Blockchain is getting more advanced day by day with the emergence of new technologies. As businesses across all industries are using blockchain with other technologies, new blockchain trends are coming into the market. And today, I will share the top 6 biggest blockchain trends in 2022 that could revolutionize future industries.
1. Cryptocurrency Mining
Cryptocurrency is nothing new. It has been running in the market for a very long time. People are now exchanging different cryptocurrencies. But, since cryptocurrency requires mining for complete use. Therefore, the need for software solutions for cryptocurrency mining is on the rise.
As per the CNBC report, it is expected that more than 36 million tons of greenhouse gasses are emitted due to Bitcoin mining. This not only increases the mining cost but also impacts the environment. Hence, the blockchain development company is now focusing on developing suitable and proof-of-stake blockchain solutions. It involves EOS and Cardano.
So what is special about these blockchain trends? EOS and Cardano don’t need cryptocurrency mining. They perform cryptocurrency transactions without impacting the environment. Industry experts believe that EOS and Cardano will set out to be the biggest blockchain trends in the future. And the reason is their sustainable and environment-friendly features.
2. BaaS (Blockchain-as-a-Service)
At present, companies look for quality blockchain development services for all types of industry use cases. They need an accessible and reliable cloud-based platform that works like SaaS (Software-as-a-Service). This requirement has given birth to BaaS (Blockchain-as-a-Service).
And the interesting thing is that the world’s tech giant companies have already started this. Amazon, IBM, and Microsoft are providing blockchain-as-service to global companies.
By using BaaS, companies now build their custom blockchain-based solutions. For examples cryptocurrency exchange, blockchain-based mobile apps, etc. Since SaaS has been very successful, it is expected that BaaS will be one of the top blockchain trends. And it will transform the future IT ecosystem.
3. The Evolution of Stablecoins
Have you invested in any cryptocurrency? Then you know how unstable it is. Its value keeps fluctuating. You can’t be assured of its price. Therefore, many governments still have not legalized cryptocurrency as their legal tender. But with the emergence of these Stablecoins, it seems possible.
Stablecoins are among the biggest blockchain trends in 2022. They provide more stable value than cryptocurrencies. USDCoins and Tether are the newest Stablecoins which fix their values like real-world paper currency. They are highly stable as compared to cryptocurrencies. Hence. This trend is surely good news for governments and investors who are looking for reliable and stable blockchain currency.
4. Blockchain-Based Vaccine Distribution Management
When it comes to tracking or controlling the supply chain or logistics blockchain technology stands out as the perfect solution. This ability of blockchain was found to be highly effective in tracking and managing vaccine distribution.
Many medical agencies and clinics collaborated with the blockchain development company to build an application for tracking and managing Covid vaccine distribution. And since the impact of Covid-19 is still present, the use of blockchain-based vaccine distribution management applications will grow in the upcoming time.
Have you heard of the news of an auction where an NFT sold out for $69.9 Million? This NFT was every day: The First 5000 Days. Not only this, many NFTs have been sold out for millions of dollars. NFT or Non-Fungible tokens are among the most popular blockchain trends in the current market. Businesses are heavily investing in NFT and earning great profits.
Today, businesses are looking to hire blockchain developers to build NFTs and NFT marketplace like OpenSea, and Axie Infinity which allows people to trade NFTs online. And to develop NFTs and NFT marketplace, blockchain technology is required. So, as growth in the popularity of NFTs is skyrocketing, the use of blockchain in NFTs is also increasing. As a result, NFTs are taking a big place in the blockchain trends.
Metaverse is probably the most sensational and buzzing blockchain-based technology. It is a virtual world that allows users to do real-world things such as playing, buying, selling, and exchanging.
Metaverse is built with different technologies like blockchain, artificial intelligence, machine learning, virtual reality, and augmented reality. Businesses and entrepreneurs are tremendously investing in developing different metaverses.
For Examples, real estate metaverse, NFT marketplace, play-to-earn metaverse, and more. And since metaverse uses blockchain technology to allow users to trade NFTs and cryptocurrency, the use of blockchain is set to increase. Especially the trend of the play-to-earn model in blockchain-based gaming platforms.
There is a huge demand for play-to-earn blockchain-based gaming platforms for web and mobile users. Investors are working with the mobile app development company to develop blockchain gaming mobile apps for users.
Companies are also focusing on developing metaverse gaming platforms for mobile users. Hence, considering this advancement, the metaverse is proving to be among the biggest blockchain trends.
Blockchain is a high-level technology. It is disrupting industries by empowering them with secure, powerful, and robust solutions. Companies are using blockchain with other technologies to build innovative and custom business solutions.
And this extensive and innovative use is contributing to the evolution of new blockchain technology trends. As a business founder, you can take a competitive advantage by utilizing these blockchain trends.
About the Author
Josephine Baker is a Blockchain Developer at MobileCoderz- an established and widely reputed blockchain development company that provides business-oriented blockchain solutions. She has immense experience in Ethereum and Hyper ledger technology. She has worked with many international clients to use blockchain technology. Alongside her tech life, She creates podcasts and researches the latest innovations.