While there have been market corrections in cryptocurrency market in 2018, everyone agrees that the most effective is yet to come. There have been plenty of activities in the market which have changed the tide for the better. With proper analysis and the right dose of optimism, anyone who’s invested in the crypto market may make millions out of it. Cryptocurrency market is here now to stay for the long term. In this informative article, we offer you five positive factors that will 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 utmost 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 that it are designed for only six to seven transactions per seconds. Compared, credit card transactions average at few thousands per second. Apparently, there’s scope for improvement in the scaling of transactions. With assistance from peer to peer transaction networks on top of the blockchain technology, it’s possible to boost the transaction volume per second.
2. Legitimate ICOs
While there are cryptocoins with stable value on the market, newer coins are now being created that are made to serve a certain purpose. Coins like IOTA are designed to help the Internet Of Things market exchanging power currencies. Some coins address the issue of cybersecurity by providing encrypted digital vaults for storing the money.
New ICOs are picking out innovative solutions that disrupt the prevailing market and make a new value in the transactions. They’re also gathering authority on 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 by providing 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 may be accrued to the community at large. We could 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 exactly like any 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 form of blockchain technology in virtually every industry. Some startups are coming up with innovative solutions such as for example digital wallets, debit cards for cryptocurrencies, etc. this will increase the amount of merchants that are ready to transact in cryptocurrencies which often boost the amount of users.
The reputation of crypto assets as a transaction medium is going to be reinforced as more people trust in this system. However some startups may not survive, they’ll positively contribute to the general health of the market creating competition and innovation.
5. Investment from financial institutions
Many international banks are watching the cryptocurrency scene. This will result in the entry of institutional investors into the market. The inflow of substantial institutional investments will fuel the following phase of growth of the cryptomarkets. It has captured the fancy of numerous banks and financial institutions.