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.
Tether appears set to roll out a new stablecoin, this time pegged to the British pound. The new stablecoin will be Tether’s fifth.
Binance.US, the US arm of the Binance crypto exchange, is targeting additional funding of $50 million.
The recent liquidation of 3000 BTC comes in order to pay back the $100 million loan to Galaxy Digital. Bitfarms said that the financial liquidity will help them in this period of macroeconomic crypto challenges.
The company behind the ETH-based decentralized exchange Uniswap, Uniswap Labs, has acquired NFTs marketplace aggregator Genie.
With the impacts of the ongoing cryptocurrency market meltdown biting most crypto lenders very hard, outfits like BlockFi have sought out a solution from FTX Derivatives Exchange.
Since both Deloitte and NYDIG have been attracted to Bitcoin, their partnership is expected to speed up blockchain adoption while ensuring compliance with the existing crypto regulation.
According to the network’s developers, the Cardano Vasil hard fork will be delayed until later to fix operational glitches.
In addition to burning its tokens, Tether also announced an audit with 12 leading companies to ensure the transparency of its USDT reserves.
Due to the current market downturn, crypto firms are avoiding new sports partnership deals that would likely cost them a huge amount of cash.
In the biggest selloff in Bitcoin history, Bitcoin investors have lost over $7 billion over three days.
On June 20, Philip Rusnack, an NFT expert and a YouTube investigator, released a new video where he alleges that Yuga Labs’ Bored Ape Yacht Club (BAYC) NFT collection has racist connotations with its use of language, symbols, and memes.
Sepolia was launched in October 2021 and was confirmed by Core Ethereum developer Tim Beiko that Ropsten would more likely phase out.
The government of Ukraine has sold the donated CryptoPunks #5364 which it received from an anonymous donor months ago.
The ProShares Short Bitcoin Strategy ETF (BITI) will allow users to profit from Bitcoin’s declining prices. It will also provide users with a hedge to their crypto exposure via an ETF.
With the current delicate nature of the digital currency ecosystem, Solend is doing all it can to pacify all of its stakeholders while dealing with a liquidation threat from a whale account.