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.
Apart from halting withdrawals, Hodlnaut has also informed Singapore’s Monetary Authority (MAS) about withdrawing its license application that received in-principle approval from the central bank back in March.
Samuel Reed, Arthur Hayes, and Benjamin Delo have already pleaded guilty, and have each agreed to pay a $10 million fine as part of the terms of their plea agreement.
Iris Energy expects to be operating at its full 80 megawatts capacity by the end of the year.
Since calling for the return of 90% of its stolen crypto assets, Nomad has now received $32.6 million from white hat hackers.
Here’s what experts have to say about the impact of The Merge upgrade on the Ethereum ecosystem and other blockchain networks.
On Monday, the US Treasury blacklisted Tornado Cash for allegedly helping to launder about $7 billion worth of cryptocurrencies.
Marathon Digital saw a 51.8% drop to $24.9 million in revenues during Q2 2022.
A popular analyst has provided guidance for the price of Bitcoin owing to the recent BlackRock collaboration with Coinbase.
One of the key factors driving the growth of the AVAX token today is its growing Decentralized Finance (DeFi), and Non-Fungible Token (NFT) activities.
Changpeng Zhao has distanced himself from the entire event stating that Binance only provides wallet services to WazirX as a tech solution.
At press time, Cardano is ranked the 7th largest crypto asset on CoinMarketCap with a market cap of $18.3 billion.
The company did not specify, whether this means it can provide the entire range of its crypto trading services in the country or if there are still any conditions that must be met.
According to the original motion, Bolger worked as a full-time CFO at the company with a base salary of $750,000.
The futures open interest in Bitcoin and Ethereum for the month of August so far has already surpassed the futures open interest for the entire month of July.
Ethereum developers have been working on shifting their focus to scale the network after the coming upgrade – The Merge.