Predictions drive cryptocurrency trends. To determine the business potential of crypto and the technology behind it, experts study market patterns and industry developments thoroughly. Their findings show incredible promise. On top of that, these cryptocurrency news also reveal that 2020 is shaping up to be a promising year for both investors and the industry.
Critical Crypto Developments for 2020
The cryptocurrency industry is an incredibly progressive one. Its markets continue to grow and diversify, as more and more companies and service providers turn to its technology to augment their operations. If the following milestones are anything to go by, crypto investors stand to gain a lot in the digital asset’s second decade as well:
- Ethereum 2.0 is at its final testing phase.
Ethereum is a decentralised system for currency and various applications. It revolutionises online transactions with its tamper-proof network designed to eliminate all risks of corruption, fraud, and third-party interventions.
Cryptocurrency news report that Ethereum 2.0’s Phase 0 has arrived at its final stage of testing. The team behind its upgrade has kept the community up-to-date with all the latest developments of the project. Ethereum users can expect next-level functions and performance soon, with a partial rollout expected in 2020.
- Nations announced interest in blockchain and cryptocurrencies.
Cryptocurrencies are becoming pervasive worldwide, pushing many governing bodies to consider their release and regulation.
China went from prohibiting citizens from purchasing cryptocurrencies to developing its own digital currency in 2019 and encouraging Chinese nationals to adopt blockchain technology. Meanwhile, many US politicians and regulators have softened their stance about cryptocurrency usage. The number of crypto-friendly countries is also on the rise.
- More privacy tools are hitting the market.
In recent years, many investors have started to get apprehensive about cryptocurrencies because of privacy concerns. An increasing number of privacy tools launched in 2019 have helped to quell these fears. For 2020, a wave of stronger, more efficient privacy tools is expected to improve the situation further.
Some tools patch up security lapses while others augment transactions over different blockchain systems. Thanks to such developments, many companies now have plans to drive transactions through public main-net despite having little to no knowledge of privacy protocols. Many cryptocurrency websites predict significant adoption momentum on this front.
- Decentralised finance projects have exceeded $650 million in value.
The overall value of decentralised finance (DeFi) projects has tripled in the previous year, amounting to over $650 million. This milestone was the result of ground-breaking trust-less and secure provisions of financial solutions, which introduced new lending and margin trending facilities to the industries. These developments allow traders to switch between various debt positions.
Meanwhile, various companies now give large-scale miners the opportunity to secure significant capital by keeping digital assets as collateral. DeFi’s profit potential is especially promising for those working with cryptocurrency experts.
- Libra set to launch in the summer of 2020.
Libra is an asset-backed stablecoin proposed by Facebook 2019. It is a part of a group of low-volatility assets in multiple currencies. While it has yet to clear most of the regulatory hurdles for its release, the cryptocurrency has the full support of significant business players, such as Vodafone, Uber, and Coinbase. The social media giant’s adoption of Libra can mean the widespread use of cryptocurrency in the future.
Anticipate Upcoming Crypto Developments
Cryptocurrency may still be at its infant stages, but recent and upcoming developments show that it is only a matter of time before it achieves this feat. Maximise its business potential by investing as early as possible.
Integrate the technology behind it into your company operations to start the new decade with an edge over your competition. Work with credible blockchain technology companies. Get in touch with Key Coin Assets at 843-886-9547 to learn more about cryptocurrency and the technology behind it. Contact us NOW and start to invest in yourself!