Between now and 2024, the crypto market is estimated to experience a CAGR (Compound Annual Growth Rate) of 6.18% to comfortably attain a total valuation of $1.4 billion, up from the current $1.03 billion. That’s according to a recent report released by MarketsandMarkets, a firm that deals in market research.
The report is titled “Cryptocurrency Market by Offering (Hardware: GPU, FPGA, ASIC, & Wallet, and Software), Process (Mining and Transaction), Type, Application (Trading, Remittance, Payment: Peer-to-Peer Payment, Ecommerce, and Retail), and Geography – Global Forecast to 2024.”
Hardware Market To Boom
According to this report, special hardware used in handling and mining cryptocurrencies will occupy the largest market share during the mentioned projection period. That will be fueled by the fact that cryptos are about to go mainstream and there will be growing need to verify transactions – and that goes hand-in-hand with crypto mining. As such, investors in the mining sector will need reliable hardware supplies.
Various popular hardware companies have already taken notice of this development and entered the market to provide what’s needed to fuel the growth. The companies include AMD, NVIDIA, and Intel. Also, there are start-ups like GateHub, Bitmine, and Bitfury.
Peer-to-Peer Crypto Transactions To Spike
As cryptos score mass adoption, their value is expected to rise significantly, which also means an increase in peer-to-peer transactions within the decentralized blockchain system. MarketsandMarkets projects that peer-to-peer dealings will see the highest CAGR during this time period.
APAC Region To Grab The Biggest Crypto Market Share
The report also indicates that the Asia-Pacific (APAC) region will hold the biggest crypto market share from 2019 to 2024. That’s majorly supported by the availability of cheap electricity in China, favorable weather, and easy access to venture capital. Japan contributes to the large regional market share by virtue of its early adoption of cryptos. However, China will take the mantle as the largest shareholder within APAC. In fact, the world’s biggest crypto miners are based in China. These include Ebang Communications, Canaan, and Bitmain.
In an interesting twist, the report argues that despite the APAC region retaining the biggest market share, it won’t grow with a higher CAGR than the rest of the world (RoW). In this case, the RoW, especially Africa, will record the highest CAGR.
Challenges
The report also warns that, although the crypto market in the RoW is expected to grow exponentially, the market will be plagued by issues of regulation and awareness of cryptos. To some extent, these factors will impede the market’s growth.
However, come 2024, the total valuation of the crypto market will have hit a whole new milestone at $1.4 billion.
The post appeared first on .
Stratis [STRAT] got many crypto-enthusiasts by surprise with its latest announcement and last day price performance against the US Dollar.
First thing first –
Launched in Aug 2016 by the developer named Chris Trew, Based in the United Kingdom, is a BaaS – Blockchain-as-a-service platform which targets and is ideal for institutions and businesses that are planning to implement their own blockchain with the use of a distributed ledger tech. According to the founder, the best developers are running things and working on it.
Very intriguing is the sidechain-based side of Stratis which gives the opportunity for private firms and corporations to create a customized project, while using the nStratis platform – the strategies developed by firms can be set in motion. All that is required is knowing Microsoft.Net and C# programming language. In which case, upon making the private sidechains real, the block-security is no issue to be worried about as they are kept safe and maintained on the main sidechain.
Turning back to the present, the Stratis Group Ltd got their hands on the ISV Silver Partner which will be a tremendous hoist and game changer for the team as Microsoft delivers major support for their partners to resources for further advancement and marketing.
Via the team up, the application which Stratis has running on MS cloud marketplace [Azire MP] will find their way to the user/costumer.
Per time of writing, the pair STRAT/USD is in the green at just below 20.00% for the last day reaching the $1.80 mark for the first time since beginning of September.
Source:
The post appeared first on .
Beaxy has partnered with OpenToken to conduct a token sale! Pre-registration is now open!
![Living on bitcoin [btc] day 3: brother, can you take a sat?](https://ohiobitcoin.com/storage/2019/01/DdvO2y.jpg "Living on bitcoin [btc] day 3: brother, can you take a sat?")
