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Blockchain Market Share, Size, Key Players, Research and
Forecasts to 2025 | Hexa Research
“The global blockchain market is estimated to witness a
strong growth over the forecast period. ”
27 December 2018
The global blockchain market is estimated to witness a strong growth over the forecast period (from 2017 to
2025) on account of rising need for fast, secure, and efficient management of data and financial transactions.
Increasing cases of bank frauds and continual R&D activities to explore potential of blockchain technology
can also propel its adoption among various sectors, thereby boosting the market development in the coming
years. Blockchain is a database, or distributed ledger, shared across private or public computing network.
Each computer device in the network holds a copy of ledger to avoid any failure. All the information is
encrypted and added as new block to the chain of historical records. These new blocks can be validated using
consensus protocols before being added to the chain. These ledgers are programmed with “smart cont racts”,
a set of conditions, which trigger transactions automatically.
Blockchain technology came into limelight with the advent of cryptocurrencies like Bitcoin and Ethereum.
Cryptocurrencies are an electronic cash system that uses peer to peer network to avoid duplicate payments.
It is a decentralized system having no central or server authority. Financial services, government, healthcare,
retail, and travel and hospitality are some of the major application areas for the technology. Since the origin
of bitcoin, blockchain has impacted the financial service sector. The technology simplifies the process of asset
management and payments through autonomous trade lifecycle where all the participants have access to
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