Blockchain technology has a lot of potential and everybody knows it, but the way cryptocurrencies fluctuated in the year gone by, has made people think whether the technology is really worth it. The technology is not the problem, rather the implementation of it to make fast bucks is the real problem. 

Blockchain technology is being embraced by many big companies such as Facebook, IBM, Walmart and many,many more. With so many companies trusting the technology the future looksvery bright. Are you updated about thelatest trends?

Maturing of the blockchain technology:

The latest indicators are that with more regulators you will not find quick money-makingschemes that are meant to scam any more. The maturing of the technology has made companies like Walmart invest in it. 

Amazon has also announced a few blockchain projects. Facebook is coming up with its own crypto currency named Libravery soon. With so many companies jumping into the blockchain bandwagon, you are going to see a technology that provides a lot of value to everyone.

DAppsare the way forward:

With blockchain technology, you will have decentralized apps or DApps they are commonly known as going forward. The benefits of DApps are many, for both the user as well as the maker. Since it is open source the DAppscan be made better by anyone. 

Everything is stored cryptographically, so sensitive information cannot be accessed by anyone and encryption makes it hack proof literally. DApps also allows miners to mine for tokens and this keeps the technology running. 

Internet of Things and blockchain:

The latest trend is blockchain which isbeing used a lot is IoT. The advantagesof blockchain arebeing used by the developers now as they know that hackers cannot easily hack the encrypted ledger technology. Denial of service attacks will be passé because hacking just one node needs a lot of computing power. 

Since machine to machine communication is going to be huge soon,it is believed that blockchain will the technology that will used to manage it. It is expected that the amalgamation of Internet of Things and Blockchain to be very huge in the coming years.

Growth of crypto currencies:

Crypto currencies have been the main driver of blockchain technology. The success of Bitcoin and various other crypto currencies have made heads turn in the financial sector. Facebook is coming up with Libra its own crypto currency, while other crypto currencies are in the works. 

Many governments which have banned crypto currenciesin the pastare having a rethinkand Facebook entering the market gives credibility to a system that some people seemed skeptical to accept.The whole world will benefit,and it can be a real game changer if crypto currencies are accepted throughout the world.

Horse racing and the betting industry:

As you might have read through Bitcoin News, the betting industry has already started accepting crypto currencies. It is expected to be the major driver of the online gambling industry. Online gambling is growing in leaps and bounds,and more and more people are joining every day. 

People like to gamble from the comfort of their homes, they like the anonymity it provides and they also like the fact that their winning finds the way to the bank directly. But with safety and security concerns and the constant fear of phishing and hacking also makes people think twice before betting. However, with cryptocurrencies, they know that it is very safe, and they need not worry at all about security as it is not easy to hack the encrypted ledger technology. Horse racing is also taking to blockchain technology like never before. Every detail about a horse is being encrypted and added in the ledger and with a click of a button you can get all the details and stats.The future is now. 

Author: ThyagarajanGopalakrishnan