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.
Virtual currencies become recognized as asset-like values while all cryptocurrency exchanges need obligatory registration with the Financial Services Agency.
The Logos Fund,registered with the U.S. Securities and Exchange Commission, will allow avoiding investing into mining by purchasing and managing own hardware.
Biometrics security company joined hands with the leading bitcoin security provider to help customers enhance the protection of their digital assets.
The Blockchain Research Lab will deal with research and exploration of blockchain potential and possible application of the technology to medical services.
The banks tried five different blockchain-technology providers to test trading fixed income.
The California-based incubator has accepted 23 new fintech startups, including those based on the blockchain technology, for its latest batch of program.
The Financial Services Agency will soon present its plan to recognize bitcoin as fulfilling the functions of currency while the problem of bitcoin taxation remains unsolved and hotly debated.
The improved version of Raspberry Pi 2 is already available for purchase for the same price.
Microsoft predicts interesting days in the distributed ledger ecosystem and is looking for new partners and new open technologies.
BitFury made an investment in BitPesa, a Pan-African and universal payment and bitcoin trading platform.
This year the London Bitcoin forum focuses on all possible challenges and opportunities provided by Bitcoin and the Blockchain technology.
ChangeTip, California-based ChangeCoin’s product, is going to let users express appreciation and make payments via monetary tips.
Wirex explains why the sole name is the best solution and assures E-Coin customers not to be bothered by the rebranding.
Global network of students, called the Blockchain Education Network, will conduct a blockchain competition among US and Canadian students.
The Royal Bank of Canada aims at transforming traditional transaction process to decrease operational costs and boost efficiency.