details of every transaction that takes place can be stored with the help of the

central ledger.

The use of federated blockchains is increasing

The federated blockchain has to function under different authorities, whereas

the regular blockchain follows a single secure, trusted node.

Essentially, a federated blockchain is like a private blockchain with more

features like the liberty to customize its outlook.

Blockchain-as-a-Service (BaaS) mass adoption

The organizational services or operations and the integration of blockchain into

their system is BaaS, a situation where the development of an organization’s

products or operations is done using blockchain.

Influence in social networking

Blockchain will get more involved in social media with the springing up of

more social networks being built on blockchain technology. The problem of

data control, privacy violations, content relevance, and scandals would be

solved by a decentralized network.

Hybrid blockchains

A new concept in the blockchain space attempts to fuse both public and private

blockchain together to create a hybrid. The purpose is to merge the benefits of

both blockchains to create a solution. In spite of the inclusion of public

blockchain in the union, they still operate in a private ecosystem to ensure

security.

Hybrid blockchains are quick to set up, run and it is simple to verify

transactions because of their influential nodes and is secured, so you can

expect less hacking and the cost to be lower.

Blockchain-as-a-Service (BaaS)

The cloud-based network’s creation and management by a third party for

organizations in the business of building blockchain applications is called

Blockchain-as-a-Service (BaaS).