3 Ways in Which Blockchain is Becoming More Enterprise-Friendly

Imagine you're a C-level exec of a multinational enterprise. You're considering adopting blockchain for global logistics, with goods being tracked onchain as they pass from source to store. Which blockchain do you choose?

Even for those raised in the crypto trenches, that's a question which isn't easily answered. In the multichain era, there is a panoply of choice that could take aeons to fully appraise. Do you go public or private chain? L1 or L2? Blockchain or DAG? Scaling supplied onchain or off? Modular or bespoke? Do you need offchain computation? What about data storage? And we've not even scratched the surface.

Decisions, Decisions…

One wouldn't expect business bosses to be conversant in the lingua franca of blockchain – that's what advisors are for. Nevertheless, even pondering the question of which blockchain solution is most enterprise-friendly shows how far the industry has come in five years. Back in 2017, Ethereum was the only serious public chain being considered for enterprise pilot schemes, before its scaling problems came to a head and the need for less crowded pastures became evident.

Today the reverse is true: there are blockchains with their own blockchains, parachains, sidechains, sister chains, and third-cousin-once-removed chains. Blockchains are everywhere, but one thing that's conspicuously absent is a glut of businesses using them. Nevertheless, when you zoom out and examine the evolution of blockchain over the last few years, it's clear that the tech is becoming more suitable for enterprise adoption. Overwhelming choice is just one example of how blockchain has evolved to appeal to businesses of all strands.

Scalability as a Service

One of the clearest differentiators between blockchain then and blockchain now is that today's chains scale straight out the box: no plugins, upgrades, or add-ons needed. As a case in point, COTI Network's recent upgrade to DAG-style blockchain has equipped it to handle 100,000 TPS, placing it on a par with the fastest fiat payment systems. Its MultiDAG 2.0 is designed for fintechs wanting the benefits of blockchain – global distribution, transparency, and no central point of control – without the downsides: slow block times, high network fees and uncertainty of access.

There probably won't be many crypto devs spinning up dubious ponzi dApps or memecoin farms on COTI, but that's for the best. Giving enterprises networks designed with B2B rather than retail in mind makes much more sense than trying to squeeze everything onto Ethereum. Expect this trend to continue as blockchain further balkanizes, endowing enterprises with tailor-made solutions that feel as fast and accessible as anything web2 can do.

Plug and Play Design

The modularity of modern blockchains means that enterprises don't need to hire an entire army of devs just go get onchain and in the game. Applications that once required weeks of coding can now be assembled in a few hours using pre-designed modules of code. These libraries cover common blockchain applications such as APIs, wallets, DEXs, and smart contracts. From Polkadot to Aptos and Avalanche to IBM, blockchains are now easier to enter. Less time spent writing custom code means more time that can be dedicated to onboarding partners and refining UI.

As blockchain has become commoditized, it's become much easier for SMEs to gain exposure to the technology. Something which once required hundreds of thousands of dollars and significant lead time to access can be tapped into on demand at negligible cost. While the tech has matured and the viable solutions have multiplied, there's still work to be done in convincing enterprises of the value of blockchain. Until more major players enter the scene and make it a cornerstone of their tech strategy, no amount of throughput will onboard enterprises in their droves. That will take time and the maturation of what is still regarded as an emerging technology.