Facts & Stats of Blockchain Development in 2018

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Facts Stats of Blockchain Development in 2018

• PixelCrayons

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Some Stats about Blockchain
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As per Statista, global blockchain market is
predicted to reach 339.5M dollars.
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Gartner sees IT spending at 3.7 trillion in AI,
Blockchain development IOT.
2017 Spending 2017 Growth 2018 Spending 2018 Growth 2019 Spending 2019 Growth
Enterprise Software 355 8.9 389 9.5 421 8.4
Devices 667 5.7 704 5.6 710 0.9
IT Services 933 4.3 985 5.5 1030 4.6
Communication Services 1393 1.3 1427 2.4 1443 1.1
Overall IT 3527 3.8 3683 4.5 3784 2.7
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Here are some facts about Blockchain

• A great number of government bodies are
  collaborating on potential benefits of blockchain
  development.
• Insurance and finance sectors to experience deep
  in blockchain development.
• Blockchain development is driving digital
  transformation of various enterprises in
  automation privatization.
• Cybersecurity is also amplifying blockchain
  development adoption.
• Asia Middle East is aggressively pushing
  blockchain development services in the banking
  sector.
• The pace of ICOs is growing significantly
  faster-overtaking venture capital funding.

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Which Blockchain technologies are in demand?

• Ethereum It is one of the most mature blockchain
  platforms available today which is known for its
  robust smart contracting functionality and
  flexibility.
• Hyperledger Fabric It is a B2B-focused Modular
  Blockchain Platform used to create
  enterprise-grade distributed ledger frameworks
  and codebases.
• R3 Corda It is the world's biggest financial
  institutions that has created an open-source
  distributed ledger platform called Corda.
• Ripple It aims to connect banks, payment
  providers, digital asset exchanges and corporates
  through RippleNet, with nearly-free global
  transactions without any chargebacks.
• Quorum It is designed to handle use-cases
  requiring high-speed and high-throughput
  processing of private transactions, with a
  permissioned group of participants.

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Future of Blockchain Development
Blockchain solutions are still a way off from
changing the world. Here, we have summarized top
5 Blockchain development predictions for the
coming years 1. The utilization of
zero-knowledge proofs will grow. It is a
mathematical operation and a cryptographic tool
that allows one group to prove to another. 2.
Blockchain will come out with its own
asset-tracking tool. Using blockchain
development, Tokenization serves the purpose of
identification and accessibility of the
platform. 3. Proof-of-stake will be continually
dominating the Blockchain consensus game. It is
estimated that Bitcoin electric consumption will
trend toward equivalent consumption of the
country of Denmark by the year of 2020 4.
According to IDC (International Data
Corporation), By the year of 2019, 20 of all
IoT deployments will have basic levels of
blockchain services enabled. In fact, Blockchain
and the IoT (Internet of Things) will be
altogether. 5. Bitcoin is planning to implement
the rule of the law. In addition, for
automating business process operations, Smart
Contract is recognized as powerful tools.
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Which industries are going to be benefitted from
blockchain?

• Financial Transactions
• Micro-payments
• Banking
• Supply Chain
• Crowdfunding
• Securities Trading
• Voting
• Healthcare
• Cloud Storage
• Virtual Property

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