Blockchain Development Trends Part 1
Blockchain development has gone past cryptocurrency. Big companies are now developing their own blockchain and expanding on the possibilities of its use.
The following are the latest blockchain development trends.
Cybersecurity has had no shortage of issues in the Internet world. We’ve seen many big companies fall victim to cyber-attacks throughout the years and now blockchain is providing a solution.
Since blockchain is decentralized that means no information will ever be stored on a single server. Instead, bits and pieces will be stored on several servers. This will make it almost impossible for hackers to get to important information.
Blockchain technology only allows the actual owner to retrieve the information.
Blockchain technology makes it simple for streaming platforms to store and share information securely. It allows customizable APIs to be deployed to enable third-party involvement.
This allows those third parties to read and write data through the blockchain in a simple and secure manner.
Another great aspect of blockchain for streaming platforms is that it can reduce the huge costs of computing power it takes to get services to the public. With blockchain, streaming platforms can use the power of decentralized computers on the blockchain.
EOS is a cryptocurrency platform powered by blockchain. The platform allows users to handle a huge amount of transaction per unit of time.
With a proof of stake consensus algorithm, EOC has significant potential to improve transaction scalability for commercial usage.
In simpler terms, this platform is designed around an event that responds to actions. This makes it an ideal model to fit the workflow of many companies.
Microsoft Cryptlets and NEM
These developments hope to securely remove data loads within the blockchain. This will not only improve the efficiency of blockchain, but also make room for larger amounts of data to enter it.
Internet of Things
Internet of things devices are anything from your smartwatch to your smart fridge. All these devices are connected to the Internet and make creating and storing data simple.
Blockchain development’s role in Internet of Things is about providing a universal system that ties every IoT device together. It would allow data interoperability of the network.
Since Internet of Things devices are coming from different manufacturers, it is important that a consensus is set on the blockchain that will be required.