Top 10 Blockchain Platforms You Need To Know About

Blockchain is becoming important day by day. In the year 2009, blockchain emerged as Bitcoin, but now it has become a mainstream technology. Nowadays, blockchain has various working functionality apart from bitcoin. It is being used in industries, healthcare technology, supply chain, logistics, and many other technology fields. It was designed and developed to create efficient and transparent business processes. According to experts, the blockchain market size is expected to grow 39.7 billion USD in 2025. This tremendous growth makes the increasing need for blockchain platforms. Here we will discuss the 10 best blockchain platforms to use and to build a blockchain embedded ecosystem surely and quickly.



 Top 10 Blockchain Platforms

  • IBM Blockchain: 

IBM is the pioneer company to use blockchain for creating efficient and transparent business operations. The blockchain platform of IBM is a popular platform to use. This platform provides a managed and full-stack blockchain-as-a-service offering that allows users to deploy their blockchain components in a user choice environment. Users can create, use, and grow their blockchain network by using this IBM blockchain platform.

Key feature:

  • It provides a 30 days free trial for users.
  • It is connected to the free IBM cloud Kubernetes cluster.
  • It is an open-source and community-based platform.
  • It offers a permission network.
  • This platform supports Go and Java programming languages.

 

  • Tron:

     Tron is known as an operating system that is based on Blockchain. It mainly allows users to build decentralized apps and exchange media assets. The TRX currency is being used to obtain access to specific operating software functionalities. As a result, the token’s primary function is to be used on the Tron platform. Tron was created with one particular goal: to assist content producers in getting better compensated for their labor. The platform is based on a few ideas; one of them is that all information on the forum is open and not under the jurisdiction of central power. Content providers can be rewarded with digital assets, like the TRX currency or other currencies backed by TRX, in exchange for their work.

 

Key features:

  • This platform is a high-performance one, and it can handle 2000 transactions per second.
  • It provides high scalability and throughput to users.
  • It has Multi-language extension functionality.
  • It has the advantage of eliminating counterfeit chains.

 

  • Steller: 

Stellar is a digital currency technology-based payment protocol.  It handles millions of transactions every day. It enables cross-border payments between any two currencies in a matter of seconds. It resembles other blockchain-based coins in several aspects. On the other hand, Stellar.org, or perhaps the Stellar Development Foundation, is just a non-profit organization dedicated to financial inclusion, tool advancement, and social projects in the Stellar system.  The stellar staff produces programming for the Stellar network. However, the software is separate from the company. It also provides the benefits of creation, trading, and sending digital representations of all forms of money, like, dollars, bitcoin, pesos, and much more. The public owns this blockchain platform because a transaction’s basic charge on the Stellar platform is a small fee connected with every transaction execution. This charge is not intended to generate a profit. It serves as a deterrence to malicious behavior.

Key features:

  • This platform has a decentralized and open database.
  • It takes only 2-3 seconds for confirmation of transactions.
  • Steller allows multi signatures and smart contracts.
  • It has a fixed 1% of annual inflation.

 

  • Tezos: 

Tezos founded by Arthur Breitman and Kathleen Breitman. It is designed to provide safe and correctness of code for digital assets and high-value cases. It an open-source blockchain platform that is used across the globe for creating a decentralized blockchain network. It performs the peer-peer transaction and can deploy intelligent contacts. It is a self-governing blockchain platform. The self-amending cryptographic mechanism of Tezos is different, and this feature makes it unique from all other blockchain platforms.

Key factors:

  • It works on the self-amendment protocol.
  • It gives delegated proof of stake consensus mechanism and on-chain governance.
  • It has smart contracts and formal verification.

 

  • Corda: 

Corda is widely known as a business-oriented open-source blockchain initiative.  Corda can create interconnected blockchain systems that enable transactions to be carried out safely and confidentially. It’s an innovative contract platform. It allows firms to deal seamlessly with one another. It permits companies to keep track of transaction operations in a shared ledger, eliminating the requirement for participating individuals to double-check their transactions after engaging with one another. It is mainly used in sectors like construction, health, and finance. 

Key features:

  • It provides better security.
  • This platform is agile and flexible.
  • It is an open-source blockchain platform that allows open design and development processes.

 

  • Ethereum: 

Ethereum, also known as ETH, is a leading blockchain platform these days. It allows users to create new financial applications, decentralize markets, make games, cryptocurrency wallets, and much more. The main aim of this platform is to nullify the third parties’ access who save data for further financial instrument tracking. Ethereum has the largest community of core protocol developers, crypto-economic researchers, cypherpunks, and mining organizations.

Key features:

  • This platform gives the advantage of rapid deployment.
  • It has Smart Contracts Functionality and Turing completeness.
  • It provides the feature of tokenization.
  • It is a proof-to-work-based system.
  • Supports Python and c++ programming languages.

 

  • Multichain: 

MultiChain is a version of Bitcoin that is open source. It is simple to operate and may be used to create customized blockchains, both private and open. It comes with a carefully chosen mix of functionality plus enhancements aimed at the enterprise and commercial users. Compatibility for local assets and the storing of more significant amounts of random information appear to be promising. Consensus-based permit administration for consortial blockchains is an alternative but distinctive solution. The chain could be customized by amending a straightforward text file prepared by multichain-util; this should be achieved before executing multichain for the first moment, as parameters cannot be altered after the network has been completely established.

Key feature:

  • It has enormous tracked and verified assets on the blockchain, which can be used to perform safe multi-asset and multi-party transactions.
  • It is ideal for data streaming, data sharing, timestamping, and encrypted archiving.
  • It follows Github.
  • Supports c, c++, Python, and JavaScript programming language.

 

  • EOS: 

EOS is a well-known blockchain platform. It is used to design and develop scalable and secure applications. It provides the user dApps’ hosting and smart contracts capability. It also provides the decentralized storage of enterprise solutions which helps the user to solve the scalability issues faced by Ethereum or Bitcoin.

Key features:

  • It provides better usability and governance.
  • It supports multiprocessing.
  • This platform provides flexibility, measurability, and upgradability to users.
  • It has a permission schema.

 

  • Hyperledger Fabric: 

It is a platform that is used to create applications and solutions using a modular architecture. It has a membership service and consensus. It includes a wide range of modular and versatile designs which can be used for various industrial uses. It can enable a network of networks. Members of the fabric network can use network work together in this platform. Hyperledger Fabric provides the user a secure and scalable platform to support their confidential contracts and private transactions.

Key features:

  • This platform is highly modular and has a low latency of finality.
  • It can support solidity and EVM.
  • It supports multi-language intelligent contracts.
  • It has pluggable consensus and queryable data.

 

  • Open-chain: 

It is an open-source blockchain platform. It is designed to manage digital assets in a secure, robust, and scalable manner. It uses Partitioned Consensus, and every instance of it has a single authority for valid transactions. This platform is designed based on client-server architecture, which makes it more efficient and reliable. No miner involvement exists in this platform, so the open-chain blockchain platform gives direct, accessible, and instant transactions.

Key features:

  • It has a modular design and allows free transactions.
  • It is highly scalable.
  • The gateways create 2-way pegging.
  • It has intelligent contracts functionality and a unified API.

 

  • Quorum:

From 2015, Quorum has been established by J.P. Morgan using Ethereum to manage use-cases demanding high-speed as well as rising execution of confidential transactions with a highly secure community of people. Quorum is built to grow and improve in tandem with Ethereum. It doesn’t employ the Proof of Work (PoW) consensus mechanism, instead of relying on vote-based and other techniques to execute thousands of operations per second, according to how smart contracts and other networks are set up. Quorum can handle the bulk of Ethereum changes swiftly and efficiently since it only alters Ethereum’s core to a limited extent.  

Key features :

  • Can swiftly handle tones of Ethereum changes.
  • Working is quite efficient. 

 

  • Hyperledger Sawtooth:

Hyperledger Sawtooth is another open-source blockchain project co-founded by Hyperledger and the Linux Foundation, which employs an innovative consensus mechanism known as Proof of Elapsed Time. This new mechanism can be used in conjunction with hardware-based safety measures technologies to permit “trusted execution environments” of program code to execute in stable strongholds, encrypted spots of computer memory. 

According to Shawn Amundson, the most typical applications, the CTO of Bitwise IO and Hyperledger Sawtooth developer, include constructing supply chain operations and adapting Sawtooth for technical reasons, such as new consensus techniques. A Sawtooth Library is being developed, which will allow programmers of customized distributed ledgers to select and choose whatever parts of Sawtooth to employ in their applications. Sawtooth is also integrating Splinter for networking. This Splinter will allow dynamic private networks (a group of nodes); Hyperledger Transact for transactional execution, which will improve innovative contract features; plus Augrim for consensus, which will also increase the number of available algorithms.

Key features:

  • Allow users to use Sawtooth Library while coding. 
  • Provides Splinter for networks.

Importance of these blockchain platforms:

  1. Nowadays, the use of blockchain is increasing. Therefore, people need better and user-friendly platforms to use this new-age technology.
  2. The use and access of bitcoin are increasing rapidly. Many organizations are taking bitcoins as a means of transaction. These bitcoin users need secure and good platforms to access their bitcoin.
  3. The scope of blockchain is increasing every day. So more people are doing blockchain courses. However, these beginners need some excellent platform to start their blockchain journey.
  4. These platforms are well-known and professional platforms. All professionals and beginners can use these platforms.
  5. Since every transaction is encoded and connected to the initial transaction, blockchain is significantly more reliable than traditional logbook methods. This is because blockchain comprises a complex string of mathematical values that cannot be changed once created. The unchangeable and incorruptible characteristics of blockchain make it safer and protected against tampering and hacking data.
  6. Blockchain eliminates the requirement for intermediaries in many operations, such as transactions as well as real estate. Now, this is only possible due to its decentralized character. By facilitating P2P cross-border payments with a virtual currency, blockchain allows for speedier transactions than traditional financial institutions.
  7. Whenever a trade of items is documented on a Blockchain, an external audit is provided. This audit determines where the items arrived from, and all this is possible due to the blockchain ledger. This will assist exchange-related organizations in enhancing privacy and avoiding corruption, but it could also help confirm the legitimacy of traded items.  It can also be used to follow the supply channel from producer to the distributor in areas like medicine or offer indisputable proof of purchase in the art community.

Conclusion:

Blockchain has different types. So people need to understand what type of blockchain is suitable for one. Furthermore, different platforms support many other languages. So people need to choose a perfect platform to use their choice of programming language. The use and growth of blockchain are growing. Forrester predicts that 30% of projects will take place in blockchain globally in 2021. So it is an excellent decision to start learning blockchain.