FxPro: Crypto-developers becomes poorer but more creative

Unfavourable market environment makes crypto developers more creative

Bitcoin is in no hurry to decline Cryptocurrencies continue their drift. Leading coins demonstrate almost zero dynamics. However, a number of interesting events occur in the background.

The market as a whole has ceased to panic. The capitalization accumulated during the recent rally remained in place, speculators did not rush to stick to their profit after the rally reached its local highs. Hope is growing that new money has entered the market without relying on quick profits.

The cryptocurrency sector monitoring is now one of the priorities for the U.S. Commodity Futures Trading Commission (CFTC) in 2019. It is obvious that officials are striving to pass faster the era of the “Wild West” in this sector.

The fintech tokenization The regulators’ actions may be particularly relevant in the light of the large corporations’ trend to create their own cryptocurrencies. At the time, Jamie Dimon, who became famous for harsh Bitcoin criticism, and now the company wants to release its stable coin, which is “not a cryptocurrency,” and will be used in the settlements between the largest financial institutions.

It seems that the “tokenization” of settlements between the largest companies is becoming the next phase in the development of digital assets. In addition to speed and convenience, it is likely that this will be the next stage in the shaping of corporations as “states in states” with their tokens, which so far are “not currencies”.

While traditional institutions are trying not to be late in the race of releasing their cryptocurrency, the criticism of XRP is growing. The Finnish crypto exchange, Coinmotion, an hour after XRP listing, stated that this is not a cryptocurrency, but a strictly centralized token. Moreover, such criticism was increasingly heard from various market participants.

Developers becomes more creative The MimbleWimble protocol with new anonymous cryptocurrencies based on it: Grin and Beam is gaining popularity. Technology does not stand still, and this project goal was to reduce the calculations size and preserve anonymity. Transactions in the network are not formed in blocks, wallets exchange funds with each other. It is likely that this is an intermediate stage on the way to a truly successful project. There are hopes that limited resources and a bear market will force developers to take a creative approach, creating truly innovative projects.