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.
Celsius Networks said that the bankruptcy proceedings will help stabilize its business and create a restructuring plan to return payments to its customers.
The latest development from the regulatory body reportedly comes after the commission rejected Grayscale’s attempt to convert its Bitcoin trust into an ETF in June.
With the integration of Solana-based dApps, Brave browser users stand to benefit from much lower transaction fees among other things.
Multicoin Capital believes that the best of investment opportunities are available in the bear market. The new venture fund will focus on early-stage and later-stage projects specifically focused on aggregating Web 3 infrastructure, open finance, and decentralized autonomous organizations (DAOs).
Dunamu plans to open offices across major cities, including Busan, Gwangju, Daegu, and Daejeon. These offices will be accessible for local customers to consult on their crypto investments.
Many believe the transition, once completed, will pit Ethereum favorably against Bitcoin, closing their gaps.
Safe further noted that it will use the raised funds to build an ecosystem of applications and wallets by using Safe smart contract accounts via grants and accelerator programs.
Under its project catalyst challenge, COTI has built and developed an application on the Odoo platform allowing e-commerce platforms to accept ADA for payments via the ADA Pay API.
As Grenada’s Ambassador, Sun plans to utilize his expertise in blockchain technology to digitize Grenada’s trade, investment, and governance procedures according to the government of Grenada’s objective.
PicPay follows in line with other big-name Brazilian companies trying to maximize the potential of the crypto sector.
According to the FSB, crypto assets need regulation to comply with as they are predominantly used for speculative purposes.
The NFT marketplace will also enable parties to connect to their own digital asset wallets, including the GameStop Wallet, which was launched recently.
The Mysten blockchain is emerging in two distinct modes, including permitting integrations with existing networks, and open protocols based on Mysten-designed components.
The role of Atomic Lab is to use secure multiparty computation encryption for the wallet.
Citing a major opportunity in UK’s evolving market, Blackfridge launched its new GBP-pegged stablecoin Poundtoken.