While there have been market corrections in cryptocurrency market in 2018, everyone agrees that the best is yet to come. There has been lots of activities on the market which have changed the tide for the better. With proper analysis and the right dose of optimism, anyone who is committed to the crypto market can make millions out of it. Cryptocurrency market is here now to remain for the long term. Within this article, we give you five positive factors that will spur further innovation and market value in cryptocurrencies.
1. Innovation in scaling
Bitcoin is the very first cryptocurrency in the market. It has the utmost number of users and the greatest value. It dominates the whole value chain of the cryptocurrency system. However, it’s not without issues. Its major bottleneck is so it are designed for only six to seven transactions per seconds Goldshell LT5 Doge LTC Miner. In contrast, charge card transactions average at few thousands per second. Apparently, there’s scope for improvement in the scaling of transactions. With the help of peer to peer transaction networks on the surface of the blockchain technology, it’s possible to improve the transaction volume per second.
2. Legitimate ICOs
While you will find cryptocoins with stable value on the market, newer coins are increasingly being created that are designed to serve a certain purpose. Coins like IOTA are intended to help the Internet Of Things market exchanging power currencies. Some coins address the issue of cybersecurity giving encrypted digital vaults for storing the money.
New ICOs are coming up with innovative solutions that disrupt the prevailing market and make a fresh value in the transactions. They’re also gathering authority on 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 present scenario, most governments are studying the impact of cryptocurrencies on the society and how its benefits can be accrued to the community at large. We can expect that there might be reasonable conclusions as per caused by the studies.
Few governments are actually taking the route of legalising and regulating crypto markets exactly like some 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 look in 2018. This will potentially pave just how for widespread adoption in future
4. Escalation in application
There’s enormous enthusiasm for the application of blockchain technology in virtually every industry. Some startups are coming up with innovative solutions such as digital wallets, debit cards for cryptocurrencies, etc. this can increase the number of merchants that are prepared to transact in cryptocurrencies which in turn boost the number of users.
The trustworthiness of crypto assets as a transaction medium will soon be reinforced as more people trust in this system. While some startups might not survive, they will positively contribute to the general health of industry creating competition and innovation.
5. Investment from financial institutions
Many international banks are watching the cryptocurrency scene. This could lead to the entry of institutional investors to the market. The inflow of substantial institutional investments will fuel another phase of growth of the cryptomarkets. It has captured the fancy of many banks and financial institutions.
Whilst the surprises and bottlenecks around cryptocurrencies reduce, there will be more uptake from traditional investors. This will lead to lots of dynamism and liquidity much needed for any growing financial markets. Cryptocurrency will end up being the defacto currency for transactions all around the world.