While there has been market corrections in cryptocurrency market in 2018, everyone agrees that the very best is yet to come. There have been lots of activities available in the market that have changed the tide for the better. With proper analysis and the proper dose of optimism, bitget anyone who is dedicated to the crypto market can make millions out of it. Cryptocurrency market is here now to keep for the long term. In this information, we offer you five positive factors that can spur further innovation and market value in cryptocurrencies.
1. Innovation in scaling
Bitcoin is the first cryptocurrency in the market. It’s the most number of users and the best value. It dominates the whole 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 comparison, 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 top of blockchain technology, it is possible to boost the transaction volume per second.
2. Legitimate ICOs
While you can find cryptocoins with stable value available in the market, newer coins are being created that are made to serve a specific purpose. Coins like IOTA are intended 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 discovering innovative solutions that disrupt the present market and generate a fresh 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 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 can expect that there may be reasonable conclusions depending on the result of the studies.
Few governments already are taking the route of legalising and regulating crypto markets the same as 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 seem in 2018. This may potentially pave the way for widespread adoption in future
4. Escalation in application
There is enormous enthusiasm for the applying of blockchain technology in just about any industry. Some startups are discovering innovative solutions such as for instance digital wallets, debit cards for cryptocurrencies, etc. this can increase how many merchants that are willing to transact in cryptocurrencies which boost how many users.
The standing of crypto assets as a transaction medium is going to be reinforced as more folks rely upon this system. Even though some startups might not survive, they’ll positively contribute to the entire health of the marketplace creating competition and innovation.
5. Investment from financial institutions
Many international banks are watching the cryptocurrency scene. This may 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 many banks and financial institutions.
Whilst the surprises and bottlenecks around cryptocurrencies reduce, there may well be more uptake from traditional investors. This may lead to lots of dynamism and liquidity much required for any growing financial markets. Cryptocurrency will become the defacto currency for transactions all over the world.