You might’ve come across various buzz words like Augmented Reality, Virtual Reality, Artificial Intelligence and Machine Learning. Similarly, Blockchain is a buzzword that is increasingly gaining prominence in the business and technology market.
In fact, all the aforementioned technologies including Blockchain are being rigorously applied in various business processes and industries to optimize processes, eliminate bottlenecks, improve data security and accelerate growth.
Coming back to Blockchain, what are some emerging blockchain trends that you will see in 2021? Read on to find out!
3 Top Blockchain Development Trends in 2021
- Popularization of Smart Contracts
Just like a paper-based contract is signed between two parties agreeing to carry out certain tasks or fulfil certain expectations, a digital contract based on Blockchain will be increasingly used in the days to come.
This contract has the ability to automatically execute transactions, tasks or follow-up protocols according to certain requirements that are fulfilled. Smart contracts can be a boon for full-cycle product development as it eliminates the need for middlemen, facilitates reliable backup on the blockchain, leverages encryption to safeguard data from infiltration and automated verification process.
- Blockchain as a Service – BaaS
Although Blockchain has a wide range of benefits, it is still not a commonly acknowledged technology. But here is an interesting fact - many organizations understand the value of Blockchain solutions for their business but don’t have the expertise to leverage Blockchain technology solutions.
This is where Blockchain as a Service offered by Blockchain Development Company in USA and other parts of the world can help companies to seamlessly adopt Blockchain and its components such as the platform, integrations, smart contracts, tools and other features.
- Using Blockchain Technology in Cloud Computing Services
While cloud adoption is in full swing owing to the pandemic, one of the main concerns for almost every enterprise was data security. But what if third-party providers or a blockchain development services company integrated blockchain into the cloud. This way, all the data on the cloud can be easily secured without having to spend huge resources to deploy data security technologies or protocols.
These are three emerging and exciting blockchain development trends that will take enterprises by storm in 2021 and beyond!