Mapping Blockchain and Cryptocurrency Trends: A Qualitative Network Analysis
Keywords:
Blockchain Technology, Cryptocurrency, Decentralized Finance (DeFi), Non-Fungible Tokens (NFTs), Network AnalysisAbstract
Blockchain technology and cryptocurrencies are reshaping global finance, with significant implications for various sectors. Key trends such as DeFi, NFTs, and Layer 2 solutions are driving innovation, while regulatory engagement is increasing. This study aims to explore the interrelationships and emerging trends in the blockchain and cryptocurrency ecosystems, focusing on how DeFi, NFTs, and scalability solutions are transforming the industry. The study also seeks to understand the influence of regulatory bodies and traditional financial institutions on blockchain adoption. A qualitative network analysis using VOSviewer was conducted to visualize the relationships among key actors and trends in the blockchain ecosystem. Data was collected from primary sources (interviews, surveys), secondary data (industry reports), and social media. The analysis revealed that DeFi continues to dominate, reshaping traditional financial systems. NFTs are altering digital ownership, and Layer 2 solutions are addressing scalability challenges. Ethereum emerged as a central node in the ecosystem, facilitating DeFi and smart contracts. The increasing involvement of regulatory bodies and financial institutions signals blockchain’s integration into the global financial system. The future of blockchain will be shaped by the ongoing evolution of DeFi, NFTs, scalability solutions, and the regulatory landscape. Understanding these dynamics is crucial for stakeholders to leverage blockchain's full potential.
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