The year 2017 has become a really stellar for the cryptocurrency market. Bitcoin has grown from a level of just less than $ 1,000 to nearly $ 20,000 in December, before starting to lose value. The value of other cryptocurrencies, such as ether, litecoin, dash, etc., have also increased tenfold. The hype around the cryptocurrency has turned into a real fever, as a number of new investors came into the market, trying to get your piece of kryptopyrrole.
With the beginning of 2018, the market is experiencing a massive price decline: bitcoin fell to its lowest level since November, the same can be said about most other cryptocurrencies. Obviously, after you blow the bubble, there will come a period of stabilization and the realization of new goals. What have to understand and to strive cryptocurrency community in 2018?
In the midst of the excitement surrounding the stock market, not all understand its nascent nature. Bitcoin appeared in 2009, in 2010, Litecoin, and Ethereum in 2014. The cryptocurrency market is much younger than other financial markets. There are many aspects of the technology of the blockchain, which have not yet been improved. Problems such as scaling to remain relevant and influence the effectiveness of the main use cases of the blockchain. Bitcoin, Ethereum, Litecoin, dash, Monero and other blockchain projects from a technical point of view, require significant improvement.
In 2017, a host of ICO campaigns, which were held to raise funds in a number of blockchain projects. In particular, EOS, Filecoin, Tezos and Augur, which aim to create useful blockchain-based applications that can compete on the market with the same applications that are built on traditional technologies. Many of these projects are already included in alpha and beta when community members begin to interact with the applications.
DAO, DApps, intelligent data processing and the Internet of things
If you ask technical experts and enthusiasts on the subject of interesting innovations, you probably will be referred to concepts such as artificial intelligence (AI), the Internet of things (IoT) and technology of the blockchain. Just ten years ago some of these ideas could be possible only in science fiction, but they gradually become a reality. AI and IoT are considered pillars of the new emerging digital environment that promises even more opportunities for networking. Cryptocurrencies on the basis of the block chain are considered as a means of payment this new environment.
Many interesting things become possible in the intersection of technology of the blockchain and intelligent data processing. Concepts such as DAO (decentralized Autonomous organization), and DApps (decentralized applications), have demonstrated the enormous potential of blockchain and cryptocurrency in the new digital environment.
Cryptocurrencies are much more adaptable to the new digital landscape than ever had a traditional currency. It is hardly possible to doubt that such crypto currencies as bitcoin, litecoin and air will be the means of capital preservation. Widespread adoption of payments in the cryptocurrency is growing every day, which in turn increases the sphere of influence of the cryptocurrency environment.
What problems can be solved this year
The current stagnation of the market testifies to the process of evolution. In 2018 should become clear the many factors that affect the development of cryptocurrencies in the long term: implementation of technology Lightning, Casper, atomic swaps, and other solutions that a lot has changed in the basic approaches to transaction commissions, the mining, the exchange of one cryptocurrency to another and other pressing issues in the industry. Also during this year, the clear policy of many major economies in regulating the cryptocurrency market.
There is a certain dynamics, which forms the cryptocurrency market. After a certain period of time, the market will resume normal operation, and the upward movement will continue. Despite the fact that there has been a sharp correction in the past few months, the basic principles of crypto-currencies practically have not changed. One thing is certain — the cryptocurrency journey is just beginning.