While there has been market corrections in cryptocurrency market in 2018, everyone agrees that the most effective is yet to come. There have been plenty of activities on the market that have changed the tide for the better. With proper analysis and the best dose of optimism, anyone who is invested in the crypto market will make millions out of it. Cryptocurrency market will be here to remain for the long term. In this informative article, we give you five positive factors that may spur further innovation and market value in cryptocurrencies
coin market cap .
1. Innovation in scaling
Bitcoin is the very first cryptocurrency in the market. It has the maximum quantity 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. In contrast, credit 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 the surface of the blockchain technology, it’s possible to increase the transaction volume per second.
2. Legitimate ICOs
While there are cryptocoins with stable value available in 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 issue of cybersecurity by providing encrypted digital vaults for storing the money.
New ICOs are picking out innovative solutions that disrupt the existing market and bring in a fresh 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 today’s scenario, most governments are studying the impact of cryptocurrencies on the society and how its benefits could be accrued to the community at large. We are able to expect that there could be reasonable conclusions depending on caused by the studies.
Few governments are actually taking the route of legalising and regulating crypto markets the same as any 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 appear in 2018. This can potentially pave just how for widespread adoption in future
4. Increase in application
There’s enormous enthusiasm for the application of blockchain technology in just about any industry. Some startups are coming up with innovative solutions such as for instance digital wallets, debit cards for cryptocurrencies, etc. this will increase the number of merchants that are ready to transact in cryptocurrencies which often boost the number of users.
The reputation of crypto assets as a transaction medium is likely to be reinforced as more folks trust in this system. While some startups may not survive, they will positively donate 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 may result in the entry of institutional investors into the market. The inflow of substantial institutional investments will fuel another phase of growth of the cryptomarkets. It has captured the fancy of many banks and financial institutions.