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 blockchain payments company, Ripple Labs Inc has announced the launch of its hackathon dubbed Ripple CBDC Innovate challenge as it seeks to power innovation bordering on Central Bank Digital Currencies.
The issuance of the new token is set to begin on June 28 and will likely run until July 1, the company’s whitepaper revealed.
The hackers of the Harmony Horizon Bridge have begun laundering the $100 million in Ethereum and other tokens stolen from the blockchain.
Grayscale CEO has been pressing hard for the SEC to approve its spot Bitcoin ETF application. If the SEC decided otherwise, Grayscale is ready to take up a legal battle with the securities regulator.
Tether Chief Technology Officer, Paolo Ardoino has come out once again to address the attempt by some hedge funds to harm Tether through short selling.
The discussion will continue till June 30. Then, the EU is expected to announce the final decisions at a meeting of representatives from the European Parliament, the European Commission, and the Council of the European Union.
As concerns mount over the recent broader state of the crypto market, more hedge funds are also losing faith in Tether and directly shorting it.
Glassnode has analysed the 2022 bear market and has concluded that it is the worst bear market in crypto’s history.
Catalonia, a northeastern region of Spain is building its own metaverse, as it looks to propel the region to a more digitally aware location.
The hacker group also revealed that it would be looking into the entire history and doings of Do Kwon since he entered the crypto space.
The Harmony Protocol has announced $1 million bounty to the hacker and added that they won’t initiate any criminal proceedings if the hacker returns the funds.
The digital currency ecosystem has slipped into a crypto winter as confirmed by the price of Bitcoin (BTC) which dropped to its 18-month low of $20,178.38 and a combined market capitalization of around $891 billion.
The THORChain protocol is enjoying a RUNE token spike after officially its mainnet launch, following a four-year wait.
Legendary Hip hop rappers, Snoop Dogg and Eminem have a new music video on the way, in which they both featured as Bored Apes from the Bored Ape Yacht Club.
Harmony’s Horizon Bridge has been hacked for the sum of $100 million, becoming the latest of the bridges whose security frailty will be exploited in recent months.