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 BONK token is on a parabolic rise as it continues to soar despite being a meme coin on the Solana network.
The potential resolution of the US criminal investigation into Binance marks a critical juncture for the crypto industry. If Binance agrees to the proposed fine, it would represent one of the largest settlements in the history of the crypto market.
The L2 protocol anticipates its Mainnet to go live on February 24 next year, enabling withdrawals, with users able to redeem their Blast Points starting May 24.
The third amendment is another attempt for ARK Invest to ensure that the proposal for the ARK 21Shares spot Bitcoin ETF will pass the SEC’s screening.
BNB price has gained about 6.4 percent in the past 24 hours to trade around $262 as the charges filed by the DoJ are believed to be finalized by the end of this month.
Celsius Network has received court approval to transform itself into a Bitcoin mining company, owned by its creditors, as part of a comprehensive strategy to repay account holders whose funds have been inaccessible for over a year.
This lawsuit adds to Apple’s recent antitrust challenges. In September, a US judge ruled that payment card issuers could sue Apple over alleged anti-competitive practices related to its Apple Pay mobile wallet.
Binance will reportedly pay no less than $4 billion in fines to keep operating in the United States.
The SEC has brought legal action against Kraken, this time accusing the exchange of mixing user funds, while unlawfully offering securities services.
Blockchain Association slammed the OFAC stating that the regulator should catch hold of individuals engaging in illicit activities instead of imposing the ban.
Bittrex stated that the decision to cease operations was not taken lightly, acknowledging the inconvenience this may cause to its customers.
Besides freezing assets, Tether follows strict Know Your Customer (KYC) and Anti-Money Laundering (AML) protocols.
Aside from the integration of ICP into the SingularityNET protocol, the two companies plan to synergize their grant programs by merging the Deep Funding and DFINITY Developer Grant Programs.
The price of Worldcoin has fallen over the last 24 hours as new of Sam Altman’s problems and ousting continue to spread.
Bernstein analysts are convinced the flagship digital asset will continue on a bullish trajectory amid the incoming halving event that will reduce Bitcoin’s monthly selling pressure to less than $500 million.