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 Binance crypto exchange had a monthly trading volume dominance of about 40 percent, representing $432 billion, despite the regulatory hurdles.
The Mad Money host described the recent Bitcoin rally above $45K as a remarkable comeback that was unexpected.
The US SEC would still need time to review all the changes made to the Bitcoin ETF S-1 filings submitted last week, only after which it could make certain decisions.
While crypto ended 2023 on a positive note, we look forward to the sector in 2024 and beyond, with the following predictions.
It was a controversial year for the crypto indutrsy. Let’s have a closer look at the major crypto-related events that too place in 2023.
On December 28, the company announced that its fleet of 3,750 Bitcoin ASIC miners, purchased last year, had already generated profits due to the surge in the coin’s price.
In terms of regional search, Google Trends revealed that countries such as Spain and the Philippines took the lead. People in these nations recorded more users searching for the term Solana than Ethereum.
A staggering 98% member of the PancakeSwap community voted in favour of reducing the CAKE supply by 300 million resulting into a strong surge in the CAKE price.
OKX has announced that it is deleting 11 trading pairs. These changes will go into effect from early January 2024.
For the planned investments in selected meme projects on the Avalanche network, the non-profit has outlined specific requirements for eligibility in the program.
If the court approves the proposed plans from debtors, the FTX creditors could lose a huge sum of money considering the rally in crypto market this year.
In a new blog post, Vitalik Buterin noted the loss of the original web3 values, the ways that the community can get back on track, and the progress that Ethereum has made so far.
Binance reported more than $1.2 billion in assets under custody for more than 170 million users in its 2023 performance report.
Presently, India is working on a crypto regulatory framework that is scheduled to take effect in 2024. The framework is based on a joint recommendation of both the International Monetary Fund and the Financial Stability Board.
The Terraform boss was arrested and imprisoned in Montenegro over falsified documents after being on the run to escape his fate as the alleged mastermind behind the collapse of the blockchain.