The fear of the unknown and the fear of missing out is seen among several entrepreneurs who are venturing into the blockchain technology industry.
Competitor marketing teams are advertising blockchain technology as a part of their protocol. And, consumers in several sectors are requesting blockchain solutions. Enterprises are sensing the importance of adopting the blockchain technology. XinFin helps enterprises to execute customizable dApps for their enterprise thereby sustaining the startup on their blockchain journey.
One major challenge with blockchain technology is that when it comes to larger scales, this technology might not be able to do it as fast. There needs to be an API to help this technology work quickly. It is not possible to get the best value out of the blockchain technology without API.
In the absence of an interface, technology will be applicable only to a small niche. Thus only a few people will be able to adopt it. We need to have an API in place to help more people to consume this technology.
Blockchain technology, of course, is not just one type. There are many types. However, when it comes to generating broader results, we need to get past the hype phase. And another thing that is important is the security factor. Security can suffer when small mistakes are left unnoticed.
So, we need developers like XinFin and several other dedicated developers who design products properly without compromising on the security factor.
When it comes to industrial application, it is important to get the applications working on a larger scale with practical speed. The existing technology is not practical for high-performance. Down the path, enterprises need to learn enough before putting the technology to practical use.
Developers do the job of analyzing the level at which the performance should be delivered. They know when it is ready for use. Anything that is out there is not really ready for use until it has been customized and the grounds have been tested.
With several countries trying to lead the push towards using blockchain technology, the interest level shown by enterprises is also at an all-time high. While the fear of missing out is always there, some enterprises are seriously venturing to use this technology after establishing a detailed understanding of the technology.
Persistent partnerships are developing dApps with a clear understanding of what they can hope and what they cannot really do with the technology. So, enterprises know what they are buying in to. They are not ready to invest into fancy names, and with blockchain, they are venturing with a clear understanding of where they stand.