LISTEN TO ARTICLE
Since the beginning of 2018, at a time when a prolonged correction took place on the cryptocurrency market, and the entire market capitalization fell from $ 800 to $ 210 billion. The US cryptocurrency market and its underlying technology have shown significant progress in terms of institutionalizing the class of new assets, improving market structure and strengthening digital currency technologies.
In order to better understand the need, structure and decentralized nature, an increasing number of institutions, technological conglomerates and enthusiasts began to mine cryptocurrency, or take part in the development of new technologies. Fidelity Investments, the fourth largest investment fund in the world, with assets of more than 7 trillion dollars, also took part in the mining of Bitcoin and Ethereum, in order to understand the concept of mining.
At the same time, Square, a large payment system worth about $ 30 billion, being led by Twitter CEO Jack Dorsey, recently announced the launch of its own development blockchain for the administration of the repository.
According to experts, the recognition of cryptocurrency as a new class of assets, and the blockchain technology as one of the main pillars of the fourth industrial revolution led institutions and individuals to rethink the work of the global monetary system and try to make their own adjustments to its development.