Top Trends of Blockchain Technology in 2020
1. Blockchain as a Service (Baas)
One of the most eminent technologies of blockchain trends in 2020 is Baas. It is a newly trended blockchain technology that is currently integrated with several startups as well as enterprises. Baas is nothing but a cloud-based service that allows users to build their digital products by incorporating with the blockchain technology. The digital products might be Dapps, Smart Contracts, or any other services that can work without setting up and requirements of the complete blockchain-based networks. Some of the companies developing blockchain networks that provide Baas services are Amazon, IBM, and Microsoft, consequently shaping the future of blockchain applications.
2. Federated Blockchain Networks
Blockchain networks are classified into, private, public, federated, or hybrid. The term “Federated (or) Hybrid” Blockchain can be referred to as one of the lastest blockchain trends in the tech-based industry. It was an upgraded form of the basic blockchain model, which makes it more ideal for many specific use cases. In this blockchain type, multiple authorities can control the pre-selected nodes of blockchain, instead of only one organization. Now, the selected various nodes will validate the block so that the transactions can be processed further. In the year 2020, there will be a change in the usage of federated (or) hybrid blockchain as it provides private blockchain networks.
When it comes to bitcoin, generally it has highly volatile. To avoid this stable coin enters the market strongly with the stable value associated with each coin. As of now, stable coins are in the initial stage and it is to be predicted that in the year 2020 stable coins will achieve their all-time high value.