Bitcoin and cryptocurrency have become a difficult business due to the long bear market. Stories of enormous wealth accumulated overnight and other success stories dried up, but there are reasons for hope. Asia Crypto Today wrote about four positive factors for the development of cryptocurrency.
Popularization of blockchain technology among developers
If the industry employs many professionals involved in various projects, this is a sign of the health of the industry. Now more and more programmers and developers around the world are working with blockchain technology .
Firstly, since the beginning of 2018 the number of downloads Ethereum Solidity programming language with Github has increased almost nine-fold, indicating that interest in the development dApp based Ethereum increases.
Secondly, a large number of decentralized applications (dApps) are being created. According to the State of dApps industry report, since 2017, the number of published projects has also increased, and the number of releases has tripled in the past 12 months.
Many applications are created on platforms such as Tron. Recently, Misha Lederman posted a tweet in which he wrote that on average per day, developers add two new applications to the Tron ecosystem (TRX).
#TRON has 274 DApps live on @dapp_review , edging on the 300 DApps landmark
What is remarkable is that TRON passed the 200 DApps milestone only 35 days ago, meaning that #TRX added an average of 2 DApps every day since then ?
Growth pic.twitter.com/Bw3HNH8H3A The growth of the TRON ecosystem is unquestionable
– Misha Lederman (@mishalederman) March 22, 2019
Finally, we note the popularity of innovative technologies among many banks, financial companies and even social networking sites seeking to create and implement their own cryptocurrencies.
In addition, countries such as Japan, Iran, Venezuela and Saudi Arabia are developing their own cryptocurrency projects.
Increasing the number of vacancies in the blockchain industry
Like developers, the number of job advertisements in the crypto and blockchain industry is an important indicator of the industry’s overall health. According to Chain News, their number has steadily increased over the last year.
Growth of investment in the crisis industry
Famous venture capitalists from Silicon Valley and in other countries realized the value of cryptocurrencies and invested unprecedented amounts in them. Venture funds that also make serious investments include Sequoia Capital, Digital Currency Group, Pantera Capital, Andreessen Horowitz, Draper Associates, and Google Ventures.
This suggests that venture capitalists are optimistic about the prospects for the blockchain industry and have high hopes for a return on investment.
Growth in the number of cryptocurrency wallets
The more wallets – the more market participants: over the past 12 months, the number of bitcoin and ethereum wallets has grown about 3 times, which indicates an increase in demand for cryptocurrencies.
Number of bitcoin wallets , according to blockchain.com:
The number of Ethereum wallets , according to blockchain.com:
In addition, a separate mention should be made of the advantages of the Lightning network, which increases the speed of transactions in comparison with traditional payment methods.
Conclusion
Many people say that the crypto industry is dead, but how wrong are they? Perhaps Bitcoin and other currencies are in the best condition, with an unprecedented level of development and adoption.
Indeed, this is not the best time for a profitable business, but in the next stages amazing things can happen, the prerequisites for which are laid now.
Publication date 04/02/2019
Share this material on social networks and leave your opinion in the comments below.
