While there were market corrections in cryptocurrency market in 2018, everyone agrees that the best is yet to come. There has been lots of activities in the market which have changed the tide for the better. With proper analysis and the best dose of optimism, anyone who’s committed to the crypto market may make millions out of it. Cryptocurrency market is here now to keep for the long term. Within this informative article, we offer you five positive factors that could spur further innovation and market value in cryptocurrencies cryptocurrency market.
1. Innovation in scaling
Bitcoin is the first cryptocurrency in the market. It’s the maximum amount of users and the highest value. It dominates the entire value chain of the cryptocurrency system. However, it’s not without issues. Its major bottleneck is that it are designed for 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 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 in the market, newer coins are now being created that are created to serve a specific purpose. Coins like IOTA are designed to help the Internet Of Things market exchanging power currencies. Some coins address the matter of cybersecurity by providing encrypted digital vaults for storing the money.
New ICOs are picking out innovative solutions that disrupt the prevailing market and generate a brand new value in the transactions. They’re also gathering authority on the market with their easy 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 present 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 may be reasonable conclusions according to the result of the studies.
Few governments happen to be taking the route of legalising and regulating crypto markets exactly like some 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 just how for widespread adoption in future
4. Escalation in application
There’s enormous enthusiasm for the applying of blockchain technology in virtually every industry. Some startups are picking out innovative solutions such as for example digital wallets, debit cards for cryptocurrencies, etc. this will increase the number of merchants that are willing to transact in cryptocurrencies which often boost how many users.
The standing of crypto assets as a transaction medium is going to be reinforced as more folks trust in this system. Even though some startups might not survive, they’ll positively contribute to the general health of the marketplace creating competition and innovation.
5. Investment from financial institutions
Many international banks are watching the cryptocurrency scene. This could cause 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 has captured the fancy of many banks and financial institutions.