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.
In their latest report, Private Shares Fund has marked down BlockFi series E warrants as totally worthless.
What’s interesting is that the deal comes at a time when there is a market downturn.
With more than 48 projects onboard, Polygon is still looking forward to accommodating more.
Celsius has hired Kirkland & Ellis for the restructuring process. Sources said that Celsius is not willing to file for bankruptcy as per the wish of its retail clients.
Yam Finance noticed and stopped a governance attack that would have seen the platform lose control of its treasury if successful.
While the Revulution NFTs will play a multipurpose role in the Revuto ecosystem, they certainly will come with advancing offerings and provisions over time.
The Polium One game console has a pad that looks more closely like what the PlayStation and the Xbox consoles offer but is tailored to feature Web3.0 games.
Additional reports from the analyst stated that this is the most recent in a string of fakeouts that will deceive many traders into thinking the bottom is in when, in fact, the trend is still downward.
The TON Foundation had recently been in news for launching Ethereum Name Service-like domain names.
The current lawsuit casts a shadow of more doubt over the survival of Celsius network.
It is important to note that all qualified users of the Robinhood app who have direct access to the WebWallets functionalities are eligible for this new support.
Defi protocol Aave has announced its intent to create a GHO stablecoin line that would be overcollateralized with yield-generating assets.
Through the Coin98 partnership, Opera Crypto Browser users will now be able to access more Web3 applications which include NFTs and DEXs.
Reddit has stated that the avatars aren’t NFTs. Thus, users do not need an existing crypto wallet to buy them.
LedgerLive is making asset swaps as seamless as possible with its new partnership with FTX.