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 interest of Barclays in a crypto firm is a great example of traditional companies warming up to the crypto sector.
Having admitted that they are in a bad time, a representative from Alameda has assured that their proposed plan to reorganize the firm is the right call.
Binance CEO Changpeng Zhao does not believe that Musk or Tesla selling Bitcoin does much for the current market.
Zipmex announced it is considering buyout offers from “various interested parties” after suspending customer withdrawals last week.
Before the heat between Coinbase and the SEC started, the crypto exchange was always conservative in its token listing.
Silvergate Bank CEO said that their Bitcoin lending continues to grow strongly while referring to the recent market volatility as a good stress test.
Morgan Stanley referred to El Salvadoran bonds at their current prices as a buying opportunity. El Salvadoran 2027 bonds have dropped from 32 cents to 28 cents this year.
The possible acquisition of Bithumb by FTX could mark one of the exchange’s first attempts to directly connect with the South Korean crypto ecosystem.
Three Arrows Capital cofounders finally granted an interview to refute allegations that they moved funds before the company collapsed.
Citi believes that crypto contagion has peaked, and according to its new report, a number of indicators suggests so.
Tezos is already home to many DApps and platforms that are offering unique solutions to Web3.0 users.
The decision to integrate Google Pay is to reiterate Crypto.com’s mission of democratizing access to digital currencies as the move into the future of Web3.0 intensifies.
The FSC also added that credit cards cannot be used for stocks, online gambling, futures options, and other transactions in Taiwan.
Crypto lending platform BlockFi provided crucial insight into its loans, credit, and liquidity position in its “Q2 2022 Transparency Report”.
Epic Games founder and CEO Tim Sweeney has confirmed that his firm has no interest in forcing any decisions on its users.