8 interesting Cryptocurrency events will come in 2020
The cryptocurrency market has grown and changed dramatically. New initiatives are born, old ideas are overshadowed in just a few months. However, there are events that are still ongoing and have not ended. 2020 is expected to be a turning point, and find an answer to what is unfinished in 2019.
DeFi – decentralized finance is the concept that only digital assets, financial smart contracts, protocols and decentralized applications (DApps) are built on the Ethereum blockchain.
According to the report, the number of decentralized applications and DeFi users is growing strongly. It is helping many Ether holders to earn a decent fortune. Not only that, investing in DeFi projects is also considered a new direction in the world of crypto.
Can DeFi help attract more users of crypto assets in the future? Changes in 2020 will answer this question.
It is expected that in May 2020, the 3rd Bitcoin Halving will take place. At this point, Bitcoin miners’ block rewards will be reduced from 12.5 BTC to 6.25 BTC. History has proven that the Bitcoin price has changed greatly with this important event.
Will Bitcoin Halving 2020 have the same scenario as twice before, or will a new ending be created?
ICO of Telegram
In 2018, the messaging platform Telegram conducted the second largest ICO deal in the market. According to multiple sources, Telegram has sold a total of 2.9 billion Gram tokens at a discounted price to the first 171 buyers worldwide. Of which, more than 1 billion Grams has been sold to US investors. However, many allege that Telegram did not register with the SEC for the process of opening and selling tokens.
In 2019, the SEC sued and blocked the distribution of project tokens. Shortly thereafter, Telegram responded and the incident continued. Even 2020 may not be the end of Telegram’s TON blockchain project.
However, next year will be the time for investors to observe the evolution of blockchain and token projects.
Facebook’s Libra project launches Calibra wallet
Is Facebook’s Libra project still following the plan? Will Calibra storage wallets be launched before June 2020?
If these events take place, the crypto community will pay close attention to the mission that Libra is pursuing. It is to provide financial services to individuals who cannot access banking services.
In addition, the reaction and actions of governments and regulators before the issuance of a separate currency will be expected in the following year.
Non-fungible token (with guarantee)
2019 saw the explosion of the non-Blockchain assets mortgaged by the US dollar and other traditional assets. Typically, stablecoins like Tether (USDT), USDC, etc. This is different from Bitcoin, or other cryptocurrencies when their value comes from right on the blockchain, and other basic principles.
Will this difference become an explode or it is just a small spark? And what will they do for the cryptocurrency market?
Central banks release cryptocurrencies
This year, China became the first country to issue a national cryptocurrency (CBDC) based on the Bitcoin-like transaction authentication model. How will this coin be designed? Is this a change in the balance of power and a threat to the U.S dollar?
How will other countries react? Running against China or observe the development of this country before acting?
Capital from financial institutions
Although there has not been a Bitcoin ETF approved, derivatives such as Bitcoin’s futures contract have been quickly accepted by US officials.
CFTC President Health Tarbert also commented this year that Ethereum’s futures contract will be approved in the near future. At least for now, with a decent volume of transactions from Bitcoin Bakkt futures, we can count on a future that many institutional investors will join.
The release of Ethereum 2.0
Since its inception in 2015, Ethereum has implemented a form of network security similar to Bitcoin. It is both systems that operate under the PoW mechanism. However, in early 2020, Ethereum developers will stop the current model to implement the PoS mechanism. While many other projects have been using the protocol for a long time, once it advances to PoS, Ethereum will be the largest capitalized network operating under this design.