While there were market corrections in cryptocurrency market in 2018, everyone agrees that the most effective is yet to come. There were plenty of activities on the market that have changed the tide for the better. With proper analysis and the right dose of optimism, anyone who’s committed to the crypto market will make millions out of it. Cryptocurrency market is here to remain for the long term. Here in this article, we offer you five positive factors that may spur further innovation and market value in cryptocurrencies.
1. Innovation in scaling
Bitcoin is the initial cryptocurrency in the market. It’s the maximum quantity of users and the best value. It dominates the entire value chain of the cryptocurrency system bitkub. However, it’s not without issues. Its major bottleneck is so it can handle only six to seven transactions per seconds. Compared, 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 top of the blockchain technology, it’s possible to boost the transaction volume per second.
2. Legitimate ICOs
While you can find cryptocoins with stable value on the market, newer coins are being created that are created to serve a particular purpose. Coins like IOTA are meant 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 coming up with innovative solutions that disrupt the existing market and bring in a fresh value in the transactions. They are also gathering authority on the market with their user friendly 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 town at large. We are able to expect that there may be reasonable conclusions according to the result of the studies.
Few governments are actually taking the route of legalising and regulating crypto markets the same as any 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 look in 2018. This may potentially pave the way in which for widespread adoption in future
4. Increase in application
There is enormous enthusiasm for the application form of blockchain technology in practically every industry. Some startups are coming up with innovative solutions such as for instance digital wallets, debit cards for cryptocurrencies, etc. this can increase how many merchants who are ready to transact in cryptocurrencies which boost how many users.
The trustworthiness of crypto assets as a transaction medium is likely to be reinforced as more folks trust in this system. Even though some startups might not survive, they will positively contribute to the entire health of the market creating competition and innovation.
5. Investment from financial institutions
Many international banks are watching the cryptocurrency scene. This could result in 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 several banks and financial institutions.