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.
Wang’s testimony was part of a plea agreement with prosecutors stemming from his guilty plea filed in December 2022.
Similarly, Block has embarked on a mission to democratize the Bitcoin mining industry. They recently announced plans to produce a ‘Mining Development Kit’ (MDK) for consumers.
The bear market coupled with the turbulent US regulatory environment has prompted many digital asset businesses to lay off a part of their staff.
Hayes based his bullish prediction on several key factors. He pointed to the potential economic downturn and financial crisis, which could lead to near-zero interest rates, creating favorable conditions for Bitcoin’s growth.
The launch of the VC fund in Hong Kong highlights the country’s rising role as a crypto haven.
The TON Foundation has formed a strategic partnership with MEXC, aiming to advance global Web3 accessibility and reduce entry barriers.
For developers looking to integrate blockchain data into their applications, Flarescan will also offer a developer API, simplifying the process of harnessing blockchain insights.
Aside from the commercial bank, the Bank for International Settlements (BIS) will participate in the pilot to provide technical guidance and expertise to users.
BIS continues to warn that crypto data can be “manipulated or distorted”.
This ruling marked a crucial victory for Ripple, instantly boosting XRP’s price by almost 5%. When Ripple achieved its first victory, although a partial one, in July, the price of XRP spiked from $0.46 to $0.93 in just 10 hours, a stunning 100%+ increase.
DSS will enable companies to establish financial market infrastructure leveraging digital asset technology.
Until the trial proceeds next September 2024, Mashinsky will remain free on $40 million bail, however, will continue to face travel and financial restrictions.
Obtaining the license is an all-important move for Ripple, especially for its keen interest in growing its presence in the APAC region.
The new product is set to give investors exposure to the Bitcoin value movements on the underlying CoinDesk Bitcoin Price Index (XBX) and will only be settled in the United States dollar.
It remains unclear whether the Orama purchase will directly result in the development of crypto-related products and services at BTG Pactual.