The one method that will impact the whole cryptocurrency world is a method of block validation i.e known as Proof of Stake (PoS). But before proceeding further, understand the conceptual meaning and what’s the difference and why it is an important factor.
The technology on which the digital currency runs is blockchain technology and the currencies uses the validation protocol i.e termed as Proof of Work (PoW). While with other traditional methods the user has to trust the third party like Visa, a bank or a cheque to settle the transaction.
These type of entities are centralised which means these are companies owns their private ledger that stores the transaction’s story and the account balance. Everytime the transactions are done it will be shown and in response, you either agree or raise the dispute. The transactions are seen only by the parties.
The digital currencies like Bitcoin involve the decentralised ledger which means everyone in the network will have the copy and eliminates the process of trusting any third party like a bank, as the process makes the user self-sufficient to verify automatically. The algorithmic problems become complex and require powerful and expensive computers which can solve the problems. Moreover, there are some specialise computers available consisting of ASIC chips and are considered as versatile and faster.
The things which we should learn from the previous year:
The article includes all the important aspects that can develop, or has developed the trends in the year. Meanwhile, we will lookback in the year and see where we have reached so far and where we are heading.
ICO has shown a tremendous success by a throughout trajectory over the year. But later on, the process gets a little slow because of the governmental regulations like SEC and CFTC. These are followed in order to provide the protection but it has made the crypto projects difficult.
Although, the Dapp platform has taken over the year and the regulators pushback at 70% which has led and spiked the ETH price. Furthermore, it is predicted that the ICOs will raise the value of the platforms as well as the necessity of fundraising such as pre-ICO.
The very first and trending platform is Dapp platforms. We have seen the blockchain integrated platforms that have the potential to become the “Ethereum Killers” such as EOS and Tron. Even, there were predictions that it is too soon for the Dapp to succeed in fact, there are many who get failed but will continue to pull through.
ETH, NEO, and EOS were the active participants of Dapp platforms in the previous year. Though, the dynamic progress was seen with the Tron mainnet that results into Dapp migration from Ethereum to Tron.
Scalability has brought a new trend which has continued to make the splash this year. With the bear market, there was a question that is crypto capable enough to claim what they had predicted. Sooner companies will grab the opportunities which can give the scale to the blockchain business. Including the sharding and an upgrade to the coins.
Indeed, the trend will bring the revolution in the cryptocurrency market. Platforms like Atriark has enabled the people to purchase the coins easily and in fact, the company has given more advanced and fruitful features along with that. Even growing at a faster rate to give the financial support by airdrop coins during on season.
This year it is expected that the crypto market will achieve a higher valuation. Although, the valuation may not be what’s expected and might take a while before it gets back to the remarkable heights of last year.
It is certain the development of crypto will be exciting and fun to watch. Along with that a lot of predictions irrespective bad or good. So share with us, what you think and how you see crypto this year?
