- Replacing the energy-intensive PoW consensus algorithm with more environmentally friendly and efficient ones. In 5-10 years, perhaps all new assets will run on PoS.
- Because of greater efficiency, availability, and the near-term transition of the Ethereum blockchain to PoS, we can expect a situation where the capitalization of ETH will exceed the capitalization of BTC.
- Developers are offering new blockchains and add-ons to existing platforms that optimize their performance. This expands the applications of blockchain technology.
- A barrier to blockchain spreading is the low speed of transaction processing. Authors of various projects are trying to come up with new algorithms to validate transactions. Once they succeed, blockchains can be used for microtransactions in various fields.
- Blockchain, which can only account for payments between users, is no longer enough. Platforms are needed to run smart contracts and decentralized applications. Developers are in the process of creating them.
Blockchain of the future
With the advent and development of blockchain comes a new insurance world in which smart contracts replace insurance documents, blockchain "oracles" displace claims adjusters, and decentralized autonomous organizations (DAOs) take the place of traditional insurance organizations.Read more
According to an Oct. 17 Bloomberg report, in the future digital ID cards will be integrated into mobile devices in the form of an app that works similarly to physical resident registration cards.Read more