While there has been market corrections in the cryptocurrency market in 2018, everyone agrees that the best is yet to come. There have been plenty of activities available in the market which have changed the tide for the better. With proper analysis and the best dose of optimism, anyone who is committed to the crypto market will make millions out of it. The cryptocurrency market is here to keep for the long term. In this short article, we offer you five positive factors that may spur further innovation and market value in cryptocurrencies.
1. Innovation in scaling
Bitcoin is the first cryptocurrency in the market. It has the most amount of users and the highest value. It dominates the entire value chain of the cryptocurrency system. However, it is not without issues. Its major bottleneck is that it can handle only six to seven transactions per seconds. In contrast, credit card transactions average at few thousands per second. Apparently, there’s scope for improvement in the scaling of transactions. With assistance from peer to peer transaction networks on the top of blockchain technology, it is possible to increase the transaction volume per second.
2. Legitimate ICOs
While you can find cryptocoins with stable value available in the market, newer coins are increasingly being created that are created to serve a certain purpose. Coins like IOTA are meant to help the Internet Of Things market exchanging power currencies. Some coins address the matter of cybersecurity giving encrypted digital vaults for storing the money.
New ICOs are coming up with innovative solutions that disrupt the prevailing market and bring in a fresh value in the transactions Goldshell LT5 Doge LTC Miner. They are also gathering authority available in the market with their simple to use exchanges and reliable backend operations. They are innovating both on the technology side regarding usage of specialized hardware for mining and financial market side giving more freedom and options to investors in the exchange.
3. Clarity on regulation
In the current scenario, most governments are studying the impact of cryptocurrencies on the society and how its benefits can be accrued to town at large. We can expect that there might be reasonable conclusions as per the consequence of the studies.
Few governments are actually taking the route of legalising and regulating crypto markets just like every other market. This may prevent ignorant retail investors from losing money and protect them from harm. Abling regulations that boost cryptocurrency growth are expected to appear in 2018. This may potentially pave the way in which for widespread adoption in future
4. Upsurge in application
There’s enormous enthusiasm for the applying of blockchain technology in practically every industry. Some startups are coming up with innovative solutions such as for instance digital wallets, debit cards for cryptocurrencies, etc. this can increase the number of merchants who are ready to transact in cryptocurrencies which often boost the number of users.
The standing of crypto assets as a transaction medium is likely to be reinforced as more folks trust in this system. While some startups may not survive, they will positively subscribe to the entire health of industry creating competition and innovation.
5. Investment from financial institutions
Many international banks are watching the cryptocurrency scene. This will lead to the entry of institutional investors in to the market. The inflow of substantial institutional investments will fuel the next phase of growth of the cryptomarkets. It has captured the fancy of many banks and financial institutions.
As the surprises and bottlenecks around cryptocurrencies reduce, there will be more uptake from traditional investors. This may lead to plenty of dynamism and liquidity much required for any growing financial markets. Cryptocurrency will end up being the defacto currency for transactions all around the world.