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.
Celo’s inclusion with Opera’s MiniPay wallet augurs well for Africa’s expanding digital finance sector.
While Bitcoin maintains its stability amid inflationary concerns and economic data releases, other cryptocurrencies face a different fate.
In a matter of weeks, Coinbase constituted a team to dig into the protocol and assess the feasibility of its integration.
Hashdex’s rivals, such as Ark Invest and 21Shares, have also approached the SEC with their separate applications for spot Ether ETFs.
As of the latest available data from CoinMarketCap, Toncoin holds the position of the 11th largest crypto by market capitalization, with an estimated market cap of around $6 billion.
Ironblocks noted that the new collaboration between the two entities will ensure that all projects under AvengerDAO’s ecosystem will be safe from security threats.
With this collaboration, Adventure Gold DAO’s native token, $AGLD, will also be accessible on Oasys, enhancing collaboration and innovative gaming experiences.
Top voices in the crypto industry have continued to criticize the US government and its approach toward regulation.
The impact of regulatory challenges on the exchange’s market share has been notable. Binance.US has experienced a substantial decline in its market presence in the United States.
Karl Sebastian Greenwood pleaded guilty on December 16, 2022, to operating a multi-billion cryptocurrency pyramid scheme dubbed OneCoin.
CoinEx has reassured all its customers that all the affected parties shall receive a refund of 100%. The exchange also said that it would release a detailed report soon.
Klaytn is expanding its offerings to focus on the tokenization of real-world assets like jewelry and real estate on its blockchain.
Financial giant Franklin Templeton has applied to the SEC for approval to launch a Bitcoin exchange-traded fund (ETF) named the Franklin Bitcoin ETF, with Coinbase as the custodian and trading on the Cboe BZX Exchange.
According to BIS research, 93% of central banks across the world are investigating the feasibility of issuing CBDCs.
Lawyers representing Binance.US believe that, overall, the SEC’s moves so far would do more harm than good for its bidding.