The Bitcoin, being the most popular cryptocurrency, was established in 2009. Soon afterwards, many of the other cryptocurrencies emerged and gained attention from investors. The cryptocurrency revolution has continued to develop so that many industries and sectors have adopted the use of the cryptocurrencies fully. It is also expected that many more companies will adopt the use of cryptocurrencies by the end of this year. With the increased uses of the cryptocurrencies, web development trends of the cryptocurrencies have continued to advance.
Here are the top 5 trends in cryptocurrency web development;
1. The blend between blockchain and artificial intelligence (AI)
The artificial intelligence has a algorithm that makes it possible to perform more functions than it did before. The artificial intelligence coupled with the blockchain technology enables the blockchain to have more capabilities. The machines need big databases in order to be able to operate at maximum efficiency. When the AI is coupled with the blockchain technology, which is popular for its tight security, it becomes more attractive to big providers of big data.
2. The internet of things (IoT)
Studies have shown that around 20% of the IoT companies will implement the use of basic blockchain technology by the year 2019. The combo between the internet of things and the blockchain technology is set to see the increase of insurance policies that are automated. The blockchain technology will also be a very important asset in the third generation security. The merger will also ensure the speeds are faster, more secure and also cheaper using a technology called tangle. The automation of the business helps to sever the complicated centralized IT system of the company.
3. The integration of the rule of law by the blockchain technology
The smart contract can be defined as a code that is stored in a computer. It is very closely related with the blockchain technology and Bitcoin and it is mainly used to automate the process of the business. The blockchain technology is enforcing the rule of law in order to resolve any differences and disagreements that may occur. This is required because a decentralized currency is not in a position to impose any authority whatsoever.
4. Focus on production rather than pilot projects
Experts have seen that the blockchain technology was mainly focusing on pilot projects. Some however, would get dumped while the others proceeded to the production stage. The blockchain technology is however set to help companies and enterprises choose the technology to implement. This way, the enterprise is able to increase the project’s value greatly.
5. The cyber security
There has been some ransomware attacks in the past and this has called for more attention on the security systems. To ensure this, the blockchain technology will be able to act as a covering to protect cryptocurrencies. It is a more secure blockchain technology identity to help in protection of identity data systems.
The blockchain technology has continued to increase in popularity. With the current trends in web development, the blockchain technology is set to positively impact many businesses in the near future. The blockchain technology will also enable people to introduce new currencies.