HH What Will Blockchain Look Like In 2022?

If you often read our articles, you will surely know that blockchain technology is one of the hottest trends on the market right now. The union of its decentralized nature with a clever data encryption mechanism makes it so that Web3 may be close to replacing Web2. 

Although the enormous potential of this new tool is clear to many, understanding its exact future applications is complex. When the internet was born, no one imagined, for example, that we would be able to book our holidays online one day.

Blockchain, Cryptocurrency, Network, Virtual, Currency

Image Source: Pixabay

Predicting the state of the world in 2050 appears to be truly impossible. For this reason, in this article, we will limit ourselves to making some logical forecasts for 2022. Nevertheless, the market shows several significant trends, which we expect to grow next year.

A green revolution

Although this was initially not clear, we are now all aware that blockchains can use a lot of energy and lead to high CO2 emissions. This was, for example, the main reason why Tesla Inc. suddenly stopped accepting Bitcoin payments earlier this year. Therefore, in the next year, we will likely see a growth in environment-friendly blockchains and cryptos (TSLA). 

A futuristic technological system absolutely cannot afford to damage the environment. So, what can we do to move in this direction? Something that is currently under study is, for example, creating a less energy-intensive blockchain system.

You have probably heard of Ethereum’s grand plans, which, with the Eth2 project, aim to create an eco-friendly blockchain network. The switch would largely depend on its proof-of-work (POW) internal system to put this in technical terms. It has been demonstrated that proof-of-stake (POS) is a technology that requires far less energy to work (ETH-X).

NFT fever

Selling a digital asset in 2021 has become a big business. The invention of non-fungible tokens (or NFTs) introduced the creation of a proof of authenticity of a virtual asset. As a natural consequence, we saw the opening of many marketplaces for NFTs exchanges.

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Disclaimer: The Content is for informational purposes only; you should not construe any such information or other material as legal, tax, investment, financial, or other advice. Nothing ...

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