Sustainability of Blockchain Projects depend largely on Team Ethics and Vision

Blockchain is a provable technology, and this makes the evidence of sustainability of any blockchain project only a matter of time. There are a number of factors that are usually considered by investors and product consumers before making their decisions. These factors are measurable qualities that have shown reasonable consistency in qualifying emerging projects, especially in the blockchain ecosystem.

Growing interest in blockchain

Both investors and users who show interest in blockchain products are advised to consider a number of indices before summarizing the extent of adoption. Some of these indices includes the quality of the team behind such innovations, their history and past involvements, the use case applicability of products among other factors.

Blockchain is one of the hottest topics discussed in the cyberspace and technological atmosphere as a whole. The blockchain technology market is forecast to reach $7.74 Billion by 2024. Over 90% of major North America and European banks are already exploring the emerging technology, scrutinizing major products and not hesitating to expose faulty creations.

Therefore for blockchain development companies like Jelurida surviving the critical past few years of the industry and still thriving is a sign of significant robustness.

Jelurida, a development company that has created a couple of blockchain products like Ardor, Nxt and Ignis represents a typical example of the sustainable nucleus of blockchain enterprise. Beyond the primary solutions that these products bring to the ecosystem, to have thrived on all fronts within the past few years where so many projects have fallen by the wayside places Jelurida up there with the likes of Bitcoin and Ethereum.

Solid blockchain platforms

Blockchains are largely independent technologies and based on their use cases there is usually no limit to the extent of growth of any particular blockchain. For instance, the Ardor platform addresses issues of blockchain bloat, scalability and versatility. Ardor is being designed as a complete ecosystem where multiple players can interact with each other without needing to go outside the platform.

It also solves the problem of having to store and process large amounts of non-essential long term data in the blockchain, by separating the tokens providing blockchain security from those used for regular transactions. Just like Nxt, Ardor is also designed to run as public open source software that will also be available for commercial licensing.

Resilience and professionalism

The decentralized and unregulated nature of the blockchain and ICO ecosystem makes it easy for projects to be abandoned quite irresponsibly. This is evident with the litany of failed and abandoned ICOs that attracted the attention of governments and institutions. Such cases have been the reason behind the various bans and stringent measures prescribed by governments like China and even the US. However, despite the early challenges of a not so successful ICO in 2013, the fact that the Nxt project carries on and has since become a stable blockchain with numerous features establishes the resilience and professionalism of Jelurida.

With Ardor being introduced into the ecosystem and operating on a Blockchain-as-a-Service (BaaS) model, the platform will support many use cases and make it easy for anyone to get into the blockchain space, while also allowing developers to build their own solutions on top of it. Hence, as already mentioned above, every product is as good and sustainable as the team behind it.

Publication date: 
03/15/2018 - 16:15