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 clarified by the Ethereum Foundation, the Bellatrix Upgrade is not the Merge, but a crucial step to provide the Switch needed for the Merge to occur.
Diverse crypto trading app, Bitpanda recently announced commodities trading for its users for exposure to oil, natural gas, corn, and wheat.
Crypto adoption has gone mainstream, giving rise to the need for a global standard of regulation.
The Sandbox stated that both parties now intend to build a long-term relationship to draw in potential users, especially young individuals who are familiar with the digital world.
It is, however, unclear whether the ban on cryptocurrency advertisements will solely apply to Australia or to all countries that use the ad-supported service.
The peak achieved by Ethereum domain NFTs in the weekly volume list went as high as 2,249 ETH.
21.co has built a legacy for itself in the crypto space, especially amongst institutional investors.
The RBI is also reportedly consulting with a US-based financial services company FIS fo the launch of its central bank digital currency (CBDC).
Leading multi-crypto mining service Poolin has announced that it has discontinued withdrawals on its platform due to liquidity challenges.
In recent times, a collection of fake Bored Ape NFTs by Ryder Ripps has risen to outsell and outshine their real counterparts.
According to CoinGecko co-founder Bobby Ong, ETH holders need to move assets on exchanges that support the ETH PoW tokens.
Soon after Binance’s announcement, BUSD’s daily trading volumes by more than 56% to over $6.5 billion.
As Ethereum prepares for its transition to Proof-of-Stake (PoS), the miner community is considering for a transition to Ethereum Classic.
The partnership stems from a conversation that happened in 2019 between the parties.
There are speculations about what cryptocurrency Russia will use for cross-border payments.