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.
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.
Bernstein analysts are not the only experts who believe Binance will remain the world’s leading crypto exchange despite the recent settlement with the US authorities.
Besides the fines Changpeng Zhao will pay, Binance has also agreed to pay $4.3 billion to the United States Department of Justice (DoJ).
The HTX and the HECO Chain have been hacked again with reports suggesting between $85 million and $100 million in losses.
Genesis claims that, as market volatility increased, Gemini made significant withdrawal demands that harmed other creditors.
Grayscale is poised to enter the ETF market on the first day with $20 billion in assets under management, even with the involvement of BlackRock.
Both currencies remain in the down zone on the daily chart, registering 2.6% and 9.34% declines respectively.
As part of the settlement with Binance, FinCEN will impose a five-year monitorship program on the company’s order books despite the fact that the exchange agreed to completely exit the US market.
As part of the agreement, CZ was slated to remain in detention for 18 months. However, the former head of Binance was released in less than 24 hours.
Armstrong touted Coinbase’s efforts at remaining in line with US compliance, while calling for regulatory clarity in the sector.
New Binance CEO Richard Teng has a rich track record in the financial regulatory environment, having worked in Dubai and Singapore for the past years.
As part of the plea deal with prosecutors, Binance has agreed to pay the United States Department of Justice (DoJ) $4.3 billion.
The ranking provides a measure of the credibility and perceived influence of these personalities in the eyes of the crypto community.
InfStones explained it conducted an internal review revealing no further threats. The blockchain infrastructure provider also invited an external security firm to audit its systems and company policies.
Pyth Network’s exceptional refresh rate speed sets it apart and significantly adds to its appeal, surpassing that of its competitor – Chainlink.