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.
Strating January 1, 2024, Brazil will introduce a flat 15% tax on crypto profits and up to 6,000 Brazilian reais ($1,200), will be exempt from taxation.
The filing comes just weeks after it was reported that SafeMoon executives were at the centre of a Department of Justice (DoJ) securities fraud investigation.
The 25 billion BONK tokens airdropped to Solana developers last year are now worth over $600,000 after the meme token has rallied in the last few months.
With a history of backing successful ventures like Cosmos, Solana, and Polkadot, Cyber.Fund aims to foster the development of what it terms the “cybernetic economy”, where blockchain forms the foundation.
LayerZero’s V2 introduces an omnichain network of blockchains to enable web3 developers to build universal decentralized applications.
The BitcoinShrooms compilation featured pixelated artworks, with a particularly captivating avocado that outperformed initial expectations, commanding an impressive $101,600.
Binance has officially listed the BONK token with limited trading pairs, and will allow users to withdraw the tokens from tomorrow.
While SEC Chair Gary Gensler acknowledged constructive dialogue in Bitcoin ETF applications, he also warned of persisting non-compliance issues in the crypto space.
Ledger claims that the funds were drained in less than two hours, after which it came on top of the situation.
Aside from Teylor, Taurus has also secured other partnerships to enhance its crypto custodian and tokenization services.
In addition to TIA, INJ, and NEON, other tokens have also demonstrated noteworthy performance.
The Sandbox is celebrating the launch of its marketplace on Polygon with a new NFT collection by 30 artists from its Creator Fund.
Binance surveyed 1,172 of its registered users in jurisdictions where it is allowed to operate and found that 45 percent rely on crypto to earn an extra income.
Although the price spikes following the Fed announcement cleared recent bearish drawdowns and provided support levels, uncertainty remains over the sustainability of the increases.
ESCC will introduce stablecoin-based gas fees and Ethereum compatibility on EOS.