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.
Mike Novogratz remains bullish on Bitcoin and altcoins adoption despite the bearish market.
Celsius Network faces investigation from regulators across five states over its recent decision to suspend customer account withdrawals.
During this week’s crypto market crash, more than 27 million SOL tokens exited the Solana smart contract ecosystem. Solana’s DeFi TVL tanked by $840 million in just the last three days.
Elon Musk and his two major companies are facing a lawsuit from an aggrieved Dogecoin investor who claims Musk cost him several billion dollars.
The figure represents a 400 percent spike in Bitso growth compared to the same time last year.
The price of TRX benefitted from a committed move by the TRON DAO to shield its USDD stablecoin from collapsING following the recent dip.
According to the report, the most redemption among all centralized stablecoins was experienced by Tether.
Garlinghouse also stated that his company has no “no assholes policy”, a statement which many believe was a subtle jab aimed at Kraken CEO Jesse Powell.
Curbing the inflationary growth can indirectly ease off the pressure on the stock market, which is bound to translate to Bitcoin and the hoard of tradable altcoins.
The probation sentencing the BitMEX co-founder excludes him from house arrest and resolves all pending regulatory cases.
The BitBoy camp may not be able to file a class-action lawsuit just yet as Celsius has not yet filed for bankruptcy.
The new code will protect investors by systemizing token listings and delisting.
With a pre-sale price of $1.5, the team behind the project is promising not to permit prices to fall below this level, irrespective of market conditions.
More companies are letting staff go to survive this troubling time, and thousands of people have lost their jobs.
Yahoo plans to explore the effectiveness of immersive technologies in connecting with people regardless of time or location.