July 22, 2024

In 2020, the crypto industry will enter a new phase of development

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According to Blockchain Capital partner SpencerBogart, in 2020 the cryptocurrency industry will enter a new phase of development. A breakthrough will be made in building the infrastructure necessary for the development of blockchain technologies.

A large number of transaction processing platforms will appear on the market, and existing blockchain networks will be upgraded to versions 3.0 and 4.0.

Bitcoin next year will not only savedominant position in the market, but will also move along an upward trajectory. However, Bogart did not indicate the maximum limits of BTC’s breakthrough, limiting himself to a statement about maintaining positive dynamics, Bloomberg notes.

Ethereum Network (ETH) will retain status next yearthe most popular platform among developers of decentralized applications (DApps). The analyst drew attention to the fact that this year Tron and EOS tried to compete with Ethereum, but nothing came of these projects. Until now, the Ethereum network is leading in the number of deployed DApps.

Bitcoin may have a serious competitor inface of the Libra cryptocurrency project. If the American authorities legalize the Facebook token, then Libra will be able to displace even the digital version of the Chinese yuan, Bogart believes.