✅ Huobi Academy of Blockchain Application, the research arm of Huobi Pro, has just completed its H1 2018 Global Blockchain Industry Overview and Prospects report and it was astounding. The report consists of in-depth information about the crypto asset market, crypto market regulation, the Blockchain industry and technology. In this 4 part Sneak Peek I will highlight some of the information in the Report. This fourth part is about the 5 different Blockchain industry layers. Attendees of Blockchain Festival will have early access to the full report.
✅ What are The Blockchain Industry can be divided into 5 major segments:
➡️ Hardware and infrastructure layer
➡️ Platform layer
➡️ Middle layer
➡️ Service layer
➡️ Application layer
✅ The hardware and infrastructure layer consists of Chip Manufacturers, Mining hardware Producers and Mining Pools. These participants are providing and integrating hash power and hardware support to the Blockchain systems.
Projects that use the PoW consensus mechanism like Bitcoin are compatible with mining hardware. Professional mining companies usually use ASIC chips instead of GPUs. The reason is that ASIC chips have a higher computational efficiency compared to GPUs. The downside of ASIC miners are they can only be used for a specific algorithm, like sha-256 (for Bitcoin), Scrypt (for Litecoin) or X11 (for Dash) and they consume a large amount of electricity.
🔮 According to the report the future of mining should look like this:
👀 This is a sneak peak, unfortunately I can’t tell you everything.
Projects in the hardware infrastructure layer:
✅ Platform layer provides development on the underlaying architecture for blockchain applications. A blockchain platform is the bases for blockchain applications. According to Huobi Research there are at least dozens of Blockchain platforms at the moment, making this space very crowded.
🔮 This space is to be expected to have the following developments:
➡️ The cross-chain interoperability becomes important to have a successful Blockchain
➡️ Performance is no longer the main criteria, developer-friendly will become more demanding
➡️ Blockchain platforms for specific use-cases will emerge
Blockchain projects in the Platform layer:
✅ The middle layer is a solution to making blockchain applications easier to deploy and be used by developers and users.
The middle layers main purpose is to add vertical Blockchain applications to meet the common needs like distributed storage, decentralized data services, code audits, encryption services and others. Huobi Research also gives some references to how they perceive the future of the middle layer.
Blockchain projects in the middle layer:
✅ In the service layer we will find companies like digital asset exchanges, media outlets, cryptocurrency market analyses platforms, and cryptocurrency wallet providers.
🔮What will the future hold for the service providers according to Huobi Research:
➡️ Centralized and decentralized exchanges will co-exist
➡️ Market quotes and information providers cab provide aggregated trading services
➡️ Crypto asset wallets may very well become the entry point to distributed applications in the long run
Projects in this sector are:
✅ The application layer can be used across various industries and it serves end users.
The application layer is especially useful in the following areas:
➡️ Payment and clearing applications. Blockchain solves a pain point by eliminating intermediaries, have no border limitations and utilizing the distributed ledger technology to boost up the efficiency of clearing.
Major projects in this sector are:
➡️ Securities, commercial notes and alternative applications.
By the creation of blockchain projects and its consensus mechanism that validates information a trustless environment is created with valid information, complete and free from manipulation. This gives blockchain applications In the security market an advantage opposite to regular decentralized companies that use third parties.
Some projects in this industry:
➡️ Healthcare applications.
The Blockchain technology that can be applied in the Healthcare industry is the implementation of electronic medical records, remote medical diagnoses and medical insurance. Blockchain projects that focus on Heathcare are:
These are just a few highlights of the Global Blockchain Industry Developments Report by Huobi. The full report is extensive and has lots of valuable information. If you’d like to have access to it before the masses, then you should visit Blockchain Festival in Vietnam, because attendees will be the first ones that get access to this report with lots of valuable insights.
✅ Hubery Yuan, Dean of Huobi Academy of Blockchain Application and Author of this Overview Report will be attending Blockchain Festival and will give a presentation as a VIP Speaker about the report. You will also have the opportunity to ask questions.
✅ On 24th — 25th May 2018 Blockchain Festival will be held in Ho Chi Minh City, Vietnam. Tickets can be purchased HERE. This Blockchain event, organized by Huobi Pro and co-hosted by Kyber Network, will feature world-class leaders, project founders, developers, tech-teams, investors, traders and other blockchain enthusiasts.
Speakers of Blockchain Festival are:
➡️ Roy Li, Founder and CEO of RuffChain (Microsoft accelerator project endorsed by NEO)
➡️ Val Yap, Founder and CEO of Policy Pal (Insurance on the Blockchain)
➡️ Vuong Quang Long, Founder and CEO of Tomochain (high-performance Blockchain)
➡️ Alex Tuan Co, CTO and Co-Founder of BigBom ECO (advertising disrupter in ICO stage)
➡️ Larry Liu, Founder of Genaro Network (decentralized storage network on the Blockchain)
➡️ James Ahn, CEO of Edenchain (Promising South-Korean Blockchain and Dapp platform)
Join Huobi Pro at their biggest event, Blockchain Festival Vietnam!
Date: 24 - 25 May 2018
Location: GEM Center, Vietnam, Ho Chi Minh City
Speakers: 30+ including 4 mystery speakers
Exhibitors: 40+
Participants: 1,600+
Use Discount Code: WRITE50 to get 50% off your ticket price. This will reduce the original ticket price to around $35. Also VIP tickets available. Students and Professors can obtain free tickets to the event.
Maybe you can even earn back your ticket with the Airdrop to participants at the venue.
🔍 🧐 Let’s find those airdrops.
Credits go to the Authors of the Global Blockchain Industry Overview and Prospects Report (2018 H1).
Hubery Yuan
Bonna Zhu
Xiao Xiao
Dazhi Guo
If you have any questions about the report 📧: [email protected]
Subscribe to my channels Steemit, Medium and Twitter if you would like to be informed about Blockchain en cryptocurrency news.
My handle is @LindaCrypto for all channels.
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LindaCrypto
Nice work, do you think there is some crossover in functionality compared to OSI layers since they are all strictly layer 7
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