Topic: The Best is yet to come for the Blockchain and Crypto Market. (Read 79 times)
solid post. Btw the Blocknet's block DX is basically the only true DEX out there. A lot of projects are using that term merely for marketing purposes. May the best tech rise to the top in due time.
Crypto and Blockchain technologies have unique FEATS and lots of Business Model which could easily gain traction for Banks and Institutions. And when it comes to determining crypto's future, it is hard to determine how it will progress. Fanatics would say blockchain numbers would exponentially increase and the value of the digital tokens would triple in the next few years since it was able to rise high enough in the first quarter of the year 2021. Skeptics would claim that the unpredictability of the crypto market will be the very reason for its downfall.
The problem with the cryptosystem is that its price changes every minute, depending on the flow of supply and demand within the market. This makes crypto an unstable investment for most people and is more likely engaged only by those people who are willing to risk what they have in hopes of getting something big in return. The worst-case possible is that the investments placed on the digital blockchain may go downhill, losing the prospective income. Another thing to point out is the costly requirement to earn crypto. You have the option to purchase crypto through trading with fiat. You may also go with the option to mine cryptocurrencies. However, this mode of acquisition requires computational power and electricity input, as well as the necessary equipment to do the mining work, making it very energy-dependent.
Crypto's decentralized and trustless features also pose disadvantages to its users. A system that is not owned by anyone is subject to cybersecurity breaches and even hacking. Other blockchains also claim that they are decentralized, where in fact they are actually controlled by a centralized organization backed up and monitored by a third-party mediator.
On the other hand, what makes crypto intimidating is that it is not controlled by the government, and is not affected by the economic state of the world. People can also easily create transactions with one another and trade or transfer their assets without the need to secure commissions, paperwork, brokerage fee, and any other conditions. Its trustless and fluctuating nature may seem to look bad, but it can be a positive trait where people can take care of. The unpredictability of crypto's value is also a factor for some people who are ready to gamble their money. They buy coins when rates are low, waiting patiently for them to exponentially grow within the years to come, and sell these assets at the highest price possible.
We must not forget that despite the outbreak of the global pandemic, the crypto ecosystem was able to grow. Bitcoin's mid-November 2020 value surpassed expectations and has retained its all-time high price up until the first quarter of the year 2021. This big news has attracted investors and outsiders to try out investing in the crypto market. The global pandemic has also encouraged and promoted the use of online payments and purchases, making it possible to use crypto in today's trading.
Crypto's market cap today is at one point sixty-eight trillion dollars ($1.68T). The sudden rise of Bitcoin in late 2020 has garnered the interest of businesses and corporations. According to "The Article", one of the oldest insurance companies in the United States, named Massachusetts Mutual Life Insurance, has secured one hundred million dollars ($100,000,000.00) into Bitcoin. The infamous Tesla Motors, an electric-vehicle company also announced in a filing with the Securities and Exchange Commission (SEC) that it had purchased one point five billion dollars ($1.5B) worth of Bitcoin for its balance sheet, and would soon accept crypto as a form of payment, in accordance to Mr. Sean Williams' Motley Fool article.
Despite the unsupported pessimistic rumors, blockchains are continuously developing and becoming more decentralized and accessible like never before. Take Blocknet for example, a decentralized exchange platform with its Block DEX/DX responsible for integrating and communicating different blockchain titles with one another. Its clients can also integrate Blocknet's XLite Wallet to Block DX to perform cross-chain trading without the need to download full chains. To date, Blocknet's Block DX caters one hundred twenty-four (124) assets, seven thousand six hundred twenty-six (7,626) trading pairs, and thirty-five thousand (35,000) trustless trades.
Needless to say, dealing with such a young revolutionary technology requires willingness and patience. Right now, crypto companies are slowly becoming a digitalized version of banks, and banks are now opening their doors to accept crypto. The tides of war are changing, the tables are gently turning. The cryptocurrency market has experienced several positive developments in the past few months which actually helped promote itself to a larger population. Its game-changing constitution shall gradually penetrate the world, the markets, and the lives and people.
The problem with the cryptosystem is that its price changes every minute, depending on the flow of supply and demand within the market. This makes crypto an unstable investment for most people and is more likely engaged only by those people who are willing to risk what they have in hopes of getting something big in return. The worst-case possible is that the investments placed on the digital blockchain may go downhill, losing the prospective income. Another thing to point out is the costly requirement to earn crypto. You have the option to purchase crypto through trading with fiat. You may also go with the option to mine cryptocurrencies. However, this mode of acquisition requires computational power and electricity input, as well as the necessary equipment to do the mining work, making it very energy-dependent.
Crypto's decentralized and trustless features also pose disadvantages to its users. A system that is not owned by anyone is subject to cybersecurity breaches and even hacking. Other blockchains also claim that they are decentralized, where in fact they are actually controlled by a centralized organization backed up and monitored by a third-party mediator.
On the other hand, what makes crypto intimidating is that it is not controlled by the government, and is not affected by the economic state of the world. People can also easily create transactions with one another and trade or transfer their assets without the need to secure commissions, paperwork, brokerage fee, and any other conditions. Its trustless and fluctuating nature may seem to look bad, but it can be a positive trait where people can take care of. The unpredictability of crypto's value is also a factor for some people who are ready to gamble their money. They buy coins when rates are low, waiting patiently for them to exponentially grow within the years to come, and sell these assets at the highest price possible.
We must not forget that despite the outbreak of the global pandemic, the crypto ecosystem was able to grow. Bitcoin's mid-November 2020 value surpassed expectations and has retained its all-time high price up until the first quarter of the year 2021. This big news has attracted investors and outsiders to try out investing in the crypto market. The global pandemic has also encouraged and promoted the use of online payments and purchases, making it possible to use crypto in today's trading.
Crypto's market cap today is at one point sixty-eight trillion dollars ($1.68T). The sudden rise of Bitcoin in late 2020 has garnered the interest of businesses and corporations. According to "The Article", one of the oldest insurance companies in the United States, named Massachusetts Mutual Life Insurance, has secured one hundred million dollars ($100,000,000.00) into Bitcoin. The infamous Tesla Motors, an electric-vehicle company also announced in a filing with the Securities and Exchange Commission (SEC) that it had purchased one point five billion dollars ($1.5B) worth of Bitcoin for its balance sheet, and would soon accept crypto as a form of payment, in accordance to Mr. Sean Williams' Motley Fool article.
Despite the unsupported pessimistic rumors, blockchains are continuously developing and becoming more decentralized and accessible like never before. Take Blocknet for example, a decentralized exchange platform with its Block DEX/DX responsible for integrating and communicating different blockchain titles with one another. Its clients can also integrate Blocknet's XLite Wallet to Block DX to perform cross-chain trading without the need to download full chains. To date, Blocknet's Block DX caters one hundred twenty-four (124) assets, seven thousand six hundred twenty-six (7,626) trading pairs, and thirty-five thousand (35,000) trustless trades.
Needless to say, dealing with such a young revolutionary technology requires willingness and patience. Right now, crypto companies are slowly becoming a digitalized version of banks, and banks are now opening their doors to accept crypto. The tides of war are changing, the tables are gently turning. The cryptocurrency market has experienced several positive developments in the past few months which actually helped promote itself to a larger population. Its game-changing constitution shall gradually penetrate the world, the markets, and the lives and people.
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