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.
With the wallet selector, users can switch between different wallet extensions and manage their assets more effectively.
Abra is also planning to introduce Abra Boost, a product that will let qualified investors deposit and earn interest on digital assets.
The PoW mainnet will launch within the first 24 hours after The Merge.
This partnership would enable Starbucks to create a new loyalty Program by allowing customers to earn and acquire digital collectible stamps in the form of Non-Fungible Tokens (NFT).
While CME is launching its ETH options trading, the short ETH calls in the derivatives market have picked up significantly as traders are hedging the spot calls.
Anchorage described its partnership with GMO-Z.com Trust Company as a step forward.
The prominent Blockchain Association says it established its PAC to back pro-crypto candidates from both sides of the aisle.
Nikhil Wahi got access to confidential information of token listing through his brother Ishan Wahi who was working at Coinbase. Nikhil purchased the assets before the Coinbase listing and made heavy profits as the token value surged.
The integration of Tether USDT represents a major milestone for the NEAR protocol, even as it continues to expand its DeFi presence and target Web3.
Fidelity plans to offer brokerage customers Bitcoin exposure as institutional clients maintain BTC interest despite the bear market.
The Consumer Price Index (CPI) report for the month of August is billed to be released on Tuesday.
Meanwhile, the 1inch Limit Order Protocol has witnessed a decline in the volume of trades on the platform.
NEAR and Caerus want to revolutionize the Web3 space further, and have combined forces to create a fund for this purpose.
Fireblocks’ revenue report suggests that investors and institutions may not be dabbling into crypto as a quick money venture anymore.
The weakness in security infrastructures from Cream Finance and other recently hacked DeFi protocols has continued to dampen the sentiments surrounding the sector.