While there were market corrections in cryptocurrency market in 2018, everyone agrees that the very best is yet to come. There have been a lot of activities available in the market which have changed the tide for the higher. With proper analysis and the right dose of optimism, anyone who’s invested in the crypto market could make millions out of it. Cryptocurrency market is here to remain for the long term. Within this article, we give you five positive factors that can spur further innovation and market value in cryptocurrencies.
1. Innovation in scaling
Bitcoin is the first cryptocurrency in the market. It has the maximum amount of users and the best value. It dominates the complete value chain of the cryptocurrency system. However, it is not without issues. Its major bottleneck is that it could handle only six to seven transactions per seconds. Compared, charge card transactions average at few thousands per second. Apparently, there’s scope for improvement in the scaling of transactions. By making use of peer to peer transaction networks along with the blockchain technology, you’ll be able to raise the transaction volume per second.
2. Legitimate ICOs
While you can find cryptocoins with stable value available in the market, newer coins are increasingly being created that can serve a specific purpose. Coins like IOTA are intended to help the web Of Things market exchanging power currencies. Some coins address the issue of cybersecurity giving encrypted digital vaults for storing the amount of money.
New ICOs are coming up with innovative solutions that disrupt the existing market and bring in a new value in the transactions. Bitcoin Cash Token are also gathering authority available in the market with their convenient 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 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 can be accrued to the community at large. We can expect that there could be reasonable conclusions as per the consequence of the studies.
Few governments already are taking the route of legalising and regulating crypto markets just like any other market. This will prevent ignorant retail investors from losing money and protect them from harm. Abling regulations that boost cryptocurrency growth are anticipated to appear in 2018. This will potentially pave just how for widespread adoption in future
4. Increase in application
There is enormous enthusiasm for the application of blockchain technology in virtually every industry. Some startups are coming up with innovative solutions such as digital wallets, debit cards for cryptocurrencies, etc. this can increase the number of merchants who are ready to transact in cryptocurrencies which boost the number of users.
The reputation of crypto assets as a transaction medium will be reinforced as more people trust in this system. Even though some startups may not survive, they will positively contribute 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 can result in 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 has captured the fancy of several banks and financial institutions.