While there have been market corrections in cryptocurrency market in 2018, everyone agrees that the very best is yet to come. There were plenty of activities available in the market that 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 keep for the long term. In this short article, we give you five positive factors that will spur further innovation and market value in cryptocurrencies.
Innovation in scaling
Bitcoin is the first cryptocurrency in the market. It's the maximum amount 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 are designed for only six to seven transactions per seconds. Compared, charge card transactions average at few thousands per second. Apparently, there is scope for improvement in the scaling of transactions. With the help of peer to peer transaction networks on the top of blockchain technology, it is possible to improve the transaction volume per second.
Legitimate ICOs
While you will find cryptocoins with stable value available in the market, newer coins are increasingly being created that are designed to serve a certain purpose. Coins like IOTA are meant to help the Internet Of Things market exchanging power currencies. Some coins address the issue of cybersecurity by giving encrypted digital vaults for storing the money.
New ICOs are coming up with innovative solutions that disrupt the prevailing NFT market and bring in a fresh value in the transactions. They're also gathering authority available in the market using 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 by giving more freedom and options to investors in the exchange.
Clarity on regulation
In the current scenario, most governments are studying the impact of cryptocurrencies on the society and how its benefits can be accrued to town at large. We are able to expect that there could be reasonable conclusions depending on the consequence of the studies.
Few governments already are taking the route of legalising and regulating crypto markets exactly like some 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 seem in 2018. This can potentially pave the way in which for widespread adoption in future
Upsurge in application
There is enormous enthusiasm for the application of blockchain technology in practically every industry. Some startups are coming up with innovative solutions such as for example digital wallets, debit cards for cryptocurrencies, etc. this will increase how many merchants who are prepared to transact in cryptocurrencies which boost how many users.
The trustworthiness of crypto assets as a transaction medium is going to be reinforced as more individuals trust in this system. Although some startups might not survive, they'll positively donate to the overall health of the marketplace creating competition and innovation.
Investment from financial institutions
Many international banks are watching the cryptocurrency scene. This can lead to the entry of institutional investors in to the market. The inflow of substantial institutional investments will fuel the following phase of growth of the cryptomarkets. It's captured the fancy of numerous banks and financial institutions.
While the surprises and bottlenecks around cryptocurrencies reduce, there could be more uptake from traditional investors. This can lead to plenty of dynamism and liquidity much required for any growing financial markets. Cryptocurrency will become the defacto currency for transactions all over the world.