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.
Until recently, there was no proper regulation of the crypto industry in Colombia, however, with the increasing the number of crypto owners in the country, the government realized the necessity for working on regulatory framework for all the issues related to digital assets.
The massive crash in the crypto market during the second quarter led to a huge selling pressure for miners in order to continue with their operations.
For BlockFi, being the best on the Inc. 500 list is a significant achievent, especially after all the challenges it has faced this year. Notably, it has been far ahead from the second company on the list, leading by more than 99,000% over the runner-up.
The recent surge in the Ethereum options open interest comes amid all the positive developments leading to the Ethereum Merge next month.
The market capitalization of Tether (USDT) is finally on the uptrend after nearly three months in an opposite direction.
Less than a month after the Fortune listing, Ripple received another recognition from Inc Magazine.
While Coinbase is the first one to declare a pause on any depositary or withdrawal actions, it won’t be the last one.
About a year after Huanhe launched, Tencent halted the sale of NFTs on the platform. The new move took effect as of 16th August 2022.
Hodlnaut is expected to provide its next update on August 19 and hopes that its latest action will give it some time to devise a recovery plan to avoid liquidating customer assets.
By using Chianlink’s smart contracts automation service, Floki will automate the token-locking process at their end.
The emergence of Ethereum 2.0 is billed to change a lot of things for Ethereum in the coming days and while the merits are innumerable, there are also defined demerits that can surface.
Lucas Rabechini, XP financial products director, disclosed that the company has projected to reach 200,000 crypto-active users by the end of the year.
Crypto.com has become the first company to sign the Pre-registration Undertaking and acknowledge the Ontario Securities Commission for offering crypto products.
As per the latest report, Celsius’s current debt is more than what was reported in the bankruptcy filing. The company has reportedly lost a staggering 62,853 BTC deposited by investors.
The number of crypto firms getting operational licenses in Italy is on the rise, begging the question, whether regulatory requirements in the country are not as stiff as it should be.