Since the start of 2018, the price of cryptocurrencies has decreased quite a bit especially in the last quarter. Despite all the setbacks, the market has expanded significantly, and critics are expecting another price boom in the next year. Here are some things that crypto enthusiasts would be happy to see in the coming years.
In 2020, the mining rewards of Bitcoin will be halved. Previously in 2012 and 2016 the events were closely followed by price booms. Though it will affect the price of the token, it is hard to say whether the price will increase as early as 2019.
Moreover, this year has seen many institutions accepting blockchain as a suitable method for data storage as well as its applications as a method of payment. These included finance giants like Bakkt. In 2019 this is bound to increase, and hopefully, the reputation of these tokens will change for the better.
Furthermore, the government has chosen to see these tokens as securities and have therefore investigated certain shady ICO’s as well have decided to draft a more suitable bill for their regulation.
Regardless of all the setbacks, the crypto-sphere has faced in the latter half of 2018; the firms have only worked harder to survive. Certain projects that are in development will help the crypto sphere to expand drastically.
Bitcoin is working on a Lightning network that will allow the platform to support more transactions at a time. Currently, the platform can only support seven transactions each second, which is bound to expand exponentially with the Lightning Network that will be launched in 2019.
Ethereum, on the other hand, is solving the scalability issue and has come up with a plan to develop sharding that will enable scaling on a much larger scale.