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Cryptocurrency News | A Bleak Future for Blockchain and Cryptocurrency says Kaspersky Lab

Cryptocurrency Predictions

Every new development comes with it’s own set of challenges and threats. The world of cryptocurrency is no different. Bitcoin and altcoins foster anonymity, but sometimes its greatest boon becomes an eye-candy of malicious minds. As per the cryptocurrency predictions  Kaspersky Lab, these threats will bloom in 2019, and it is now the sole responsibility of the currency users to be precautious while dealing in cryptocurrency.

The 2018 Kaspersky Cryptocurrency Predictions Hit Hard

With specific smaller jolts like fake ICOs, currency exchange hacks, and data theft, 2018 also faced some of the worst threats in the form of cryptojacking and currency scams. All of these issues need proper attention. Every countermeasure taken by investors marks the bang of a stronger attack by swindlers. If we go by the reports of Kaspersky Lab, then with the development of the industry there has also been a significant proliferation of unfortunate incidents as well.

However, the primary concern of the organization still resides in the future of ransomware which will, unfortunately, spread its wings even wider in 2019. Kaspersky researchers expect that a substantial threat can surface from the combination of cryptojacking and ransomware, as criminals earn profits owing to the surreptitious mining.

Apart from the ransomware threat, the report also notifies about web mining efforts. Malicious mining scripts on certain websites were a strategy of initial cryptojacking threats. Although this outdated method is less in use nowadays, it can make an ugly homecoming soon. At this point, it is challenging to predict if this condition will face a clash with a BTC roll. At such low prices of bitcoin, criminals might explore other bankable options available in the market.

The Crucial Variation of Blockchain Industry

Kaspersky report has imposed a question mark on the feasibility of blockchain technology in other spheres and industries. The firm feels that the technology is incompetent to fulfill the expectations which surround it. They have noted that use of this technology apart from crypto world fails to leave an impactful impression. The report emphasizes that the blockchain bubble will burst soon and that 2019 will be a good time to stop surfing through this technology.

The report also depicts an unpleasant future of cryptocurrencies and shows that only a few companies are willing to explore the digital currency arena. With 2018 being the year of some crucial events including the rapid downfall of tokens and coins, settlement of cryptocurrency as a strong asset is still a hypothetical scenario.

The beauty of the future is that it is always unpredictable, and so, it is good if you take the facts of the report with a sense of skepticism.

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