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.
In terms of health indicators, several pledged BAYC NFTs are trading in the danger zone on the peer-to-peer platform BenDAO and could face liquidations in case of failure to repay the ETH loans.
As mentioned in the affidavit, the company’s potential creditors currently stand at 17,513.
According to the event page for the protest, the accusations against the Tornado Cash developer may affect the open-source software segment.
The recent market crisis has somehow reminded investors of the safety of using hardware wallets.
The latest findings show that the attackers converted the rest of the Ronin assets to renBTC using 1inch or Uniswap. Since Ren allows transferring value between blockchains, the hackers managed to bridge the assets from Ethereum to the Bitcoin network.
The record shows that FTX had about $2.5 billion in cash at the end of 2021 and 27% profit margins.
After a strong rally in July and part of August, the risk sentiment in crypto has once again turned negative. Expectations of upcoming Fed rate hikes have been putting pressure on the crypto market as a whole.
Cramer also cautioned investors to realize that companies will likely continue to have difficulty making long-term plans as they cope with the swift and ongoing changes in the economy, and that includes crypto firms.
Gnosis Safe had a successful funding round of $100 million in July. The company is also looking to set up the Safe Foundation in Switzerland.
Several crypto-oriented stocks regressed in Friday’s pre-market trading, after a promising start to August as lead crypto BTC also fell.
In a question and answer section of its blog post, Hodlnaut admitted that there is a pending proceeding between the company and the Attorney General as well as the Singapore Police Force.
The upcoming September Ethereum Merge has already sparked conversations as the blockchain seeks to overhaul its operational module.
Nigeria launched its Central Bank Digital Currency, the eNaira, in October 2021, becoming the first African country to do so.
After a depeg following the removal from crypto exchange FTX, the HUSD stablecoin has regained its USD peg. The company clarifies the matter.
The Galaxy Liquid Alpha Fund will be focusing majorly on expanding the company’s exposure to a wider range of crypto assets.