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 part of Project Marina, the three banks have collaborated with the Bank of International Settlements (BIS), for conducting CBDC cross-border settlements.
Despite entering the list of approved digital assets, PayPal’s PYUSD stablecoin may not experience the instantaneous adoption initially anticipated following the launch.
Officially, the valuation as of the end of May is correct and Celsius will pay creditors $2 billion in Bitcoin and Ether tokens.
According to analysts, there are 15 Ether futures ETFs awaiting approval.
Uniswap had previously raised $17.3 in the first round of a $74 million funding that was mapped out for its developer.
The NEAR Foundation has become the official blockchain partner for ICC in a bid to help fans interact more with their favorite teams and players.
A foray into traditional finance by Kraken would put the exchange in direct competition with US-based trading platform Robinhood.
The Post-Quantum Cryptography coalition is geared towards providing the architecture and information on how to protect data from decryption by quantum computers.
The global crypto exchange has been facing intense regulatory scrutiny. Most of its regulatory issues are in Europe
The new development comes a day after CommEX officially launched on September 26, 2023.
According to the report, in some countries, central banks are directing their attention toward wholesale CBDCs, which are designed to facilitate the settlement of interbank transfers and other wholesale transactions.
According to the filing, Coinbase will securely hold and manage the actual Bitcoin assets that underpin the ETF. The company has also confirmed that the Bitcoin ETF will be listed and traded on the Cboe BZX Exchange, Inc.
Bitcoin ETFs provide an easy way for investors to put their funds into the cryptocurrency market.
Gemini began its venture into the Indian market earlier this year after it announced the opening of its second-largest office in Gurgaon.
BlockFi determined earlier this year that liquidation was the best choice for compensating customers after extensive consideration.