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Global Cryptocurrency Market Report 2021-2026: Peer-To Peer Payment to Dominate the Market
May 06, 2021 05:23 ET | Source: Research and Markets Research and Markets Dublin, IRELAND
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The global cryptocurrency market is expected to grow from USD 1.6 billion in 2021 to USD 2.2 billion by 2026, at a CAGR of 7.1%
Transparency or distributed ledger technology and growth in venture capital investments are the key factors driving the growth of the cryptocurrency market.
Hardware to hold largest size of Cryptocurrency market in 2021
The concept of cryptocurrency is based on decentralizing the monitoring of transactions. In the transaction monitoring process, miners (generally the users) validate the transactions made by other users. In this process, the system needs high computing power to validate the transactions. The validation process involves the creation of hash codes to encrypt the transaction