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.
According to Sun, all customer funds are safe as the ETH stolen via the hack is only two weeks’ worth of the average HTX revenue.
HTX has announced that the hacker has until October 2, 2023, to return the funds.
Though Upbit quickly moved to halt deposits and withdrawals, that decision came after the fake APT token had already made its way into 400,000 Aptos wallets.
Just a few hours ago, the Ethereum founder deposited 400 ETH to Coinbase. With the price of ETH at $1,573.35 as of the time of writing, the value of the transfer amounts to an impressive $629,200.
Mixin Network immediately suspended the deposits and withdrawals stating that they would soon announce their decision to deal with the lost assets.
The couple purchased 4 real estate properties and also sent 4 million AUD to Malaysian bank.
The development aligns with Coinbase’s goals of expanding its business across Europe.
According to Arkham, Coinbase owns about 5% of all Bitcoin currently in existence, nearly as much as BTC creator Satoshi Nakamoto’s holdings.
OpenSea wrote an email to the users advising them to rotate API keys after one of the vendors experienced a security breach that may have exposed personal data.
The decision to enhance regulatory measures follows the JPEX scandal, which has been described as one of the region’s most significant financial fraud cases.
Gucci held the Ancora Fashion show late last week with a new creative director Sabato De Sarno at the heart of the designs.
Until FTX collapsed in November, FTX Europe was the only firm offering special crypto derivatives (perpetual futures) to the European market.
The recent decision by Bybit to suspend its operations in the United Kingdom is not an isolated incident within the crypto industry.
The defendants allegedly used their connections on the inside to ensure that their withdrawals were prioritized over those of other customers.
Bitmain’s investment represents not only a significant financial commitment but also a strategic move to fortify its partnership with Core Scientific.