How will Blockchain Technology Transform by 2030?

Blockchain technology today
Since 2013, when Bitcoin was launched from the original idea of ​​a digital currency, its acceptance rate has steadily increased. There is currently a total of around $170 billion in decentralized funding of all blockchain platforms. It is this value that drives more investors into the crypto world.

However, this does not mean that the trend will close soon. There are big projects like Metaverse still in the works. In a few years, say 2030, there will be more improvements in blockchain technology. In addition to the economic and financial sectors of the economy, most of which are related to blockchain, AI is involved in diversifying the field. Some of the things that need improvement are discussed below.

Changes in the game industry
Let it be with the gaming world talking about cryptokitties, blockchain technology is taking a big step towards revealing the art of playing games when you win. Using cryptocurrencies, players can sell their collectibles as indispensable tokens on online gaming platforms. This is quite revolutionary as players can easily become crypto investors by killing two birds with one move!

Laws and Legal Regulations
The decentralization of blockchain technology makes it difficult for the federal government to monitor activity on the platform. One of the reasons central banks engage in activities related to the financial sector is to protect investors’ processes and assets. If these are lost, there is impunity for criminals. If laws were enforced on the blockchain, there would be less crime, especially by hackers.

Evidence of quality without knowledge
The inclusion of NFT into the blockchain is meant to improve the quality of verification. By using private keys and public keys, exchanges and transactions can be carried out while maintaining the principle of confidentiality. This eliminates the need to provide basic information about the sender or recipient. This is because it uses mathematical operations.

Proof of promise against proof of work
The digital world has made the platform better by including Proof of Pledge instead of Proof of Work. The first is an improvement over the second. By using a mathematical consensus algorithm, production costs, especially energy consumption for work, are reduced. Cardano, QTUM, and Ethereum are some of the platforms that Proof of Stake has introduced.

Decentralized identity
The blockchain network has plans on how to decentralize biodata and identification. Plans are appropriate because they create and collect information about a person, including their abilities and skills, biological data, and work experience. This reduces the number of counterfeiters and imitators. Apart from origin, you can reliably find all the data you want in one place, for example for a job interview.

It is recommended to join the blockchain now as the upgrade is secure. If all plans are implemented, it will be a better experience for investors and traders.

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