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 which have changed the tide for the better. 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 stay for the long term. In this article, we give you five positive factors that will spur further innovation and market value in cryptocurrencies.
1. Innovation in scaling
Bitcoin is the very first cryptocurrency in the market. It’s the maximum number of users and the highest value. It dominates the whole value chain of the cryptocurrency system hotgraph. However, it’s not without issues. Its major bottleneck is that it are designed for only six to seven transactions per seconds. In comparison, charge card transactions average at few thousands per second. Apparently, there is scope for improvement in the scaling of transactions. With the help of peer to peer transaction networks on the top of blockchain technology, it’s possible to boost the transaction volume per second.
2. Legitimate ICOs
While you will find cryptocoins with stable value on the market, newer coins are being created that are created to serve a specific purpose. Coins like IOTA are meant to help the Internet Of Things market exchanging power currencies. Some coins address the issue of cybersecurity by giving encrypted digital vaults for storing the money.
New ICOs are discovering innovative solutions that disrupt the existing market and make a fresh value in the transactions. They are also gathering authority on the market with their easy 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 present 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 can expect that there could be reasonable conclusions according to caused by the studies.
Few governments are already taking the route of legalising and regulating crypto markets the same as any 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 just how for widespread adoption in future
4. Escalation in application
There is enormous enthusiasm for the application of blockchain technology in practically every industry. Some startups are discovering innovative solutions such as digital wallets, debit cards for cryptocurrencies, etc. this may increase the number of merchants who are ready to transact in cryptocurrencies which boost the number of users.
The trustworthiness of crypto assets as a transaction medium will be reinforced as more folks rely upon this system. Though some startups might 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 could cause the entry of institutional investors in to the market. The inflow of substantial institutional investments will fuel the following phase of growth of the cryptomarkets. It’s captured the fancy of several banks and financial institutions.