Top Blockchain Platforms You Need to Know in 2022

blockchain development
June 22, 2022

The significance of Blockchain has increased with each passing day. Initially, this technology entered the market as a Bitcoin, but now it has become mainstream. Today, it has a wide range of functionality apart from bitcoin. Blockchain has entered several industries, including supply chain, logistics, healthcare, and other sectors. The primary purpose of this technology was to blockchain development of transparent and efficient business processes.

Experts have predicted the market length of Blockchain to increase by 39.7 billion USD in 2025. As a result, it will give rise to blockchain platforms. Here, we will discuss the top 10 blockchain platforms you can deploy to develop an embedded ecosystem.

What is a Blockchain Platform?

Blockchain platforms have started emerging in the market, and they have become the core of the technology in a few cases. Experts use these platforms for generally circulated value exchange, which may include an extended list of cryptographically signed, irreversible transactional records that all participants will share in a network.

Every record will include a time stamp and reference links to all earlier transactions. A Blockchain platform, also known as a distributed state transition machine, manages the lifecycle of digitized resources and unalterable record operations in a circulated register. Any valuable object can be a digitized asset, for example, identity, credentials, securities, digital currencies, etc.

Considerations for Selecting a Blockchain Platform

Development Status of a Platform

It is significant to examine the development status of a platform in GitHub or other relevant communities. It means you need to see how active is its development. Additionally, make sure that its code is examined several times or if it is still in the development process.

Type of Blockchain

When you plan to choose a Blockchain platform for your business, it is imperative to know the different types of Blockchain. Moreover, when you select one for your enterprise, ensure its network. For example, it can support private, public, or permitted Blockchain networks.

Languages Supported by the Platform

Blockchain is in the emerging phase, and several new programming languages have entered the market. You should know what programming languages SDKs of platform support before choosing that specific Blockchain platform.

The Popularity of the Platform

Before selecting a Blockchain platform, it is essential to examine its popularity on websites such as Reddit or GitHub.

Type of Blockchain Consensus Protocol used by the Platform

Working on a Blockchain platform is challenging without understanding its consensus protocol. There are various consensus algorithms like Proof of Burn, Proof of Stake, Proof of Work, etc. In this case, you should know consensus protocol compatibility with platforms. 

Smart Contracts Functionality

Smart contracts validate, enforce, or trigger activities of Blockchain systems. However, not all Blockchain platforms support this concept.

Kind of Scalability Your Solution Needs

A Blockchain network is adaptable to the increasing number of transactions and participants. If your project does not need transactions and requires only regular data review, then limit the network to cost, access, ease of use, and quality.

Top Blockchain Platforms

IBM Blockchain

IBM is a big name in the IT world, and IBM Blockchain has been effectively beneficial for business enterprises in the routine. It offers a wide range of options that allow users to build and increase a Blockchain network. Thus, they can develop an environment of their choice. IBM provides a team of experts to create a Blockchain network that makes it easier for users to deploy.

Steller

Stellar is a tech payment protocol that offers digital currency. With this platform, you can easily make transactions between two currencies worldwide in a few seconds. Thus, it manages millions of transactions daily. It is very similar to coins based on Blockchain in several aspects. The Stellar Development Foundation is a non-profit organization that handles tool progression, financial aspects, and social projects in the system.

However, the software does not connect to the company. It offers the privilege to build, trade, and transfer digital images currencies such as pesos, bitcoin, dollars, and more. It is a public platform, as it holds a basic fee against every transaction a user executes.

Ethereum

A Russian-Canadian developer called Vitalk Buterin introduced the Ethereum Blockchain platform in 2013. Therefore, it is known as the longest-lasting Blockchain platform. 

A Proof-of-work algorithm influences it, which makes it an open-source platform. It works privately, without any permit, and anyone can access this platform anywhere. With this Blockchain platform, programmers can smoothly write non-centric next-gen apps. Solidity is a programming language that empowers smart contract development. And it is the core of this Blockchain platform. Therefore, Ethereum is a platform for smart contract Blockchains.

Corda

Corda is a business-centric open-source Blockchain platform that interconnects Blockchain systems to empower transactions that a user safely processes. Organizations can flawlessly process transactions with each other and keep track of the same in a shared register. As a result, they do not need to verify their dealings frequently. Through this platform, businesses confidentially carry out their transactions in various fields such as finance, health, and construction. 

Corda offers agility, flexibility, and better security. 

Ripple

Ripple emerged in 2012. It offers a Blockchain network that allows connecting banks, corporate, digital asset exchanges, and payment providers. Moreover, it does not charge anything for the service. It has a digital property called ‘XRP’ and serves international payments. This digital asset is popularly known as one of the cryptocurrencies like Bitcoin and Ether.

With progressive Blockchain technology, XRP has proven to be more scalable and quicker compared to other Blockchains. Ripple has a clientele of around 75 customers in various commercial deployment phases.

Multichain

Multichain is an open-source Blockchain platform and is also a type of Bitcoin. Businesses use this platform to build private and public customized Blockchains. It offers enhancements and functionality that caters to organizations and commercial users. Multichain offers promising storage capacity and compatibility for local resources.

Data flooding, timestamping, data sharing, and encrypted archiving become smoother with Multichain.

Quorum

Quorum caters to the needs of the financial sector and is a private enterprise branch of Ethereum. Therefore, with Quorum, you can deploy smart contracts. These contracts are written in Solidity language and act as a private or public contract. It is the permitted version of Ethereum and serves an extended range of financial institutions. Moreover, it is also a big part of the Enterprise Blockchain movement.

Tron

Tron has proven to be an ideal choice when choosing an operating system based on Blockchain technology. It is highly beneficial for creating content. Content creators have always worked behind the curtains for big companies to make the most out of it. However, with Tron, content creators get the opportunity to be independent and recognized for their skills.

Tron’s cryptocurrency is known as Tronix (TRX) and is helpful to use as a Poocoin alternative. It is one of the most capable digital assets.

EOS

EOS is a popular Blockchain platform used to build and design secure and scalable applications. It offers the functionality of hosting and smart contracts. Additionally, the user can smoothly deal with scalability issues handled by Bitcoin or Ethereum with the decentralized storage of enterprise solutions.

It offers features such as multiprocessing, measurability, upgradability, and flexibility. 

Open-chain

Open-chain is an open-source Blockchain platform. It handles security, toughness, and scalability of digital assets and offers single authority for legal dealings with Partitioned Consensus. Moreover, Open-chain is highly effective and consistent due to its client-based server architecture. Thus, this Blockchain platform provides instant, direct, and manageable transactions.

It offers features such as free transactions, high scalability, 2-way pegging, intellectual contracts, and an integrated API.

Wrap Up

There are various kinds of blockchain technology. It means you need to understand platforms that suit your business. Moreover, they support a wide range of languages, which again requires you to select the one that uses their choice of programming language. The rising use and growth of Blockchain state that it is wise to learn the technology and deploy it to grow your business to new heights of success.

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