The world of blockchain technology has embraced the concept of cryptocurrency, and Google, a multinational Internet-related corporation that deals with virtual products, has recently announced that it will block ads related to cryptocurrency. Google has made this decision in order to increase safety and promote greater security. To do this, it is removing extensions related to crypto products, such as crypto mining scripts. Existing extensions will be removed by the end of July 2018.
Bitcoin is the world’s first open-source decentralized cryptocurrency
Bitcoin is a digital currency designed to work as an alternative to traditional money. Ultimately, the system aims to become legal tender and be used worldwide for transactions. Its decentralized design allows for all users to participate without any restrictions or centralized authority. The bitcoin network is open-source, so anyone can view and participate in it. The Bitcoin network was developed in 2009 and is still one of the most widely used digital currencies today.
Bitcoin is subject to fluctuations in value based on demand and supply
Cryptocurrency prices fluctuate due to supply and demand factors. When demand for an item exceeds supply, its price goes up. In the same way, produce and grains rise in price if drought hits a region. This same logic applies to Bitcoin. If demand is higher than supply, the price of the digital currency will increase. A few simple steps can help you understand the dynamics of the Bitcoin price.
Google parent Alphabet has invested $1.5 billion in the blockchain industry
A recent report shows that Alphabet, the parent company of Google, has pumped more money into the blockchain industry than any other publicly-traded company. Google invested $601.4 million in 17 blockchain companies in the first half of last year, and now has invested nearly twice that much. But why is Alphabet focusing on these four blockchain startups? Read on to learn more about the company’s investment strategy.
Also Read : Regulation, ICOs, Darknet Markets, and Scams in the Cryptocurrency Market
Bitcoin has climbed 9 per cent in the past few months
The latest news has given bitcoin bulls a reason to celebrate after it has climbed more than nine per cent in the past few months. A recent job posting from Amazon sparked speculation about whether the online retailer would start accepting bitcoin payments in the near future. While the online retailer later denied the reports, Square revealed it would soon release a bitcoin hardware wallet. Bitcoin is currently at about $10,000 per coin.
Tornado Cash has laundered more than $7 billion worth of virtual currency
The US Treasury Department has blacklisted Tornado Cash for laundering more than seven billion dollars in virtual currency. The US Treasury Department’s Office of Foreign Assets Control (OFAC) has deemed Tornado Cash to be a significant threat to national security. The US government has also prohibited transactions with Tornado Cash by US residents, and it has ordered anyone who wishes to use this currency to apply for a license from OFAC.
