Blockchain is not a new term in the crypto space. Most people are already aware of this distributed ledger technology and its beneficial factors in the real-world. If you are a newbie, then you may not know about the word Blockchain. In basic words, blockchain is a high-tech and complex technology that is used to store information and data in terms of blocks. Each information will be in separate blocks and chained to the older blocks. That’s why people will call this technology - Blockchain. By using this innovative tech, bitcoin is developed which is the first and popular crypto in the marketplace.
Blockchain and crypto both are the hot talks of the digital town in recent years. It is all because of its use cases and perks. However, the crypto market is more volatile and many new digital currencies are entering into the market with different functions. On the other hand, the adoption of blockchain technology requires time and it is widely used in different industries. Blockchain will inspire many budding startups to obtain new abilities. So that they can gain extreme benefits in their business.
Blockchain technology is highly secure with default protective mechanisms and anti-fraudulent. So it completely avoids anonymous hacking and other malware activities. Besides these, blockchain provides the data with zero transaction cost. That’s why people are searching for blockchain and cryptocurrency trends to implement in their business. If you are a person looking for the latest blockchain industry trends and cryptocurrency trends in 2021. Then this article is completely dedicated to you, my fellas!.
In this article, Let’s have a look at the top 8 innovative blockchain and Cryptocurrency trends that shape 2021.
Here is the list of 8 latest trends in the blockchain industry and cryptocurrency market 2021 that you need to know.
Global Blockchain Market size will Increase
Currently, blockchain technology is gaining an immense amount of popularity among startups and entrepreneurs globally. Multiple industries showing their interest to adopt this distributed ledger technology for enhancing their business in the marketplace.
The post-COVID-19 pandemic boosted the digital transformation drive in many sectors especially via the use of blockchain technology. As a result, the global blockchain market size is expected to expand from $3 billion to $39.7 billion by 2025. Expectations for this innovative technology in 2021 are positive. So we can see rapid changes in the blockchain market and many new startups will enter by starting a new blockchain business.
Blockchain as a service by Leading Tech companies
This blockchain trend is completely implemented with the help of people who are willing to utilize the best blockchain development service. Blockchain was mainly developed for making decentralized money for finance and putting it in the power of people. But that trend seems to be reversing now. Currently, many blockchain development companies are offering powerful blockchain products for their global clients.
The main aim of a blockchain development company is to develop and deliver the advantages of a blockchain network as a service. Apart from this, blockchain development companies help to build reliable blockchain platforms using distinct blockchain networks like Ethereum and Hyperledger.
One of the major appeals of blockchain technology is, it eliminates the intervention of the government and any central authority. From this, we can estimate that this blockchain trend will continue for many years.
Rise of New Cryptocurrency Exchanges
As we know, crypto is always a trendy one in the blockchain world. Also, the profits that are made through digital currencies are endless. At this present time, there are millions of crypto traders globally, and compared to other traders, bitcoin traders are more across the world. So the usage of altcoins and bitcoins are growing day by day rapidly. So there is a vast demand for cryptocurrency trading platforms. When there is a demand and there must be a supply. So many new crypto exchanges will be introduced in the global market in 2021.
Generally, crypto exchange is a trading platform where users can exchange digital assets using crypto or fiat currencies. On the flip side, exchange owners are making endless profits by collecting trading fees, deposit fees, margin trading, and the list go on. On seeing this, many crypto startups and enthusiasts are showing their interest in starting a crypto exchange platform.
Developing your own crypto exchange from scratch or by using white label cryptocurrency exchange software is one of the best ways to kickstart your blockchain business venture. You can either start the CEX platform or DEX platform, the choice is yours. There is no need to worry about the huge investment that is needed for the cryptocurrency exchange business. You can get a premier white label crypto exchange software at affordable rates if you reach the best cryptocurrency exchange development company.
Growing Adoption of DeFi
DeFi is an acronym for Decentrali Finance and since 2019 it has been one of the prominent blockchain trends in the industry. DeFi is a financial-based decentralized blockchain concept that is completely used for creating crypto tokens, wallets, smart contracts, and exchanges. It consists of all the digital assets, protocols, Peer-to-Peer applications, and more.
The DeFi ecosystem helps to create a permissionless via the public and transparent financial-based system. As we know, it works based on decentralization so it can be completely operated without the help of any central organization.
DeFi offers open financial services and it is completely enabled by decentralization which is built on the ethereum blockchain. So DeFi-based platforms emerged as the most energetic sector in the blockchain industry. In the upcoming days, we can expect more from Defi and many new Defi-based platforms will show their presence in the industry.
Stablecoins will Reach Greater Heights
One of the biggest blockchain trends that we can expect in 2021 is stablecoin. Because it also grabbed more popularity and has many benefits. Stablecoin is a digital asset that is completely backed with any fiat currency. It combines the advantages of digital currency with the reliability and stability of fiat currency. So stablecoins are not impacted by the volatility of the crypto market and have a constant price.
Currently, some popular stablecoins are actively present in the global crypto market. Such as Tether, Binance USD, True USD, and more. We can expect more stablecoins in this year. As stablecoins is a new blockchain trend, it can hit the biggest place in the blockchain market easily. When it comes to stablecoins, there are four main types in the global crypto market. Such as
These four types of stablecoins play a major role when it comes to stablecoin development.
Creation of Crypto (Ethereum) Tokens will Increase
Creating a blockchain-powered ethereum token is probably the best blockchain trend in 2021. Crypto tokens are digital representations of fungible or non-fungible goods. Some examples are real estate, art, identity, and many more.
Generally, people create crypto tokens to raise their funds easily through any crypto crowdfunding platform. Crypto tokens can be created in any type of token development platforms like Ethereum or Tron. These two platforms are currently a popular blockchain platform to develop tokens. As of now, the usage of ethereum-based and Tron-based crypto tokens are growing rapidly. And, crypto traders are showing more interest in trading ethereum tokens. Because it has various token standards like ERC20, ERC721, ERC1400, ERC223, and more. But among these, ERC20 and ERC721 are eminent ERC token standards to create ethereum-based crypto tokens.
Thus startups are emerging to the best ERC20 token development company to create ERC20 tokens and ERC721 tokens to raise their funds easily.
Rise of Decentralized Applications
Decentralized applications are probably known as Dapp and it is one of the recent blockchain industry trends. A Dapp is a blockchain-powered peer to peer application that is built-in top of the decentralized network. Mostly all the Dapp’s are completely created on the Ethereum blockchain. Thus, people in the blockchain community say the ethereum blockchain is the Mother of Dapps.
In recent times the usage and creation of Dapps have certainly increased. Thus, the adoption of Dapps will continue to grow this year. Also, Dapps provide all the major advantages of blockchain.
Developing a Dapp might be a tedious task. Because developers need to create ethereum smart contracts for apps. Then test those applications on the blockchain network and try them multiple times. However, Dapps will hit a great height in the upcoming months.
Many New Cryptocurrencies will be Introduced
The Crypto industry is creating new crypto fans all the time. So usage of cryptos is also increasing daily. Thus, many business class people and companies are creating new cryptocurrencies all the time.
In 2009, there was only one cryptocurrency. But 11 years later, that number has jumped to 3,000. Today, in 2021, the number of cryptocurrencies in the market has more than doubled. Companies, startups, and entrepreneurs are all trying to get into this cryptocurrency trend and are willing to create their own crypto coin that can take the market by storm like bitcoin.
Presently, many new digital currencies are appearing in the market and the crypto trading platforms are adding new cryptos daily. Many of these new cryptocurrencies will come and go but there are big hits in the crypto global market as well.
These 8 are the innovative blockchain and cryptocurrency trends in 2021. Blockchain and cryptocurrency are here to stay and in the future to offer plenty of perks. I hope this article has helped you to gain some knowledge on the blockchain trends and cryptocurrency trends of 2021. Keep these blockchain industry trends and crypto trends in your mind and use them perfectly for your business.