While there were market corrections in cryptocurrency market in 2018, everyone agrees that the best is yet to come. There has been plenty of activities on the market which 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. Within 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 has the utmost amount of users and the best value. It dominates the entire value chain of the cryptocurrency system. However, it’s not without issues. Its major bottleneck is so it can handle only six to seven transactions per seconds. Compared Goldshell LT5 Dogecoin, charge card transactions average at few thousands per second. Apparently, there’s 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 increase the transaction volume per second.
2. Legitimate ICOs
While you will find cryptocoins with stable value on the market, newer coins are increasingly 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 giving encrypted digital vaults for storing the money.
New ICOs are discovering innovative solutions that disrupt the present market and generate a brand new value in the transactions. They’re also gathering authority on 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.
3. Clarity on regulation
In the current scenario, most governments are studying the impact of cryptocurrencies on the society and how its benefits could be accrued to town at large. We can expect that there may 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 may prevent ignorant retail investors from losing money and protect them from harm. Abling regulations that boost cryptocurrency growth are expected to appear in 2018. This may potentially pave the way in which for widespread adoption in future
4. Escalation in application
There is enormous enthusiasm for the application of blockchain technology in virtually every industry. Some startups are discovering innovative solutions such as digital wallets, debit cards for cryptocurrencies, etc. this will increase the number of merchants that are prepared to transact in cryptocurrencies which boost the number of users.
The standing of crypto assets as a transaction medium will be reinforced as more individuals trust in this system. Even though some startups might not survive, they’ll positively contribute to the general health of the market 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 to the market. The inflow of substantial institutional investments will fuel the following phase of growth of the cryptomarkets. It has captured the fancy of several banks and financial institutions.
Because the surprises and bottlenecks around cryptocurrencies reduce, there could be more uptake from traditional investors. This may cause plenty of dynamism and liquidity much required for any growing financial markets. Cryptocurrency will become the defacto currency for transactions throughout the world.