Steem dApp development

7 Blockchain Trends That Will Dominate the Year 2020

This article intends to shed light on the trends in the blockchain market that are all geared up to dominate 2020. Whether you are aiming for dApp development, Steem Bot development or any other service, you should not miss reading this article.

Let’s begin to learn the trends that we are talking about!

  1. Blockchain as a Service

Till date, we all knew an infrastructure, software or a platform as a service. But, we never knew that blockchain could come up as a service. Blockchain as a service is a cloud service that provides businesses with all the tools that businesses require to build decentralized apps. The developers can create smart contracts and make sure that the users pay the price to use their dApps.

  1. Federated Blockchain for Decentralization

In a Federated blockchain, a group of organizations control the nodes. These organizations jointly take the decisions with regards to changes that are to be made in blockchain. With no single ownership, a federated blockchain will be decentralized in true sense.

  1. Merging of IoT and Blockchain

Many companies are using blockchain technology to perform functions to solve the problem of high computing power. Blockchain eliminates the Single Point of Failure (SPOT) due to its decentralized nature and is highly useful in this case since IoT devices are susceptible to hacking.

  1. AI Integration

Blockchain technology is supposedly open to integration with AI to record data and variables that are considered while deciding under machine learning. We might see businesses shift towards artificial intelligence by getting integrated with blockchain.

  1. Use by Government

Government agencies will use blockchain for storing individual records and with this integration, the risk of duplication, fraud or misrepresentation of data will be eliminated. This will increase the productivity and efficiency of government agencies.

  1. Integration with Social Media

Various social media networks can leverage the power of blockchain as it can maintain records of users’ preferences, friend lists, etc. Apart from this, the content creators can publish their content on social media and customize their content as per the audience. This integration will make way for something big and grand.

  1. Adoption by Financial Institutions

Blockchain has also attracted the attention of financial institutions like banks. High speed and low cost of transactions in cryptocurrency on a blockchain are making these institutions think of integrating it with their functions. 2020 is a year that will decide how banks and other financial institutions will adopt this trending technology and use it for delivering even better services.

Final Word:

The world is embracing blockchain. Are you ready? Whether you are an individual or an organization, you can extract the best out of blockchain. Go for Steem dApp development, Steem Witness/ Seed Node Setup or Steem Bot development and see what it can bring for you.

Contact our team of experts now!

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