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Cryptocurrency — Technological Developments and Enterprise Adoption

Publisher IDC
Published Jan 31, 2023
Length 14 Pages
SKU # IDC17695334

Description

Cryptocurrency — Technological Developments and Enterprise Adoption

This IDC Perspective analyzes notable cryptocurrencies in the market through differences in their structure, product design, and technological underpinning. This report also explores notable developments around the cryptocurrency technology to overcome limitations prevalent in its legacy infrastructure and cater to the current and future requirements of the market. Further, the report charts enterprise adoption and crypto-driven product strategies across payments, lending, and corporate services."Despite downturns in the overall cryptocurrency market, we are seeing genuine interest from enterprises and businesses to continue adopting crypto as an alternative payment method and as a medium of value transfer being embedded in their operations," said Muhammad Adam Kamarul Zaman, market analyst, IDC Financial Insights Asia/Pacific. "The regulatory shifts worldwide and the continuing technological innovation in cryptocurrency present a big opportunity for the creation of the next-generation financial ecosystem, business models, and institutional partnerships," he added.

Please Note: Extended description available upon request.

Table of Contents

14 Pages
Executive Snapshot
Situation Overview
Notable Cryptocurrencies
AAVE
Bitcoin
Ether
Ripple
Solana
USD Coin
Notable Technology Developments
Improvements in Consensus Mechanisms
Efficiency
Layer 2 Payment Protocols and Lightning Networks
Ethereum Sharding
Revamping the Blockchain
Embedded Compliance
Exchanges
Issuer Access Denial
Validators' Denial
Ideals in the Cryptocurrency Ecosystem: Transparency and Market Resilience
Proof of Reserves
Backstop Mechanism
Assessing Cryptocurrency Adoptions
Retail Payments
Online Payments
Payments App
Centralized Finance Players' Issued Cards
Enterprise Payments
Business Payments
On-Demand Liquidity
Corporate Services
Payments Management
Custodian Services
Lending
Credit Card
Traditional Financing
Scoring Based on Blockchain Data
Central Bank Digital Currencies
Advice for the Technology Buyer
Learn More
Related Research
Synopsis

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