When it comes to blockchain, there is still a lot of buzz—even if the hype has peaked and early adopters have realized the technology doesn’t quite deliver on all its promises (which is true of any new tech, when overhyped). But the technology isn’t dead yet. In fact, many innovations are taking place that may significantly alter its future trajectory.
One important trend is the focus on scalability solutions. As blockchain networks evolve, the need for high transaction throughput becomes more important. Solutions such as layer 2 protocols and sharding help address this need, allowing for a larger range of applications without sacrificing security.
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B3i.tech is the application of blockchain to supply chains. As companies struggle to contain food recalls, it is crucial they be able to trace the source of contamination. Blockchain technology allows them to see every step a product has taken, including stops and deliveries, so they can quickly identify the problem and prevent further outbreaks.
Other emerging blockchain trends to watch include asset tokenization, which allows for the monetization of real-world assets such as real estate and shares in private companies. This is particularly helpful for companies that want to open their capital markets to a wider audience. And finally, a renewed focus on environmental sustainability is also occurring. For example, some projects are using eco-friendly consensus mechanisms that reduce the energy consumption of blockchain networks. This is a reflection of a larger societal shift toward responsible technology use and could catalyze further regulatory support and user acceptance.…