Decentralized Finance: What You Need To Know?

Even if you have rudimentary knowledge about Blockchain, you would know that this is one of the most popular technologies paving the way for a lot of development and changes. As per Gartner, Blockchain is one of the hottest selling technologies and the most promising one too. In fact, as per Tech Crunch, it is the second-fastest-growing labor market that is extensively looking for skilled Blockchain professionals. However, interoperability and scalability are the challenges which the public Blockchain faces, despite these hurdles, Blockchain technology is slowly progressing and making its way as a leading technology.

Here some of the Top Most trend of Blockchain:

1. Its Adoption Is Going To Grow- In the times to come the adoption of Blockchain technology is going to grow. You are going to witness its impact across the different business segments. We already have companies like Amazon, IBM, Apple, and Facebook aggressively working towards the adoption of this technology.

2. Stablecoins- We already know that cryptocurrencies have created a digital financial revolution. But, these have been highly fluctuating. Hence we now have the surge of stablecoins. As evident from the name, they are more stable, and its pricing is not that fluctuating. It is expected that we will witness the proliferation of stablecoins in the near future.

3. Blockchain network and interoperability- We have already mentioned about the challenges of the current Blockchain system. In the times to come, we will see a growth in the functionalities of Blockchain. It would now be easier to send Ether Block to another Blockchain network, which currently is not possible.

4. Finance and economies will adopt Blockchain– Yes, as per the report of PwC, around 77% of financial institutions are going to adopt Blockchain technology by the end of 2020. With the help of Blockchain technology, we can expect the conventional financial system to get rid of redundancy red-tapism, validation, and verification process, which consumes more time. With the help of Blockchain, we can expect faster results and better transaction rates.

5. Blockchain and IoT- Another area that needs a mention here is how Blockchain is going to blend with another technology, i.e., IoT. We are living in an era where connected devices have become very common. It brings a lot of information in the virtual work. With Blockchain’s help, we can expect the system to be safer and free from any risk of losing data. As per the International Data Corporation (IDC), around 20% of IoT deployments will enable Blockchain services by the end of 2020

With all these sets of developments, Blockchain has become a popular technology that can aid other services to become better. The conventional technological platforms that we use are prone to attacks and other vulnerabilities. With Blockchain’s help, we can surely expect things to become more in control of the user and offer a safe and secure platform.

What’s next?

It is going to be one of the leading technologies and is a great career option.

Join Geezgo for free. Use Geezgo\’s end-to-end encrypted Chat with your Closenets (friends, relatives, colleague etc) in personalized ways.>>

Leave a Reply

Your email address will not be published. Required fields are marked *