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.
Memeland plans to become a fully decentralized, community-driven platform where current NFT holders will have access to govern the Memeland DAO.
The Fed rate cuts could lead to monetary easing allowing fresh funds to flow into risk-on assets such as Bitcoin and other cryptocurrencies.
South Korea is the first Asian country to make efforts to ensure transparency among all crypto holders in the nation, irrespective of their class and status.
The Ethereum Name Service (ENS) allows users on the Ethereum blockchain network to replace long, complex crypto wallet addresses with simple, human-readable .eth domain names. This makes sending and receiving transactions much easier.
Privacy tokens Monero and Zcash are among the tokens given warning tags by Binance. Customers will need to complete a quiz to access them.
Bitcoin miners are preparing for this year’s 50 percent reduction in block reward by updating their mining hardware and software as experts predict significant profits by EOY.
The Matrixport founder believes that, in the long run, BTC will maintain its position as a store of value and a risk-hedging asset, surpassing gold.
On January 2, Bitcoin hit $45,000, which was the highest level it had reached since April 2022.
EBA raised its concerns over potential financial stress arising in NBFIs amid their indirect exposure to crypto firms and crypto markets.
JAN3 founder Samson Mow has said that companies that issue spot Bitcoin ETFs should provide on-chain addresses to prove their Bitcoin reserves.
Today Bitcoin is widely accepted in the United States, the United Kingdom, Asia-Pacific nations such as Hong Kong, Singapore, Thailand, the Middle East, and some European markets.
Bitcoin and Ethereum have reactred with a price fall to the newly published Matrixport report on possible spot Bitcoin ETF approval.
The introduction of XAI comes at a time when Binance is experiencing remarkable growth. At the end of 2023, Binance reported a staggering addition of 40 million new users, marking a 30% increase from the previous year.
As per his share sale plan, Michael Saylor will be selling 5,000 MSTR stocks daily over the next four months to raise MicroStrategy’s Bitcoin holdings.
The acquisition of Solscan by Etherscan comes at a time when activities on the Solana ecosystem garnered interest from crypto traders due to the resurgence of meme tokens.