Posted On : 18th August, 2021 by Mit Shah
With the rapid demand for blockchain technology, every business has started to experience its potential. Initially, blockchain was very much suitable for some specific industries like finance; however, with the technical advancements, its uses have been increased across several industries incorporating the software development arena.
Since organizations worldwide have begun to explore blockchain capabilities by creating blockchain applications, the demand for this immersive development platform has also boosted. The growing demand for mobile app development is another cause that the number of blockchain platforms increases every day.
IBM study shows that “Out of 3,000 global C-level employees, 33% of businesses are considering using blockchain technology.
Indeed blockchain is a mainstream technology today. Be it Legal, Fintech, Supply Chain, Logistics or Healthcare, blockchain has existed in all industries. Blockchain apps are the best for developing business processes more seamless and efficient. Some of the top benefits of blockchain are listed below:
- Improved Traceability
- Increased Reliability
- Enhanced Security
- Higher Transparency
It is a payment protocol and an open-source blockchain network. You can utilize it to build market and send the digital representation of all money forms. Stellar can manage millions of transactions every day. So, it is good enough to manage businesses where several transactions take place every day.
It enables cross-border and quick transactions between different currencies. Stellar relies on the blockchain to manage the network in sync. One study shows that more than 69% of banks use blockchain technology for seamless, transparent and secure transactions.
It is one of the unique platforms offers rapid and most scalable blockchain platforms that create reliable, secure and robust financial apps. With this platform, you can easily move your money in a reliable, quick and cost-effective manner.
Tezos is a self-governing and decentralized blockchain platform. It establishes a reliable digital wealth for businesses operating online. Tezos is associated with a digital toke, known as Tez or Tezzie. However, the platform relies on the mining of Tezzie.
Rather, token holders get a prize for taking an interest in the proof-of-stake consensus system. Tezos is a dApp platform and smart contracts like QTUM, Waves, Neo, and Ethereum; however, its self-changing cryptographic system makes it one of a kind from different platforms.
Hyperledger Sawtooth is a Linux product and supported by Digital Asset and IBM. It is a modular and enterprise-grade platform intended for developing, deploying and implementing distributed ledger, which allows digital records and data to be handled without a central authority.
Furthermore, the poET (Proof of Elapsed Time) of the Hyperledger Sawtooth consensus system allows it to integrate with hardware security solutions termed TEE (Trusted Execution Environments). Hyperledger Sawtooth-based newly launched application is Intels’ Xeon processor.
It is also an open-source platform to integrate with an enterprise-made 1.0 version. IT offers blockchain organizations a sense of trust that whatever they create won’t tear due to future enhancements.
Recently, Hyperledger Sawtooth has launched the latest version, 1.1. With the new release, you can find support for an improved consensus interface and WebAssembly smart contracts.
It is a decentralized blockchain platform that aims to create a global and free content entertainment system that allows reliable and seamless content sharing online. TRX or Tron can handle more than 2000 transactions every second without any cost.
Tron depends on Delegated-Proof-of-Stake (DPoS) consensus system to secure blockchain applications. It offers a secure channel for developers to share their content digitally with the users, eliminating the third party. With it, original data also remains highly protected and secure.
It was founded in 2012. Ripple focused on connecting corporates, digital asset exchanges, payment providers and banks through blockchain networks without any fee. It also enables global payments via a digital asset system known as “Ripple” or “XRP,” now the widely used cryptocurrency like Bitcoin and Ether.
It now has about 75 clients and 100+ customers in several stages of commercial deployment, basically across three use cases that are cross-border payments (xCurrent), sending payments across multiple networks (xVia), and minimizing liquidity costs (xRapid). XRP is faster and scalable than other blockchain platforms.
Many global brands such as Deloitte, MoneyGram International, American Express and Santander are testing Ripple’s potential. Also, such big brands plan to integrate this platform to the existing payment system faster and securely.
Ethereum is one the leading, open-source and decentralized blockchain platforms with native digital currency with ETH or Ether. It is a ledger technology that businesses can use to create and execute new programs.
Ethereum allows the build and implementation of Distributed apps and Smart Contracts without any third-party involvement, data threats, or downtime. It is a favorite platform for developers to make new and featured applications.
The demand for blockchain technology is increasing rapidly. In this writing, we have described the top 6 blockchain platforms to meet today’s development needs. All the described platforms have unique advantages and features.
Therefore, you can choose the best platform as per your app development and business needs. Consult an expert blockchain development company today for the best-in-class blockchain consulting services.