While there have been market corrections in cryptocurrency market in 2018, everyone agrees that the best is yet to come. There has been plenty of activities available in the market that have changed the tide for the better. With proper analysis and the proper dose of optimism, anyone who’s invested in the crypto market will make millions out of it. Cryptocurrency market is here now to stay 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 most 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 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 help of peer to peer transaction networks on the top of 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 now being created that are designed to serve a particular purpose. Coins like IOTA are intended to help the Internet Of Things market exchanging power currencies. Some coins address the matter of cybersecurity by providing encrypted digital vaults for storing the money.
New ICOs are picking out innovative solutions that disrupt the present market and bring in a brand new value in the transactions. They are also gathering authority available in the market with 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 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 can be accrued to the community at large. We could expect that there could be reasonable conclusions according to the consequence of the studies.
Few governments happen to be taking the route of legalising and regulating crypto markets just like some 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 look in 2018. This can potentially pave the way in which for widespread adoption in future
4. Upsurge in application
There’s enormous enthusiasm for the application form of blockchain technology in just about any industry. Some startups are coming up with innovative solutions such as for example digital wallets, debit cards for cryptocurrencies, etc. this may increase how many merchants who are willing to transact in cryptocurrencies which in turn boost how many users.
The trustworthiness of crypto assets as a transaction medium is likely to be reinforced as more individuals trust in this system. Though some startups may not survive, they will positively donate to the general health of industry creating competition and innovation.
5. Investment from financial institutions
Many international banks are watching the cryptocurrency scene. This will result in 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 has captured the fancy of many banks and financial institutions.