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Cryptocurrency Market Share, Size,Growth, Key Players, Outlook
and Forecasts to 2025 | Hexa Research
“ The global cryptocurrency market is estimated to grow over the forecast
period..”
31 December 2018
The global cryptocurrency market is estimated to grow over the forecast period. Cryptocurrency or digital
currency is a decentralized system operating on the blockchain technology. Blockchain is a database or
distributed ledger shared across public or private computer network. Information stored in the ledger is
encrypted and added as fresh block to the chain of historical records. Ease of transferring funds among two
parties without any regulatory authorities like bank or financial service company is likely to fuel the demand
for cryptocurrency in the coming years. Rising need for secure payment methods due to increasing cases of
security breaches and fraudulent transactions is also anticipated to boost the usage of cryptocurrencies as
new payment mode, thereby propelling the market growth. In cryptocurrency systems, a transaction is
considered valid and complete only when the user verifies it using a private key available with them. This
ensures that there are no duplicate transactions while using cryptocurrencies.
This factor is projected to stimulate the market expansion in the next few years. On the other hand, technical
limitations and lack of awareness may have a negative impact on the market development. In addition,
fluctuations in prices can also hamper market growth. Bitcoin, Peercoin, Litecoin, Ethereum, Namecoin, EOS,
and Cardano are some of the popular cryptocurrencies. Bitcoin was introduced by an individual or a group of
individuals under pseudonym, Santoshi Nakamoto in 2009 and was announced as new electronic cash system
based on peer-to-peer network.
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