The trend of Cryptocurrency in 2019
Cryptocurrencies are digital assets that were introduced to carry out trustworthy and secure financial transactions with the help of cryptography. Cryptocurrencies can also be said as digital currencies that use encryption techniques to regulate the generation of units of currency and scrutinize the transfer of funds independently, without the interference of the central bank. We can also buy the cryptocurrencies through cryptocurrency exchange The world of cryptocurrency is vast and these are the top 10 cryptocurrencies listed below:
- Bitcoin (BTC)
- Ripple (XRP)
- Ethereum (ETH)
- Bitcoin Cash (BCH)
- Stellar (XLM)
- Litecoin (LTC)
- EOS (EOS)
- Binance Coin (BNB)
- Cardano (ADA)
The Ascent of Security Token Offering (Or the end of the era of ICOs)
ICO’s are not something new to the people who know about cryptocurrency and that they would surely know how ICOs created issues in the past couple of years. Lack of rules & regulations resulted in scams worth millions of dollars through ICOs in 2018 that raised funds giving false promises to its shareholders. This has spoiled the prospects of genuine upcoming cryptocurrency firms that actually had a feasible product or solution to offer.
Security Token Offering
STOs are the next arising big thing in the unit of cryptocurrency and blockchain technology. The capabilities and the functionalities of blockchain improved with the introduction of STOs, that also took care of the shortcoming of ICOs. Overviewing the safer & legitimate investment plans offered with STOs, major corporates have also started showing a keen interest in this.
Although many investors suffered a hefty loss with the market crash it was also the time when Cryptocurrency was in its hype and people from all sorts of life we’re talking about it.
The Impact of TRON Arcade
The gaming industry is at peak and stepping into next generation with augmented reality and virtual reality set to be a significant part of it and games based on blockchain may become a substantial part of what is yet to come and TRON arcade will definitely play a role in that.
Global Governments Recognition to Cryptocurrencies Transactions
Most recently Cryptocurrencies are getting recognized as an authorized channel for the financial transaction by the governments around the globe. When legal currencies were losing their credibility, cryptocurrencies emerged as one of the reputed and trusted medium for exchange and it was worth using it.
2018 was very difficult for the cryptocurrency. Results were good at the beginning but at the end of the year, an approx fall of 400% was seen in cryptocurrency prices. It is expected that people might see some changes in the crypto results this year. The fall did not give an end to cryptocurrency in the crypto market, with upgrades of new advancements it is at the advanced level. Some of the most important developments to look forward in 2019 are,
- NASDAQ’s listing of Bitcoin futures
Ethereum will have approx of two major upgrades in 2019 — one of them will be ‘Constantinople’ at the start of the year and other in the later part of the year. Constantinople is yet to hit the world and it is designed to improve the efficiency of the blockchain and to decrease block reward, mainly to make the blockchain to be more ASIC- resistant. An upgrade with the implementation of Casper Protocol and Sharding is expected next.
In 2018, Cardano was the second most developed cryptocurrency and now in 2019, it is planning to release the features of the Shelley phase. In the development stages of Cardano, Shelley is a phase that is mainly focused on making the project to be fully autonomous. Advanced smart contract capabilities feature, that is suitable in enterprise usage is also expected to be delivered from Cardano, especially concerning transaction speed.
Reduction in Mining Energy Consumption
Basically mining need nodes that can lead to an extreme level of energy consumption. Bitcoin saw a massive reduction in energy consumption during a fall in price. If this trend continues in 2019, we will see a marked reduction in energy consumption.
Expansion of Crypto based credit cards
Even though the regulations have stalled the trading in some countries, people accepted cryptocurrencies and peoples will buy bitcoin online in recent years. The acceptance of cryptocurrencies by people increases. People don’t prefer to lavishly spend their cryptocurrency, they wish to save it. Countless people started investing in crypto. And, here comes the concept of crypto-based credit cards. It paves a way to have your crypto and also use it in other forms like fiat currency.