Cryptocurrencies are established on cryptography. This is why developments in cryptography often have wide-reaching impacts on blockchain technology as a whole. This article examines some opinions of industry experts on what the latest advances in cryptography are and what the implication is for cryptocurrencies.
There have been several movements into payments over the past year. More users are beginning to explore the use of cryptocurrency in payments. Interestingly, more altcoins are also coming for bitcoin (BTC). Ethereum, EOS, ADA, EOS, XRP, and several other altcoins that were considered initially as only utility tokens are now being considered as payment options. Several third-parties are also beginning to build payment services around them.
Recently, there has been a recent debate in the world of cryptocurrency about the possibility of control, censorship, and surveillance in cryptocurrency. Using Bitcoin as a model, there was a recent debate on cryptoverse about the topic, and some top stakeholders in the cryptocurrency world were part of the conversation.
Recently, Bitcoin took an unprecedented dive. The coin plunged by about $600 in only a few minutes. However, as minor as it might seem, the plunge led to about 15 of the 20 largest crypto assets go down by about 5% from the previous day.
The price drop was noted to have started around 21:45 UTC. Within an hour, Bitcoin dropped $800. This plunge in the price of Bitcoin led had some severe effects. For one, reports predict that over $100 million was liquidated in terms of long contracts on only BitMEX during the time of this plunge. Also, Joe Vezzani, founder of LunarCRUSH, a crypto social analytics platform, reiterated witnessing some 7-10 million liquidate longs come through.
Bitcoin was founded over a decade ago, and since the inception of the
cryptocurrency, it has stood the test of time and is still currently a
major coin in the cryptocurrency industry despite several others that
have emerged after its development by Satoshi. Over the past decade,
several changes have occurred to bitcoin in trying to make it better
suited for mainstream adoption. This article explores Bitcoin’s files
and how the whole thing started.