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 experts forecast the US SEC will approve a spot Bitcoin ETF within the next six months, the BlackRock’s officials confirmed that it has not received a green light on its application.
Depending on current BC Technology discussions with potential buyers, the company might conclude a sale of all or parts of its OSL exchange.
Binance burned about 2.13 million BNB coins during the last three months thus bringing the total coins removed from circulation to about 50.2 million units.
This brand overhaul aims to enhance Web3 accessibility for a new generation of users by offering a well-designed platform that combines user-friendliness with powerful features.
It is important to note that when a government agency seizes a crypto asset, it does not immediately own the assets. Ownership transfers only after a court ruling in favor of forfeiture.
The DMCC said it onboarded the Solana Foundation as one of its ecosystem partners for technical support and to build a robust ecosystem.
The progress on the Grayscale conversion front offers a welcome degree of clarity to the ETF approval process, which had been somewhat murky.
The developments between US SEC and Grayscale over the past weekend led to whales accumulating Bitcoin in huge numbers.
Even though social finance ideas are not new, Tomo and other platforms are looking to diversify the services made popular by FriendTech.
Kraken Australia’s Director Jonathon Miller does not support the proposed rules, stating that the paper was trying to fit crypto into existing financial services regulations.
Governor Newsom’s endorsement of the crypto regulation bill represents a significant departure from his previous stance.
Asia is getting filled with a growing number of blockchain enthusiasts, while the rest of the world is waiting for crypto winter to start.
With the license, Upbit will now be able to offer digital payment token services to institutional investors. However, it still awaits a full MPI license from the MAS.
The initiative follows the introduction of a roadmap proposed in a synthesis paper by the IMF and FSB, aimed at fostering international policies and regulations for crypto assets.
The CoinList staking fund offers US accredited investors an opportunity to earn a yield on their digital assets through investment in a private fund.