Eminent Blockchain Technology Trends

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July 10, 2019

Last updated: March 30, 2022

Table of Contents

Blockchain Trends in 2019

The Blockchain technology otherwise Distributed Ledger Technology (DLT), ensures a secure transaction over a distributed network. Since all parties share the ledger over the distributed system, third-party verification can be eliminated by the use of Blockchain Technology. In 2019 the future was evident when 75% of companies confirmed their business operation with Blockchain technology and 35% of them already started deploying its development. In the upcoming year’s enhancement of blockchain technology will be resulting in new trends.

Many multinational companies have blockchain-related administrations. The blockchain technology is exercised at all organizational level by building up the primary use cases and proof of idea for the technology.

“The biggest opportunity set we can think of over the next decade.”- Bob Grifeld, CEO NASDAQ

Federated Blockchain Technology

Federated Blockchain the other form of an advanced basic blockchain model is ideal for many specific use-cases.

The prime point of getting private blockchain development with a more customizable outlook elevates the usage of federated blockchain that in turn results in growth. Federated blockchain stands unique in the following aspects.

– Federated blockchain has multiple authorities to control the pre-selected nodes of the blockchain.

The transaction gets processed only after validating the selected group of nodes.

Add ons of Federated Blockchain

-Supply Chain Management

-Insurance Claims

-Organization Records Security

-Financial Services

-Multiparty Aggression

Blockchain As A Service (BaaS)

Both startups and enterprises have started integrating Blockchain As A Service (BaaS) for their business. It is a cloud-based service that facilitates to develop digital products by working on it. These digital products thus built have the advantage of working without any setup of the complete blockchain-based infrastructure.

Add ons Blockchain As A Service (BaaS)

-Performance Contracts

-Resource Sharing

-Single Window

-Contract Execution

-Document origin Tracking

Hybrid Blockchain

Hybrid blockchain is the blockchain that endeavors to use the most adequate part of the public and the private blockchain solutions. For example, the government neither use private blockchain in some of their services as they need to interact with the people nor be decentralized by using a public blockchain. In such cases, the Hybrid blockchain provides an ideal solution by providing a customizable solution. Hybrid Blockchain offers such as integrity, transparency, and security.

Add on Hybrid Blockchain

Banking

Supply chain enterprise services

Hybrid IoT

Final Thoughts

It is evident that the future of blockchain is very promising. The technique of blockchain technology is likely to have a huge impact over industries of all verticals. The one who uses blockchain driven software to extend business is in the right direction. For prominence, Blockchain Development reaches us Calibraint Technologies.