While there have been market corrections in cryptocurrency market in 2018, everyone agrees that the most effective is yet to come. There were plenty of activities available in the market which have changed the tide for the better. With proper analysis and the proper dose of optimism, anyone who is dedicated to the crypto market will make millions out of it. Cryptocurrency market will be here to remain for the long term. Here in this informative article, we give you five positive factors that will spur further innovation and market value in cryptocurrencies.
1. Innovation in scaling
Bitcoin is the first cryptocurrency in the market. It has the maximum quantity of users and the greatest 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 comparison, bank 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’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 made 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 discovering innovative solutions that disrupt the prevailing market and generate a fresh value in the transactions bitkub. They are also gathering authority available in the market using 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 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 can be accrued to the city at large. We are able to expect that there may be reasonable conclusions according to the consequence of the studies.
Few governments are already 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 just how for widespread adoption in future
4. Upsurge in application
There is enormous enthusiasm for the application of blockchain technology in practically every industry. Some startups are discovering innovative solutions such as for instance digital wallets, debit cards for cryptocurrencies, etc. this can increase the number of merchants who’re willing to transact in cryptocurrencies which boost the number of users.
The standing of crypto assets as a transaction medium is likely to be reinforced as more individuals trust in this system. Although some startups might not survive, they’ll positively subscribe to the overall health of the market 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 numerous banks and financial institutions.