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 countries created a policymaking group to further the asset tokenization tests and help with navigating legal and compliance concerns.
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CME’s rise to prominence is often viewed as a sign of an institutional-led rally in the cryptocurrency market.
In anticipation of this pivotal event, there has been a substantial uptick in trading volume for products launched by ProShares and Grayscale.
K-Bank aims to capture 20% of the crypto market in Thailand through the acquisition of Satang Pro.
The Bitcoin network has set a new historic mining hashrate record as the market prepares for next year’s halving.
In 2023 so far, USDT transactions totaled $271 billion Brazilian reais (approximately $55 billion) and surpassed Bitcoin (BTC) transactions, which accounted for $151 billion reais ($30 billion).
The restructuring of the EOS Foundation focuses on enhancing their operational efficiencies and reaching core objectives.
The recent uptick in amendments to filings awaiting SEC approval could be a sign of progress in negotiations between asset managers and regulators.
SBF began his official testimony in the case against him on October 27.
The company said it will offer its services in the country in a phased manner involving a selective rollout of services.
Ripple CEO Brad Garlinghouse reminds how Jay Clayton has pushed the case against Ripple while exposing his hypocrisy against the recent SEC actions.
Having adopted Bitcoin alongside the United States dollar as the legal tender two years ago, El Salvador has attracted significant capital investment through tourism and immigration compared to its neighbors.
Following the farming period, Binance is all set to list MEME on November 3, 2023, at 08:00 (UTC).
Following the announcement of the transition, MATIC experienced a 4% drop in its price, resulting in a reduced market capitalization of $5.8 billion.