Given the wide array of platforms on offer, it can be difficult keeping track of the latest and greatest blockchain technologies.
Here, FinTech Magazine counts down the top 10 blockchain platforms.
10. ConsenSys Quorum
Consensys Quorum is an open-source protocol layer building on the success of decentralised Ethereum.
All it takes to connect to the Ehereum network is an Ethereum client.
Consensys Quorum offers two clients in the form of Hyperledger Besu for use with either public Ethereum or permissioned networks, and GoQuorum for permissioned networks.
The company’s mission? To build breakthrough crypto solutions for a world without economic borders.
In contrast to traditional blockchain mining, Ripple employs a consensus mechanism involving a network of servers owned by banks to validate transactions.
8. Hyperledger Fabric
It allows interchangeable components, including consensus and membership services, enabling a plug-and-play environment.
Designed to meet diverse industry needs, Hyperledger Fabric offers a unique approach to consensus that facilitates scalable performance while maintaining privacy.
It was initially engineered to meet the needs of customers who are operating at scale in regulated environments.
Corda delivers on R3’s promise of enabling an open, trusted and connected “network of networks” in high-performance, regulated markets.
EOSIO is one of the major open-source platforms for blockchain innovation and performance, and is based on the cryptocurrency EOS.
Businesses and developers around the world are using the platform to create secure, transparent and deterministic digital infrastructures.
Billed as fast, flexible and forward-driven, EOSIO is providing industry-leading transaction speeds and a block time latency rate of less than a second. It can handle a large number of transactions through parallel processing and asynchronous communication between nodes.
Founded in 2017 by Justin Sun, TRON is “dedicated to the decentralisation of the internet via blockchain technology and decentralised applications”.
The TRON network has continued to deliver impressive achievements since mainnet launch in May 2018. Just two months later came the acquisition and ecosystem integration of BitTorrent, a pioneer in decentralised services boasting almost 100 million monthly active users.
In recent years, traction has gained to the extent that TRON has more than 206 million users on the blockchain and upwards of seven billion transactions.
By integrating a robust, decentralised blockchain network with a worldwide community of innovators, Steller is furnishing builders with the means to unleash human and economic potential.
This, in turn, generates opportunities that transcend borders and equips individuals with the tools to develop innovative digital asset products and services, ultimately improving access to the global financial system.
Steller bills itself as being faster, cheaper and more energy-efficient than most other blockchain-based systems.
Backed by a worldwide community of validators, researchers and developers, Tezos is an open-source blockchain protocol designed for assets and applications.
It was created specifically for the streamlining of formal verification, a method of boosting the security of critical or financially significant smart contracts by mathematically validating the accuracy of the code governing transactions.
The Tezos protocol is constructed to be secure, upgradeable and durable.
Users can directly and frictionlessly interface with each other over a decentralised network, interacting with various applications without the need for intermediaries.
2. IBM Blockchain
IBM Blockchain, a fully-integrated, enterprise-ready platform, is aimed at simplifying the development, governance and operation of a multi-institutional business network.
Key benefits include optimised multi-party workflows around trusted, permissioned data and accelerated performance across the value chain with blockchain applications.
Firms can also streamline shared processes, increase accountability, minimise disputes and automate reconciliation tasks.
What’s more, IBM Blockchain can facilitate increased brand trust and sales with smart contracts that support product authenticity and help open new marketplaces through asset tokenisation.
Launched by Vitalik Buterin back in 2013, the Ethereum platform and programming language makes it possible for any developer to build and publish next-generation decentralised applications onto it, which other users can interact with.
It can be used to codify, decentralise, secure and trade almost anything, from domain names and financial exchanges to contracts and agreements.
Keen to operate in a sustainable fashion, Ethereum transitioned from a proof-of-stake algorithm to proof-of-work in a process known as ‘The Merge’, which reportedly cut its energy usage by up to 99%.
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