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What 2022 Has in it for Blockchain and Should Investors Be Enthralled?

WikiBit 2022-08-14 18:05

Abstract:When Satoshi Nakamoto released Bitcoin's white paper, no one expected that the concept of paperless money would become a reality by 2021. Blockchain technology has sparked a new wave of growth and creativity. This concept was motivated by complete data security, decentralization, and online freedom.

  When Satoshi Nakamoto released Bitcoin's white paper, no one expected that the concept of paperless money would become a reality by 2021.

  Blockchain technology has sparked a new wave of growth and creativity. This concept was motivated by complete data security, decentralization, and online freedom.

  We're seeing NFTs achieve new heights, Metaverse and Web3 luring large corporations, Defi attaining market maturity, and top-tier cryptocurrencies reaching all-time highs — is it just us, or can you see the future?

  All of this soaring and maturing resulted from the extraordinarily active participation of investors globally. So, without further ado, let's look at what 2022 has in store for blockchain and whether investors should be excited.

  Top Blockchain Trends Pushing its Way into the System

  In 2009, experts considered cryptocurrency had a limited area of operation and hence faced some opposition. Nonetheless, as specialists began researching into the concept, they discovered that blockchain had an immensely terrifying potential — an unprecedented potential that is going to transform the entire ecosystem in which we live and work today!

  Let's cut the nonsense and go right to the top three blockchain trends for 2022:

  The Rise of Non-Fungible Tokens

  Non-Fungible Tokens, or NFTs, have unquestionably been the most significant investment trend of 2021 – and they don't appear to be slowing down. Let us describe the power that NFTs handed to laypeople, and then tell us if you think it will go away anytime soon.

  NFTs have always acted like a magic wand that grants you many desires rather than three! It accomplishes this by granting asset holders ownership rights using Blockchain technology, which confirms the user's rights to that specific physical/virtual property. As a result, you can get a piece of exclusive real-world assets by employing digital collectibles that reflect real-world goods. Isn't it intriguing?

  While you cannot exchange NFTs like bitcoin, they are likely to diversify and expand as they may be anything you can dream of! NFTs are expected to be increasingly used in product advertising, audience engagement, and e-gaming.

  Expansion of Blockchain as a Service

  Experts have long predicted that blockchain will expand as a service – and it has already begun! Many businesses and platforms began selling BaaS services by the first quarter of 2022. It is undeniably inspired by Software as a Service (SaaS); nonetheless, it provides exceptional benefits such as, but not limited to:

  1. Reduced cost of investment

  2. Enhanced security and transparency standards

  3. Fewer complexities compared to SaaS

  4. No requirement to code your network elements

  5. Ensures complete decentralization of power

  Today, top-tier tech behemoths such as Amazon and IBM provide BaaS services based on Corda, Ethereum, and Hyperledger. Nonetheless, the reach of blockchain as a Service extends beyond large-scale technologies. Soon, SMEs will join the race, bringing blockchain into the mainstream of business and diversifying its use cases.

  Blockchain and the Go-Green Notion

  While the earth is collapsing around us, blockchain technology is the only choice available to support the go-green concept – not because anyone wants it, but because it must. Although Elon Musk discontinued the usage of Bitcoin for Tesla vehicle purchases due to excessive energy release and electricity consumption, the focus has turned to carbon footprint reduction.

  Elon Musk explicitly addressed mining's negative impact, prompting specialists to explore for solutions to assure energy-efficient mining machines. Furthermore, carbon offsets, the transition from proof-of-work to proof-of-stake, and many other ideas contribute to blockchain sustainability.

As a reminder, WikiBit is ready to help you search the qualifications and reputation of projects in a bid to protect you from hidden dangers in this risky industry!

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