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Cryptocurrency markets crashed in 2019Shutterstock
2017 has had the most encrypted market ever seen. In comparison, 2018 has had a rather insignificant run within the cryptographic space with almost all currencies that have dropped by at least 80% compared to historical highs. We closed last year in both November and December with the highest growth rate in the encrypted market; Bitcoin alone has amazed $ 600 billion in market capitalization. As a result, its price has dropped to $ 20,000. Since similar trends have also been seen with altcoins, the market players were not prepared for the big move this year. While the bears might interpret this as the end of the cryptocurrency as we know it, nothing could be further from the truth.
2017-2018 analysis: latest Crypto trends
Although 2018 has not seen the expected extrapolated growth, and one can expect that there will be no drastic changes until the end of the year, there have been some of the most important developments in the crypto and Blockchain sectors.
We have achieved considerable market stability, which could easily indicate that the market is maturing. At the dawn of Bitcoin there was a lot of confusion as the technology was not well developed. All we had was a White Paper and an innovative technology, and 10 years later, we still have to understand who developed it.
It took a while for people to understand this unexplored territory until in 2017, Bitcoin exploded. In retrospect, it was quite obvious that a peak had to be reached, so a fall before plateauing at a much lower but comfortable price, as we understood "what's next?".
Governments could not ignore the growing crypto craze and did not even know what to do with this new market: assets or encryption titles? The question still remains. The G20 also made recommendations for regulations during the 2018 summit in Buenos Aires, Argentina. Some countries have opted for generalized bans, other partial bans (opting to prohibit only initial offers of coins), while others have stood aside, expressing tepid or indifferent stands.
Along the way, we have experimented with new technology and faced challenges that may not have been so obvious at the start. The low scalability of Bitcoin Blockchain pushed transaction fees up to 2,000% on the network. This, combined with a slow transaction speed, made it necessary to introduce the Segwit protocol that created Bitcoin Cash, a relatively reliable bitcoin core fork. Other interventions have been suggested and the Bitcoin Lightning network has been developed. Likewise, Ethereum developed Plasma and Casper. However, we were not out of the woods. Initial coin offerings (ICOs) were marked by scams, and then the hackings on the Crypto exchanges.
Evidently, it was not an easy year. But Cryptos still refuses to leave. If anything, we are seeing greater interest as technology and infrastructure develop hand in hand. Firstly, space is able to separate speculators from those in the long run. Institutional investors are expected to invest soon after Goldman Sachs is interested. Meanwhile, heavyweights like IBM, Starbucks and International Exchange (IEC) began accepting encrypted payments on their platforms. Moreover, even more important, after a lot of dead ends with redundant projects (just insert the word Blockchain to attract investors' attention), we can say which projects have real potential and project their expected growth.
Sectors that prospered in 2018 and will be with us in 2019
Finance and e-commerce
The change in the financial sector was Satoshi's main goal. Unfortunately, it was not successful due to the low scalability. Today, however, giant steps have been taken and the game has changed. This now allows Blockchain to be integrated into payment gateways through off-line transactions and the use of masternodes. Ripple Foundation owns XRP (the highest performing crypt of 2017), and is in contract with major banks to offer Ripple products. This will open the way for incorporating the criptos in the banking sector. While Ripple is turning to institutions to enable global transactions, a similar network, the Stellar Network, is more focused on individuals with the same goal. Through them, we are witnessing great progress in making crypto a means of functional exchange: this is the end. These noteworthy developments will certainly continue in 2019 as we continue to create a functional cryptographic financial system for the future.
Trading
Negative feelings and bearish markets may seem scary in the news, but trading and investments in criptos seem to remain largely unaffected. Exchanges continue to move billions of dollars in transactions a day. According to a 24-hour volume classification for coinmarketcaps, OKEx moved over $ 513 million in 24, Binance was the second with over $ 464 million while ZB.COM made transactions for $ 430 million. The first three grants accounted for over $ 1 billion in trading volume. The list contains more than 200 transactions. This shows that trading is a primary player in cryptographic space and will not go away anytime soon. It is essential to ensure that entities charged with such high amounts are safe and secure. To reduce the risk of losing millions of dollars through hacking, the next obstacle in 2019 will be the development of decentralized exchanges.
Binance, which has covered several countries to position itself as a global leader, announced plans to launch a beta version of its Decentralized Exchange (DEX) at the start of 2019. This is said to be in development of custodial portfolios that feel are inevitable in the future. Custodial Wallets will enable P2P trading while it is still transmitting transactions on Blockchain. This will incur in minimal native taxes which will be much cheaper than the current transaction rates. With the risk of hacking and high costs eliminated, trading in Crypto can only get bigger and better.
Social networks
Social networks are an integral part of our daily lives. Thanks to them, we have become a truly global village. Blockchain projects seeking to create improved third-generation networks that address the second generation web deficiencies have been developed in the recent past. Steemit on the Steem Blockchain is one of the best known among the crypto users as it rewards users for the use of the platform. But just like many pioneers in this industry, it did not have the impact it hoped for. Fortunately, it is not the only Social Network that works hard to give Blockchain a breakthrough. There is Indorse, a social network that sells advertising and rewards users in IND tokens. Awarded tokens are used to create a user activity index. The Indorse has raised $ 9M in its ICO and will continue to develop in 2019.
Other networks that use the reward model are Nexus and Synereo. Another interesting platform is Humans.net, which strives to create a one-stop shop for service providers and job seekers to conduct peer-to-peer networks. The core of its operations is based on a DNA verification system to ensure that users are legitimate. The platform does not impose any form of commission to use its services while efficiently guaranteeing data protection. Data for advertisements is used only with the express permission of the user, in addition, users are guaranteed a share of 25% of advertising revenue. It is interesting to note that the platform is for everyone. Unlike other similar networks that strictly offer services to certain target professions, Humans.net is a truly healthy platform where you can find a medical consultant and a cleaner.
Immediate need for social networks based on Blockchain
In subsequent cases, the social media giant Facebook had to face security breaches. First came the Cambridge Analytica scandal where Facebook was accused of selling user data to third parties. The data is said to have been used to manipulate the elections in the United States and Kenya. Soon after, it was reported that 60 million Facebook user accounts were violated. This shows that the consequences of centralizing data are too large. Not only does decentralization guarantee security, but it allows users to control their data. The civic network ensures that once a user deletes the data, it is deleted on every other network. Therefore, users do not have to worry about their data being in the hands of other people. Steemit's website states in part:
"While most social media sites extract this value for the benefit of their shareholders, Steemit believes that platform users should receive the benefits and benefits for their attention and the contributions they make to the platform."
By ensuring that users are anonymous and do not need any form of identification to link them to accounts, Blockchain Social Networks can help ensure freedom of expression, especially in countries that censor what users post on social platforms. This is the tactic used on the Obsidian platform by completely removing the requirement of user accounts.
The ability to earn money from your creative content is essential, without having to go through brokers. Through these networks, Humans.net, users interact directly with each other, negotiate terms and execute contracts and payments without involving third parties that not only charge fees, but can also compromise security.
While most of the general networks have tried to integrate payment options on their platforms, third-party issues reoccur from the beginning. This increases transaction fees and makes transactions dependent on third-party applications. If there is a mishap during a transaction, the resolution process lasts for a long time as three parts are involved. Blockchain networks can trade on the platform's token utilities and use them for transactions with minimum or no commissions. In addition, transactions on Blockchains are untrusted because they use Smart Contracts to perform transactions.
User statistics
Steemit, started in June 2016, has over 1 million registered users on the site. endorse, a matching network of abilities similar to Humans.net, uses consensus robots and artificial intelligence to confirm and support skills. David Moskowitz, a co-founder of India, describes this process as follows:
"If someone is an expert on NodeJS, file a claim and attach evidence like their GitHub repository." Other members of the same domain are verified on Indors. "Based on consent, the request is" indorified "or flagged."
The Indorse platform has over 70,000 users a month. The number is impressive for a platform that only started in the third quarter of 2017, making it just a year. The statistics on the popularity of the platform seem to favor unique startups that think and act differently. One of these is Humans.net, which is expanding and already has over 200,000 users in the United States. He hopes to continue to expand into more countries after receiving $ 10 (?) Funding. If that's all, the overriding indication is that Blockchain Social Networks has the ability to attract users because of their more favorable features. With the increased concern for the security of personal data and the growing appetite of big data that puts them at risk, people are more likely to turn to Blockchain more transparent and ethical.
The managing director and founder of G.Social Christopher J Kramer has rightly made it clear by explaining what the Blockchain social networks are:
"The blockchain is transforming social media through a censorship-resistant global register technology that puts everyone in control of their data and monetization without the need for top-down control."
Blockchain social networks may not have a high number of users compared to other growing blockchain projects because it is not urgent. The health sector, for example, easily attracts the development of Blockchain networks because it is a delicate and delicate area. However, the effects of data theft, manipulation and general abuse of mainstream social networks will attract more users to Blockchain-based networks.
On 6 August 2018, John Mcafee expressed the need for decentralized social networks after a suspected coordinated ban on conspiracy journalist Alex Jones from the 3 best social networks. The numerous failures in the centralized social networks could alone show the need and could be the beginning of their decentralized counterparts.
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Cryptocurrency markets crashed in 2019Shutterstock
2017 has had the most encrypted market ever seen. In comparison, 2018 has had a rather insignificant run within the cryptographic space with almost all currencies that have dropped by at least 80% compared to historical highs. We closed last year in both November and December with the highest growth rate in the encrypted market; Bitcoin alone has amazed $ 600 billion in market capitalization. As a result, its price has dropped to $ 20,000. Since similar trends have also been seen with altcoins, the market players were not prepared for the big move this year. While the bears might interpret this as the end of the cryptocurrency as we know it, nothing could be further from the truth.
2017-2018 analysis: latest Crypto trends
Although 2018 has not seen the expected extrapolated growth, and one can expect that there will be no drastic changes until the end of the year, there have been some of the most important developments in the crypto and Blockchain sectors.
We have achieved considerable market stability, which could easily indicate that the market is maturing. At the dawn of Bitcoin there was a lot of confusion as the technology was not well developed. All we had was a White Paper and an innovative technology, and 10 years later, we still have to understand who developed it.
It took a while for people to understand this unexplored territory until in 2017, Bitcoin exploded. In retrospect, it was quite obvious that a peak had to be reached, so a fall before plateauing at a much lower but comfortable price, as we understood "what's next?".
Governments could not ignore the growing crypto craze and did not even know what to do with this new market: assets or encryption titles? The question still remains. The G20 also made recommendations for regulations during the 2018 summit in Buenos Aires, Argentina. Some countries have opted for generalized bans, other partial bans (opting to prohibit only initial offers of coins), while others have stood aside, expressing tepid or indifferent stands.
Along the way, we have experimented with new technology and faced challenges that may not have been so obvious at the start. The low scalability of Bitcoin Blockchain pushed transaction fees up to 2,000% on the network. This, combined with a slow transaction speed, made it necessary to introduce the Segwit protocol that created Bitcoin Cash, a relatively reliable bitcoin core fork. Other interventions have been suggested and the Bitcoin Lightning network has been developed. Likewise, Ethereum developed Plasma and Casper. However, we were not out of the woods. Initial coin offerings (ICOs) were marked by scams, and then the hackings on the Crypto exchanges.
Evidently, it was not an easy year. But Cryptos still refuses to leave. If anything, we are seeing greater interest as technology and infrastructure develop hand in hand. Firstly, space is able to separate speculators from those in the long run. Institutional investors are expected to invest soon after Goldman Sachs is interested. Meanwhile, heavyweights like IBM, Starbucks and International Exchange (IEC) began accepting encrypted payments on their platforms. Moreover, even more important, after a lot of dead ends with redundant projects (just insert the word Blockchain to attract investors' attention), we can say which projects have real potential and project their expected growth.
Sectors that prospered in 2018 and will be with us in 2019
Finance and e-commerce
The change in the financial sector was Satoshi's main goal. Unfortunately, it was not successful due to the low scalability. Today, however, giant steps have been taken and the game has changed. This now allows Blockchain to be integrated into payment gateways through off-line transactions and the use of masternodes. Ripple Foundation owns XRP (the highest performing crypt of 2017), and is in contract with major banks to offer Ripple products. This will open the way for incorporating the criptos in the banking sector. While Ripple is turning to institutions to enable global transactions, a similar network, the Stellar Network, is more focused on individuals with the same goal. Through them, we are witnessing great progress in making crypto a means of functional exchange: this is the end. These noteworthy developments will certainly continue in 2019 as we continue to create a functional cryptographic financial system for the future.
Trading
Negative feelings and bearish markets may seem scary in the news, but trading and investments in criptos seem to remain largely unaffected. Exchanges continue to move billions of dollars in transactions a day. According to a 24-hour volume classification for coinmarketcaps, OKEx moved over $ 513 million in 24, Binance was the second with over $ 464 million while ZB.COM made transactions for $ 430 million. The first three grants accounted for over $ 1 billion in trading volume. The list contains more than 200 transactions. This shows that trading is a primary player in cryptographic space and will not go away anytime soon. It is essential to ensure that entities charged with such high amounts are safe and secure. To reduce the risk of losing millions of dollars through hacking, the next obstacle in 2019 will be the development of decentralized exchanges.
Binance, which has covered several countries to position itself as a global leader, announced plans to launch a beta version of its Decentralized Exchange (DEX) at the start of 2019. This is said to be in development of custodial portfolios that feel are inevitable in the future. Custodial Wallets will enable P2P trading while it is still transmitting transactions on Blockchain. This will incur in minimal native taxes which will be much cheaper than the current transaction rates. With the risk of hacking and high costs eliminated, trading in Crypto can only get bigger and better.
Social networks
Social networks are an integral part of our daily lives. Thanks to them, we have become a truly global village. Blockchain projects seeking to create improved third-generation networks that address the second generation web deficiencies have been developed in the recent past. Steemit on the Steem Blockchain is one of the best known among the crypto users as it rewards users for the use of the platform. But just like many pioneers in this industry, it did not have the impact it hoped for. Fortunately, it is not the only Social Network that works hard to give Blockchain a breakthrough. There is Indorse, a social network that sells advertising and rewards users in IND tokens. Awarded tokens are used to create a user activity index. The Indorse has raised $ 9M in its ICO and will continue to develop in 2019.
Other networks that use the reward model are Nexus and Synereo. Another interesting platform is Humans.net, which strives to create a one-stop shop for service providers and job seekers to lead peer-to-peer networks. The core of its operations is based on a DNA verification system to ensure that users are legitimate. The platform does not impose any form of commission to use its services while efficiently guaranteeing data protection. Data for advertisements is used only with the express permission of the user, in addition, users are guaranteed a share of 25% of advertising revenue. It is interesting to note that the platform is for everyone. Unlike other similar networks that strictly offer services to certain target professions, Humans.net is a truly healthy platform where you can find a medical consultant and a cleaner.
Immediate need for social networks based on Blockchain
In subsequent cases, the social media giant Facebook had to face security breaches. First came the Cambridge Analytica scandal where Facebook was accused of selling user data to third parties. The data is said to have been used to manipulate the elections in the United States and Kenya. Soon after, it was reported that 60 million Facebook user accounts were violated. This shows that the consequences of centralizing data are too large. Not only does decentralization guarantee security, but it allows users to control their data. The civic network ensures that once a user deletes the data, it is deleted on every other network. Therefore, users do not have to worry about their data being in the hands of other people. Steemit's website states in part:
"While most social media sites extract this value for the benefit of their shareholders, Steemit believes that platform users should receive the benefits and benefits for their attention and the contributions they make to the platform."
By ensuring that users are anonymous and do not need any form of identification to link them to accounts, Blockchain Social Networks can help ensure freedom of expression, especially in countries that censor what users post on social platforms. This is the tactic used on the Obsidian platform by completely removing the requirement of user accounts.
The ability to earn money from your creative content is essential, without having to go through brokers. Through these networks, Humans.net, users interact directly with each other, negotiate terms and execute contracts and payments without involving third parties that not only charge fees, but can also compromise security.
While most of the general networks have tried to integrate payment options on their platforms, third-party issues reoccur from the beginning. This increases transaction fees and makes transactions dependent on third-party applications. If there is a mishap during a transaction, the resolution process lasts for a long time as three parts are involved. Blockchain networks can trade on the platform's token utilities and use them for transactions with minimum or no commissions. In addition, transactions on Blockchains are untrusted because they use Smart Contracts to perform transactions.
User statistics
Steemit, started in June 2016, has over 1 million registered users on the site. Indorse, a matching network of skills similar to Humans.net, uses consensus robots and artificial intelligence to confirm and support skills. David Moskowitz, a co-founder of India, describes this process as follows:
"If someone is an expert on NodeJS, file a claim and attach evidence like their GitHub repository." Other members of the same domain are verified on Indors. "Based on consent, the request is" indorified "or flagged."
The Indorse platform has over 70,000 users a month. The number is impressive for a platform that only started in the third quarter of 2017, making it just a year. The statistics on the popularity of the platform seem to favor unique startups that think and act differently. One of these is Humans.net, which is expanding and already has over 200,000 users in the United States. He hopes to continue to expand into more countries after receiving $ 10 (?) Funding. If that's all, the overriding indication is that Blockchain Social Networks has the ability to attract users because of their more favorable features. With the increased concern for the security of personal data and the growing appetite of big data that puts them at risk, people are more likely to turn to Blockchain more transparent and ethical.
The managing director and founder of G.Social Christopher J Kramer has rightly made it clear by explaining what the Blockchain social networks are:
"The blockchain is transforming social media through a censorship-resistant global register technology that puts everyone in control of their data and monetization without the need for top-down control."
Blockchain social networks may not have a high number of users compared to other growing blockchain projects because it is not urgent. The health sector, for example, easily attracts the development of Blockchain networks because it is a delicate and delicate area. However, the effects of data theft, manipulation and general abuse of mainstream social networks will attract more users to Blockchain-based networks.
On 6 August 2018, John Mcafee expressed the need for decentralized social networks after a suspected coordinated ban on conspiracy journalist Alex Jones from the 3 best social networks. The numerous failures in the centralized social networks could alone show the need and could be the beginning of their decentralized counterparts.
