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.
While Bitcoin price teased $38k for the first time this year, Ethereum price spiked over 10 percent to trade above $2,120.
Despite strong opposition from crypto industry players, the European Parliament introduces the Data Act that can severely impact the smart contract platforms.
COIN shares immediately saw a surge in trading activity leading to a 5.14% increase in their stock price.
Deutsche Börse intends to further use cloud computing to accelerate the development of its digital post-trading platform D7 and a crypto trading platform to ensure sustainable future growth prospects.
With the launch of the $285 million investment fund, Lightspeed Faction aims to be a collaborative partner, assisting projects in achieving their goals.
Some of the products that would utilize Ripple Payments are RocketFuel Pay-In Commerce, RocketFuel Mass Pay-Out and RocketFuel Cross border B2B.
With the amendment sailing through unopposed, Emmer emphasized the potential roles of other government bodies, such as the Department of Justice and the Treasury, in managing any possible misconduct within the crypto industry.
As the Bitcoin market continues to surprise with its resilience and unexpected surges, investors and enthusiasts eagerly await regulatory developments.
The bill, if passed, will prevent undue government interference in the crypto sector, and also support self-custody wallets.
The Grayscale Chainlink Trust (GLNK) has been trading at 200% premium to the spot price amid the recent LINK price rally.
Following the SEC’s latest filings, there have been mixed reactions, with some favoring the SEC and others supporting Binance.
The entire world of finance (both traditional and crypto) is eagerly waiting for the US SEC to approve spot Bitcoin ETF.
The mere possibility of spot Bitcoin ETF approvals has injected fresh optimism into the crypto market.
Immutable intends to leverage the capabilities of its ecosystem to ensure that the joint effort with Ubisoft succeeds in affording players true digital ownership.
SEC Chair Gary Gensler said the agency would greenlight the reboot of the exchange if “Tom or anybody else” did it within the law.