The blockchain and cryptocurrencies associated with it have been called a game changer. However, the revolution they were supposed to bring seems to be slower than most people expected it to be. People predicting massive growth for the blockchain all around the world have recently been left wondering just exactly what happened.
With this, 2019 has been known as the year for the blockchain to make it or break it. Let’s take a look at some key trends that matter for cryptocurrencies this season.
Security and Usability
Security has always been a major issue for cryptocurrencies and blockchain. But this year the struggle against safety issues over the blockchain will be crucial. Companies and nations are investing huge amounts of money into improving the security situation and give investors steps that will help them maintain their trades and their money safe. At exactly the exact same time, certain community-based cryptocurrencies are providing innovation, as Liracoin, it’s because of its conception a community-driven project. The community is a decisive element in the success of the project and of every member.
On the other hand, many are still confused about precisely how they’re supposed to use the blockchain and access cryptocurrencies. There’s still a lot of confusion about what it takes to mine a single BitCoin and other similar cryptocurrencies. To make cryptocurrency eventually push into a mainstream fund and revolutionize the whole construction, investors and creditors will have to enhance the usability of their blockchain.
As mentioned previously, no one’s exactly sure just how much effort and money it must mine a single BitCoin. The area of cryptocurrency is extremely volatile and has been so for a long time. This volatility has created an investment a hassle for many, with others scared that they’ll lose the money they invest. Hence, there has to be a measure of financial security and regulation of both investments and return on investments (ROI) to help get more people interested in using the blockchain for their transactions. Greater regulation is much required.
Creating the Right Environment
The overall view of the climate of cryptocurrencies indicates an extremely competitive, volatile, and cutthroat environment where people can make and lose massive sums of money based on their luck. This is an environment that does not appear conducive to investment and doesn’t promote the interest and investment of outsiders. An environment needs to be created that encourages usage of the blockchain and makes people feel safe about their investments and secure about the climate that they are entering into.
For blockchain to rise in 2019, it ought to become more customer and community-oriented, rather than staying as something that individuals feel they can not understand.