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.
Short-term prediction for SOL indicates that the bullish trend for Solana is expected to continue in the short term.
The Swiss banking industry has been incredibly receptive to crypto with many local banks adding cryptocurrency services to their offerings.
The NFT space is buzzing with activity currently. Yuga Labs recently won a lawsuit with NFT artists Ryder Ripps and Jeremy Cahen paying $1.6 million in compensation for infringement.
Elon Musk criticized NFTs and offered a solution which seemed to praise Bitcoin Ordinals as they solve the problem the Tesla CEO highlighted.
Fed chair Jerome Powell and the rest of the committee are convinced of slower economic growth in the coming quarters amid softening labor market conditions.
The company also shared what transpired in its finances during the third quarter in an earnings report.
This milestone comes hard on the heels of criticism received by the project from several quarters.
The test focused on business-to-business settlements using banks to carry out activties like payment settlements for goods and services, payments to and from institutions and merchants.
Hashkey opened its retail crypto trading services in mid-August this year and has seen its trading volume scale to over $100 million in October.
With this approval, PayPal joins firms like Interactive Brokers, Bitstamp, and Komainu that have been granted crypto registration this year.
The SEC asserts that Karony and Smith inappropriately utilized funds to acquire SAFEMOON tokens with the intention of bolstering their price.
HSBC’s foray into blockchain technology differentiates it from previous attempts by other financial institutions to streamline gold investing.
There was a recorded rally among several stocks as the Federal Reserve decided that it would leave interest rates untouched.
Most predictions are optimistic about a Bitcoin bull run considering the expected spot ETF approval and the upcoming halving.
The partnership will allow Flare dApp developers to benefit from Elliptic’s real-time transaction screening and crypto wallet checks.