Financing For Blockchain Companies up by 79% this year
This year so far there has been a significant increase in funding for blockchain companies. It has increased by 79% this year (2020) compared to that of last year (2019).
The cryptocurrency industry has undoubtedly been growing over the past few years, particularly after the market development of 2017.
The basic technology behind cryptocurrencies – blockchain (or distributed ledger) has become increasingly attractive to a wide range of companies for a variety of reasons. News recently reported that tech mogul IBM has partnered with the Bank of Thailand and issued the first Government savings bond on the blockchain.
Recent findings show that the revenue of blockchain companies has increased by 79% this year, and there are many reasons for that.
What’s so significant about blockchain?
Blockchain technology brings several pillars that many companies want to use.
This allows for applications where management is focused on the user community and not on a single organization or entity.
This quickly meets another major advantage of blockchain-based solutions – security. Distributed ledgers rely heavily on bets to achieve information security and use cryptographic hashing functions.
Hashing is a process in which an algorithm detects a certain amount of data and returns a result of an unexpected and consistent size. This plays a major role in blockchain technology security.
Another important factor to consider is openness (open source). Of course, that is true of social blockchains where anyone can join a network and view the information stored on it. That is true of the Bitcoin network.
As in every new industry, there are many companies that have just started. In fact, the data shows that there are more than 3,000 blockchain startups currently listed on Angel – one of the most popular first-line connectors.
And you should know that there are many burning companies that have become full-fledged companies with a large number of employees and locations around the world. Bitdenex is also the growing crypto currency exchange. The company started operating in 2019 and has a reliable and easy to use trading platform. All you need is an account for trading and the registration process is very simple if you use Bitdenex, the process of trading on this platform is handled extremely intuitively. If you don’t have a Bitdenex account yet? You can start here.