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.
Russian national Aleksei Andriunin, founder of Gotbit, has been extradited to the United States where he faces serious charges for allegedly manipulating cryptocurrency markets for clients between 2018-2024.
Phantom CEO Brandon Millman believes SimpleHash will enhance usability and provide more accurate token data for users.
Pump.Fun has seen its X account compromised through a possible social engineering hack.
Ondo Finance integrates tokenized US treasuries into Mastercard’s network, enabling businesses to access digital bonds without crypto infrastructure.
Recently Nasdaq-listed Fold Holdings has bolstered its Bitcoin reserves with a strategic 10 BTC acquisition, positioning itself among the top 15 corporate Bitcoin holders in the United States.
Bank of America CEO Brian Moynihan revealed plans to issue a dollar-backed stablecoin once regulations allow, signaling the banking giant’s strategic pivot toward digital assets.
THORChain (RUNE) decentralized exchange (DEX) volume has shot up a massive 300% in the past seven days alone.
A forensic investigation into the Bybit hack revealed that attackers exploited a Safe{Wallet} developer machine to insert malicious code, deceiving Bybit’s cold wallet.
Andreessen Horowitz has appointed former Congressman Patrick McHenry as a senior advisor for technology policy, leveraging his extensive experience in cryptocurrency regulation and financial innovation.
Binance has alerted users to the rising threat of SMS phishing attacks where scammers manipulate sender information to appear legitimate, emphasizing the exchange never contacts users through SMS channels.
Pi Network (PI) has skyrocketed 54.47% to $2.42, claiming a self-reported market cap of $15.91B that outranks many established cryptocurrencies, though these figures await verification.
Avalanche Foundation debuts a crypto-powered Visa card in partnership with Rain, targeting Latin America and Caribbean markets first, allowing seamless payments with AVAX and stablecoins.
The prices of the two altcoins have been observed to be moving at a significantly higher pace than other coins.
The stablecoin payment option will initially be available at Metro Paragon and Metro Woodlands locations.
Ondo Finance and NAVI Protocol launch a USDY rewards campaign as Sui’s DeFi ecosystem expands, integrating real-world assets into DeFi.