Cryptocurrency Trends in 2020
A look at cryptocurrency trends in 2020
Cryptocurrency trends in 2020 will change everything we know about the world. This year marks the beginning of new things for the crypto space. Many have said one thing or the other about what 2020 will look like but they haven’t seen how the crypto space will change come 2020. The trend of events in the past decade has already given an indication that decentralization is the next big trend in the world. From logistics to finance, hospitality to medicine, humanity is already on the path to full decentralization. Many people just don’t realize it yet.
When it comes to trends, there are a few projects of note that will define what the crypto space will look like this year.
The Next Dapp Revolution is on its way
In 2020 we shall see an increase in the use of decentralized applications and their many solutions therein. This, of course, will be driven by the need for different kinds of solutions to the problems presented by the existence of legacy systems. EOS might just be the blockchain to lead others in this regard.
EOS has been of late one of the projects that didn’t gain any traction last year. However, the new EOS integrated development environment has significantly improved since it was released last year. EOS this year may become the Ethereum killer others have touted it to be. The development of decentralized
applications has changed and developers need new tools to be able to create new kinds of d’apps. EOS offers developers the opportunity to develop their applications in their native programming languages and to implement this code using a common interface to the EOS blockchain.
This will be one reason why the EOS project will most likely bring in new concepts in the development of blockchain applications. This will create a whole new ecosystem within the cryptospace. Ethereum’s hard fork though will also be interesting to watch.
Sidechains will Return as a Cryptocurrency Trend
The concept of sidechains was very popular early in the decade. We shall see a return of sidechains to the most popular cryptocurrency projects. These sidechains interestingly solve the problem of scalability and use. They represent the next evolution of the cryptospace in general. Sidechains with new capabilities such as rootstock that merges smart contract capability with the Bitcoin blockchain will also be something new as well. Sidechains will give further functionality to current first-generation cryptocurrencies and will also expand the use-case scenarios of the crytpospace as well.
Sidechains as a concept even though they haven’t been popular will receive renewed interest this year. This is because of what they can do and how they can increase adoption of cryptocurrencies. Sidechains with different uses will also change how cryptocurrencies will be used. This, of course, is what the cryptospace has been waiting for and innovative individuals will make this happen.
Decentralized Trading of Digital Assets will Increase
Blockchains with the capability to trade digital assets and decentralized applications with similar capability will also create a new scenario this year. Centralized trading of digital assets is fraught with risks and the idea behind the trading of decentralized assets will increase in popularity. This is due to all the problems that centralized trading has brought to the cryptospace. From regulatory issues to fraud, security to legal issues, decentralized trading is going to increase over the next year to become one of the principal ways that digital assets are going to be exchanged.
This will also give the cryptospace another way out of centralized control which has been one of the principal reasons for the lack of expansion of new projects within the cryptospace.
Examples of this include the Binance Dex, Waves, forkdelta among others.
New Vehicles of Finance and Investment will Emerge in new Cryptocurrency Trends
Currently, decentralized finance (DeFi) is on the rise and as such new forms of finance and investment will rise beyond anything that we have ever seen this year. The cryptospace is already proof-of-concept that decentralized assets can hold value due to their trustless nature.
As such, we are going to see a rise in different kinds of investment vehicles that will change the way the global finance and investment industries interact. This is because the principle of triple-entry accounting is what will create a new way to measure the true value of international markets. This will also go a long way in changing how people see the finance world. Decentralized finance will also herald new types of cryptocurrency trends as well. This will make 2020 to be the year that everyone will remember.
Projects that look promising in this regard include Wolfs group,(that combines several investment options together with payments and blockchain solutions, Maker DAO, which is the most successful D’app on the Ethereum blockchain currently and is growing by the month based on its collateralized debt positions, Coinbases’ compound Finance, which is an attempt of the cryptocurrency exchange to create a hybrid DeFi vehicle and Uniswap, where swapping of ERC20 compliant tokens takes place in realtime among others.
New forms of finance and investment will also allow more people to be involved in DeFi projects on a large scale. This will also allow for security, privacy and also for new forms of liquidity to be available on a global scale.
This will create a foundation for new kinds of millionaires. Those have used their knowledge to invent the future y getting there first.
2020 offers an exciting time!
What do you think 2020 has to offer for 2020?
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