A blockchain, originally block chain, is a growing list of records, called blocks, that are linked using cryptography. A blockchain is resistant to modification of the data. It is an open, distributed ledger that can record transactions between two parties efficiently and in a verifiable and permanent way. The technology that once evolved in the year 2009 as the underlying platform for Bitcoin exchange has now transformed into a mainstream technology.
Whether it is healthcare or finance or any business, blockchain based applications transform their business into that has been never before. Many companies venturing into Blockchain technology and developing Blockchain based applications to perform business operations more transparent and efficient.
Blockchain has been become a base base platform for many technological evolution. Here are the few leading blockchain platforms.
Ethereum:
After Bitcoin, if there is something that has created a buzz in the market, then its Ethereum. Ethereum is considered by many to be the second most popular cryptocurrency, surpassed at the moment only by Bitcoin. Vitalk Buterin has founded in the year 2014. Ethereum is one of the highly active and open source Blockchain which also forms the base for development of other applications.
- Open source for public use
- Smart contracts: Ethereum allows the development and deployment of these
- Ethereum allows you to create consolidated applications, called decentralized applications.
- Proof-of-work based system
- Strongly followed in Github
- Multiple language application like C++ and python
Hyperledger Fabric:
The most recent developed Blockchain platform. The world has noticed about hyperledger in the year 2016 developed by Linux Foundation. The objective is to boost the use of Blockchain technologies across different industries. Hyperledger Fabric supports distributed ledger solutions on permissioned networks for a wide range of industries. Its modular architecture maximizes the confidentiality, resilience, and flexibility of blockchain solutions.
- Real-only history inquiries
- Performance, scalability, and levels of trust
- Data on a need-to-know basis
- Rich queries over an immutable distributed ledger
- Protection of digital keys and sensitive data
- 180+ collaborating enterprises
- Production ready for enterprises
IBM Blockchain:
IBM helps you simplify Blockchain complexity to scale competitive advantages. Developers: start building with the VS Code extension (link resides outside IBM). Grow distributed networks with new multi cloud flexibility.
- It offers a permission based network
- Open, interoperable and available anywhere for enterprises and entrepreneurs
- Build your networks faster and easier
Multichain:
The MultiChain technology is a platform that helps users to establish a certain private Blockchains that can be used by the organizations for financial transactions. A simple API and a command-line interface are what MultiChain provides us. This helps to preserve and set up the chain.
- Formation of permission based network
- Strongly followed at Github
- Free and open source pricing
- Smart Filters. These allow custom rules to be coded for validating transactions or data
- Supported languages: C, C++. Python and Javascript
- Richer data streams
Ripple:
Ripple is more known for its digital payment protocol than its cryptocurrency, XRP. Ripple operates on an open-source and peer-to-peer decentralized platform that allows for a seamless transfer of money in any form, whether USD, Yen, litecoin, or bitcoin. Ripple shares similar popularity like Ethereum or Bitcoin.
- It helps connect banks, digital assets exchanges, and payment providers
- Faster, Cheaper Cross-Border Payments to Millions of Retail and Commercial Customers
- Send money globally with ease.
- The high speed of ripple guarantees 5 transactions every second
Hydrachain:
HydraChain is an open source blockchain platform, which is developed by the joint venture of Brainbot technologies and Ethereum project. HydraChain is an extension of the Ethereum Blockchain platform which provides support to create private/permission Blockchain networks. The supporting language for HydraChain is python.
- Follows Ethereum protocol
- Permsisioned network
- Accountable Validators
- Instant Finality
- Customizability
- Easy Deployment
- Open Source
- Commercial Support
1 Comment
Pingback: Adoption was accelerated by the pandemic, but information dissemination was equally important:Blockchain Activist in Kenya – CoinMA