitize the paper-based guarantee process, reduce possibility of fraud and improve efficiency.
Mizuho has completed a trade finance transaction between Australia and Japan, digitising documents’ dissemination process using a blockchain.
Suncontract creates a peer-to-peer marketplace for renewable energy.
Sheng Songcheng doubts if bitcoin can become a means of exchange that could meet modern economic development needs.
Sibcoin, a project developing the similarly-named cryptocurrency, decides to integrate its coin in the Moneypolo’s services.
The LakeBanker project is expected to leverage Blockchain to offer free banking services for everyone and to deliver more advanced financial services, including access to cryptocurrencies, at a significantly lower cost.
An upstart innovator pegged to be the hottest ICO this summer, which some say could break the 9-digit mark, made history when it launched pre-ICO options.
The banks will be mainly involved in testing and validating the application to evaluate how the technology scales and performs.
One of the world’s largest Bitcoin and Ether cryptocurrencies exchanges Bithumb has recently been hacked, resulting in loss of more than $1 Million in cryptocurrencies.
Many experts share the opinion that the cryptocurrency market will keep on growing within next months.
The team of the researchers at the University of Sydney believe the new Blockchain system has a potential for revolutionizing the global economy.
![History of Ethereum: How It’s Set to Overtake Bitcoin by 2018 [Infographic]](https://www.coinspeaker.com/wp-content/uploads/2017/07/ethereum-history-infographic-thumb.jpg)
Given the current pace of development, Ethereum could eventually become the dominant virtual currency.