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.
Due to its explosive popularity in less than two years, a VMR report predicts that the NFT market will swell to over $231 billion by 2030.
Uniswap (UNI) is the latest among the list of cryptocurrencies that Robinhood has been offering support over the last few months.
The bankruptcy document submitted by Celsius shows a massive $1.2 billion debt on its balance sheet. Analysts explain why Celsius customers would never get their funds back.
BNB Chain says that DappBay, its recently-launched dApp hub, will improve the overall security impression of users across its ecosystem.
Despite that NFTs are not banned in China, stringent government policies have made it practically impossible, even for NFT businesses to thrive there.
Voyager Digital is the latest crypto firm to experience a short squeeze with VGX tokens surging despite Voyager’s bankruptcy filing.
The newly launched is not even offering gaming NFTs yet, which will reportedly be the marketplace’s planned core offering.
It is the first initiative of this kind for OVER that has managed to win the support of one of the most prominent crypto exchanges in the global market.
Crypto market turned volatile following the US CPI inflation data on Wednesday. Owing to four-decade high inflation the Fed is likely to initiate aggressive QT measures which can force investors to move away from risk-ON assets like crypto.
After bagging the VARA license, OKX will be looking to create a global crypto-asset hub in the city of Dubai.
According to the UN, the threats posed by cryptocurrencies overweight their advantages, and the use of cryptos may result in financial instability risks and bring more opportunities for illicit financial activities.
All indicators point to Disney’s vested interest in NFTs and Web3. The choice of companies also serves to underline this fact.
Chamath Palihapitiya spoke on Bitcoin and crypto issues, including inadequate regulation, off-chain transactions and high-risk staking.
Russia is currently facing many sanctions due to its attack on Ukraine. Many major companies have cut ties with the country, and governments globally have imposed sanctions on the nation.
Celsius Networks said that the bankruptcy proceedings will help stabilize its business and create a restructuring plan to return payments to its customers.