While there have been market corrections in cryptocurrency market in 2018, everyone agrees that the best is yet to come. There have been a lot of activities available in the market which have changed the tide for the better. With proper analysis and the best dose of optimism, anyone who’s dedicated to the crypto market could make millions out of it. Cryptocurrency market will be here to remain for the long term. Here in this short article, we offer you five positive factors that can spur further innovation and market value in cryptocurrencies.
1. Innovation in scaling
Bitcoin is the very first cryptocurrency in the market. It’s 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 that it can handle only six to seven transactions per seconds. In contrast Goldshell LT5 Litecoin Miner, charge 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 increase the transaction volume per second.
2. Legitimate ICOs
While there are cryptocoins with stable value available in the market, newer coins are being created that are created to serve a certain purpose. Coins like IOTA are meant 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 discovering innovative solutions that disrupt the present market and bring in a fresh value in the transactions. They’re also gathering authority available in the market with their easy 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 current scenario, most governments are studying the impact of cryptocurrencies on the society and how its benefits may be accrued to the city at large. We could expect that there may be reasonable conclusions depending on caused by the studies.
Few governments already are taking the route of legalising and regulating crypto markets exactly like any other market. This can 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 can 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 discovering innovative solutions such as digital wallets, debit cards for cryptocurrencies, etc. this may increase the number of merchants who’re willing to transact in cryptocurrencies which often boost the number of users.
The standing of crypto assets as a transaction medium will be reinforced as more individuals trust in this system. While some startups might not survive, they will positively subscribe 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 could cause the entry of institutional investors into 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.
Because the surprises and bottlenecks around cryptocurrencies reduce, there will be more uptake from traditional investors. This can cause a lot of dynamism and liquidity much needed for any growing financial markets. Cryptocurrency will become the defacto currency for transactions throughout the world.