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.
Alfonso Gómez, CEO of BBVA Switzerland, believes the collaboration with Ripple will keep the two firms ahead of the market.
Bitcoin price has already bottomed out from the 2022 crypto bear market with about 137.1k BTC left to mine until the fourth halving event in early 2024. It is expected that approximately 150 days are left until the next halving.
Market experts are convinced the settlement between Binance and the US government is a bullish event for Bitcoin and the altcoin industry with spot ETFs anticipated anytime soon.
Bitcoin has managed to successfully sail through amid several concerning events in the crypto space, with derivatives data showing strength.
In the filing BlackRock proposed In-kind redemptions could also offer tax efficiency, avoiding the need to sell securities for redemptions, which might trigger capital gains taxes.
These consecutive crypto breaches highlight the urgent need for enhanced security measures within the crypto ecosystem.
Additional details have revealed that the HTX hacker stole over $13 million from hot wallets, swapped to ETH, and then distributed the funds.
In the new letter filed at the US Court of Appeals for the Third Circuit, Coinbase’s legal team believes that only the court can order the SEC to do its bidding to provide a clear regulatory framework for the crypto space instead of choosing to control the industry by enforcement.
The announcement of KPMG Canada’s partnership with Chainalysis coincides with broader industry efforts to tackle fraud associated with crypto.
With this acquisition, CoinGecko plans to integrate Zash’s NFT data into its Application Programming Interface (API) by the second quarter of next year.
Creditors will start receiving cash repayments from the Mt. Gox Trustee this year. These repayments are specified to be cash and may not include crypto.
Along with its collaborative commitment to encouraging creativity and engaging fans, Binance, in partnership with Gasly, offered users and fans the exclusive Pierre Gasly Experience.
Despite the legal victories of Ripple, the court recently issued an order concerning the remedies phase of the lawsuit.
Legal experts, including Ripple lawyer John E. Deaton, share Armstrong’s optimism, speculating that Coinbase will be a significant beneficiary of Binance’s regulatory challenges.
A high-profile situation that eventually led to CZ leaving his role as CEO of Binance has not distracted traders from their interest in Bitcoin.