The price upheavals in the past year and a half have caused tremendous changes in the crypto industry. The result of the changes has been a market, more mature than ever and that which is experiencing more appreciation, acceptance and infrastructure development
Most crypto enthusiasts today are blind to the fact that there are different tiers of cryptocurrency besides the investment and price perspective. The technology part of cryptocurrencies is also the most fundamental in the success of blockchain. It’s the one experiencing maturity without attention from the outside world.
This is according to analysis findings by Flipside Crypto. The research which is based on developer activity, user activity, and the general crypto markets, has concluded that the crypto industry is getting healthier.
Decentralized Applications
One of the most exciting parts of the blockchain era is the development of decentralized applications, popularly known as Dapps. At first, the crypto space was all about virtual currency development, but the entry of Ethereum into space has steepened the development curve.
Ethereum’s latest projects, like the growth of non-custodial decentralized finance, have taken sophistication to an entirely different level. The apps are getting increasingly sophisticated to solve a variety of tech needs.
Decentralized applications dealing with data also deserve mention. They are probably the internet’s battlefield in the future. As more data is stored online, these apps provide more privacy and storage solutions.
Strengthening Privacy And Security
One of the most devastating issues in the crypto community is coin and exchange hacks. However, different measures are being applied to deal with the issue. Bitcoin, for instance, is adding Schnorr signatures and Taproot updates in an effort to curb the same. The measures hope to solve bitcoin’s functionality, privacy, and efficiency.
The move mirrors the projects in the crypto space at the moment. Record investments are being poured into security and privacy solutions. It is a sign that the industry is maturing. However, there should be a concern about the overall credibility of the industry.
Liquidity Growth And Third Party Platforms
Besides the maturing crypto projects, there are more third-party projects serving support functions. They serve in the form of third-party custodian solutions like Fidelity Investment and Anchorage.
Fidelity and Anchorage provide crypto asset solutions to the global crypto masses. People being served do not wish to own private keys. It may not be easy to trust random exchanges, but that’s how these institutions came up.
Blockchains have grappled with the issue of liquidity for quite some time and the rising rate of coin adoption is the reason why. It has now surpassed peers expectations. As such, the rate of growth in trading platforms has also increased global liquidity. It includes Tagomi, Omniex, Coinroutes, FalconX among others
Traders and investors can give up less value in transactions to exchanges. The Xrapid solution leveraging XRP is another liquidity solution for banks involved in cross-border transactions. This kind of solutions cut out the middlemen and make the industry more transparent.
As you can see, the crypto industry is at a better place than it was, thanks to the advancement of technology inherent. Even though cryptocurrencies have operated in bear territory for the past year, the fundamental growth has endured it all.