The digital investment space has witnessed massive growth thanks to the introduction of Bitcoin and other cryptocurrencies. Bitcoin was introduced less than a decade ago, and since then, its value has been skyrocketing. Today, it has surpassed the imagination of many who held any doubts. Bitcoin is currently the largest cryptocurrency in the world by market cap. Click here the best bitcoin slots and crypto slot sites.
While Bitcoin (BTC) is the most popular, more than 5000 cryptocurrencies are in circulation, unknown to many. Some of these new currencies are recording higher returns than Bitcoin. For example, since 2020, Ethereum, which ranks second after BTC, rose by 750%, far more significant than the 600% recorded by Bitcoin within the same period. With such figures coming to play, what does the crypto revolution have in store for 2021 and beyond?
The Crypto Journey
As the technological atmosphere changes to accommodate new challenges, new assets have been introduced. This has been observed in the cryptocurrency industry and other sectors such as gambling. The gambling industry has seen significant changes with the drastic move from land-based casinos to online casinos. As if this was not enough, these casinos have been optimized for mobile devices, which allow players to play mobile slots while on the go. These casinos also offer impressive welcome/deposit bonuses and offer a variety of payment options such as credit/debit cards, Skrill, and Paypal.
For the crypto industry, this digital age has seen an introduction of cryptocurrencies as the latest form of assets. Many of the currencies in the market today may not bear significant utility, but they are said to be an improvement to Bitcoin. For example, Ethereum is more versatile than Bitcoin as its blockchain serves as a platform for smart contracts and decentralized applications.
What to Look for
Bitcoin has been around for quite some time, and while investors regard it as a significant asset, they are on the lookout for a crypto asset that offers more going forward. Market trends and currency value are important aspects to watch when you need to recognize the next big crypto; however, price is not the only factor.
Most investors are interested in the supply of the currency and how functional it is in the economy. If a cryptocurrency meets most of these criteria, it will grow and survive without any hindrances. Regarding supply, every currency should be limited to manage inflation. Another crucial factor is the development team of the currency, especially the leader, as they highly influence the popularity of a project. For example, Gavin Wood, who was the co-founder of Ethereum, has played a vital part in the success of Polkadot.
The Next Crypto Revolution of 2021
The world is witnessing groundbreaking innovations, and cryptocurrencies rank among the fastest technologies transforming the global economy. New cryptos are introduced from time to time, featuring higher levels of functionality and utility. Unfortunately, cryptocurrency chain fraud has also emerged, which is expected, seeing that this is a lucrative industry. Some of the trends that are proving revolutionary for 2021 and the years to come include:
This is no doubt the next-generation technology in blockchain. Polkadot creates a network of blockchains unified into one component. In practice, a single blockchain facilitates just a few transactions at a time. Polkadot unifies the system to perform several transactions on numerous chains simultaneously. This is a practical solution that enables blockchain technology to realize its full potential. Polkadot also focuses on solving scalability problems, enabling blockchain networks to optimize for specific use. Polkadot will likely become an integral part of the blockchain field, and a smart contracts platform as the ecosystem matures.
Non Fungible Tokens (NFTs)
NFTs are unique files that live on a blockchain and this allows buyers to verify ownership of intangible assets. Some of the assets covered under NFTs include virtual real estate, music data, and artwork. Each NFT is distinct, with unique data that helps clients to differentiate them. With platforms such as Christie’s, buyers get limited rights to display digital artwork, which they can later resell. Over the last few months, this technology has explored seeing artists such as Beeple sell digital artwork worth $69 million. NFTs are being seen by many as the way digital art will be traded going forward.