Blockchain Technology Industry 2018 Global Market Size, Technology Review, Cost Analysis and …

The increasing implementation of blockchain based smart contract in the North America region driving the Blockchain market in this region. The high …

Infinium Global Research has added a new report on Global Blockchain Technology Market. The report covers the analysis of global as well as regional markets of blockchain technology. Moreover, the report gives insights into the factors that affect the global as well as regional performance of the market in the short run and in the long run. According to the report, the global blockchain technology market is projected to grow at a CAGR of 37.6% over the forecast period of 2018-2024.

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What is the Market Size of the Global Blockchain Technology Market?

Blockchain technology is basically the record keeping technology that contains the information within the chain of blocks. Blockchain was invented for Bitcoins in 2008 by Satoshi Nakamoto. In this blockchain, the list or record are linked together by using cryptography. Cryptography is a technique to secure the communication from the third-party. The block is the spreadsheet that contains every information about transactions. Each transaction generates a hash, a string of numbers and letters. Each block in the blockchain contains the cryptographic hash of the previous block. Even a small change in a transaction creates a completely new hash. Therefore, each block contains information about the previous block that will further together make the blockchain. The blockchain is one of the types of the distributed ledger that use to record, share and synchronize transactions in a decentralized manner.

What are the Major Drivers, Restraints, Opportunities, Challenges, and Industry Trends and their Impact on the Blockchain Technology Market Forecasts?

The blockchain is a trending technology nowadays, and various companies are trying to implement it in its business owing to its superior ability to maintain records, cost-effectiveness and other advantages. In order to offer the benefits of blockchain to the broader business community, the companies such as IBM, Amazon, and others are decided to deliver the blockchain technology through the cloud As Service business model that is known as blockchain as a Service (BaaS). The growing adoption of BaaS business model from the Individuals and businesses is driving the growth of the blockchain technology market. In addition, BaaS service offers consumers to use cloud-based solutions to build and host their own black-chain through the apps. The blockchain helps them to manage all the necessary tasks and activities including bandwidth management, hosting requirements, allocation of resources, provides security features and many others.

Furthermore, the rapidly growing use of blockchain in the banks, government and public database are anticipated to escalate the growth of blockchain market. The various banks across the world are introducing the blockchain technology in their fund transferring systems. Lower transaction fees, high transparency and minimize the hacker’s attacks with improved securities are the key functions offered by the blockchain in the banking and other financial sectors. The blockchain is programmed to record not just financial transactions but virtually everything of value so they are very beneficial for IT and Telecom, power generation, Educations systems, and other industry verticals. In addition, the blockchain technology is vastly used by the government and Public Database to keep records. The blockchain is capable of providing fast, secure, and low-cost international payment processing services so they are vastly adopted in the payment transferring services that are expected to contribute to the growth of the blockchain technologies market. However, the blockchain is in the skeptical stage that is hampering the growth of blockchain market.

Moreover, the various utilities are evolving into a distributed and smart power grid. The various organization and the companies are investing in distributed power generation. In utilities, blockchain- technology can be applied to several processes, such as energy credit management, the promotion of green energy, asset optimization, payments within microgrids, prepaid smart meters and payments to distributed generation asset owners. The growing use of blockchain in the power generation industries is projected to create several opportunities in the upcoming years. Additionally, continuous blockchain developments and use of blockchain technology among the various industry verticals are expected to serve more growth opportunities for the companies working in the blockchain technology market.

Which Region will Share the Largest Market for the Blockchain Technology?

Among the geographies, North America holds the maximum market shares in the blockchain market. The increasing implementation of blockchain based smart contract in the North America region driving the Blockchain market in this region. The high adoption of advanced technology and the growing application of Blockchain in the BFSI and healthcare is expected to contribute to the growth of the blockchain technology market in the North America region. In addition, Asia Pacific is the fastest growing region in the Blockchain technology market owing to the growing adoption of the blockchain across various industries such as IT and Telecommunication, BFSI and others. The governments in Asia Pacific region are taking initiative to introduce the blockchain technology in the financial sector to modernize their internal operations and minimize costs that will further create various growth opportunities for the blockchain market in this region.

What are the Market Segments of Global Blockchain Technology Industry?

The report on global blockchain technology industry covers segments such as application and industry vertices. On the basis of application, the global blockchain technology market is categorized into payments, digital identity, smart contracts, documentation, and others. On the basis of industry vertices, the global blockchain technology market is categorized into BFSI, media and entertainment sector, healthcare and life sciences, retail and e-commerce sector, power generation, and others.

What are the Market Major Key Players and the Regions of the Blockchain Technology Industry?

The report provides profiles of the companies in the global blockchain technology market such as IBM Corporation, Microsoft Corporation, Amazon, Blockchain Tech Ltd, AWS, Earthport, BTL Group, Factom, Ripple, and Abra.

Browse Detailed TOC, Description, and Companies Mentioned in Report @

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Exploring Electroneum {ETN} and its key characteristics: Built specifically for the good of humanity

Under the leadership of Richard Ells, this virtual currency has seen a soaring rate of adoption. They have abided by the KYC/AML regulations.

After July kicked-off, Electroneum was able to successfully implement an update. The chain will henceforth be backed by the Proof-of-Responsibility protocol. This leads to crucial NGOs [non-profit and non-governmental entities] being chosen as miners, instead of the usual process of validation which leads to centralization.

Under the leadership of Richard Ells, this virtual currency has seen a soaring rate of adoption. They have abided by the KYC/AML regulations. With this upgrade, the blockchain is practically impenetrable if the possibility of a 51% attack arises. As the network is being monitored constantly, malicious threats can be stopped in their tracks in an effective manner.

Electroneum is also the first currency to have conceptualized cloud mining involving mobile phones. All one needs to do is download their app, sign up and earn $3 worth of ETN every month. This has contributed to their popularity in Africa and other nations as well. TwitterAudit has verified that 96% of their reported followers are genuine [this is great news, as both TRON and XRP have been propelled forward via the use of bots].

Want to know more about why we chose @UbuntuPathways as one of our trusted NGOs?

Take a look at this fantastic Q&A from ‘MancItalian’ with Ubuntu’s UK director to see how we began working together >

— electroneum (@electroneum) August 25, 2019

For now, ETN is the only network to have brought in the Proof-of-Responsibility methodology. Electroneum is also one of the most environment-friendly digital currencies and saves time and resources during mining. So what are you waiting for? Check out this immensely secure network with extraordinary scalability.

Electroneum is ranked at #104 on coinmarketcap. The price declined by 5.82% in the course of the past 24-hours. The trading volume recorded is $0.170 million, while the supply has 9,790,903,050 ETN coins in play. As of this moment, ETN is priced at $0.003551. The total market cap of Electroneum, according to present data is $34.769 million.

About Post Author

Aditya Chatterjee

A specialist in comics and cryptocurrencies with an inclination towards DASH and Cardano. I have an innate desire to be a seasoned trader in the near future. Analyzing candlestick charts is a personal hobby.

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Beyond Bitcoin: Why There Will Be More Than One Successful Cryptoasset

It was created in 2009 when its pseudonymous inventor, Satoshi Nakamoto, figured out how to do a seemingly simple thing: send money over the …

People often ask me, “If bitcoin is so great, why do we need all these other coins like ether?”

Or, “Why do 2,000 different cryptoassets even exist? Shouldn’t we all just use the best one?”

It’s a logical question.

Various Hand Tools Hanging On Pegboard In Workshop

Why are there 2,000 different cryptoassets? Because each one is optimized for a different use case.


We’re taught to think about bitcoin and other cryptoassets as currencies. Viewed that way, having multiples makes no sense. Why do we need multiple digital currencies if there’s only one internet?

The answer is that the term cryptocurrency is misleading.

Traditional currencies like the dollar, the euro and the yen all do essentially the same thing; they are payment tools in different countries or regions. But cryptoassets like bitcoin and ether actually do very different things. Understanding those differences is the key to understanding which ones will be important in the future.

Bitcoin vs. Ether

Bitcoin was the first and is today the most valuable cryptoasset in the world. It was created in 2009 when its pseudonymous inventor, Satoshi Nakamoto, figured out how to do a seemingly simple thing: send money over the internet safely without using a bank.

The software that allows this to happen is called the “Bitcoin blockchain.” As the first blockchain ever created, the software underlying bitcoin is pretty basic. Essentially all you can do with it is send, receive, and store bitcoin.

Ether, by contrast, was created in 2015. The software that underlies ether is called the “Ethereum blockchain.” It’s much more flexible than the Bitcoin blockchain. In fact, the Ethereum blockchain is “Turing-complete,” meaning you can program it to do anything. If Bitcoin is a beeper, Ethereum is a smart phone.

It’s easy to imagine why Ethereum’s flexibility is a big deal. If you can programmoney, you can replace many of the things that the traditional financial services industry charges us huge fees for.

What Could Ethereum Do? Here’s One Example

Before I joined the crypto industry, I was the CEO of a business called We didn’t always have that URL, however; we bought it from a squatter for quite a bit of money.

When we bought it, we didn’t trust the squatter: We weren’t going to wire him money before he sent us the URL. Similarly, the squatter didn’t trust us: He wasn’t going to send us the URL before he got his money.

To facilitate the transaction, we hired a lawyer to sit in the middle and act as an escrow agent. We wired our payment to the lawyer, the squatter sent him the URL, and the lawyer crossed the transaction. For this service, he charged us something like $2,000.

Today, rather than hiring the lawyer, we could write a small program for the Ethereum blockchain. The program would say: When Matt uploads the money (in ether) and the squatter uploads the URL, cross the transaction. We would save $2,000! Multiply that by a hundred different simple financial services and you can see why ether is potentially a big deal.

Does That Mean Ether Is Better Than Bitcoin? No.

Does that mean ether is “better” than bitcoin?


From a software security perspective, Bitcoin’s limited functionality “limits the attack surface” for cyber attacks. As a software that handles money, security is hugely important, and Bitcoin’s simplicity makes it super secure.

Moreover, from an ease of use perspective, having only “send”, “receive”, and “store” as your options makes it easier to avoid human error.

As such, bitcoin’s underlying software is optimized to be extremely secure and easy-to-use: Perfect for bitcoin’s primary use case as a kind of “digital gold.”

By contrast, ether’s underlying software is more flexible, which is why people talk about it disrupting the broader financial industry. It’s not as good as Bitcoin at storing value, but it’s way better at replacing overpaid lawyers and investment bankers.

Other leading cryptoassets are optimized for other use cases. XRP, for instance, is optimized for speed, and is designed to replace traditional international payment systems. Monero is optimized for privacy, and is optimized to complete with private/offshore banking solutions. And so on.

Does this mean we need 2,000 different cryptoassets? Of course not. Most of them are worthless and will trade to zero.

But my guess is that a handful of them will find major addressable markets and become quite valuable in the future.

PS: Crypto experts will undoubtedly point out that people are working to expand bitcoin’s core functionality using off-chain enhancements, such as the Lightning network. It’s true, and that work is very interesting. I’ll address the idea of off-chain enhancements to various blockchains in a later column.

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SBI VC announces Interim Shareholder Benefit campaign with XRP

“We would like to provide our shareholders with the opportunity to use the virtual currency XRP in addition to the information provided by the “My …

Ripple’s efforts towards XRP adoption led to a partnership with SBI Holdings, which led the way to a joint venture “SBI Ripple Asia”, to promote the use of the Virtual currency in Asian markets.

Under the said partnership, SBI announced Shareholder Benefits Campaign to grant them with 30 XRP, on August 28. An excerpt from the announcement read:

“We would like to provide our shareholders with the opportunity to use the virtual currency XRP in addition to the information provided by the “My Virtual Currency” app. “

The campaign was implemented to return profits to shareholders, as the company continues to increase dividends for the 10th consecutive period until the end of the fiscal year. The Shareholders Benefits will also be available at the end of the fiscal year, noted SBI’s announcement.

SBI has applied for market changes at the Tokyo Stock Exchange and announced the increase of the interim dividends along with presenting the shareholders with XRP as an intermediary. SBI and Ripple’s partnership had extended a position for the SBI CEO, Yoshitaka Kitao in Ripple and now, he serves as an executive at Ripple Labs Inc.

SBI previously carried out similar campaigns where its users enjoyed free XRP coins. On August 23, SBI launched another promotional campaign for XRP where the customers could bag 200,000 yen worth XRP. Moreover, the new account holders too were offered XRP worth 1,000 yen as their accounts went live.

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Litecoin Price and Hashrate Diving Down; What’s Next?

Blockstream CSO Samson Mow described Ethereum as a “technological dead-end” this week, while the coin’s co-founder, Vitalik Buterin, warned its …
Litecoin price and hashrate downNews

Anja van Oosterhout

Anja van Oosterhout| Aug 28, 2019 | 11:00

Litecoin’s hash rate has declined by over 30% since its block size halving event earlier this month, the latest data shows.

Litecoin Trades At Lows Against USD

The increasingly troubled altcoin, currently the fifth-largest cryptocurrency by market cap, has lost 30% of its value since the halving, which occurred on August 5. Data from monitoring resource confirmed the drop.

At press time Wednesday, LTC/USD traded at $72.35, its lowest since the start of May.

The grim reading for Litecoin investors capitalizes on the teething problems which have beset for Litecoin and altcoins more broadly this year, as Bitcoin soars at their expense.

As Bitcoinistreported, investors were hopeful that the halving would push up demand and increase price performance. The event reduced the amount of LTC available for each mined block of transactions from 25 LTC to 12.5 LTC.

Bitcoin’s next halving is scheduled for May 2020, with mounting research pointing to a serious boost for markets as a result.

For Litecoin, however, that boost never came. In fact, miners appeared to conversely lose interest immediately after the halving.

A loss of hash rate means participation in mining is lower, which in turn reduces the security of a Proof-of-Work (PoW) blockchain such as Litecoin’s.

The statistics are the latest blow to the altcoin’s fortunes. Previously, publicity difficulties ensured, focused mainly on creator Charlie Lee’s sell-off of his holdings in 2017.

While Lee said he remains committed to Litecoin development, critics widely panned the move as an admission that the token’s value was unlikely to surpass its levels at the time.

XRP, Ethereum Feel Chill Of ‘Altcoin Winter’

That prophecy turned out to be true, as the altcoin winter of 2018 remains ongoing. As Bitcoinist noted, other major tokens have suffered a similar fate.

This week, Ripple, the entity linked to third-largest crypto XRP, entered into a partnership with MoneyGram. The move saw XRP volumes surge, but XRP/USD failed to react, instead continuing to fall.

Markets have felt constant pressure in 2019 due to Ripple’s huge sell-offs, which totaled more this year than any other in the coin’s history.

Ethereum too has felt the pinch. The largest altcoin currently languishes at multi-year lows against Bitcoin, as critics ramp up their rhetoric about its future.

Blockstream CSO Samson Mow described Ethereum as a “technological dead-end” this week, while the coin’s co-founder, Vitalik Buterin, warned its network was almost full this month.

What do you think about Litecoin’s performance? Let us know in the comments below!

Images via Shutterstock

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