Introduction
The demand for Blockchain technology has increased in the past couple of years. Financial sectors were the most influential field. But look today, the use of Blockchain technology has reached every industry, including software development.
Since Blockchain technology has infiltrated the software developments, the demand for Blockchain technology has skyrocketed. Blockchain technology is now being used for making decentralized applications or dApps.
Seeing how blockchain technology is disrupting the industry, more and more Blockchain Platforms are needed every day. What is a Blockchain platform? We at Techdee has shared a detailed review, Let’s find out.
What Is a Blockchain Platform?
Blockchain platforms are the networks on which Cryptocurrency performs. These Blockchain platforms are used to create decentralized applications. As these applications are decentralized in nature, they can be encrypted if needed.
Here are some examples of the Blockchain platforms:
- Ethereum.
- Hyperledger.
- Ripple.
- EOS.
- R3.
These Blockchain platforms develop infrastructure for the applications and allow the users to host applications on the Blockchain network.
How to Select a Blockchain Platform?
The Blockchain platforms have several subcategories. However, here we take a subjective evaluation for the ease of prototyping.
Here are factors that have been considered while listing down the top Blockchain developments.
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Development Status
It is important to note down this fact to check its activity on Github or other related communities to ensure that they are active in this industry.
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Language of The Platform
Blockchain technology is still in its nascent stage. Hence, ensure that the programming languages are supported by SDKs.
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The Popularity of The Platform
The reputation of the Blockchain platform matters; this shows how trustable this platform is. You can check its Github account or Reddit account to see its popularity.
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Blockchain Consensus Protocol
If you cannot understand the consensus protocol, you will find it difficult to work with the Blockchain platform. There are multiple types of consensus algorithms that check different things. Hence, you must understand which algorithm the Blockchain platform is working.
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Smart Contract Support
Smart contracts have become the norm. Despite that, not all Blockchain platforms support smart contracts. Keep an eye on this as well.
Top Blockchain Development
There have been a lot of Blockchain developments in 2020. We have handpicked some of the top developments down below.
1. Tezos
Tezos is a decentralized self-governing Blockchain platform. This platform is lined with the Cryptocurrency Tez, but it is not based on mining the Rez. on this Blockchain platform, the users are rewarded with tokens after participating in the proof of stakes consensus.
Just like Ethereum and QTUM, Tezos is a Platform that specializes in smart contracts and decentralized applications (dApps).
2. Corda
Corda is an open-source Blockchain platform. It enables institutions to directly translate smart contracts. This practice helps the users to remove costly friction during transactions.
Corda does not have any Cryptocurrency or any Crypto token. It is an encrypted platform that is accessed by authorized users. Since it is an encrypted Blockchain platform, it excels in privacy.
3. Hedera Hashgraph
Hedera Hashgraph a new perspective towards distributed consensus. Hedera is fast and secure that allows the user to compute a faster algorithm compared to its peers. Hedera aims to empower a new breed of decentralized application that only focuses on scalability.
The best part of the Hedera is that smart contracts are dynamic. Also, Hedera offers an optimal mechanism that allows binding arbitrations.
4. Quorum
Quorum is one of the top Blockchain developments in 2020 and is developed by the J.P Morgan group. Put simply; It is a business-version of Ethereum. Quorum can modify Ethereumj core, and hence, it can smoothly uptake the Ethereum updates.
The functioning of the Quorum is similar to Ethereum and shares the open-source and free to use features. Quorum is designed to be encrypted.
Conclusion
2020 has been a game-changer for the Crypt Curry industry. Alone 2020 has witnessed the birth of several Blockchain platforms. However, not all the platforms were real. Fraudulent users have also used the opportunity to hack other’s data. To know more, you can take bmmagazine.co.uk from here.
