New Cryptocurrencies

How Will Cryptocurrencies Develop in 2019?

For bitcoin 2019 will become a landmark. Many experts in the industry think so. In January 2019, the technology of blockchain will turn ten years old. Satoshi Nakamoto, the mysterious person who created bitcoin, released the cryptocurrency code in January 2009. Since then, the market of digital assets has replenished with more than 1600 new varieties. The main issue here is when these technologies will reach mass acceptance?

What to Expect in 2019

News in the world of bitcoin appears every day. But the cryptocurrency is still considered to be a speculative investment. Most investors today are looking for the next bitcoin or Ethereum – cryptocurrency, the price of which will start to increase sharply. In order for bitcoin to receive the widespread recognition, speculation should give way to the real utility. The technology of blockchain should be widely used in everyday life.

Throughout the entire period of the blockchain, developers have been busy creating numerous applications. According to some data, 1565 decentralized DApps have been created on the Ethereum block. With proper use of mobile and desktop applications, Bitcoin and other currencies will come to the fore. However, these DApps must offer excellent service. Otherwise, there will be no incentive to use them.

Carl Bennetts predicts the status of DApps in 2019 in this way: “We expect the creation of an easier user interface for mass use in 2019. This will make it easier for the general public to enter the cryptocurrency sector.” In 2017, blockchain of bitcoin became popular with its high transaction fees and slow processing rates.

Cheaper in 2019

However, in 2018, the situation seems to have changed. Commission for bitcoin operations is at the lowest level. The processing time for payments has decreased significantly. Commenting on this positive development, Yoav Dror said: “Until recently, the main problem was the duration and cost of handling cryptocurrency transactions. Because of them, bitcoin became unsuitable for daily payments. In 2018, we saw that operations can be fast, cheap, and suitable for daily work.”

Even if in 2019 the governments of the countries will create favorable rules and the blockchain will get wide distribution, it still has one serious problem – scalability. Five to ten transactions per second are too few. In order to bitcoin or Ethereum began to be perceived seriously, they will have to process hundreds of transactions more.

The market of cryptocurrency is constantly in the process of development, which leads to the continuous appearance of new monetary units and methods of obtaining them. For example, a little-known, but gaining popularity, the Status, appeared thanks to browsers and social networks. The basis for Golem, which is already moving up the rating positions, has become the well-known Ethereum.

So, whether the cryptocurrency will see mass recognition in 2019? Pessimists say that it is unlikely. Space is still filled with projects that have limited viability. However, 2019 will be the beginning of the awakening of the digital currency market.