While there has been market corrections in cryptocurrency market in 2018, everyone agrees that the very best is yet to come. There has been lots of activities available in the market which have changed the tide for the better. With proper analysis and the proper dose of optimism, anyone who is invested in the crypto market could make millions out of it. Cryptocurrency market is here now to keep for the long term. In this short article, we give you five positive factors that may spur further innovation and market value in cryptocurrencies.
1. Innovation in scaling
Bitcoin is the initial cryptocurrency in the market. It’s the maximum quantity 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. Compared Goldshell LT5 Doge Miner, charge 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 top of blockchain technology, it is possible to boost the transaction volume per second.
2. Legitimate ICOs
While there are cryptocoins with stable value available in the market, newer coins are now being created that are designed to serve a particular purpose. Coins like IOTA are intended 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 picking out innovative solutions that disrupt the existing market and generate a new value in the transactions. They are also gathering authority available in the market using 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 today’s scenario, most governments are studying the impact of cryptocurrencies on the society and how its benefits could 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 look in 2018. This may potentially pave the way for widespread adoption in future
4. Increase in application
There is enormous enthusiasm for the application of blockchain technology in practically every industry. Some startups are picking out innovative solutions such as for instance digital wallets, debit cards for cryptocurrencies, etc. this can increase the number of merchants that are willing to transact in cryptocurrencies which boost the number of users.
The trustworthiness of crypto assets as a transaction medium will undoubtedly be reinforced as more individuals trust in this system. However some startups may not survive, they’ll positively subscribe to the overall 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 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 several banks and financial institutions.
Since the surprises and bottlenecks around cryptocurrencies reduce, there could be more uptake from traditional investors. This may 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 over the world.