Notable trends in blockchain
Blockchain Technology is the most recent addition to the advancing technological solution. The technology is said to resolve several issues that have been bugging experts since the introduction of Bitcoins, ethereum and other crypto based currency. To understand blockchain one must first know why blockchain is necessary and on what fundamental basics it works upon.
Blockchain provides a highly encrypted and secure passage for digital assets to be transferred over cloud or other internet means. It nullifies the possibility of data mining and guarantees authenticity when the technology is used efficiently. Now you understand the importance of that particular technology in today’s digitally powered world.
As soon as digital assets came into existence experts had been trying to construct a distributed ledger connected with each and every dedicated device. Cloud based services gave a tremendous boost to blockchain as it helps them to spread the blockchain network quickly without any restrictions applied.
Well to be specific let’s look at some crisp stats that will surely backup all the praises I am doing so far.
- Findstack says, The global market for Blockchain would be worth $1,431.54 billion by 2030 with a CAGR of 85% in between those years.
- Properly implementing it can eliminate the infrastructure cost of the bank up to 30% mentions Techjury.net.
- Statista forecasted that investors have been showing interest in blockchain technology with spending reaching up to to 19 billion US dollars.
- Experts have noted that the technology can also be utilized for negating the chances of identity theft by 54%.
- The technology is said to increase transparency, traceability and security by 90% in various IT as well as non-IT sectors.
So to understand the technology better and catch up with the latest trends, we made a list of 5 Blockchain technology trends that would amplify the use of blockchain.
These trends will help you precisely narrow down the advantages and benefits of it, if you are an investor and if you’re not why not just enhance your knowledge on the upcoming latest trends. So without further ado let’s jump back to our list.
Original Source : Blockchain Technology Trends