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.
While bitcoin price continues to grow, IT giant is preparing to add native support for cruptocurrency format on its Microsoft Excel program in 2017.
Greenwich Associates considers the blockchain to be one of the top market structure trends to develop in 2017.
Bitcoin offers instant and anonymous transactions, which made the cryptocurrency gain increased popularity in 2016.
Bitcoin is continuing its end-of-the-year bull rally, with the cryptocurrency price demonstrating its best performance over the last three years.
Hyperledger Project has not only exceeded 100 members for less than a year, but has met significant development milestones in 2016.
The IRS responds to the motion of Coinbase’s user asking the court to allow the tax agency proceeding with its “John Doe” summons.
Bitcoin experts emphasize a correlation between the financial problems in India and a bitcoin price rise.
iEx.ec demonstrates the potential of the internet of the future by introducing the advantages of its first Blockchain-based, fully distributed cloud computing platform.
Bitcoin shows a steady growth these days having more than doubled its price since the beginning of the year.
The New York-based blockchain solutions provider, Axoni, has secured an investment from a range of prolific investors, including such banking giants as Goldman Sachs and J.P. Morgan.
One of the leading French banks, BNP Paribas, has processed its first live payment transactions for two of its private clients using the blockchain technology.
The companies are planning to bring instant settlement and simultaneous delivery versus payment to the London bullion market.
Experts predict sustainable growth of bitcoin price in the year 2017.
Institutional investors will be able to track and value deals more transparently in the spot market.
Online retailer started selling company shares via its trading platform, thus becoming the first publicly traded company to issue securities on the blockchain.