The currency storm is coming! Which chain companies are likely to survive?
On August 13, Ethereum fell 17%, the price once fell to $285.It is understood that the total amount of Ethereum has fallen by about 60%, while Bitcoin has fallen by 54%.
In just one year, the digital money market has entered a bear market, which has caused panic among investors and made them stay on wait-and see attitude. According to industry analysts, the reason for the sharp decline in the digital currency market is probably due to factors such as macro-finance.
Digital currency is facing a huge dilemma
Since late July, the trading volume of Bitcoin (BTC) and other cryptocurrencies has fallen sharply, with a drop of more than 30%. In view of this, industry analysts predict that the price of BTC may fall to around $6,000. In addition, the total market value of the global digital currency market on August 8 was $230.85 billion,and it is the lowest this year; the 24h volume was $15.528 billion, and the low volume of transactions made the digital currency more likely to fall again.
The price of digital currency is easily affected by market factors. The government’s regulatory policy is only part of it. The issue of technical security is also an important reason hindering its development. With the rapid development of digital currency, the original technical defenses are not enough to face the endless security, privacy and regulatory issues. Stolen thefts often occur on digital asset trading platforms. At the beginning of this year, Coincheck, the Tokyo digital currency exchange, suffered the biggest virtual currency theft in the history, loosing a value of about 48 billion yen NEM coins, a contract of 523 million US dollars, and causing concerns about the security of the digital currency market.
In addition, industry mass is one of the reasons for this bear market. According to a report by the Wall Street Journal, during the review of 1,450 cryptocurrencies, 271 of them were found to be problematic. This includes plagiarizing investment documents, promising to guarantee revenue, and executing team missing or forging executive teams, etc. But the digital currency that actually has problems is much larger than this number.
Moreover, for the digital currency trading platform, its development is based on a certain amount of user traffic, and it is necessary to maintain a continuous flow of passengers. This also makes the trading platform pay special attention to media publicity, and even spends a lot of publicity costs to obtain traffic, but the effect is not very good. User loyalty is too low, platform is not sticky enough, many speculators have accounts on multiple platform, it is possible that the platform closes down.
Survive with security technology as the core
At present, governments of all countries are strengthening the control of the cryptocurrency business. According to industry insiders, the bear market in the currency circle is actually promoting the industry to reshuffle, leaving a group of really strong and powerful blockchain enterprises.
Many investors have suffered heavy losses in this currency bear market. However, several blockchain companies have survived with their own advantages and security core technologies, and will flourish in the future.
Wallets, regarded as the entry point for future digital asset transactions, have always been the focus of the industry. Some professionals believe that companies that can occupy this market in the future may become the “Alipay” or even “WeChat” in the future blockchain. And because of its internationalization, the volume will be even larger.
Currently, the leading players in this market are imToken, MyToken, and Kcash. The official number published by imToken is 2 million monthly active users. The figure is said to be more than 50% of the market. It is understood that the current number of digital currency traders is between 3 million and 5 million. The MyToken, which is closely followed, is not to be underestimated. In less than one year of establishment, it has achieved over 1.2 million registered users and more than 200,000 daily active users. In addition, Kcash is the fastest growing.At present, Kcash has more than 1 million users and supports wallet applications with more than 10,000 digital asset tokens.
It should be recognized that, like traditional industries, the development of the digital asset market relies on a sound risk control system to protect the interests of investors.The recent frequent digital currency theft and loss incidents have greatly hindered the development of the industry.At present, the market lacks a safe, credible and open escrow scheme to help the digital asset market gain mainstream market recognition.The hosting platform will build an absolute security defense system for the digital asset market in the future due to its decentralized security technology, core infrastructure construction and other advantages.Today, digital asset trading security is dominated by Themis and Chengdu Lianan Technology.
Compared to other industry competitors, Themis’ core strength is unparalleled security.As the world’s first public-chain platform to provide digital asset escrow services, Themis has created multiple industry records with technological advantages in blockchain, cryptography, distributed technology, and platform security enhancements:the first secure escrow service that does not rely on a single trusted third party,the first group-managed fair trade agreement based on digital assets,the first crowdsourcing arbitration agreement based on anonymous reputation,the first decentralized OTC trading platform……and quickly became a leader in the field.
It is reported that Themis project issued the token GlobalEscrowToken (GET) in the chain, realizing a fair exchange agreement based on group hosting.It ensures that multiple entities that do not trust each other complete asset swaps according to the agreed rules, ensuring the security of users in digital asset transactions.
As a blockchain security company with distributed strategic investment, Chengdu Lianan has developed a highly automated blockchain formal verification platform VaaS (Verification as a Service).It is understood that VaaS has established long-term strategic partnerships with more than 10 well-known blockchain companies at home and abroad such as Huobi, OKEX, LongHash, Cybex and Befund Foundation.
From a market perspective, the riffle of the digital asset industry has begun, and the mixed situation is coming to an end.The blockchain enterprises that can truly survive this bear market have the strength of long-term development.By then, the competition in the digital asset market will be more intense.
