What 2023 Means for Blockchain Technology
A lot of things tend to be interwoven with blockchain’s role in providing the P2P model for financial transactions and more. Such things include cryptocurrencies, NFTs, and much more.
Taking a closer look at some of the blockchain trends and predictions for 2023 is crucial for evaluating how blockchain and its relevant applications might evolve in the future. Unfortunately, 2022 was the year when the landscape underwent a rather turbulent phase, with many prominent projects declaring bankruptcy. For instance, a reduction in NFT valuation and token prices, along with the radical growth pertaining to trading pattern volatility, may likely affect blockchain applications this year. However, it should be noted that the underlying causes of cryptocurrency’s unfortunate state in 2022 had nothing to do with blockchain or cryptocurrencies in and of themselves. Rather, it was user error, fraudulent activity, and unhealthy risk-taking that served as the primary factors that eventually led to investors losing billions of dollars…
