British analysts have published a report on cryptocurrency covering such aspects as market growth rate, expected market volume in 2020, its key players, main trends, advantages and obstacles in the near future.

The report “Global Crypto Currency Market 2016-2020” was prepared by the British research company Technavio. The study predicts the growth of rivalry between cryptocurrency and banks, which will try to obstruct the trade between cryptocurrency and national currencies. But banks “cannot completely inhibit growth” of the virtual currency market during the forecast period, as stated in the report.

Six coins are recognised as key cryptocurrency vendors, according to the research: bitcoin, litecoin, namecoin, novacoin, peercoin, ripple. Other prominent vendors are bitshares, bytecoin, dogecoin, feathercoin, primecoin, megacoin, nxt, steller.

According to the report, the main advantages of cryptocurrency are high speed and more secure transaction process. The main challenge is that cryptocurrency is prone to be used in illegal activities and terrorist financing.

Elena Platonova