{"id":2036,"date":"2021-02-25T20:20:29","date_gmt":"2021-02-25T14:50:29","guid":{"rendered":"https:\/\/www.wikitechupdates.com\/?p=2036"},"modified":"2021-02-25T20:41:38","modified_gmt":"2021-02-25T15:11:38","slug":"current-developments-in-the-cryptocurrency-world","status":"publish","type":"post","link":"https:\/\/www.wikitechupdates.com\/current-developments-in-the-cryptocurrency-world\/","title":{"rendered":"Surprising Current Developments in the Cryptocurrency World"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">Cryptocurrency has been around for over a decade now, and the most surprising aspect of it is that things continually change and update. The technology has fundamentally not changed since the original cryptocurrency Bitcoin blasted onto the scene. What is changing all around that is the way technology and currencies are used. Here are some surprising developments we have seen in recent times in the cryptocurrency world.<\/span><\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_58 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<p class=\"ez-toc-title\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-655dcdbc1d8e9\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-655dcdbc1d8e9\"  aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/www.wikitechupdates.com\/current-developments-in-the-cryptocurrency-world\/#Uses_of_Blockchain_Technology\" title=\"Uses of Blockchain Technology\">Uses of Blockchain Technology<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/www.wikitechupdates.com\/current-developments-in-the-cryptocurrency-world\/#Values_Still_Rise\" title=\"Values Still Rise\">Values Still Rise<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/www.wikitechupdates.com\/current-developments-in-the-cryptocurrency-world\/#Going_Mainstream\" title=\"Going Mainstream\">Going Mainstream<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/www.wikitechupdates.com\/current-developments-in-the-cryptocurrency-world\/#The_Law_has_its_Say\" title=\"The Law has its Say.\">The Law has its Say.<\/a><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Uses_of_Blockchain_Technology\"><\/span><b>Uses of Blockchain Technology<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Cryptocurrency is fundamentally secured using blockchain technology. Blockchain works ingeniously; the chain is a ledger where all transactions on the network are processed and made secure. The beauty of this process is that it is as close to unhackable as a system can be; if a block in the chain is altered, or missing it would be immediately apparent. This impressive technology is being used in <\/span><a href=\"https:\/\/www.wikitechupdates.com\/how-blockchain-technology-could-transform-the-food-industry\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">tracking and security in industries as surprising as the food and drinks trade.<\/span><\/a><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Values_Still_Rise\"><\/span><b>Values Still Rise<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Despite some notable dips, such as the famous <\/span><a href=\"https:\/\/medium.com\/coinmonks\/why-oh-why-did-bitcoin-crash-just-in-time-for-thanksgiving-49c142a7a841\" target=\"_blank\" rel=\"nofollow noopener\"><span style=\"font-weight: 400;\">Bitcoin fall in the value of 2017<\/span><\/a><span style=\"font-weight: 400;\">, cryptocurrencies continue to show some robustness and generally are still rising in value. We can attribute this to a few factors; cryptocurrencies are beginning to see a public acceptance, major retailers and financial institutions are starting to engage with them. By their very nature, cryptocurrencies are limited in number for each denomination, and scarcity always gives value.<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Going_Mainstream\"><\/span><b>Going Mainstream<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">As previously mentioned, the public profile of cryptocurrencies, especially Bitcoin, has risen exponentially. The very fact that something is subject to discussion in a positive light on major news networks and radio stations gives it more gravity than it previously held. Adding this to the fact that trusted big brands such as Microsoft, Tesla, and Burger King now accept Bitcoin, people see it as a legitimate payment method. Anyone can now easily <\/span><a href=\"https:\/\/paxful.com\/buy-bitcoin\/any-creditdebit-card\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">buy Bitcoin with debit cards<\/span><\/a><span style=\"font-weight: 400;\"> and spend them in a variety of settings. From a retailer&#8217;s point of view, you can now accept Bitcoin payments alongside other traditional methods via many card processing vendors.\u00a0<\/span><\/p>\n<blockquote>\n<p style=\"text-align: right;\"><strong>Also Read<\/strong>: <a href=\"https:\/\/www.wikitechupdates.com\/what-are-cryptocurrency-exchanges\/\" target=\"_blank\" rel=\"noopener\">What are cryptocurrency exchanges?<\/a><\/p>\n<\/blockquote>\n<h2><span class=\"ez-toc-section\" id=\"The_Law_has_its_Say\"><\/span><b>The Law has its Say.<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Governments, tax offices, and law enforcement didn&#8217;t know how to react to the new currencies when they first emerged, with many places not recognizing it, or even banning it. But what these strategies actually achieved was allowing cryptocurrencies to exist somewhat outside of the legal system. If cryptocurrency is not legally currency, then it must be classed as a possession rather than as funds, this presents certain difficulties for prosecuting crimes such as fraud; how can it be fraud if no transaction took place? Collecting taxes was proving to be difficult as well; if the crypto-coins are possessions then they could be argued to be either stock or assets, and not taxable profits. Governments are now beginning to tighten these loopholes to prosecute criminals and collect taxes from profitable businesses. A by-product of this tightening of legislation is that cryptocurrency is inadvertently given an official stamp while remaining an alternative option.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">This article has been contributed on behalf of Paxful. However, the information provided herein is not and is not intended to be, investment, financial, or other advice.\u00a0<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Cryptocurrency has been around for over a decade now, and the most surprising aspect of<\/p>\n","protected":false},"author":1,"featured_media":2037,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_newsletter_tier_id":0,"footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false}}},"categories":[16],"tags":[3493,3490,541,534,3488,3492,3491,3489],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/www.wikitechupdates.com\/wp-content\/uploads\/2021\/02\/pexels-worldspectrum-844124-scaled.jpg?fit=2560%2C1578&ssl=1","jetpack_sharing_enabled":true,"jetpack_likes_enabled":true,"jetpack-related-posts":[{"id":3348,"url":"https:\/\/www.wikitechupdates.com\/paypal-launches-dollar-backed-cryptocurrency\/","url_meta":{"origin":2036,"position":0},"title":"PayPal launches dollar-backed cryptocurrency","author":"Admin","date":"15 November 2023","format":false,"excerpt":"PayPal has taken a bold step forward into the future of digital payments with the launch of its own backed and regulated stablecoin, the PayPal USD (PYUSD).\u00a0In an announcement that marks a milestone in the evolution of digital transactions, PayPal is driving the adoption of stablecoins as a trusted solution\u2026","rel":"","context":"In &quot;Latest Updates&quot;","block_context":{"text":"Latest Updates","link":"https:\/\/www.wikitechupdates.com\/category\/latest-updates\/"},"img":{"alt_text":"PayPal launches dollar-backed cryptocurrency","src":"https:\/\/i0.wp.com\/www.wikitechupdates.com\/wp-content\/uploads\/2023\/11\/PayPal-launches-dollar-backed-cryptocurrency.png?fit=1200%2C669&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.wikitechupdates.com\/wp-content\/uploads\/2023\/11\/PayPal-launches-dollar-backed-cryptocurrency.png?fit=1200%2C669&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.wikitechupdates.com\/wp-content\/uploads\/2023\/11\/PayPal-launches-dollar-backed-cryptocurrency.png?fit=1200%2C669&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.wikitechupdates.com\/wp-content\/uploads\/2023\/11\/PayPal-launches-dollar-backed-cryptocurrency.png?fit=1200%2C669&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/www.wikitechupdates.com\/wp-content\/uploads\/2023\/11\/PayPal-launches-dollar-backed-cryptocurrency.png?fit=1200%2C669&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":2532,"url":"https:\/\/www.wikitechupdates.com\/best-cryptocurrency-subreddits-to-engage-in-2022\/","url_meta":{"origin":2036,"position":1},"title":"Best cryptocurrency subreddits to engage in 2022","author":"Admin","date":"21 March 2022","format":false,"excerpt":"With cryptocurrency rising to popularity with the advent of every new innovation, nothing has escaped this value of crypto in the present world. Whenever it concerns the coinage\u00a0space, there has been much speaking\u00a0and seen. Along with\u00a0these reasons, virtual currency subs\u00a0is a word that\u00a0has been circulating for a long\u00a0period. Subs are\u2026","rel":"","context":"In &quot;General&quot;","block_context":{"text":"General","link":"https:\/\/www.wikitechupdates.com\/category\/general\/"},"img":{"alt_text":"Best cryptocurrency subreddits to engage","src":"https:\/\/i0.wp.com\/www.wikitechupdates.com\/wp-content\/uploads\/2022\/03\/Best-cryptocurrency-subreddits-to-engage.jpg?fit=1200%2C553&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.wikitechupdates.com\/wp-content\/uploads\/2022\/03\/Best-cryptocurrency-subreddits-to-engage.jpg?fit=1200%2C553&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.wikitechupdates.com\/wp-content\/uploads\/2022\/03\/Best-cryptocurrency-subreddits-to-engage.jpg?fit=1200%2C553&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.wikitechupdates.com\/wp-content\/uploads\/2022\/03\/Best-cryptocurrency-subreddits-to-engage.jpg?fit=1200%2C553&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/www.wikitechupdates.com\/wp-content\/uploads\/2022\/03\/Best-cryptocurrency-subreddits-to-engage.jpg?fit=1200%2C553&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":2490,"url":"https:\/\/www.wikitechupdates.com\/fiat-currencies-for-trading-bitcoins\/","url_meta":{"origin":2036,"position":2},"title":"The most-traded fiat currencies for trading Bitcoins","author":"Admin","date":"14 February 2022","format":false,"excerpt":"Bitcoins had been introduced to the world in 2009 as the currency of the future and as an alternative to the fiat money that has been in use for ages. Fiat money is the legal tender issued by a government decree or simply the currency that is used for all\u2026","rel":"","context":"In &quot;Marketing&quot;","block_context":{"text":"Marketing","link":"https:\/\/www.wikitechupdates.com\/category\/marketing\/"},"img":{"alt_text":"The most-traded fiat currencies for trading Bitcoins","src":"https:\/\/i0.wp.com\/www.wikitechupdates.com\/wp-content\/uploads\/2022\/02\/How-to-Find-it-1536x966-1.jpg?fit=1200%2C755&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.wikitechupdates.com\/wp-content\/uploads\/2022\/02\/How-to-Find-it-1536x966-1.jpg?fit=1200%2C755&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.wikitechupdates.com\/wp-content\/uploads\/2022\/02\/How-to-Find-it-1536x966-1.jpg?fit=1200%2C755&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.wikitechupdates.com\/wp-content\/uploads\/2022\/02\/How-to-Find-it-1536x966-1.jpg?fit=1200%2C755&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/www.wikitechupdates.com\/wp-content\/uploads\/2022\/02\/How-to-Find-it-1536x966-1.jpg?fit=1200%2C755&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":903,"url":"https:\/\/www.wikitechupdates.com\/what-are-cryptocurrency-exchanges\/","url_meta":{"origin":2036,"position":3},"title":"What are cryptocurrency exchanges?","author":"Admin","date":"1 May 2020","format":false,"excerpt":"Cryptocurrency is in constant motion. Many people own some type of digital currency, and day after day, new people join the group of crypto investors or sell their cryptocurrencies to acquire fiat money. This fact has led to the emergence of platforms that serve precisely to make this business between\u2026","rel":"","context":"In &quot;Marketing&quot;","block_context":{"text":"Marketing","link":"https:\/\/www.wikitechupdates.com\/category\/marketing\/"},"img":{"alt_text":"cryptocurrency exchanges","src":"https:\/\/i0.wp.com\/www.wikitechupdates.com\/wp-content\/uploads\/2020\/05\/cryptocurrency-exchange.jpeg?fit=703%2C399&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.wikitechupdates.com\/wp-content\/uploads\/2020\/05\/cryptocurrency-exchange.jpeg?fit=703%2C399&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.wikitechupdates.com\/wp-content\/uploads\/2020\/05\/cryptocurrency-exchange.jpeg?fit=703%2C399&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.wikitechupdates.com\/wp-content\/uploads\/2020\/05\/cryptocurrency-exchange.jpeg?fit=703%2C399&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":2235,"url":"https:\/\/www.wikitechupdates.com\/best-crypto-wallet-and-how-to-use\/","url_meta":{"origin":2036,"position":4},"title":"How to choose the best Crypto wallet and how to use the money","author":"Admin","date":"10 August 2021","format":false,"excerpt":"Cryptocurrency, the wave of the future, has enticed many. Investors are hoping to cash in on the increasing value of cryptocurrency, and business owners hope to accept and use cryptocurrency for transactions. The upward trend surrounding cryptocurrency is not going away, so anyone who has even the slightest interest in\u2026","rel":"","context":"In &quot;Business&quot;","block_context":{"text":"Business","link":"https:\/\/www.wikitechupdates.com\/category\/business\/"},"img":{"alt_text":"How to choose the best crypto wallet and how to use the money","src":"https:\/\/i0.wp.com\/www.wikitechupdates.com\/wp-content\/uploads\/2021\/08\/How-to-choose-the-best-crypto-wallet-and-how-to-use-the-money.jpg?fit=1200%2C974&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.wikitechupdates.com\/wp-content\/uploads\/2021\/08\/How-to-choose-the-best-crypto-wallet-and-how-to-use-the-money.jpg?fit=1200%2C974&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.wikitechupdates.com\/wp-content\/uploads\/2021\/08\/How-to-choose-the-best-crypto-wallet-and-how-to-use-the-money.jpg?fit=1200%2C974&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.wikitechupdates.com\/wp-content\/uploads\/2021\/08\/How-to-choose-the-best-crypto-wallet-and-how-to-use-the-money.jpg?fit=1200%2C974&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/www.wikitechupdates.com\/wp-content\/uploads\/2021\/08\/How-to-choose-the-best-crypto-wallet-and-how-to-use-the-money.jpg?fit=1200%2C974&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":2647,"url":"https:\/\/www.wikitechupdates.com\/how-smart-contract-technology-works-in-the-bitcoin-network\/","url_meta":{"origin":2036,"position":5},"title":"How smart contract technology works in the bitcoin network","author":"Admin","date":"15 November 2022","format":false,"excerpt":"The digital currency bitcoin, which is the biggest innovation in the current economic society, uses some modern technologies, and smart contract is one of them. This network's amazing features are decentralization, Peer-to-peer fund transfer, Blockchain system, cryptographic encryption, etc. These features make the whole network transparent, reliable, secure, and easy\u2026","rel":"","context":"In &quot;Marketing&quot;","block_context":{"text":"Marketing","link":"https:\/\/www.wikitechupdates.com\/category\/marketing\/"},"img":{"alt_text":"How smart contract technology works in the bitcoin network","src":"https:\/\/i0.wp.com\/www.wikitechupdates.com\/wp-content\/uploads\/2022\/11\/Bitcoin-network.jpeg?fit=631%2C486&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.wikitechupdates.com\/wp-content\/uploads\/2022\/11\/Bitcoin-network.jpeg?fit=631%2C486&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.wikitechupdates.com\/wp-content\/uploads\/2022\/11\/Bitcoin-network.jpeg?fit=631%2C486&ssl=1&resize=525%2C300 1.5x"},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.wikitechupdates.com\/wp-json\/wp\/v2\/posts\/2036"}],"collection":[{"href":"https:\/\/www.wikitechupdates.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.wikitechupdates.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.wikitechupdates.com\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.wikitechupdates.com\/wp-json\/wp\/v2\/comments?post=2036"}],"version-history":[{"count":1,"href":"https:\/\/www.wikitechupdates.com\/wp-json\/wp\/v2\/posts\/2036\/revisions"}],"predecessor-version":[{"id":2038,"href":"https:\/\/www.wikitechupdates.com\/wp-json\/wp\/v2\/posts\/2036\/revisions\/2038"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.wikitechupdates.com\/wp-json\/wp\/v2\/media\/2037"}],"wp:attachment":[{"href":"https:\/\/www.wikitechupdates.com\/wp-json\/wp\/v2\/media?parent=2036"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.wikitechupdates.com\/wp-json\/wp\/v2\/categories?post=2036"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.wikitechupdates.com\/wp-json\/wp\/v2\/tags?post=2036"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}