Future Market Insights announced the addition of the "Cryptovalute Market: Global Industry Analysis and Opportunity Assessment, 2018 – 2028" report to their offer
This press release was originally distributed by SBWire
Valley Cottage, NY – (SBWIRE) – 04/12/2018 – Criptovaluta is the new face of the global financial ecosystem, with cryptocurrencies like Bitcoin, Ethereum, Ripple and Litecoin that quickly become the standard transactional forms for all companies. Cryptocurrency is supported by the highly advanced blockchain technology of distributed and secure registry entries that guarantee error-free transactions. However, the fundamental design of bitcoin incorporates a complex data mining process that requires additional mathematical models and algorithms to validate transactions inside the bitcoin blockchain, thus leading to a strong consumption of computational power. This could very well be an obstacle to the adoption of bitcoins and push people to choose cryptocurrencies like Ethereum (which is more energy efficient) and Ripple (which does not require mining).
Furthermore, bitcoin has been criticized by many for its relatively slow performance. Bitcoin takes about 10 odd minutes to create a single block and has the ability to handle around seven transactions per second (TPS). Ethereum scored around 20 TPS and Ripple by about 1,500 TPS, making it the obvious and most impressive choice compared to bitcoin. A third factor also comes into play. Bitcoin initially promised a total bypass of the centralized system to facilitate peer-to-peer value exchanges using digital cryptocurrency. However, volatile bitcoin prices and delays in completing time-sensitive transactions have drastically reduced the number of transactions that incorporate bitcoins. Suffice it to say that the bitcoin as a reliable cryptocurrency could soon lose its market value, blowing up the bubble that has risen to great heights in late 2017.
Cybercrime to threaten the growth of the cryptocurrency market; Social media can solve legitimacy concerns
Since cryptocurrency has become an acceptable means for the exchange of digital resources, the cryptocurrency market has been hit hard by increasing cases of cybercrime, threatening the legitimacy of the cryptocurrency ecosystem. The cryptocurrency market has undergone increasing incidences of fraud on legitimate transactional activities. A number of money laundering cases through fake accounts created using stolen and counterfeit identities; and hacking legitimate accounts to transfer payments for fraudulent transactions have come to the fore in the cryptocurrency market. Companies need to leverage the power of advanced cyber threat information to detect dubious online behavior and to prevent and mitigate cybercrime in the cryptocurrency market before they hit end users through data breaches or loss of money.
Social media and online messaging networks can provide relief to this problem of legitimizing the value of cryptocurrencies. Social media networks have begun to incorporate cryptocurrency as a legitimate and viable means of transaction, in line with an unconventional approach to increasing revenue and product awareness. Social networking strategies are based on the notional paradigm that cryptocurrency is able to create self-sufficient economies that could someday render traditional advertising services and value-based services obsolete. With the social media giant Facebook plans to launch its own cryptocurrency and the cloud-based instant messaging service provider Telegram which explores the implementation of a multi-blockchain payment gateway, the future trajectory of Cryptocurrencies could ride the solid blockchain architectures built into social networking and private messaging channels.
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Regulatory mandates to define investments in the private sector in the regional panorama of cryptocurrencies
With the cryptocurrency that is rapidly gaining ground all over the world, the need for strict regulations governing the use of cryptocurrencies is more relevant today, given the enormous investment risks associated with digital currencies. The United States has been at the forefront of cryptocurrency; however, the cryptocurrency landscape in the United States is more fragmented with each state defining individual laws and regulations governing the use of digital currency. States with clear and well-defined rules will most likely benefit from the progress of blockchain technology and increased investment in cryptocurrency, thus pushing other states to strengthen their cryptocurrency regulations.
License mandates set up by individual states in the United States may threaten non-US investors and cryptocurrency licenses will mainly depend on how the United States handles cryptocurrencies. If treated as a currency, federal regulations will undoubtedly take precedence over individual state licensing rules. If treated as securities, companies offering cryptocurrency products – especially Initial Coin Offerings (ICOs) – will have to sign up to Blue Sky Laws (state security laws applied to protect investors from fraudulent activity) and register their product offerings. before any sale in the cryptocurrency market. The cryptocurrency market scenario in the European Union appears to be positive both in the UK and in the European Union combined in their plans for implementing cryptocurrency regulations – despite Brexit. The regulatory plans are on the anvil to create a safer environment for cryptocurrency trading, in order to protect investors from the risks deriving from price volatility, operating problems, safety declines and pecuniary losses.
The Asia-Pacific region is rapidly becoming an important hub for digital trading and cryptocurrency. Countries like Japan, Singapore, South Korea and Thailand are gradually embracing the concept of cryptocurrency trading and adopting blockchain technology. The right regulations will create a more positive environment to make the cryptocurrency market thrive in all these countries. A recent development in the cryptocurrency market has been the adoption of virtual currencies by the Middle East. With cryptocurrency trading now officially declared compatible with Sharia, the Middle East countries including Dubai and Saudi Arabia are actively contributing to the growth in revenues from the cryptocurrency market in the Middle East.
Segmentation of the cryptocurrency market
The global cryptocurrency market can be broadly classified as follows:
By component
Software
Blockchain
Wallet
Exchange platform
Mining platform
Hardware
Application-specific integrated circuit chip (ASIC)
Graphic processing unit (GPU)
Field-Programmable Gate Array (FPGA)
Services
By type
Bitcoin
Ripple
Ethereum
litecoin
Dashcoin
To tie
Monero
Others
For final use
E-Commerce and Retail
sending
Peer-to-peer payment
Others
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Cryptocurrency market Highly beneficial for existing players and new participants; The extraction of Bitcoin could turn into an oligopolistic market in the future
The global cryptocurrency market is growing day by day and profitable opportunities are at the horizon for companies that deal with virtual currencies. While the question of whether bitcoin will continue to dominate the cryptocurrency market is still questionable, bitcoin mining could create a niche and make the cryptocurrency market an oligopoly. Some of the leading companies currently operating in the global cryptocurrency market include Microsoft Corporation, IBM Corporation, Coinbase, Digital Limited, Bitstamp Ltd., Bitfury Group Limited, Coinsecure, Unocoin, Global Area Holding Inc., Poloniex Inc., Bitfinex, BTL Group Ltd. and Zeb IT Service Pvt. Ltd.
This large research study on the cryptocurrency market evaluates the various dynamics that influence Y-o-Y performance growth and benchmarks and revenue growth, keeping track of historical data, forecasts on current revenues and future market forecasts. The insights presented in this report on the global cryptocurrency market were collected through exhaustive secondary research and validated through in-person interviews with the main market players. Some predictions on the future growth of the cryptocurrency market are based on a set of methodologies and models of research framework designed in-house.
For more information on this press release, visit: http://www.sbwire.com/press-releases/cryptocurrency-market-key-players-microsoft-corporation-ibm-corporation-coinbase-digital-limited-bitstamp-ltd- among -Other-1097428.htm
