Blockchain rose against the tides in 2017. What can we expect in 2018?
In an eventful year, the crypto industry has risen against several stumbling blocks as they have turned out to become platforms for publicity and awareness. However the industry capacity suggests more eventful seasons ahead as disruption continues.
Tangle (DAG) vs Blockchain
A Tangle is a novel technology concept that can mitigate most of the problems associated with blockchain based cryptocurrencies. Cryptocurrencies relying on a “Tangle” have no transaction fees, miners or blocks. Examples of Tangle based cryptocurrencies include IOTA and Byteball. With Byteball you can make safe contracts that will be executed exactly as agreed upon. IOTA is ideal for micropayments and “machine-to-machine” payments.
Ripple’s XRP becomes the second largest cryptocurrency by market cap
While all eyes were on bitcoin, it seems ripple (XRP) was preparing to end 2017 on a high note. Having started the year at a mere $0.64, ripple’s XRP is currently trading at an impressive average of $2.20. Bitcoin, the largest cryptocurrency, grew by 1,400% this year. In contrast, ripple has risen by over a massive 34,700%.
Crypto market closes up with NYSE as daily trading volumes rise
Bitcoin reached its latest record-breaking high of almost $20,000 this month, having started at $1,000 in the beginning of 2017. Other currencies, such as ethereum and litecoin, saw commendable progress as well this year. Although out shined by bitcoin, 2017 was a good year for many coins.
Smaller exchanges support forked coins while major exchanges refuse
With developers forking the tokens, and larger exchanges refusing to support the resultant currencies, the market is experiencing a void that is being filled by smaller exchanges. When interested users are made to go to lesser-known exchanges, these companies see a rise in their revenues from trading fees.
EtherDelta still not safe for use even a week after hacking attack
If the affected users’ complaints are to be believed, then none of the exchange’s clients are safe, even now. There are users who did not lose anything at the time of hack, but are now losing funds. Considering the company’s daily trading volume of $11 million, criticism from users is inevitable.
Opera to offer protection against cryptocurrency-mining scripts
To tackle this issue, the popular internet browser, Opera, is introducing an anti-mining feature in its ‘Opera 50’ version. The new feature, called “NoCoin”, will work similar to an AdBlocker. Just as an AdBlocker blocks advertisements from a web page, NoCoin will block suspicious scripts.
Cryptocurrency prices are mostly influenced by demand levels
Cryptocurrency prices can be affected by many factors including news, pump and dump schemes, deliberate actions and others; however, demand levels are by the most powerful influential affecting prices of various coins.
Recent attitude of government is positive toward blockchain technology
The gradual acceptance of the disruptive technology is evident in the actions of governments and institutions that are showing significant signs of adoption. A very obvious example can be seen in Gibraltar’s draft regulations for blockchain startups.
Former FDIC chair believes bitcoin should not be banned
Sheila Bair, former Federal Deposit Insurance Corporation (FDIC) chair, expressed her opinions on Yahoo! Finance. Although her ideas were similar to those of other financial regulators, her take on cryptocurrency itself is quite interesting.
