With the introduction of blockchain technology has now shifted to different trend. In a very short time span a lot has already been going around in blockchain. Today we are going to highlight some trends that created a lot of hype in 2019.
- Hybrid Blockchain
Hybrid blockchain provides the best solution by making use of the features of public and private blockchain. In many cases some organizations cannot go fully decentralized by making use of public blockchain so there are cases when the public and private blockchain features need to be used together. So there comes the hybrid blockchain as they provide customizable solution thereby giving higher transparency, integrity and security. Its use cases include banking, supply chain, hybrid IOT and many others.
Blockchain as a Service
BaaS offers cloud based service which enables consumers to build their own blockchain powered products and use its other features without setting up complete blockchain infrastructure. This is adopted by amazon, microsoft and others.
Federated blockchain is almost similar to the private blockchain but the only difference is that instead of one identity controlling it there can be many other authorities can participate in controlling pre-selected nodes to ensure the block validity. This service is largely adopted for food traceability by walmart by utilizing the IBM blockchain.
It use case include supply chain management, financial services.
as the new blockchains have come into existence which offers high transparency, speed and decentralization but there still lies a border that how we can interlink all the blockchains altogether and they can communicate with one another. To achieve this, there are already some projects that are working to achieve this breakthrough such as BlockNet, Aion , Wanchain and others.