Cryptocurrency Trends to watch out for in 2020

Decentralized finance, known as DeFi, is the way to drive success, given its wide-ranging advantages. Also, it can fuel innovation.

Fremont, CA: Last year turned out to be an exceptional one for the global crypto market. Despite a secular bear market, it included novel trading solutions, new groupings, and a number of blockchain protocols emerging and maturing. Also, China has entered the global competition and is driving innovation. To sum it up, the blockchain and crypto market is not slowing down anytime soon as the momentum is gradually picking up.

Let us have a look at the cryptocurrency trends to watch out for in 2020:

Decentralized Finance

Decentralized finance, known as DeFi, is the way to drive success, given its wide-ranging advantages. Also, it can fuel innovation. Currently, DeFi projects have now crossed the value of $650 million. Though it was unbelievable a few years ago, secure and trust-less provisions of financial services have now introduced fresh lending as well as margin trading facilities. It has empowered traders to switch between different debt positions easily.

Privacy in Transactions

The concern regarding the privacy of transactions within the market has been increasing lately. Several privacy tools have been developed to serve the purpose. For example, Ernst & Young have developed Nightfall for private transactions over the Ethereum ecosystem. It is one of the best examples of how various companies would be driving their transactions through public main-net with zero-knowledge privacy protocols in place.

Lightning Network

Lightning network has proved to be a blessing for crypto traders. It is a layer-2 payment protocol that is applied to any blockchain-based cryptocurrency. It sets the stage for instant bitcoin transaction settlements. The protocol utilizes off-chain data to catalyze the transaction speed as well as reduces the associated charges.

See also: Top Blockchain Technology Solution Companies