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.
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FTX prepares to initiate its massive creditor repayment program, offering up to 120.5% returns for small claims while Bitcoin holders face value cap challenges.
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The Polkadot Blockchain Academy has introduced “Blockchain Basics”, a three-day educational course aimed at equipping lawmakers with the knowledge needed to create robust crypto policies.
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Scammers used a hacked Saudi Law Conference account to launch a fake KSA token, misleading investors into believing it was legitimate.
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With the meme coins putting a negative impact on Solana, SOL price dropped to a crucial support under $200. As the supply pressure is growing and a new wave of SOL token unlock is on the horizon, is Solana crashing back to $135?
Bitcoin reserve in the US may see more active participation from the crypto task force in the US.
SCBHK, Animoca Brands, and HKT have already been testing the waters in HKMA’s stablecoin sandbox since July 2024.
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The biggest liquidation order took place on Bybit, where a BTC/USDT trader lost $1.6 million.
The Binance platform will no longer support AMB, CLV, STMX, and VITE by February 25.