While there have been market corrections in cryptocurrency market in 2018, everyone agrees that the best is still to come. There have been a lot of tasks in the market that have modified the tide for the better. With proper research and the proper dose of optimism, any individual who is invested in the crypto market can make mllns. out of it.
Cryptocurrency market is here to prevail for the lasting. Here in this article, we give you 5 positive reasons that can spur likewise innovation and market value in cryptocurrencies.
1. Innovation in Scaling
Bitcoin is the first cryptocurrency in the market. It has the maximum number of users and the highest value. It conquers the entire value chain of the cryptocurrency system. though, it is not without issues. Its radical bottleneck is that it can handle only 6 to 7 transactions per seconds. In comparison, c.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 top of the blockchain technology, it is doable to boost the transaction volume per second.
2. Legitimate ICOs
While there are cryptocoins with steady value in the market, newer coins are being created that are developed to serve a singular purpose. Coins like IOTA are intended to assist the Internet Of Things market exchanging power currencies. a few coins address the issue of cybersecurity by giving encrypted digital vaults for storing the cash.
New ICOs are coming up with innovative solutions that disrupt the existing market and bring in a new value in the transactions. They are additionally gathering authority in the market with their simple to use exchanges and reputable backend operations. They are innovating both on the technology side regarding utilization of specialized hardware for mining and financial market side by giving more liberty and choices to investors in the exchange.
3. Clarity on Regulation
In the ongoing scenario, most governments are studying the affect of cryptocurrencies on the society and how its pros can be accrued to the community at large. We can expect that there can be reasonable conclusions as per the result of the studies.
Few governments are previously taking the route of legalising and regulating crypto markets similar to any other market. This will prevent ignorant retail investors from losing cash and safeguard them from hurt. Abling regulations that skyrocket cryptocurrency growth are expected to seem in 2018. This will potentially pave the way for widespread adoption in future
4. Boost in Application
There is trmendous enthusiasm for the application of blockchain technology in virtually every industry. a few startups are coming up with innovative solutions such as digital wallets, debit cards for cryptocurrencies, etc. this will increase the amount of merchants who are willing to transact in cryptocurrencies which in turn skyrocket the number of users.
The fame of crypto assets as a transaction medium will be reinforced as more people believe in this system. even though some startups could not survive, they will positively help to the overall health of the market initiating competition and innovation.
5. Investment from Financial Institutions
Many international banks are watching the cryptocurrency scene. This can conduct to the entry of institutional investors into the market. The inflow of substantial institutional investments will fuel the following phase of growth of the cryptomarkets. It has captured the fancy of lots banks and financial institutions.
As the surprises and bottlenecks around cryptocurrencies lower, there will be more uptake from traditional investors. This will conduct to a lot of dynamism and liquidity much necessary for any growing financial markets. Cryptocurrency will turn the defacto currency for transactions all around the globe.