The cryptocurrency market is on fire at the moment. There are too many promising ICOs anticipated during the first half of 2018 to keep up with. Massive amounts of institutional investment money is expected to flow into the cryptocurrency space this year. The overall crypto market cap is around USD $800 billion today. Breaking the $1 trillion threshold is just around the corner.
But what exactly is this crypto craze all about. At the end of the day, the underlying technology is the blockchain. In a simplified form, blockchain technology is merely a decentralized ledger or database.
With so many blockchain startup companies emerging every week, it becomes confusing and difficult to differentiate what each company does and how they add unique value to the overall ecosystem. Bluzelle describes itself as a decentralized database service for the world’s dApps and they have previously published a very helpful breakdown of the decentralized Internet.
Here’s a diagram from their blog post:
In 2018 we’ll see more companies emerge that begin to encroach upon the current dominance of Bitcoin and Ethereum within the cryptocurrency space. Many of these emerging companies will bring new solutions for both decentralized operating systems and data storage/management.
We’re only eight days into the year 2018 and the crypto space has already shown signs that 2018 will be even more dynamic, explosive, volatile, and exciting than last year was for crypto enthusiasts and investors. Hold on for the ride!