If you are new to Blockchain Technology, this article will help you gain a clear understanding of top Blockchain platforms and decide the best platform for your project.
Table of Contents
- Top 5 Blockchain Platforms of 2020
- How to Select the Best Platform
- Concluding Lines
Top 5 Blockchain Platforms of 2020
As Blockchain continues to advance and develop, we are witnessing the rise of blockchain platforms supporting Blockchain apps’ development. Let’s explore the most popular platforms of 2020.
An initiative of the Linux Foundation, Hyperledger is another popular and favorite platform for Blockchain Developers as it comes with various free tools and frameworks that allow technocrats to build their Blockchain-based solutions. This Blockchain-based platform aims to accelerate industry-wide collaboration to develop high performance and reliable DLT-based technology framework that could be used across the various industries to enhance the performance and transactions of the diverse business processes.
Unlike Ethereum, Hyperledger does not have any built-in cryptocurrency, and it is mainly a preferred platform for B2B businesses.
Introduced in 2015, Ethereum is an open-source Blockchain platform to run smart contracts on the custom-built Blockchain network. It is considered to be one of the best platforms of 2020 for the developers for creating decentralized applications(known as dAapps) and democratic autonomous organizations (known as DAOs). If you are planning to use this platform for building Dapps, you need to pay charges in Ethers(Ethereum’s native cryptocurrency) for executing transactions and running your apps. With its continuous development, the platform is able to build a large online support community to keep everyone up-to-date about its latest announcements.
Quorum is a version of Ethereum that modifies Ethereum’s core, due to which it can incorporate updates of Ethereum seamlessly and has much more exceptional features. This is an enterprise-focused blockchain infrastructure that is designed for financial used cases. The platform has the ability to handle applications that require powerful throughput processing and high speed of private transactions. Due to its capabilities, Quorum is becoming an indispensable part of banks and financial institutions where privacy of information is crucial.
Introduced in 2015, Corda is an open-source platform that can be used to design applications specifically for financial organizations. Initially, it was designed by the financial industry, but today this platform has its implications in various sectors such as trade finance, supply chain, government authorities, among others. Since it operates on the permissioned network, it allows only an authorized group of people to access crucial data. Moreover, Corda can be used to reduce transactions and streamline business operations.
If you want to learn more about this platform, Corda online training provided by Blockchain Council comes with an all-inclusive and detailed self-paced syllabus structure. For more, check out Blockchain Council.
NEO has a permissioned network to develop scalable decentralized applications whose ecosystem is rapidly developing, enabling Neo to become the foundation for next-gen Internet. The major selling point of NEO is its Smart economy, by which it will be possible to digitize physical assets on the blockchain platform.
It uses Delegated Byzantine Fault Tolerance(dBFT) consensus algorithm as it allows better scale and performance compared to other consensus mechanisms. The best part of using this platform is that by using the Neo SmartContract system, you don’t have to study a new programming language; instead, you can use Java or other languages such as Python C#, Go, and others to develop smart contracts.
How to Select the Best Platform
- Understand your business requirements and then decide which type of Blockchain do your need. Make sure whether you need a public, permissioned, or private blockchain network.
- Check the development status of the chosen platform. Ensure whether it is a full-fledged platform or it is still developing. Learn when the platform was introduced?
- Understand which consensus mechanism it uses, and look at how popular it is.
- Check whether the platform supports Smart Contracts Functionality or not? Also, understand its scalability as it is a crucial parameter while choosing the right platform for your project.
As Blockchain is no more a new concept, more and more new platforms are emerging with additional features and new releases. But since there are plenty of platforms available worldwide, organizations and enterprises need to understand their requirements to build applications.
Hope you have obtained basic information about the top popular blockchain development platforms. If you want to gain an in-depth understanding and become an industry-ready Blockchain professional, feel free to reach out to us.
As one of the leading organizations, Blockchain Council offers online training and certifications to aspiring trainees to render the desired competence to have a successful career in the Blockchain space. Blockchain Council offers the most in-demand certifications, such as Certified Blockchain Developer, Certified Blockchain Expert, Certified Blockchain Architect, to name a few.