What Is the Future of the Cryptocurrency Industry? 926

cryptocurrency future

The cryptocurrency market can not boast of stability and balance, but it is the only investment tool that can multiply investments in tens of thousands of times in just a few years. “Bitcoin-fever 2017” attracted public attention to the industry. If only a couple of years ago only very few people knew about cryptocurrencies, now it is difficult to find a person who has never heard the word Bitcoin in his/her life. However, the general euphoria did not last long, and the whole market turned red right after the Christmas holidays. More experienced investors expected correction, but few people could imagine that it would last for such a long time. And now (the end of June, 2018) when the market is almost at an annual minimum (capitalization fell from $814 to $233 billion), everyone is interested in the question: what is the future of cryptocurrency? In this article we will try to turn off emotions and analyze what is waiting for us in the short and long term.

Contents:
(please, click the topic to scroll down to it)

  1. The future of cryptocurrency in the world
  2. Opinion of experts
  3. Conclusion

1. The future of cryptocurrency in the world

Is Bitcoin a certain industry standard? The overwhelming majority of investors are interested in the fate of the world’s #1 coin. Bitcoin has grown from $0.001 to $20k, now it is staying in the trading range between $5800 and $6200. If you compare it with the historical maximum, then rate of the coin is showing negative dynamics, but if you look at the situation in the perspective of a longer period of time, it becomes obvious that the asset is liquidated and is showing stable growth.

If we talk about the future of the world’s #1 cryptocurrency, then it is certainly very promising. At this point in time, any knowledgeable person knows for sure the vector of technology development for the next 10 years. Let’s operate with facts:

– World leaders discussed the rapid development of cryptocurrency at the G20 summit in 2018 and concluded that the point of no return had already been passed, and it was impossible to ban the industry, it needed to be regulated within the framework of the legislative field.

– Exactly one year ago Bitcoin cost about $2500, and the market capitalization was slightly more than $100 billion. Considering the almost half-year correction (with a little respite), the current figures are 2.5 times higher. This means that we see an increase by 250% on the annual chart.

– In 2017 Stanford University conducted a large-scale study of cryptocurrency, where the approximate number of Bitcoin wallets was calculated. Their number was from 5 to 11 million pieces. According to the authors of the study, the figures are not exact, but even if we multiply their maximum statement by 3, we will get about 33 million people who have done some operations with cryptocurrency at least once in their life. If we consider that the total population of the planet is 7 billion people, it becomes obvious that even an overestimated figure of 33 million seems insignificant. These figures let us understand that the globalization of the cryptocurrency industry is still in the future. The growth of new users will inevitably lead to an increase in the rate.

– The project Ripple is already cooperating with more than 100 banks around the world, thereby simplifying and improving their work (improving the level of security and speed of transactions, as well as reducing commission significantly).

2. Opinion of experts

Experts predict a different fate for it, from complete collapse to recognition as an only world currency. Let’s find out which opinion is closer to the truth and whether Bitcoin and other coins have a future.

John McAfee, perhaps the most ardent cryptocurrency adept, who is 1000% sure that Bitcoin will become the new world standard. He assures that BTC will outshine the dollar, as well as the latter outshone gold. According to his forecast, the Bitcoin rate will be at least $1 million by the December of 2020. He is so confident in his prediction that he agreed to eat a piece of himself if he is wrong. We think you guessed which part of the body we are talking about.

In order for such a fantastic forecast to come true, the coin must be recognized at the international level, and trillion investment rivers must flow into it. According to McAfee, this is quite realistic, since it does not require the unanimous consent of all countries of the world, G7 will be enough. The rest of the countries will be forced to adjust to the leaders which they depend on economically.

If this happens, Bitcoin will start to be used everywhere, just like dollar today. Why should Bitcoin lead an expedition to world technology digitization? Everything is simple, the industry pioneer has many similar characteristics with gold:

  • limited stocks (emission of 21 million coins);
  • the process of mining is gradually becoming more complicated;
  • significant energy costs for extraction.

All of these factors above exclude the inflation of the coin, which many other cryptocurrencies are subject to.

James Altucher is a private investor and a hedge fund manager. He believes that cryptocurrencies have all prospects to deprive the state central banks of the money issuance monopoly. If you remember, this right was taken from the telephone industry by the Internet in the past.

Altucher believes that the national currency of a certain country may fail in the nearest future, and the government will not have a choice but switching over to digital coins. The main applicants for this are Argentina and Venezuela. It surprising, but the Venezuelan government announced its intention to release the national coin El Petro literally a week after the statement of Altucher came out.

Elena Kvochko, the head of the security department at Barclays, believes that cryptocurrency has a future only if it enters the white legislative field. Bills on the regulation of cryptocurrencies in different countries differ, but, in general, 2018 gets the title of the “regulation” year. There is still a lot of work to do, but if everything is done correctly, it will significantly affect the industry.

3. Conclusion

The cryptocurrency industry will undoubtedly develop and doubting this statement is stupid for a variety of the abovementioned reasons. It is not yet clear what coin will become the leader in the next few years, many people are betting on the current favorite – BTC. However, it can not be denied that there are many other more technological, but less popular coins. They have all the chances to make it to the leaders’ list.

Money and traditional banks will not disappear anywhere in the next 5 years, the introduction of digital payment systems into everyday life will be gradual.

Subscribe to The Coin Shark news in Facebook: https://www.facebook.com/coinshark/

Previous ArticleNext Article

Multifunctional Platform or Overvalued Project: Review of Bitshares 272

bitshares crypto

The project, which will be discussed today, is a truly universal solution, since it is simultaneously:

  • innovative software;
  • a payment network with a large bandwidth;
  • a decentralized stock exchange;
  • a banking institution;
  • cryptocurrency;
  • a community;
  • a decentralized and reliable database.

The developers of this coin took all the best from the original blockbuster Bitcoin and made a number of changes, which, in their opinion, the first cryptocurrency lacked. So, let’s begin our acquaintance with the Bitshares cryptocurrency.

Content:
(please, click the topic to scroll down to it)

  1. History of the project
  2. Technical information about the coin
  3. How to mine Bitshares?
  4. What are the Bitshares coins necessary for?
  5. Conclusion

1. History of the project

Basically, this project is the fruit of the labors of two people. The idea of ​​the Bitshares coin came to Dan Larimer back in the 2013. He spent a huge amount of work and managed to lay the foundation for the future development of the project. But it still wasn’t the coin we know today: Charles Hoskinson (one of the leading developers of Ethereum) helped. This rather media tandem played an important role in the successful launch of the project.

In early June 2013, entrepreneur Larimer showed the world his offspring, and then the first large investor appeared. After a short period of time, a full-scale presentation of the project took place in Atlanta.

The first product of the development team was BitShares (PTS) ProtoShares, for the creation of which the most advanced and innovative solutions in cryptography were used. After a short period of time, the project was renamed BitShares X, and many built-in services had already been integrated into it. The project was formed in the form, in which we now know it, as a result of the merger of several products into one in the fourth quarter of 2014.

2. Technical information about the coin

8 facts you need to know about the Bitshares cryptocurrency:

  1. It takes the 30th place in the global rating of CoinMarketCap;
  2. The capitalization of the coin is about 565 million dollars;
  3. The rate of Bitshares (at the end of July 2018) is about 21 cents;
  4. The network is built on the PoS algorithm;
  5. The claimed throughput is about 100 thousand transactions per second, although the current checks confirmed only 4 thousand / sec;
  6. Time of block generation takes from one and a half to three seconds;
  7. Remuneration is 1 BTS;
  8. The total issue of coins is 3.6 billion pieces.

3. How to mine Bitshares?

During the development of his new project, Larimer decided that the entire current mining concept could not withstand any criticism and needed reformation. In his opinion, the PoW algorithm can completely override the main feature of blockchain technology, namely decentralization. Since in countries with relatively cheap electricity potentially there can be large players who will be able to seize power over the network.

In addition, within the usual mining, the complexity of the network inevitably grows, which, over time, makes the process of mining coins unprofitable for the vast majority of miners who do not have large computing powers. A Bitshares coin can be obtained by anyone using an average home computer. You can also receive new BTS simply by storing coins on the official Bitshares Wallet.

4. What are the Bitshares coins necessary for?

This cryptocurrency can be used in various scenarios, but its main advantages are:

  • relatively low volatility, compared to other coins;
  • the existence of a unit of account;
  • the possibility of hedging, which can protect against losses.

5. Conclusion

The Bitshares project is a universal product, within which a variety of different services are integrated. The platform is already working for about four years and every year attracts more and more new users. The coin is included in the TOP-30 cryptocurrency projects, it can be considered as an investment asset. According to experienced traders, it is possible to allocate no more than 5% from the portfolio on BTS.

Subscribe to The Coin Shark news in Facebook: https://www.facebook.com/coinshark/

ZenCash Coin Review: Is It the Best Anonymous Cryptocurrency? 285

The overwhelming majority of people believe that all cryptocurrencies are completely anonymous, but this is absolutely untrue. There are several projects on the market that really focus on anonymization. Such coins are not so many; the most popular of them are Dash and Monero. But today we will talk about the cryptocurrency, the developers of which assure that they were able to surpass absolutely everyone in the issue of the anonymity. Today, we will talk about the features, history and perspectives of the ZenCash coin.

Content:
(please, click the topic to scroll down to it)

  1. A bit of the coin’s history
  2. Features of the ZenCash project
  3. Principles of distribution of awards in the network
  4. Conclusion

1. A bit of the coin’s history

This project is a “fork of fork.” Initially, part of the community broke away from the ZCash coin within the ZClassic fork, and already within the latter there was another fork that today showed our hero to the world.

The development team is 100% sure of its creation, so does not hesitate to call it the best anonymizer on the market. Their words are also confirmed by industry experts who rated the project higher than such giants as Monero and Dash.

The ZenCash project is still at the earliest stage of its development, as the network began its work only in the fourth quarter of 2017. But despite this, the coin already has quite a lot of weight in the industry, occupying the 91st place in the global rating of CoinMarketCap for the time of writing the article (July 2018). The market capitalization of the coin is about 110 million dollars at the moment.

Such a dynamic development of the project is not accidental. The fact is that at the very beginning, ZenCash coins were supported by well-known and influential people:

  • Naval Ravikant, an early investor of many successful projects such as Twitter, Uber, etc.;
  • Roger Ver, one of the first cryptocurrency adepts, the creator of the Bitcoin Cash coin;
  • Barry Silbert, the creator of SecondMarket.

The list of names mentioned above is far from complete. This fork was highly appreciated within the framework of the crypto community, but many investors simply preferred to take advantage of the main feature of ZenCash and remain incognito.

2. Features of the ZenCash project

An important part of the ZenCash source code is an embedded data encryption algorithm that has zero knowledge. Due to the technology of Zero Knowledge Proofs, the network can provide total anonymity. Any data about the transaction in ZenCash is hidden from everyone except the participant who initiated the transfer.

Also, the ZenCash project has a number of tools that allow network members to not only make anonymous transactions, but also exchange messages and files:

  • Zen talk – allows you to attach small messages to transactions (up to 1024 characters);
  • Zen hide – allows you to circumvent increased censorship in the relationship of buyers and sellers (relevant for countries with poorly developed democracies);
  • Zen Pub – also allows you to anonymously attach and post various documents of IPPS and GNU Net formats.

3. Principles of distribution of awards in the network

ZenCash works on the PoW protocol, so the mining of this coin absolutely does not differ from the production of the bitcoin, for example. But the reward for the found block is distributed here according to a little peculiar scenario:

  • the most part, namely, 88% are received by the miners;
  • the operators of security nodes take away 3.5%;
  • 5% are used for further investments in DAO;
  • 3.5% go to the project team wallets.

4. Conclusion

The ZenCash project is still too young, even by industry standards, but the team managed to achieve some success even in this short time. The online rate of ZEN/USD at the time of writing is $25.56.

This cryptocurrency is focused on providing absolute anonymity. As assured by many industry experts, ZenCash has a very good technological base, which allows investors to hope for a decent profitability. But it should be remembered that for the full-scale implementation of this technology, the team still needs to do a lot of work, so it is not worth hoping for “fast X”. This applies to the vast majority of promising projects, since it is physically impossible to grow into a multibillion-dollar company in a few months, this requires years of painstaking work.

Subscribe to The Coin Shark news in Facebook: https://www.facebook.com/coinshark/

Vitalik Buterin and Pavel Durov Entered the Rating of the Most Influential Young Entrepreneurs According to Fortune 310

crypto ranking

The famous American business magazine Fortune published a list of 40 Under 40, which gathered the most influential young people in business under the age of 40 years.

The founder of Ethereum Vitalik Buterin holds an honorable 22th line, American R&B- and pop singer Rihanna is ranked next to him, and the CEO of the well-known online cash platform Coinbase, Brian Armstrong.

Exactly one year ago, Buterin and Armstrong shared the 10th place in the list.

The publication noted that there are still rumours about Google trying to hire Buterin. He was supposed to help the corporation develop blockbuster projects, but he refused.

This year, the founder of Telegram Pavel Durov appeared on the Fortune list for the first time and took the 25th line. We would like to remind you that from January to March this year,  about 200 investors invested in ICO Telegram in the total amount of 1.7 billion dollars.

First place 40 Under 40 was shared by the head of Facebook Inc. Mark Zuckerberg and CEO of the social network Instagram Kevin Systrom.

Subscribe to The Coin Shark news in Facebook: https://www.facebook.com/coinshark/

Cryptocurrency Prices for the 20th of July: the Cryptocurrency is Showing Growth 312

crypto price

According to the online platform Coin360, Bitcoin (BTC) has added 1.48% over the past 24 hours. The price at the time of writing is $7463 per coin.

Unlike BTC, most of cryptocurrencies in the rating are in the red zone:

crypto kurs

Bitcoin Cash lost 2.72% over the day and is worth $797;

Ripple decreased by 4.82% and is $0.45 at cost;

EOS minus 2.68% and its price is $8.31;

Litecoin lost 2.10% and is worth $85;

Cardano dropped by 2.60% and $0.17 at cost;

Dash added 5.72% – its value is $279 per coin;

Ethereum has lost 2.72% in the last 24 hours. Its price is $465.

The total market capitalization is $284 billion. Bitcoin accounts for 45% of the total volume. In monetary terms, this is $128 billion.

Subscribe to The Coin Shark news in Facebook: https://www.facebook.com/coinshark/

So There Should Be Bitcoin: Review of Decred 581

cryptocurrency decred

A large number of projects have tried to challenge the cryptocurrency flagship, in attempts to shift the bitcoin from the honorable first place, but this has not yet been done to anyone for 10 years. There is no secret that the BTC has a number of shortcomings which its competitors are trying to solve. In the framework of this article, we will talk about another contender for the “cryptocurrency throne”, which has a number of interesting features and contradictions. So, what is a Decred (DCR) coin?

Content:
(please, click the topic to scroll down to it)

  1. A bit of the coin’s history
  2. Basic information and advantages of the Decred project
  3. Disadvantages of the coin
  4. Conclusion

1. A bit of the coin’s history

Decred is a rather unusual altcoin. Firstly, no initial placement of coins was made for its creation, all funds were provided by the development team. And secondly, the so-called company 0, which has a direct bearing on the initial promotion of bitcoin, has put its hand to its creation. These two facts strongly highlight this project against the background of the other altcoins.

The announcement of the Decred coin took place in 2016, but its road map was kept secret from the public until the first quarter of 2017. To attract participants, the development team decided to distribute the first 5,000 tokens free of charge. Company 0 went from the opposite, they did not ask for money from investors, but rather handed them out. It is worth noting that this plan worked perfectly, and the already good excitement around this project went up with a new force.

2. Basic information about the project

Creating a new coin, the development team took all the best that was in the original blockchain of bitcoin, and also made a number of improvements:

  1. The combination of the PoS and PoW protocols, which in tandem are able to solve one of the biggest problems that Bitcoin is facing, it is decentralization. The fact is that every year the first coin increasingly depends on a narrow circle of the largest miners, the total capacity of which can soon exceed 50%.
  2. Ability to scale blocks.
  3. The low complexity of the network, which allows you to mine a coin without having a huge amount of processing power.
  4. The PoS protocol solves another very important problem, namely the hybrid system of consensus, which allows all participants to vote equally for certain innovations.

3. Disadvantages of Decred

From the information mentioned above, we can conclude that the coin is an excellent tool for investment, but like any other cryptocurrency, Decred has its shortcomings, which we cannot fail to mention:

  • Firstly, the coin has not quite a cohesive community, but a similar picture can be seen within almost any cryptocurrency;
  • Secondly, a large number of skeptics are sure that Decred is a blank that was artificially inflated and in the near future nothing except memories will remain of it.

But, for the sake of justice, it is worth noticing that such statements are not supported by any adequate arguments, so they can be considered a healthy criticism with great reserve.

4. Conclusion

Speaking of Decred cryptocurrency, we can say that the project has everything necessary to take its place in the industry. The development team makes every effort to keep up with its RoadMap. The coin is only 2 years old, but it already enters the TOP-30 in the global ranking of Coinmarketcap.

The symbiosis of the PoW and PoS protocols is not unique in the market, but in this case it can bring good results, since such an approach can solve a large number of problems and take the coin to a new level. We will not guess, but we promise to closely monitor the development of events and inform you in a timely manner.

Subscribe to The Coin Shark news in Facebook: https://www.facebook.com/coinshark/

Did the Winklevoss Brothers Buy the Approval of Gemini Exchange? 574

Winklevoss Brothers

The cryptocurrency experts have recently noticed an interesting coincidence between the fact that the Winklevoss brothers sponsored the political campaign of a government official and the approval that was received by their cryptocurrency exchange Gemini immediately afterwards. Or is it not a coincidence?

As the New York Post reports, Cameron and Tyler Winklevoss have both recently sent $50k each in support of the campaign of Andrew Cuomo, an American politician.

This happened in late April. About 3 weeks later, the digital currency exchange Gemini got an official permission from the administration of New York to conduct cryptocurrency trading operations.

Moreover, after another month passed the brothers sent another $15k checks each to Cuomo, even though they have never supported this politician prior to April. Nobody can deny the fact that the situation is pretty strange.

Despite all the suspicions, the members of Cuomo’s campaign claim that the Winklevoss twins just see Andrew Cuomo as an effective politician with good potential.

According to the representative of Cuomo:

No contribution of any size influences any government action.”

We remind you that this spring the twins Winklewoss have launched Gemini Block Trading for large transactions.

Subscribe to The Coin Shark news in Facebook: https://www.facebook.com/coinshark/