While there have been market corrections in cryptocurrency market in 2018, everyone agrees that the best is yet to come. There has been lots of activities in the market which have changed the tide for the better. With proper analysis and the best dose of optimism, anyone who’s dedicated to the crypto market could make millions out of it. Cryptocurrency market is here now to keep for the long term. Within this informative article, we offer 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 utmost amount of users and the best value. It dominates the entire value chain of the cryptocurrency system. However, it is not without issues. Its major bottleneck is that it are designed for only six to seven transactions per seconds. Compared, 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 top of blockchain technology, it is possible to increase the transaction volume per second.
2. Legitimate ICOs
While there are cryptocoins with stable value in the market, newer coins are being created that are made to serve a particular purpose. Coins like IOTA are designed to help the Internet Of Things market exchanging power currencies. Some coins address the problem of cybersecurity by providing encrypted digital vaults for storing the money.
New ICOs are coming up with innovative solutions that disrupt the prevailing market and make a brand new value in the transactions. They’re also gathering authority available in the market making use of their user friendly 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 providing 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 city at large. We can expect that there may be reasonable conclusions according to caused by the studies.
Few governments happen to be taking the route of legalising and regulating crypto markets the same as any market. This can prevent ignorant retail investors from losing money and protect them from harm. Abling regulations that boost cryptocurrency growth are expected to seem in 2018. This can potentially pave the way for widespread adoption in future
4. Increase in application
There’s enormous enthusiasm for the applying of blockchain technology in virtually every industry. Some startups are coming up with innovative solutions such as digital wallets, debit cards for cryptocurrencies, etc. this can increase the amount of merchants who are ready to transact in cryptocurrencies which in turn boost how many users.
The reputation of crypto assets as a transaction medium is likely to be reinforced as more individuals trust in this system. Although some startups may not survive, they’ll positively subscribe to the entire 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 into 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.