The importance of blockchain is growing every day. Blockchain first appeared as Bitcoin in 2009, but it is now a widely used technology. Today, blockchain technology is used for many other purposes besides bitcoin. It is utilized in a variety of domains, including supply chains, logistics, healthcare technology, and many more. It was created with the intention of establishing effective and open business processes. Experts predict that by 2025, the market for blockchain technology would be worth 39.7 billion USD. The demand for blockchain systems is rising as a result of this extraordinary growth. The top 10 blockchain platforms will be covered in this article so you may use them to develop a blockchain-based ecosystem quickly and effectively.
What you need to know about a blockchain platform
Blockchain platforms are entities with complex and powerful scripting languages that may be used to generate and administer a variety of Web3 tasks, such as but not limited to NFTs, the beginning and completion of transactions, and the development of smart contracts. In reality, smart contracts are regarded as the first application of a blockchain platform other than a cryptocurrency, and that application was Ethereum.
As is the case with a number of cryptocurrencies, including Ethereum, Tron, Ripple, Stellar, Solana, and Polkadot, many blockchain platforms are the creations of and funded by nonprofit foundations.
Let's use a relevant example to better comprehend the blockchain platform's concept.
Let's say you plan to establish an NFT market. To make your NFT marketplace function, you will have to deal with a lot of complexity in front-end design, back-end development, and other blockchain-related development.
The development process will take longer if all of these tasks are undertaken from scratch. This is where the blockchain platform comes in handy because it makes it easier to get things done without having to start from zero.
In essence, the blockchain framework enables companies to utilize the software, infrastructure, and services already in place that are required to create a blockchain application.
Top Blockchains platforms that is a must know
Stellar
Stellar is a distributed blockchain-based ledger that makes it easier to move money between different types of assets. It can handle exchanges between cryptocurrencies and fiat currencies, much like Ripple can. Using the Stellar network, it is feasible to create mobile wallets, smart gadgets, and banking tools.
By using the Stellar Consensus Protocol (SCP), consensus can be reached without relying on a closed system for keeping track of financial transactions. SCP optimizes safety over liveness by stopping network growth until a consensus can be formed in the event of misbehaving nodes or partitions. SCP has a set of verifiable safety properties.
XDC Network
XDC Network, a ready hybrid enterprise blockchain for finance and international trade, combines the advantages of both public and private blockchains through cross-chain smart contracts. A decentralized, liquid network that makes use of interoperability is XDC. Instant trade transaction regulation supports digitization and tokenization, improving efficiency and reducing reliance on complex FX infrastructures.
An initial coin offering (ICO) that raised $15 million in March 2018 provided funds for the XDC platform. The XDC main net went live in June of the following year, becoming the first proof-of-stake (PoS)-based smart-contract blockchain. The XDC platform's native token is called XDC. Because XDC is EVM compliant, developers may easily and quickly deploy their Ethereum smart contracts on the XDC Blockchain.
Tron
Tron, a different decentralized blockchain platform, aims to create a decentralized web. Tron, like Ethereum, allows for the use of full protocols by developers via smart contracts on the blockchain. The majority of payment processors, like PayPal, can handle more than 2000 transactions per second using Tron. Furthermore, Tron doesn't charge for transactions.
Its great scalability, which enables it to support thousands of transactions per second, is Tron's key characteristic. With high-scale functionality in mind, Tron was built with the Delegated Proof of Stake consensus process for improved blockchain security. Setting up a DApp on the Tron network can be done in a number of ways. Tron is currently one of the public chains with the fastest growth.
The Tron network's success is mostly due to its high throughput, great scalability, and interoperability with the EVM (Ethereum Virtual Machine).
Etherium
The first decentralized blockchain platform to incorporate smart contracts capability to guarantee dependable operations is Ethereum, which was introduced in 2013. Its token Ether (ETH) now has the second-biggest market cap among cryptocurrencies and the largest market cap among Proof-of-Work (PoW) cryptocurrencies.
In addition, it supports a number of other token standards, including ERC-20 for Defi apps, ERC-721 and ERC-1155 for NFT projects, and ERC-777 for enhanced functionality.
More than 460,000 token contracts based on its ERC-20 token standard are currently hosted by it. Basic Attention Token (BAT), Tether (USDT), USD Coin (USDC), Chainlink (LINK), and Dai are some of the top cryptocurrency initiatives (DAI).
EOS
EOS is another scalable and safe blockchain system for creating dApps. Since EOS supports a number of features that neither Ethereum nor Bitcoin do, this platform can be thought of as an expanded version of those two blockchains.
EOS is a blockchain network that addresses scalability issues by allowing smart contracts, hosting for dApps and decentralized storage of commercial solutions. On EOS, you may develop a financial application that executes transactions more quickly. In accordance with business requirements, developers can also create executable smart contracts.
The EOS blockchain enables developers to construct a variety of apps on the blockchain network to further their notions. You can swiftly make modern business solutions, games, finance applications, and other things.
Hyperledger Fabric
The Linux Foundation developed the open-source blockchain platform known as Hyperledger Fabric. According to some, it is currently the second most popular platform, behind Ethereum.
This platform's key strength is its modular architecture, which enables building networks and applications on top of it simpler. "Chaincode" is another characteristic that distinguishes Hyperledger Fabric from other platforms.
Since this enables the creation of smart contracts for decentralized apps, several businesses are already making use of this platform.
Well-known organizations including Honeywell, Walmart, and Sony Global Education use this blockchain technology.
Cardano
Since Cardano was developed by Charles Hoskinson, an Ethereum co-founder, it has several characteristics in common with Ethereum.
The fact that Cardano already utilizes a PoS network gives it a significant advantage over Ethereum. Ethereum, on the other hand, has not yet switched from a PoW network to a PoS network. Cardano is now a blockchain platform that is quicker and more environmentally friendly than Ethereum.
Anyone could create and use their own smart contract with the recent Alonzo hard fork upgrade.
Cardano is focused on making it easy for developers to build scalable and dependable Cardano-powered applications while also allowing transactions in its native cryptocurrency, known as ADA.
Corda
With Corda's cutting-edge Blockchain technology, you may anticipate that a variety of processes will be carried out as easily and smoothly as possible. Because of its enhanced security features, Corda is very well-liked in the banking sector. In the fields of insurance, healthcare, capital markets, digital assets, digital identification, and government, it can be of enormous value.
It is unquestionably the best blockchain platform for enterprises because it is open-source and offers enormous flexibility. It can save a lot of time by tracking things. The nicest thing about Corda is that it is always getting better thanks to its extremely brilliant developer community.
Hyperledger Sawtooth
With its modular and adaptable architecture, Hyperledger Sawtooth isolates the application domain from the core system. Therefore, without knowing the underlying architecture of the core system, smart contracts can infer the business rules for applications. It supports many consensus techniques, such as Practical Byzantine Fault Tolerance and Proof of Elapsed Time (PoET) (PBFT).
It is a distributed ledger technology platform for businesses that are used to create distributed ledger networks and applications. It attempts to keep distributed ledgers and smart contracts secure, particularly for businesses. As developers may express business rules for their apps using the language of their choice, it streamlines the development of blockchain applications.
Conclusion
Different blockchain technologies exist. It implies that you must comprehend the platforms that work best for your company. They also offer a wide variety of languages, so you must once more choose the one that utilizes their preferred programming language. As blockchain usage and adoption increase, it is advisable to learn the technology and leverage it to propel your company to new heights of success.
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