Blockchain has been gathering momentum since its inception in the year 2009 by a pseudo-group named Santoshi Nakamoto. Nakamoto has released a whitepaper called Bitcoin: A Peer-to-Peer Electronic Cash System that never explicitly mentioned about blockchain as a technology, but is a great read nonetheless.
The paper discusses the transition of cash flows between peer-to-peer systems through a series of timestamp and hash-based proof of work. But blockchain apparently became popular for bitcoin, and subsequently led to the rise of several blockchain platforms.
Blockchain has seen a significant impact on industries such as supply chain management, healthcare, finance, and IoT applications. Many businesses, SMEs and enterprises are integrating blockchain into their existing business models and have seen potential growth in their revenue models.
For business owners, blockchain will be seen as a milestone that can be achieved with sustained effort as building a blockchain-based app from scratch can be quite complex for a blockchain developer. Here are the most popular blockchain platforms that you can use to easily build blockchain applications.
Here are some popular examples for blockchain platforms that your Blockchain and Ethereum developers can use now:
As a business owner, making any decision requires a limited number of choices based on the options that best meet your needs.
The blockchain industry needs a qualitative analysis of the blockchain platform based on the following factors. These areas will help you plan and make your next business decision:
After blockchain, the most talked about term in the tech world is Ethereum, developed by Vitalik Buterin in the year 2014, it is the most active and open-source blockchain platform used to develop decentralized blockchain applications. has been one of Based on the Ethereum Virtual Machine, which enables a run-time environment to run smart contracts built on Ethereum.
Hyperledger Fabric is one of the most popular blockchain platforms for your next Hyperledger project which is designed to build blockchain applications using a modular approach. It ranks third and is the most widely used open-source blockchain platform for building blockchain applications, developed by the Linux Foundation in 2016.
Founded by the Linux Foundation, it is built to develop reliable, fast and secure decentralized blockchain applications. It’s simple and modular distributed architecture makes it compatible with Linux and Mac OS environment for building supply chain and IoT solutions.
Backed by Intel and founded by Linux, Hyperledger Sawtooth is the most widely used blockchain platform used to build, execute and deploy distributed ledgers. A modular and enterprise-grade platform that enables digital records to be managed and maintained without the need for a central authority.
Developed by the Coinprism organization, OpenChain is an open-source blockchain platform best suited for industries that want to handle their digital assets. A secure and scalable application powered by split consensus where you can have a single authorization validating transactions. One of the most efficient blockchain platform is free in terms of transaction process as compared to any other blockchain platform.
Stellar is a distributed ledger network designed to facilitate cross-platform asset transfers. The blockchain platform allows developers to build solutions for the banking and finance industry such as wallets, smart devices, and more.
The Stellar Consensus Protocol (SCP) makes it possible to maintain consensus without relying on a closed system to record financial transactions.
For example, SureRemit is one of those applications that leverages the application of the Stellar platform to connect overseas immigrants with merchants offering services in a different country.
Another popular blockchain platform, NEO designed by members of a blockchain R&D company, is used to build blockchain decentralized applications. Powered by a delegated Byzantine fault tolerance mechanism, NEO performs better than other blockchain platforms.
Block, launched by One in 2018 as open-source software, aims to provide decentralized application hosting, smart contract capability, decentralized storage of enterprise blockchain apps, and solve scalability issues with Bitcoin and Ethereum.
If you are looking to develop a decentralized enterprise-grade application, Hedra Hashgraph might be the best choice for your next business need. The blockchain platform is the most trusted for blockchain developers to build platforms for digital currencies and online payments.
With an asynchronous Byzantine fault tolerance algorithm, Hedera Hashgraph provides a high level of security.