THE LATEST CRYPTO NEWS
More Crypto News
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Crypto News
After an 18% weekly drop, can AVAX halt the correction?
Der Preis von AVAX ist seit dem Allzeithoch von 147 $ um über 80 % gefallen, aber ist er kurz…
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Crypto News
MAYC NFTs surpass $1.5 billion in all-time sales volume
the NFT– Collection is the second in 24 hours. Daily sales volume behind Otherdeed, which has more buyers and transactions…
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Crypto News
Crypto Mass Adoption Is Imminent, But Challenges Must Be Addressed: MasterCard VP Crypto Mass Adoption Is Imminent, But Challenges Must Be Addressed: MasterCard VP
Contrasting with the current downturn in the crypto market, Harold Bossé, vice president and new product development and innovation at…
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Crypto Analytics
Andreessen Horowitz Launches Largest Crypto Fund Ever With $4.5 Billion
Venture capital giant Andreessen Horowitz (a16z) has raised the largest crypto venture fund ever: $4.5 billion. The vehicle, the company’s…
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Crypto News
MKONG combines digital and real community with full transparency
[PRESS RELEASE – Please Read Disclaimer] MemeKong combines the community of meme coins with real utility. The team behind the…
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Crypto News
Balenciaga wants to allow payment processing in crypto
The French luxury giant’s approval of the digital assets not only fills a gap in crypto payments, but also caters…
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Cardano (ADA)
EGO announces a private sale, where Cardano-based EGO comes into play
[PRESS RELEASE – Please Read Disclaimer] Emerging artists, esteemed collectors and NFT-Junkies – it’s time to let your ego shine!…
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Crypto Analytics
Injective Integrates Wormhole Bridge for Cross-Chain Accessibility
Injective’s wormhole integration enables even more sophisticated transmission across the network, the company said According to Eric Chen, CEO of…
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Crypto News
a16z raises $4.5 billion to invest in crypto amid broader market correction
Andreessen Horowitz, aka a16z, has raised $4.5 billion to inject into the cryptocurrency industry through a new fund. Thus, the…
What are cryptocurrencies?
A brief explanation of cryptocurrencies
Cryptocurrencies are an internet-based medium of exchange that uses cryptographic functions to conduct financial transactions. They use blockchain technology to achieve decentralization, immutability and transparency.
According to the latest crypto news, there are thousands of cryptocurrencies out there. However, the most popular ones include Bitcoin, Ethereum, Ripple, Binance Coin, Bitcoin Cash, Tezos, Tron, Litecoin, and EOS, which acquire more than 80% of the total market capitalization.
Decentralized cryptocurrencies like Bitcoin have one major advantage: No single authority can control them. Instead, they are controlled by an algorithm that is preprogrammed and defined. This takes away the human factor and makes the entire network transparent and immutable.
Compared to traditional bank transfers, cryptos can be sent directly between two parties in a quick and inexpensive process. Since there is no central authority or middleman, users can go through the process without having to worry about different rules.
What is bitcoin?
Bitcoin is the first decentralized global digital currency. This means, among other things, that it is completely computerized and has no physical form.
Bitcoin can be sent quickly and securely from any point in the world to another. The only need is an internet connection. Since it is a decentralized coin, the price of Bitcoin on the open market is determined based on supply and demand.
Bitcoin is stored in digital addresses that are common on the internet. It is a cryptographic coin based on encrypted technology (blockchain). Since Bitcoin is decentralized, it is a currency that is not controlled by any central authority such as a government or bank.
Since Bitcoin is an open source project, many developers have contributed and developed the Bitcoin code on a daily basis.