Klaytn is a blockchain service provider aimed at integrating blockchain solutions into legacy business infrastructures. Powered by the native KLAY token, the Klaytn blockchain provides a user-friendly environment for businesses to build and deploy blockchain applications (BApps) with minimal fees. Klaytn provides all the tools needed to get enterprise-ready blockchain applications into production quickly. Also, the announcement of the Samsung KlaytnPhone integration is coupled with several partnerships with major companies looking to harness the power of blockchain for the first time. Moreover, Klaytn aims to make the mass adoption of blockchain technology as simple as possible. This is achieved by providing the tools and resources required for businesses to easily integrate blockchain applications and services. Also, Klaytn has introduced Klaytn Wallet to easily navigate the Klaytn network, alongside various other wallets and apps.
Sia is a decentralized blockchain-based cloud storage network. Using underutilized hard drive storage space, the Sia Storage Platform has created a marketplace for data storage. This provides higher levels of reliability than centralized alternatives. Furthermore, this comes at a much lower cost and is more reliable than centralized cloud storage platforms. As Sia users hold their own private keys, no outside entity can access user data held on the Sia blockchain. Moreover, Sia helps to prevent hacking and censorship by providing a tamper-proof system for data storage. The Sia blockchain is powered by the native Siacoin, which is used for renting out hard hard drive space. Also, Sia has recently introduced the Skynet content delivery network (CDN). This enables developers to build decentralized applications (dApps) that integrate seamlessly with the Sia blockchain.
As of 2021, Bitcoin and cryptocurrencies more broadly have become well-known phenomenons throughout the world. Furthermore, the use of such virtual currencies is growing rapidly as people become increasingly interested in cryptocurrency and blockchain. Along with this heightened interest in crypto, the amount of investments is growing at a similar pace. Blockchain is the technology underpinning cryptocurrencies and which makes them possible. As awareness and adoption of crypto grows, cross-industrial demand for blockchain follows. However, even though most people have heard of blockchain, most of them are unaware of how it actually works and how to build one. Creating a fully functioning blockchain can be challenging and time-demanding. One of the initiatives trying to solve this is Parity Technologies’ Substrate.
To say that blockchain interest has been warming up in the last few years would be an understatement. Rather, thousands of high-profile companies all around the world are already putting their money where their mouths are and are investing in blockchain technology. Nevertheless, the blockchain industry still has some growing pains to fully go mainstream. One of the largest challenges the blockchain industry needs to clear is achieving something known as blockchain interoperability. Put simply, different blockchains have a hard time talking to each other – something oftentimes referred to as ”cross-chain communication”.
Non-fungible tokens (NFTs) have been hitting the headlines in recent weeks across global media outlets. These include the Wall Street Journal, The New York Times, and the legendary music publication Rolling Stone magazine. Alongside use cases for financial bonds, insurance policies, and artwork, NFTs are the key to blockchain music royalty tracking. We’re beginning to see more mainstream artists opting to release their music as NFTs on the blockchain. The economic pressures resulting from the global pandemic have hit musicians harder than most industries. This is of course, following a continuous decline in revenue since the introduction of online streaming. However, blockchain music streaming is here to fix that. Blockchain in the music industry is becoming increasingly popular, and for good reason too!
Crypto art has been a relatively big talking point in 2021. The coming together of art and blockchain is still a relatively novel concept to many. However, blockchain art is quickly becoming one of the most exciting areas of the crypto industry. The proliferation of art NFTs has introduced a wave of new artists creating digitally verifiable art NFTs. Furthermore, this includes works from emerging artists, crypto natives, and traditional artists alike!
Blockchain-based sports betting has been a catalyst for the widespread adoption and use of crypto and blockchain in sports and esports. Now, with professional athletes being paid in Bitcoin, top-tier endorsements, sponsorships, and fan incentive initiatives, blockchain technology in the sports industry is beginning to thrive. Though this may not be obvious to all, soon, blockchain could play a major role in sports, entertainment, and esports. The number of blockchain use cases in esports has skyrocketed in recent months. Furthermore, this looks set to continue as mainstream crypto adoption grows exponentially sector-wide!
Chiliz brands itself as a leading international fintech provider in the sports-entertainment business. In fact, Chiliz developed and built the sports fan engagement platform “Socios” on the Chiliz blockchain, with the native Chiliz token (CHZ) used as the exclusive currency. The platform was developed to create unique experiences for sports fans and monetize fan engagement using blockchain technology. Several high-profile football teams, sports companies, and athletes are involved with the project. This includes the likes of Juventus, AC Milan, and the Ultimate Fighting Championship (UFC)! By partnering with the biggest names in sports entertainment, Chiliz is exposing an unprecedented number of potential new users to crypto!
As transaction fees on the Ethereum Network push new highs, the competition between smart contract-enabled blockchains is heating up. Ethereum has long been the go-to platform for decentralized applications (dApps). The network effect of Ethereum and Ethereum-based dApps has been a catalyst in creating an environment where developers can program money in innovative new ways. Without the success of Ethereum over the years, the demand for smart contract-enabled blockchains would likely be substantially lower. However, several new projects, including those established by founding members of the Ethereum team, have created compelling alternatives to the number one decentralized finance (DeFi) blockchain. Blockchain-based smart contract platforms are becoming fiercely competitive in their adoption and utility. But, what are the differences between these blockchains and smart contract development platforms?
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