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 the Bored Ape Yacht collection (BAYC) has 10,000 NFT in the market, it still lacks boating opportunities. To address this, one Bored Ape NFT holder is launching a decentralized yachting club.
The ECB authorities have claimed that the virtual euro will be initially introduced to pay attention to public-based applications like transactions among peers and in retail shops.
Blankos Block Party is a free-to-play multiplayer party game built around unique collectible digital vinyl toys called Blankos. These non-fungible tokens that can be purchased, upgraded, and sold within the game.
Several investors have contributed to a $15 million seed funding round for Magna as the company helps to automate token issuance.
BigCommerce is allowing its merchants to expand their payment options and widen their market share.
Both ByBit and FTX are offering ETHW trading following the successful Ethereum Merge, even as the network is preparing for a hard fork.
Some social media users have warned about interacting with EthereumPow citing chances of replay attacks as well as the possible volatility around the cryptocurrency’s value.
VanityBlocks are in no way a cheap means to mint an NFT as the team had to pay nearly $50,000 to mint an NFT on the last block of Ethereum PoW.
The leading mining pool on Ethereum, Ethermine, has become the largest mining pool on Ethereum Classic after the Merge.
Thai SEC has taken steps to ensure that investors are properly protected from the risks associated with crypto lenders.
The new fundraise will help Two Sigma Ventures invest across multiple industries including fintech, consumer tech, SaaS, crypto, DeFi, and much more.
There are now a lot of expectations from the wider Ethereum community as many will now look to test out the capabilities of the new Proof-of-Stake protocol.
Celsius prompted bankruptcy filing this summer as it froze customer withdrawal from its platform.
ETHW will continue to use the PoW mechanism, providing a way for crypto miners to continue to put their mining rigs to use.
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