Three Cryptocurrency trends to explode in 2021!

2020 was a strange year would be an understatement. The year was unexpected in many ways- mainly due to the COVID-19 pandemic, which intensified blockchain trends that were already underway. But, as we bid our farewell to 2020 and steps into 2021. Let’s have a look at trends that we should likely expect to explode in 2021!

Private(Permissioned) blockchain will dominate the market

Compliance and risk-averse business leader are becoming exceeding open to exploring the role of public blockchain in an enterprise context with Permissioned Blockchain.COVID-19 pandemic pushed businesses to adopt digitalization, there was no other alternative for businesses than to embrace digitalization for day to day operations. There is now an added stress for businesses to accelerate their digital transformation process. Businesses are therefore increasingly opting for Permissioned blockchain networks. In 2021, Permissioned blockchain networks allow businesses to configure networks while implementing necessary restrictions and control activities performed by different parties in their set roles.

The arrival of Zero-Knowledge Proof (ZKP)…

In 2021 we are likely to see the arrival of zero-knowledge proof. ZKP proof allows entities to reveal something is true without disclosing data that proves it. As crazy as it sounds, ZKP allows in maintaining privacy in a data-driven world. ZKPs are cryptographic algorithms that allow individuals and third parties to take advantage of the data-driven world without exposing private information. For instance, ZKPs allow banks to accept or reject mortgage claims without disclosing, but verifying individual information. For reasons such as the fundamental rights of people to their privacy as well as security, businesses are likely to shift to Zapps in 2021.

China — a key player..

China will take bold steps in its mission to advance the Blockchain Service Network. China’s “new infrastructure” national initiative will make Blockchain an integral part of the country’s Blockchain transformation. Nonetheless, China’s digital Yuan will also be contending European nations that are also setting to launch their digital currency.

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