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.
The Ethereum Merge Mainnet Readiness Checklist highlights several tasks for developers pending the mainnet launch.
Fidelity Chief Jurrien Timmer recently took to his Twitter page to share his thoughts on the value of Bitcoin.
The US recently secured the extradition of an alleged Russian crypto money launderer from the Netherlands on charges of Ryuk cybercrime.
Hopkin’s collection was developed to give admirers and collectors a way to visually appreciate the actor’s diverse professional experiences.
Citing the emergence of cryptocurrencies and large digital platforms, ECB states that CBDCs are “the only solution to guarantee a smooth continuation of the current monetary system”.
Following the announcement, the price of EOS shot up by over 20%.
Based on the current market condition, this sale is considered an outlier. However, this is not a record sale on the market.
MicroStrategy’s Michael Saylor asks Tesla’s Elon Musk to shore up on more Bitcoin on Twitter in response to Musk’s joke about buying Man Utd.
Fed governor said that the FedNow service will cater to the demand for instant payments while addressing a key value proposition of having a US CBDC.
As Coinbase opens an ETH staking facility for institutional investors, this could prove to be a major income stream for the crypto exchange in the future.
Nexo says its lawsuit against a former director results from several infractions, including breaching an agreement.
Talking about the recent undertaking, Crypto.com’s Asia and Pacific general manager Karl Mohan claimed that the evolution from proof of conception to complete scalability took not more than 8 weeks to materialize.
CoinFund has been a dedicated investor in the digital currency ecosystem for a while now, and the companies in its portfolio include Blockdaemon, Polkadot, Dapper Labs, and Rarible.
The SEC said in a February 28th filing that Kumbhani had possibly disappeared from India as his whereabouts were unknown.
Leading American exchange Coinbase has been served a fresh class action lawsuit for causing substantial loss in crypto assets to users.