Cryptocurrency

We usually get puzzled and confused looks from newcomers to the cryptosphere when we talk about a centralized party looking into "Blockchain Technology." Or when a consortium of banks tries to find the best solutions using blockchain to stay in the game. Assuming most newcomers count bitcoin as their gateway to cryptocurrencies, they are exposed to a lot of fancies and disruptive words like "decentralized," "open-source," "trustless," etc. The people who stay are swayed away by the hopes and dreams,…

Cryptocurrency is a digital currency managed by using one of the most advanced encryption techniques called cryptography. Bitcoin (BTC) is the first-ever cryptocurrency that came into existence in 2009 but captured the public's attention in 2013. Cryptocurrency has several merits over conventional currency technology - they have a massive potential for returns, fraud-proof, no identity theft, fast processing, and lower transaction fees. Despite these advantages, most governments are against the use of cryptocurrencies. In this article, I will discuss some…

The Inherent Transparency of Blockchains Blockchain is an immutable, distributed, decentralized, and secure digital ledger. As this digital information is accessible to anyone on the Internet, it becomes transparent and incorruptible. In a blockchain, once a transaction is validated through a consensus process, it is also committed to all network ledgers. These ledgers are distributed databases that store the information recorded from a transaction. Transparency is inherent in a Blockchain network. It is easy to misunderstand what transparency means on…

Cryptocurrency got its name because it uses advanced coding and encryption to transmit data. It was created to remove reliance on banks and necessitate peer-to-peer payment transactions. Heavy encryption and coding are necessary to provide secure transactions for purely digital currencies. Crypto transactions require a two-factor authentication process, making it harder for hackers to tamper. However, even with the securities set in place, cryptocurrencies aren't entirely unhackable. One of the most recent hacks was South Korea's Bithumb exchange, where $30…

On the 9th of March 2020, the Human Rights Foundation (HRF) announced it would begin accepting charitable donations in BTC via Twitter. HRF also revealed that it would use the BTCPayServer platform, a completely open-source program, making it impossible to censor transactions. BTCPayserver is a code. In this case, it ensures the transaction’s privacy, and it preserves the qualities of bitcoin that distinguishes it from fiat currencies. UNICEF and Save the Children Charitable Organizations, Accepts Crypto In October 2019, UNICEF…

On the 9th of March 2020, The Crypto exchange Kraken made a revelation that it plans to increase its offerings and services in the Indian financial market. This 9th of March 2020 announcement follows the recent ruling that lifts a ban on crypto trading by India's Supreme Court.  The March 4th ruling has created a much-needed breathing space for India's crypto community. The Supreme Court lifted a long-standing crypto ban by the Reserve bank of India (RBI) on the trade…

OKCoin is currently leading in digital asset exchange, and it operates in about 184 countries. OKCoin, on March 6th, announced the appointment of Tim Byun as OKGroup's GGRO (Global Government Relations Officer).  In similar changes, Hong Fang, OKGroup's current company chairman, was announced as the CEO, changes that will take effect on March 31st, 2020.  Mr. Byun's role in the creation of OKCoin, especially in the US, was excellent, with him propelling the company to launch its first US office.…

Weiss Ratings, a financial agency, shared its take on the role Ethereum plays in the crypto industry. The financial agency stood up to protect the Ethereum blockchain and its ETH coin. Weiss Ratings also rebuked countries like the US and China for wanting to develop CBDCs. The financial agency supports decentralized currencies and not centralized ones. The crypto rating firm also pointed out that the Ethereum network is expanding the cryptocurrency industry. The agency mentioned some of the leading crypto…

Coronavirus outbreak affected two major crypto conferences to happen in the United States. These two conferences are the ‘Bitcoin 2020’ and ‘The DC Blockchain Summit 2020’. The Blockchain 2020, initially scheduled for March 27 and 28 in San Francisco, will occur in the Q3 of 2020. The DC Blockchain Summit scheduled for next week will happen later after further communication. Further Details on the Two Crypto Conferences The Bitcoin 2020 organizers assured all attendees that their conference tickets are still…