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 largest funding round in the European blockchain and data security ecosystem will allow Stratumn to focus on research, product design, and business development.
The Colu team decided to open source the code as it wants to encourage more developers to work on Colored Coins.
The state’s governor has signed the law aimed to validate the use of the blockchain technology in Nevada.
Russian federal entity pointed out lottery-related nature of TrueFlip while lottery activities are strictly forbidden across the entire Russia.
Bitcoin has recently been the focus of media and investors attention as both a long-term safe haven asset and digital currency.
All the funds raised will be directed to the creation of Polybius Bank, the first digital bank that will combine features of modern banking, IoT, Big Data and Blockchain-based technologies.
The discussion between the President and Ethereum co-founder focused on the possible use of blockchain technologies in the Russian Federation.
Now, people can securely lend Ethereum, which is expected to boom cryptocurrency lending in the next few years.
How does an investor determine the value of a digital asset when there is often little-to-no intrinsic value that is measurable there yet? Here’s one possible method.
The exchanges decided to resume withdrawals as the People’s Bank of China made it clear they are not forbidden.
The CryptoPing project aims to raise 1000 BTC to launch an effective service and attract new followers to the network.
The fact that two of three leading Chinese exchanges have started Ethereum trading allows suggesting that the third one is upcoming.
Walmart filed a patent application to develop a blockchain processing device to track, register and authenticate items of the payload moving through a supply chain.
A trade for $327 was recorded on the Bid around 45 minutes after Ethereum debuted in mainland China, with buying aggressive across the board.
A recent reversal in the return premium of ETH vs. ETC due to buying by Bitcoin holders means that ETC now looks exceptionally cheap.