While there were market corrections in cryptocurrency market in 2018, everyone agrees that the very best is yet to come. There has been plenty of activities available in the market that have changed the tide for the better. With proper analysis and the right dose of optimism, anyone who’s committed to the crypto market may make millions out of it. Cryptocurrency market is here now to remain for the long term. Within this information, we offer you five positive factors that can spur further innovation and market value in cryptocurrencies
cryptocurrency market .
1. Innovation in scaling
Bitcoin is the initial cryptocurrency in the market. It’s the maximum number 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 so it can handle only six to seven transactions per seconds. In contrast, credit card transactions average at few thousands per second. Apparently, there is scope for improvement in the scaling of transactions. With the aid of peer to peer transaction networks on the surface of the blockchain technology, it’s possible to increase the transaction volume per second.
2. Legitimate ICOs
While you will find cryptocoins with stable value available in the market, newer coins are increasingly being created that are designed to serve a particular purpose. Coins like IOTA are designed to help the Internet Of Things market exchanging power currencies. Some coins address the problem of cybersecurity giving encrypted digital vaults for storing the money.
New ICOs are discovering innovative solutions that disrupt the existing market and make a fresh value in the transactions. They’re also gathering authority available in the market using their simple to use exchanges and reliable backend operations. They’re 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 could be accrued to the community at large. We are able to expect that there may be reasonable conclusions as per caused by the studies.
Few governments are already taking the route of legalising and regulating crypto markets just like any other market. This will prevent ignorant retail investors from losing money and protect them from harm. Abling regulations that boost cryptocurrency growth are expected to seem in 2018. This will potentially pave the way in which for widespread adoption in future
4. Increase in application
There is enormous enthusiasm for the applying of blockchain technology in just about any industry. Some startups are coming up with innovative solutions such as for instance digital wallets, debit cards for cryptocurrencies, etc. this may increase the amount of merchants who are prepared to transact in cryptocurrencies which often boost how many users.
The trustworthiness of crypto assets as a transaction medium will be reinforced as more folks trust in this system. However some startups might not survive, they will positively donate to the entire health of industry creating competition and innovation.
5. Investment from financial institutions
Many international banks are watching the cryptocurrency scene. This can result in 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’s captured the fancy of numerous banks and financial institutions.