At least 300 million people globally have used blockchain technology directly or indirectly at one point in their lives. 

With its growing presence, we could not help but wonder how many blockchains there are in 2024.

If you want to know the answer and other exciting facts about blockchain technology, keep reading. 

How Many Blockchains Are There in 2024?

For those who want to know just how many blockchains exist in 2024, the answer is over 1,000!

At least a thousand blockchains of different types are currently in circulation. 

There are four types of blockchains: public, private, consortium, and permissioned. Each appeals to a different clientele, depending on their needs and requirements. 

Global blockchain spending is forecasted to record a 46.40% compounding annual growth rate by 2024.

This simply means that we will welcome new innovations in the industry in the coming years as companies try to get their share of this growing market. 

Four Types of Blockchains

Blockchain

Now that we know how many blockchains are there, it is time we get in-depth into the different types. 

  • Public Blockchain Network  – as the word ‘public’ suggests, this type of blockchain is accessible to the general public view. All transactions sent and received on this platform are validated through a consensus process and added to a chain of blocks thereafter. Although public blockchain networks are generally safe, there is little to no privacy when it comes to transactions which makes it easier to track and trace. 
  • Private Blockchain Network – this type of blockchain requires a central figure that gives authority to participants to join. Decentralization remains a huge part of the network although at a minimal level. Entry is by invitation only and generates lesser energy consumption compared to public blockchains as consensus is limited to fewer participants.
  • Consortium Blockchain Network – is another blockchain type that is participated by a consortium of organizations rather than the public or a single-entity corporation. This means it is more decentralized than a public blockchain but not on the same level as a public one. 
  • Permissioned Blockchain Network – can be either a public or a private blockchain network requiring permission before access. 

Most Popular Blockchain Networks

Take a look at this data on the most popular blockchains used by the world’s Top 100 public companies. As you can observe, Ethereum ranks only second to Hyperledger Fabric when it comes to the number of users. 

  • Hyperledger Fabric – 26 companies in the 100 biggest public companies in the world use this blockchain network
  • Ethereum – 18 companies in the 100 biggest public companies in the world use this blockchain network
  • Quorum – 11 companies in the 100 biggest public companies in the world use this blockchain network
  • Corda – 8 companies in the 100 biggest public companies in the world use this blockchain network
  • Mediledger – 3 companies in the 100 biggest public companies in the world use this blockchain network
  • AxCore – 3 companies in the 100 biggest public companies in the world use this blockchain network
  • Other – 12 companies in the 100 biggest public companies in the world use other blockchain networks aside from those mentioned above

81% of the Top 100 Public Companies Use Blockchain 

An estimated 81% of the world’s Top 100 public companies are in the process of incorporating blockchain technology into their operations. 

65% of these companies are already in the implementation stage, meaning they have past gone the research and development stages.

Top Companies and Their Preferred Blockchain Networks 

Below is a piece of information on the world’s biggest companies and the blockchain network they currently use. 

  • Adobe – this company uses the Ethereum blockchain network 
  • Allianz – this company uses both the Hyperledger Fabric and Corda blockchain networks
  • Andreessen Horowitz – this company uses Bitcoin, Ethereum, Solana, Flow, Celo, Near Protocol, and Arweave blockchain networks
  • AntGroup – this company uses the Antchain blockchain network
  • Anthem – this company uses the Hyperledger Fabric blockchain network
  • Aon – this company uses the Corda blockchain network
  • A.P. Moller Maersk – this company uses the Hyperledger Fabric and TradeLens blockchain networks
  • Baidu – this company uses the XuperChain blockchain network
  • Block – this company uses the Bitcoin blockchain network

Use Cases of Blockchain Networks 

Blockchain networks see a steady rise in their adoption rates due to their many real-world use cases. Here are some of the most prominent blockchain use cases today. 

  • Digital currency – 33% of all blockchain users leverage blockchain networks for this use case
  • Data access and sharing – 32% of all blockchain users leverage blockchain networks for this use case
  • Data reconciliation – 31% of all blockchain users leverage blockchain networks for this use case
  • Identity protection – 31% of all blockchain users leverage blockchain networks for this use case
  • Payments – 30% of all blockchain users leverage blockchain networks for this use case
  • Tracking and tracing – 27% of all blockchain users leverage blockchain networks for this use case
  • Asset protection – 27% of all blockchain users leverage blockchain networks for this use case
  • Asset transfer – 25% of all blockchain users leverage blockchain networks for this use case
  • Certification – 23% of all blockchain users leverage blockchain networks for this use case
  • Record reconciliation – 23% of all blockchain users leverage blockchain networks for this use case

Biggest Blockchain Solution Spenders by Region

Blockchain

In 2022, the United States topped the list as the world’s biggest blockchain solutions spender. Western Europe, Asia Pacific, and China also topped the list. 

  • United States – the region spent $4.2 billion on blockchain solutions in 2022
  • Western Europe – the region spent $2.9 billion on blockchain solutions in 2022
  • China – the region spent $1.4billion on blockchain solutions in 2022
  • Asia Pacific and Japan – the region spent $750,000 million on blockchain solutions in 2022
  • Middle East and Africa – the region spent $500,000 million on blockchain solutions in 2022
  • Other parts of the world – spent $1.9 billion on blockchain solutions in 2022

Conclusion

There are currently over a thousand blockchains in circulation. These are divided into four types namely public, private, consortium, and permissioned. 

The world’s 100 biggest public companies peruse Hyperledger Fabric and Ethereum in their operations. Other popular blockchain networks among institutions are Bitcoin and Corda.

Sources

CointelegraphZippiaDemandsage
FinancesonlineInvestopediaForbes
CoindeskBuiltinBlog Fasset
KriptomatCNBCTV18