Blockchain technology is growing at an unprecedented pace bringing on plate prodigious development and innovation. Entrepreneurs around the globe have agreed to the suitability of blockchain technology across various domains. And with its increasing demand, companies from various sectors are leveraging blockchain based applications to address their existing business challenges to bring more transparency and efficiency into their operations.
Sounds interesting right? Scroll down and explore more about Blockchain development platforms.
Table of Contents
What is a Blockchain Platform?
Blockchain is an unique way to embark on a complete database management system that includes storing information, performing functions, executing transactions, and most importantly establishing trust in an open environment in a more secure and efficient manner.This much-hyped technology is created and maintained using a peer to peer overlay network.
If you have made up your mind to utilize blockchain technology, we have listed here top Blockchain platforms that can be used.
HERE WE GO!
1. Ripple
Ripple is as popular as Ethereum and Bitcoin. Created in 2012, the platform aims to connect banks, digital asset exchanges, payment providers, and corporations via a blockchain network named RippleNet. And that too without any chargebacks.
Often asked what makes it the most efficient platform, the developers respond simply, it guarantees 5 transactions every second. With this basic information we can imagine how quick this platform works.
Integrate this now to make your payment process more faster and secure. Also, making global payments can be done with ease through a digital asset called “XRP or Ripple.
What You Need To Know About Ripple
- Industry Focus: Financial Services
- Consensus Algorithm: Probabilistic Voting
- Governance: Ripple Labs
- Smart Contract Functionality: No
- Ledger Type: Permissioned
2. Ethereum – Open-source.Highly Active.
Ethereum created a lot of buzz in the market when it was launched. This platform is highly active and built a large online support community with regular product enhancements. It is one of the most popular platforms for creating customized smart contracts. These contracts run on Ethereum Virtual Machine (EVM) and every node within the network has to run an EVM implementation.
What You Need To Know About Ethereum
- Industry Focus: Cross-Industry
- Consensus Algorithm: Proof of Work
- Governance: Ethereum Developers
- Smart Contract Functionality: Yes
- Ledger Type: Permissionless
- Backbone: JavaScript
- Strongly followed in Github
- Multiple language application like C++ and python
3. Hyperledger Fabric
Hyperledger Fabric framework is designed for developing blockchain based solutions
and applications using a modular architecture. The participants using this network are only authorized to participate within the system.
What You Need To Know About Hyperledger Fabric
- Industry Focus: Cross-Industry
- Consensus Algorithm: Pluggable Framework
- Governance: Linux Foundation
- Smart Contract Functionality: Yes
- Ledger Type: Permissioned
- Real-only history inquiries
- 180+ collaborating enterprises
- Production ready for enterprises.
4. Stellar Blockchain platform
If you’re trying your hand at building smart devices, banking tools or mobile wallets then a stellar network can be of great help. This distributed blockchain based ledger facilitates cross-asset transfers of value and supports exchanges between cryptocurrencies and fiat based currencies. It is an open-source platform for currency payments supporting all forms of money be it dollars, bitcoin, pesos, or any such thing. Thus, making it seamless for users to create, send, and trade.
What You Need To Know About Stellar
Industry Focus: Financial Services
Consensus Algorithm: Stellar Consensus Protocol
Governance: Stellar Development Foundation
Smart Contract Functionality: Yes
Ledger Type: Both public and private
5. R3 Corda
Corda is an open source blockchain platform that allows institutions to transact directly with smart contracts. This platform was exclusively designed for the financial sector but now it is applied in various other use cases like healthcare, supply chain, and government authorities.
Using Corda, you don’t need to worry about data privacy and security as it operates in a permissioned mode. Also, it comes with fine-grained access control that gives the highest level of protection to digital records.As per Stats, more than 60 firms, including Microsoft and Intel are using Corda as a blockchain platform.
What You Need To Know About R3 Corda
Industry Focus: Cross-Industry
Consensus Algorithm: Asynchronous Byzantine Fault Tolerance
Governance: Hedera Hashgraph Council
Smart Contract Functionality: Yes
Ledger Type: Permissioned
6. OpenChain
If you’re looking for a highly secure and scalable platform to manage your digital assets, OpenChain is a one-stop solution! It is a newbie in the world of blockchain technology and spreading its wings relatively better than others. The reason is it operates on a different algorithm called Partitioned Consensus where one instance will only have a single authority for validation of transactions thus making it more efficient than other platforms.
What You Need To Know About OpenChain
Industry Focus: Digital Asset Management
Consensus Algorithm: Partitioned Consensus
Governance: Linux Foundation
Smart Contract Functionality: Yes
Ledger Type: Permissioned
7. Dragonchain Platform
Dragonchain Platform is specifically designed for enterprises and provides them ease of use and flexibility to develop blockchain applications and microservice-based smart contracts very quickly. It support a number of programming language, including Node.js, Python,Java, C# and Go.
What You Need To Know About Dragonchain
Industry Focus: Cross-Industry
Consensus Algorithm: Context-Based Verification with 5 levels of consensus
Governance: Dragonchain Foundation
Smart Contract Functionality: Yes
Ledger Type: Public, Private and Hybrid
8. Quorum
Quorum is an open-source platform that uses different algorithms including vote-based to process several transactions per second. It was first conceptualized and incubated by J.P. Morgan. This is an enterprise-focused version of Ethereum, designed to be permissioned. Hence the network using Quorum won’t be accessed by everyone.
What You Need To Know About Quorum
Industry Focus: Cross-Industry
Governance: Ethereum Developers and JP Morgan Chase
Consensus Algorithm: Majority Voting
Ledger Type: Permissioned
Smart Contract Functionality: No
9. EOS
EOS is an open-source software blockchain platform designed for the development of decentralized applications (dApps). You don’t need to spend tons of money to reap its benefits and easily perform various tasks and send messages using the EOS platform for free. It is a highly-authentic platform that saves data in a secure manner.
What You Need To Know About EOS
Consensus Algorithm: Delegated Proof of Stake
Governance: EOSIO Core Arbitration Forum (ECAF)
Smart Contract Functionality: Yes
Ledger Type: Permissioned
10. Hyperledger Iroha
Hyperledger Iroha is a simple blockchain platform used to manage digital assets, identity, and serialized data. This is a one stop solution for building trusted, secure and fast decentralized applications. This platform is based on a consensus algorithm called Yet Another Consensus, which is highly secure and fast that protects Iroha networks from adversary nodes. It provides modular architecture, maintains transparency in the development process and also uses smart contracts.
What You Need To Know About Hyperledger Iroha
Industry Focus: Cross-Industry
Consensus Algorithm: Chain-based Byzantine Fault Tolerant
Governance: Linux Foundation
Smart Contract Functionality: Yes
Ledger Type: Permissioned
Before you make a move consider following parameters that you need to look at before choosing the best blockchain development platform for your business
- Structure of information
- Scalability and throughput of the platform.
- Adoption rate
- Required dev experience and availability of supporting developer tools to enhance the dev experience.
- Availability of incentivization programs or bug bounties
The above mentioned criteria may help you make a more informed decision when picking a blockchain platform.
Final Thoughts!!!
Undoubtedly, there are several blockchain platforms available worldwide, entrepreneurs need to understand the right platforms that work best for their business. Therefore, we have discussed the top 10 blockchain development platforms used by the top blockchain companies including Microsoft, IBM, Intel, and more.
Get a team of highly skilled blockchain developers who have a deep understanding of blockchain concepts and understand how to build applications using the blockchain platforms mentioned above in the article.
Author Bio
Scarlett is a technical writer associated with A3logics. She has a keen interest in Blockchain technology. With an eagerness to explore all the advancements the technology has in store, she is generally found reading journals and discussing with the professional software development team on the same. A tech geek by nature, in her leisure time, she loves to visit nearby cafes and enjoy some coffee with a book.
