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 judge threw out the charges against website designer who had been accused of unlawful transfer and laundering of bitcoins.
Ethereum Classic now takes the sixth position in the list of cryptocurrencies with the largest market capitalization.
Ernst and Young explains that financial industry is far from being the only one that can benefit from the blockchain technology.
Now Coinbase customers can make various transcations with Ether using their Coinbase accounts.
Mizuho has become one of the first Japanese banks to adopt blockchain using Ripple.
The companies have combined its experience to offer precise index representation of FinTech that now includes 49 companies.
SolidX unveiled its plans to launch an ETF product called SolidX Bitcoin Trust.
The Blockchain Innovative Center will focus on blockchain-based solutions for a number of spheres.
Bitcoin mining reward has been halved for the second time in its history.
The blockchain technology company, Bitfury Group, has proposed a new hybrid routing solution that will increase transaction volumes in the bitcoin blockchain network.
The law focuses on regulation of digital currencies including bitcoin and blockchain industry in particular.
Juniper Research, one of the leading analyst firms in the mobile and digital tech sector, predicts that the total volume of all bitcoin transactions may exceed $92 billion by the end of 2016. In 2015 the volume made up $27 billion. Even comparing to the beginning of 2016, bitcoin is now trading at values nearly […]
Within the next few weeks, the reward miners get for creating the virtual currency is anticipated to face the second halving in history of bitcoin.
Although the Winklevoss Bitcoin Trust was initially listed on Nasdaq, Winklevoss brothers have decided to change it to BATS Global Markets.
The bill empowers bitcoin companies in North Carolina to get money transmitter licenses.