Blockchain is the biggest disruption to happen to any industry since the invention of the currency itself. The cryptocurrency industry has grown immensely in the years since it began. After Bitcoin’s (BTC) launch in 2009, the entire industry has flourished around the innovative asset and its underlying blockchain technology. People have created thousands of crypto projects, numerous different blockchains, and a number of different blockchain technological specifications and variants.
It’s already transforming the financial industry and has the potential to completely transform the way we exchange products, money, and information.
In this article, we will discuss a few topics that are exploding in the blockchain industry!
Nonfungible Tokens (NFTs)
Nonfungible tokens (NFTs) exploded in prevalence in 2021 by offering a new way to authenticate and track unique items of value. The NFT subdivision of crypto needs folks with technical skills to build out solutions around existing use cases, as well as explore uncharted usages of the tech. Because they are based on blockchains, NFTs can also be used to remove intermediaries and connect artists with audiences or for identity management. NFTs can remove intermediaries, simplify transactions, and create new markets. Much of the current market for NFTs is centered on collectibles, such as digital artwork, sports cards, and rarities.
Traders
Trading crypto involves buying and selling assets in search of profit. Traders are not so much concerned with what an asset does and how it works as much as they are interested in whether or not they can buy assets and sell them at higher prices, or vice versa. It has to be mentioned that traders may be interested in the latest news, looking to buy and sell based on hype or expectations.
Traders also often use price charts, gauging price patterns and price indicators. Since Bitcoin and other cryptocurrencies show asset movement publicly on their blockchains, analysts can come up with their own conclusions based on transactions and activity, known as on-chain analysis.
Content Creators
In recent years, the digital content industry has truly exploded. Platforms such as YouTube, Spotify, and Instagram have given rise to a whole industry of content creators who produce valuable, high-quality content to their audience. Virtually, anyone can learn vast amounts of information about the crypto space through YouTube, Twitter, and other methods, and then add their own expertise to the equation by providing their own content. In September of this year, Twitter has planned to enable Bitcoin tipping for content creators.
With numerous content-sharing platforms available, people are more empowered than ever to produce original content, regardless of nature or form, to a mass audience that is just waiting to consume it. Designers, writers, and other content creators often spend an incredible amount of time on a project only for it to be stolen by someone else.
Conclusion
The cryptocurrency and blockchain industry has branched out into a number of specific niches. Thus, everyone’s talking about it.
Source: Cointelegraph | Forbes | Techwire Asia