Blockchain and cryptocurrencies like Bitcoin, Ethereum, Litecoin, and many others saw unprecedented jumps in popularity during 2017. Once regarded as a fad that would not see mass-adoption, last year marked rapid progress in blockchain technologies and crypto currencies. Initial Coin Offerings (ICO) have become an increasingly popular way to raise money for new companies in the cryptocurrency vertical marketplace, and investors see Initial Coin Offerings as a way to invest at the ground oor. The number of cryptocurrency exchanges (and coins) have increased dramatically. Blockchain technologies have also inspired mainstream discussions for it serving as a solution to a multitude of problems from a secure form of storage and passing of information to a decentralized method of transferring and storing value across a secure network. Leading digital currencies like Bitcoin fully established themselves in the mainstream. Investors large and small started to line up to invest in digital coins
While news in 2018 has been a bit different, especially with big price dips in some of the earlier months of the year, investing and trading cryptocurrencies remains popular, and is seeing regular mainstream coverage. A massive inux of new investors (thanks to the events of last year) has a number of exchanges facing the challenge of trying to keep pace with the increasing demand. Industry leaders like Binance and Bittrex have been issuing warnings about massive growth, and namely, how the rising rate of users on their platforms could lead to temporary slowdowns, increased system upgrades, and periods of time during which certain features such as new user registrations, deposits, and withdrawals would be
disabled to keep their platforms steady. Some popular exchanges have been forced to stop accepting new users for extensive periods of time or have greatly extended the new user registration review and processing periods to give their internal teams more time to go through people’s information and verication documents. Increased interest in cryptocurrency investing (and blockchain technology in general) has been good for the market. People have started to think about the long-term applications of digital coins and blockchain. Cryptocurrency computing has seen a spike in usage and popularity as companies are starting to repurpose their existing hardware and software by adapting them to blockchain technology in order to jump into the future and not get left behind in the midst of these technological advancements.
Many businesses have been springing up that deal with all things cryptocurrency. Virtual coin mining has become a popular activity for many people. But mining has gotten tougher as difficulty levels increase and timing the volatility of the market for maximum protability requires extensive monitoring, for some of the leading cryptocurrencies. Also, bigger mining enterprises usually require a lot of expensive power and equipment to run. Cloud hash rental contracts also come with unmitigated risks and often end up losing the investor more than they make. As a result, a number of efficient computing solutions are being developed so crypto-miners can work without racking up high electricity bills and remain efficient with their work. Crypto’s that offer staking for network rewards often eliminate many of the unneeded risks and technical expertise that is needed for protable mining, providing a more reliable form of income than traditional or cloud mining.