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.
By venturing into NFTs, the Museum of New York is leading the move by traditional American museums to explore the web3 and metaverse space.
According to BitGo, the contract is not expiring till 31st December 2022, and Galaxy Digital has to pay a $100 million breakup fee promised in March 2022 “in order to induce BitGo to extend the merger agreement”.
Galaxy Digital said it would move on with its reorganization plans.
While digital currencies are not the primary strength of Revolut, it has joined the race for license approvals like other crypto-focused companies in and beyond Europe.
Zipmex applied for up to 6 months extension, however, the court only granted an extension valid until December 2.
Despite the sheer uptick that both Dogecoin and Shiba Inu have experienced in the past few days, both are still trading far below their respective All-Time Highs (ATH).
Bitcoin continues to face strong resistance at $24,900. Technical charts show it forming a double top which hints signs of moving downwards from here.
Some of the Tornado Cash resources banned were the Tornado Cash GitHub account, the personal GitHub accounts of Tornado Cash contributors and all USDC on Tornado Cash CirlePay contracts.
The Skybridge Capital founder mentioned the highly-anticipated Ethereum merge as a possible push for a crypto rebound.
The exchange revealed that it had severed ties with the hacker and was seeking legal advice on the next course of action.
Schiff added that the selloff in the crypto markets this year was a clear reflection of a massive “pump and dump”.
The Guinness World Record for most people using virtual reality currently sits at 1,867 participants and was recorded back in 2017, when the metaverse did not exist.
While Strike may be the latest blockchain-based startup with a collaboration to offer crypto rewards through a Visa card, it is certainly not the first to trail this path.
As required by the agreement, all secondary trades of Cronos-based NFTs sold on Crypto.com would be facilitated by Minted.
Huobi investors, including ZhenFund and Sequoia China, were made aware of the founder’s intentions at a shareholder meeting in July.