Top 10 Blockchain platform in 2023
Blockchain came with a bang as a disruption in the financial industry but soon its potential was well understood by people and now it had been adopted by dApps developers to build dApps on a large scale. Known corporate houses have already started to explore the potential of Blockchain, and the development of dApps is another reason for the rising number of Blockchain platforms.
What is a Blockchain platform?
Blockchain platforms are those bases over which the development of Blockchain-based applications happens. These Blockchain platforms can be either permissioned or permissionless, each having some specialties and qualities. Some of the well-known Blockchain platforms that built frameworks are Ethereum, R3, Ripple, EOS, and Hyperledger, which allows people to develop and host applications over them.
There are certain parameters that need to be considered before finalizing the dApp development over a blockchain platform. To simplify your search, we have compiled a list of blockchain platforms upon the subject evaluation of their ease of use and worth of usability.
Top 10 Blockchain platforms in 2023
Ethereum is an open-source blockchain-based platform and is the first blockchain platform to include a programming language operating system while featuring smart contracts functionality. Vitalik Buterin, a cryptocurrency researcher and programmer, proposed Ethereum in late 2013, it had grown manifold when the system went live on 30th July 2015. Ethereum is unlike other Blockchain, where you can do programming, and developers can use it to develop many new kinds of applications. Ethereum is one of the most preferred global, open-source platforms for developing dApps.
Stellar is an open-source blockchain platform to be introduced in 2014. The decentralized global exchange network of Stellar is used for digital currency to fiat money transfers at low cost so that cross-border financial transactions between any pair of currencies can be done in a hassle-free manner. Jed McCaleb, the co-founder of Stellar founded it as an ultra-fast, cheaper, and very more energy-efficient platform while being more inclusive than any other Blockchain network.
Tezos is an open-source public blockchain platform to be co-founded by Kathleen Breitman and Arthur Breitman. Tezos has a platform linked to a digital token, named Tezzie or Tez, and it is used as a medium for payment over the platform. Tezos is a self-governing platform and establishes a true digital commonwealth. Tezos functions upon Delegated Proof of Stake (XDPoS) consensus mechanism and supports smart contracts.
Solana is an open-source blockchain network having striking similarities to Ethereum but in many ways better that it. Solana employs Proof-of-History consensus to timestamp transactions of the SOL coin and digital assets. Solana offers three main benefits namely, scalability, low costs and connectivity between projects which are the main vital qualities needed to develop a highly scalable dApp.
Hyperledger Fabric is an esteemed project of Hyperledger and is a consortium-based blockchain platform. It is thought to be a base for developing dApps with a modular architecture. What distinguishes Hyperledger Fabric from others is the modularity of the architecture which allows in the plug-in of their preferred.
Hyperledger Iroha is a permissioned blockchain platform, that can be used for general purposes for building secure, trusted, and fast dApps.
Hyperledger Iroha offers a novel, Crash fault-tolerant consensus algorithm and is an easy and modularized distributed ledger system. Iroha has a robust permission system and by using prebuilt commands it lets users perform common functions, such as creating and transferring digital assets.
Quorum is a customized version of Ethereum focused on enterprises. The well-known financial services company J.P. Morgan founded it as an open-source blockchain platform, that is forever free to use. It is a permissioned blockchain platform optimized to support high-speed transactions between financial institutions. Recently, ConsenSys brought the intellectual property assets of Quorum from J.P. Morgan and South African Reserve Bank.
Consortium-based Corda is the one of its kind first open-source blockchain-inspired DLT platform built exclusively for businesses. Although, it’s a matter of debate whether R3 Corda is technically a blockchain or just distributed ledger platform. But Corda makes itself to the list, as is a permissioned blockchain platform that only allows authorized participants to access the data. There is no inbuilt token mechanism or any sort of cryptocurrency in Corda.
Already, over 60+ companies from various industries have joined R3 Corda and working with enterprise software firms to develop distributed ledger technology (DLT) based dApps on the Corda network.
EOS is an open-source public blockchain platform founded by a private entity named Block.one, focusing on creating highly scalable and secure dApps. EOS offers solutions for hosting dApps and is smart contract compatible, solving the scalability issues which plagued Ethereum and Bitcoin. EOS makes up the list of top Blockchain platforms as it allows multi-processing, upgradability, permission schema, and flexibility by its delegated proof-of-stake algorithm.
NEO is a public blockchain network designed to develop scalable dApps and its main asset of it is the NEO token. The founders of the NEO are the duo named Da Hongfei and Erik Zhang, who set up a blockchain company named OnChain, which is based in Shanghai. Delegated Byzantine Fault Tolerance is what NEO uses as its consensus algorithm and the NEO tokens are used as a mode of payment for the gas fees to run applications on the network.
As technology is mercurial so does Blockchain technology, which is constantly innovating itself with newly added features in the platforms. Nevertheless, new platforms are emerging with added features, and blockchain consultants at Rejolut help businesses in choosing a platform that would suit requirements and faster deployment of scalable dApps.
Here we have discussed some well-known platforms which are used by top Blockchain companies so that picking the right one for your project can be less tricky.
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