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.
Coinbase said that its users will be easily able to move assets across Solana and Polygon at less gas costs, just by funding their wallets on these blockchain networks.
Solana will have its native decentralized application (Dapp) store dubbed Solana Mobile Stack featuring other Web 3 applications as well. It will come with a built-in hardware wallet, seed vault for storing private keys, and much more.
Bitcoin miner Crusoe Energy Systems has acquired electrical manufacturer Easter-Owens Electric Co after many years of cooperation between both companies.
The first NFT collection of Ronaldo will start selling on Binance later this year.
Blockchain gaming startup, Emergent Games has announced it will be launching its first Alternate Reality Game (ARG) dubbed The End.
The NHL is launching the NFT collection to focus on hockey, following in the footsteps of other leagues like the NBA, NFL, and MLB.
American cryptocurrency trading platform Coinbase has announced plans to close down its advanced trading platform, Coinbase Pro by the end of the year.
The recent collaboration will help the Cardano Foundation to take further its goal of driving the adoption of blockchain technology to a vibrant open-source community.
The NFT line is the plan Bentley has to impress itself in the budding Web3 and broader metaverse space. Bentley will only release 208 pieces.
Terra Bitcoin Mining Pool has finally launched to the general public, a joint project between Bitcoin miner Argo and Canada-based DMG Blockchain Solutions.
The Ethereum Foundation (EF) has announced its plans to shut down three of its major testnets after the much anticipated “The Merge” event that will transition the protocol fully to a Proof-of-Stake (PoS) model.
Following the collapse of both the UST stablecoin and Terra’s native token Luna last month, Terraform Labs CEO Do Kwon is confident about rebuilding the Terra blockchain.
Fed Chairman said that cryptocurrencies don’t have any major implications on the US financial system so far. However, Chairman Powell demanded a stronger regulatory framework.
Canadian multinational e-commerce company Shopify announced the launch of “Tokengated Commerce” for brands.
The competition amongst crypto service providers in the United States is becoming real with Binance.US cutting trading fees for select Bitcoin (BTC) trading pairs.