Since its inception, Blockchain technology has shown tremendous potential for future implementations.
In the past 2–3 years, Blockchain has witnessed several innovative enhancements as industries started realizing its potential in fields apart from cryptocurrency.
As a tribute to the ingenious blockchain technology, we’ve compiled a list of key blockchain trends that hold a high chance to gain momentum in the next 12–18 months.
Following are a few key things that could be a focus within the blockchain world in the next 12–18 months
1. Hybrid Blockchains
Blockchain Technology is principally divided into 2 classes — Private Blockchain and Public Blockchain.
Private Blockchain is outlined as a configuration where a number of permissioned users leverage a platform for a specific use case/ use cases.
A Public Blockchain on the other hand, is a configuration where general public can view and leverage data without any permissioning.
The hybrid blockchain can be a new trend within this space, that can combine aspects of both the aforementioned chains.
2. Blockchain As a Service (BaaS)
Creating a blockchain system is relatively easier than maintaining it, especially when it scales. However, given the numerous benefits that it offers, the struggle does appear worthwhile.
Noticing the improving quality for blockchain use cases and implementations, a number of major players already provide Blockchain as a Service (BaaS). Blockchain as a Service permits users to seamlessly produce blockchain networks for applications, good contracts, and for alternative storage functions.
3. Interoperability For Blockchain
Interoperability within Blockchain networks can make various P2P networks more usable and flexible. Implementation of the concept of interoperability can bring seamless interaction between isolated networks.
4. Federate Blockchain
A Federate Blockchain is strikingly the same as the non-public blockchain configuration.
The sole distinction between the two is that within the federate Blockchain configuration, rather than appointing one authority that’s licensed to distribute writing or viewing permission, multiple organizations are electoral and allowed to grant writing or viewing permissions for a restricted network of entities.
5. Security Token/ Coin Offerings /Stable Coins
It is possible to see an increase and take-off of ICOs to finance new projects.
With an increase in jurisdictions around the world, ICOs can become more regulated and streamlined, thereby boosting confidence among investors.