As 2024 draws to a close, we can look back on what has happened in the world of cryptocurrencies. This year has been full of innovations, but it has not been without its setbacks that have impacted the industry in various ways.
Top Achievements in 2024
1. The rise of central bank digital currencies (CBDCs):
Many major countries, such as the European Union and China, have continued to promote their state-owned digital currencies. We have seen the launch of new initiatives aimed at improving financial inclusion and facilitating international trade.
2. Growth of Layer 2 technologies:
Thanks to technologies like Optimistic Rollups and ZK-Rollups, blockchain has become more efficient at handling a large number of transactions at lower costs, which has contributed to its expanding use.
3. Development of digital market regulation:
Despite the challenges, many governments have passed clearer regulatory and tax laws for cryptocurrencies, encouraging traditional financial institutions to enter the market.
4. Increasing reliance on renewable energy in mining:
Many mining farms have proven that they can reduce their carbon footprint by using solar and wind power, improving the industry's reputation globally.
Outstanding Challenges in 2024
1. Market volatility:
Despite the progress, digital markets have continued to experience extreme volatility, posing a challenge for new investors.
2. Security breaches:
The year saw an increase in attacks on digital wallets and decentralized finance (DeFi) protocols, highlighting the importance of strengthening cybersecurity.
3. Regulatory pressure:
Some countries have imposed strict restrictions on cryptocurrency trading, limiting access to them for some investors.
2024 represents a transitional phase in the world of cryptocurrencies. Despite the challenges, technological and regulatory developments reflect the international community’s desire to integrate cryptocurrencies into the global economy. As 2025 begins, there will be an opportunity to reevaluate strategies and build a more stable future.
