While there has been market corrections in cryptocurrency market in 2018, everyone agrees that the very best is yet to come. There have been a lot of activities in the market that have changed the tide for the better. With proper analysis and the best dose of optimism, anyone who is dedicated to the crypto market could make millions out of it. Cryptocurrency market is here now to remain for the long term. In this short article, we give you five positive factors that may spur further innovation and market value in cryptocurrencies cryptocurrency market cap.
1. Innovation in scaling
Bitcoin is the very 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’s not without issues. Its major bottleneck is so it are designed for only six to seven transactions per seconds. In contrast, 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 is possible to improve the transaction volume per second.
2. Legitimate ICOs
While you will find cryptocoins with stable value on the market, newer coins are now 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 giving encrypted digital vaults for storing the money.
New ICOs are picking out innovative solutions that disrupt the prevailing market and generate a fresh value in the transactions. They are also gathering authority available in the market with 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 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 are able to expect that there may be reasonable conclusions depending on the consequence of the studies.
Few governments happen to be taking the route of legalising and regulating crypto markets exactly like every other market. This will 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 may potentially pave just how for widespread adoption in future
4. Escalation in application
There is enormous enthusiasm for the applying of blockchain technology in virtually every industry. Some startups are coming up with innovative solutions such as for instance digital wallets, debit cards for cryptocurrencies, etc. this may increase the number of merchants that are ready to transact in cryptocurrencies which in turn boost the number of users.
The trustworthiness of crypto assets as a transaction medium will soon be reinforced as more people trust in this system. While some startups might not survive, they will positively subscribe to the overall health of industry 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 following phase of growth of the cryptomarkets. It’s captured the fancy of numerous banks and financial institutions.