(MoneyNewsWire.Net, July 02, 2018 ) Blockchain is an ambitious technology that is possessed with the potential to make the functioning of cybersecurity and automation better. This technology has an opportunity for the betterment of infrastructure of software industry.
The technology has evolved over the years and is a sophisticated version of previous existing technologies beginning from Mainframe, Client IT Server System, Clouds and Blockchain. Blockchain has its application in financial services, insurance, healthcare, government, education, etc.
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There are difference in the structures of blockchain, permissioned blockchain and permissionless blockchain.
Major blockchain platforms are R3 Corda, Ripple, Request Network, Hyperledger Fabric, Chain, Ethereum, etc. The global blockchain market is expected to increase at a significant CAGR during the years 2018-2022.
The blockchain market is expected to increase due to growth in internet penetration, adoption of blockchain by EU, etc. Yet the market faces some challenges such as, environmental cost, lack of legal framework, complex to understand the blockchain, etc.
Ripple Labs, Inc.
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The report titled "Global Blockchain Market: Size, Trends & Forecasts (2018-2022)", provides an in-depth analysis of the global blockchain market by value and by segments.
The report also assesses the key opportunities in the market and outlines the factors that are and will be driving the growth of the industry. Growth of the overall global blockchain market has also been forecasted for the period 2018-2022, taking into consideration the previous growth patterns, the growth drivers and the current and future trends.
The competition in the global distributed ledger technology is dominated by IBM, however, the competition in blockchain market is ambiguous.
Further, key players of the blockchain market IBM Corporation, Microsoft, Ripple Labs, Inc. and Accenture plc are also profiled with their financial information and respective business strategies.
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