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 participants of the competition will have the opportunity to win EUR 25,000 and take part in the three-month “SpinLab – The HHL Accelerator” program.
Jeremy Liew and Peter Smith predict a great future for Bitcoin in their latest research.
The world’s major music rights societies have partnered with IBM to develop a new blockchain-based solution for protecting intellectual property rights.
South Korean information technology giant presented a new distributed ledger solution, aiming to promote the adoption of the blockchain technology.
Starting today, Bic Camera and Recruit Lifestyle will cooperate with bitcoin exchanges to add cryptocurrency payment option.
The controversial internet businessman is preparing to roll out a new platform to enable content creators earn bitcoins for sharing their files.
Qrator will give the understanding of Attention Economy that puts creators and curators on top of the Internet’s monetary food chain.
As soon as the 30-minute process is completed, all 100% of currently issued and outstanding BFX tokens will be redeemed.
The company not only described the potential use cases of the blockchain technology for banks, but also identified the main issues impeding its wider adoption in the sector.
The recognition of Bitcoin in Japan is good news for the global cryptocurrency ecosystem as it may drive demand and price.
The France-based blockchain startup is closing its new funding round, which is one of the largest investments in a European blockchain startup so far.
The blockchain company has developed a new solution in partnership with Thales to enable secure application of the distributed ledger technology.
Bitcoin exchange-traded funds are unlikely to be introduced to the stock market in the near future, as the SEC denies bitcoin ETF for the second time in a month.
All the major steps in a crude oil transaction will be kept on the blockchain, which will allow for more transparency, enhanced security, and efficiency.
TaaS will offer a new way to participate in and benefit from capital raising, fund management, and cryptocurrency investing, all with full auditing transparency to investors.