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.
As FTX disgraced founder Sam Bankman-Fried steps to defend himself in the court on Thursday, here’s what has transpired ever since the FTX bankruptcy.
As blockchain technology continues to mature, Deutsche Bank and Standard Chartered’s initiative offers a promising vision of the financial world’s future.
Unlike traditional banking transactions, which usually operate only during business hours, the platform executes transactions at any given time of the day.
The forthcoming MiCA regulation aims to introduce a uniform set of rules and guidelines for crypto assets that currently operate outside the scope of traditional financial regulations.
Polygon Labs called the launch of the Polygon token a major milestone on the Polygon 2.0 journey toward building the Value Layer of the Internet.
Layer-1 blockchain Avalanche is known for its speed, low cost, scalability, and security.
The crypto market’s largest assets have noted significant increases even as giant Magnificent Seven tech stocks plunged yestereday.
The ALT2511 bond would start trading at the price of 100 USDT and has a minimum investment threshold of 125,000 USDT.
By bridging wstETH to other chains, LayerZero is aiming to unlock new opportunities and use cases for the token within those ecosystems.
Card and payment companies like Mastercard, PayPal, and Visa have been working with and investing in blockchain technology to expand their array of services.
Hashdex’s proposed ETF stands out from existing cryptocurrency-related ETFs due to its unique approach, which is the purchase of physical Bitcoin.
This collaboration would facilitate a seamless and secure data and service exchange across the global trade ecosystem.
Sam Bankman-Fried will be pushing to clear his name after his former colleagues made many revelations that could lead to his imprisonment for more than 100 years if the jury finds him guilty.
Hayes has always maintained an optimistic outlook on Bitcoin and remains one of the market analysts who believes the best is yet to come for the premier cryptocurrency. He believes we will see a $1 million price tag for the coin in the long term.
It is worth noting that the SEC’s action come only days after BlackRock unveiled its ticker symbol (IBTC) in anticipation of the approval of its spot Bitcoin Exchange Traded Fund (ETF).