With our blockchain news you are always aware of the latest developments. It is not only very interesting to read about the latest projects, but you can also benefit from it in your future investments. So visit Newsbit regularly.
Why is blockchain news interesting?
Blockchain is one of the technologies that can affect the everyday life of almost everyone. The world is experiencing a trend where people are losing faith in the traditional institutions: church, governments, banks, etc. Not only we say it, but also great sociologists such as Anthony Giddens or Zygmunt Bauman indicate this. Blockchain is a technology that fits perfectly into these frameworks.
It is the foundation of a fairer financial system that is less dependent on banks. It’s about smart contracts, in which, once the contract is signed, scams are nearly impossible in practice, and many other big and small revolutions to come. Anyone interested in how technology affects our lives would be interested in blockchain news.
In addition, we have the investor approach. Blockchain has made room for many cryptocurrencies. This has created a completely new financial market, similar to Forex, but focused on cryptos. Blockchain news can significantly affect the value of cryptos, which is another good reason to stay on top of what’s happening.
What is Blockchain?
Blockchain is a technology that can remove intermediaries and turn everyone in the community into a collaborative intermediary. To perform a bank transfer, you are dependent on your bank and the recipient’s bank, which means that the banks have so much power that they can specify their terms and hardly have to make concessions.
On the other hand, blockchain makes it possible to transfer money thanks to the support of the entire community, so there is no single intermediary who holds all the power. To make the community the middleman, you need several nodes (individuals) that validate a transaction. After the transaction is completed, it is added to a block that is being assembled along with other blocks. All the nodes in the community have the blockchain, so it’s easy to check whether a transaction is legit or not. To cheat the system, you have to control more than half of the nodes in the community, which in practice is almost impossible with the popular cryptos.
So far it looks good, but there is privacy. When the entire community knows your transactions and balance, people know there is something to gain. This could potentially put you at risk. This is where cryptography comes into play. The blockchain encrypts everything in the chain. The nodes know what money belongs to a wallet, but cannot know who owns the wallet. The privacy achieved with this is so great that cryptos have been used to finance criminal organizations.
As a result, governments have tightened their anti-money laundering policies. As a result, you can move a lot of money with cryptos and nobody will know, but serious organizations will register your name when you exchange cryptos for traditional (fiat) currencies.
Is the blockchain limited to money?
New. If you follow blockchain news, you will see that there are many different cryptos. The most famous is Bitcoin and it is actually thought to be an alternative to traditional money. However, there are other cryptos based on the blockchain that are even more ambitious. Such is the case with Ethereum, the blockchain network in which you need Ethers to use. Ethereum is not seen as a substitute for money, but as a basis for further developers such as apps and smart contracts.
Do we already have these real applications? Yes. For example, the Japanese government uses blockchain for its property registry. The goal is to have a public register of all real estate in Japan
Blockchain news related to speculation
In today’s world, the financial market is so big that it exceeds the actual use of things. This means that the value of cryptos today is more dependent on market investments than the use already implemented.
In theory, people invest for a good reason: they think the value of an asset will increase, probably because the technology behind it will be used more over time. However, the volatility of cryptos is so high these years that many investors are attracted to the prospect of huge profitability in a short period of time. While this is true and possible, keep in mind that it could go the other way and you could lose a lot.
If you want to make money with cryptocurrencies investments, you need to be aware of the blockchain news, but these alone are not enough. Here on this page we try to bring you all the relevant blockchain news and news about the cryptos related to blockchain. Keep yourself informed and build your own strategy for investing.
