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 news of the Nothing NFT project precedes the long-awaiting Phone (1) launch. The Nothing Phone (1) is the company’s first smartphone.
In a bid to uncover how NFT transactions may impact the XRPL, the developer team set out to test the ledger’s capacity.
The Bank of England has said that considering the current crypto mayhem, stricter market rules are essential in order to avoid any major risks to financial stability.
According to reports, the MSB license grants HBIT the approval to transmit money and operate as a fiat currency exchange.
The crypto industry has lost two-thirds of its market capitalization in eight months.
Bitcoin mining giant Core Scientific has to sell more than 85% of its BTC holdings last month to repay other scheduled debts and cover operational costs.
Many crypto-related firms have recently had their very existence rattled to their cores as a result of the wider market crash, and one of such is Voyager Digital.
According to the email, Russian citizens or residents will not be able to access BitMEX services from the European Union from July 11.
The launch of Bitmain AntMiner E9 comes a year after the announcement. Also, the launch comes just before Ethereum’s move to the Proof-of-Stake blockchain raising doubts over its future sales.
French MEP Aurore Lalucq’s main concern is money laundering and other criminal practices. Therefore, she wants to see more regulation of the cryptocurrency sector.
At the Federal Reserve conference on the digital dollar, panelists said that a proper crypto regulatory framework should come first.
The mini-rally recorded in the last 24 hours is believed to have been caused by the positive movement in Total Value Locked across Ethereum as well as improved on-chain activities.
Shortly after Vauld announced withdrawals suspension, Nexo revealed it signed an indicative term sheet. The company also mentioned the plan to acquire Vauld.
Ever since Bitcoin price dropped to current levels of around $20k, miners are rewarded approximately $120,000 per successful mined block.
While CoinLoan makes temporary changes to the withdrawal limit, the lending company assures customers of the security of their assets.