Blockchain is a distributed ledger technology that has the potential to transform the way enterprises, governments, and consumers exchange data. By eliminating the need for a central authority, blockchain technology simplifies transactions, mitigates transaction risk, and increases both efficiency and transparency. According to a report by Transparency Market Research, the global blockchain technology market is projected to rise to $20 billion by 2024, up from $315.9 million in 2015.
There are a number of different industries taking a serious look at blockchain to improve transparency and trust amongst internal or external entities, including financial services, health care, retail, supply chain and logistics, and media and entertainment. The technology holds great promise to support and enable visibility across diverse markets through the ledger, its settlement mechanisms, and smart contract protocols. However, the one area that tends to not receive a lot of attention is the requirements of data centers to support blockchain infrastructure, especially in view of the continuous demand from transaction settlements.