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March 29, 2022
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Blockchain is a decentralized, immutable database that makes it easier to track assets and record transactions in a corporate network. An asset may be physical (such as a home, car, money, or land) or intangible (intellectual property, patents, copyrights, branding). In a blockchain network, practically anything of value may be recorded and traded, lowering risk and increasing efficiency for all parties.
A blockchain is a digital ledger of transactions that is decentralized, meaning it is not controlled by any single entity or organization. Transactions are recorded and verified by a network of computers or nodes, and each new transaction is added to a "block" in the chain, which is then secured by cryptography.
For developers to create and deploy their own decentralized apps on top of a blockchain, a blockchain platform offers a framework. This can contain different varieties of dApps as well as smart contracts, which are self-executing contracts with the conditions of the agreement put directly into code.
10. Solana
Avalanche is a safe, scalable, high-performance, and configurable blockchain platform.
- Creating blockchains tailored for particular applications, encompassing permission (private) and permission-less (public) deployments.
- Developing and releasing massively scalable, decentralized applications (Dapps).
- Creating digital assets with arbitrary complexity and unique covenants and riders (smart assets).
Binance Smart Chain (BSC) is a blockchain platform that was launched in 2020 by the popular cryptocurrency exchange Binance. Binance Smart Chain uses a Proof of Stake (PoS) consensus mechanism to validate transactions and produce new blocks, which is more energy-efficient than the Proof of Work (PoW) mechanism used by Bitcoin and Ethereum
Cardano is a decentralized blockchain platform that was launched in 2017 by Input Output Hong Kong (IOHK). It is designed to be a third-generation blockchain, following the first-generation Bitcoin and second-generation Ethereum.
Cardano uses a Proof of Stake (PoS) consensus mechanism to validate transactions and produce new blocks. This is more energy-efficient than the Proof of Work (PoW) mechanism used by Bitcoin and Ethereum and allows for faster transaction confirmations and higher throughput. Cardano also has a strong focus on security and scalability, with a peer-reviewed research approach to development and a roadmap for future upgrades and improvements.
Ethereum is designed to be a flexible and programmable platform, allowing developers to create custom DApps and smart contracts that can be executed automatically when certain conditions are met. Ethereum has its own cryptocurrency, called Ether (ETH), which is used to pay transaction fees and to incentivize miners to validate transactions and maintain the network. ETH can also be used as a form of payment for goods and services. One of the unique features of Ethereum is its ability to support non-fungible tokens (NFTs), which are digital assets that represent ownership of unique items such as art, music, or collectibles.
Hyperledger Fabric is designed to provide high levels of privacy, security, and scalability, making it ideal for use cases in finance, supply chain management, and other industries where sensitive data needs to be shared securely between different parties. The platform can also build a "network of networks," which gives the option of security (or lack thereof) in transactions involving many parties.
Hyperledger Sawtooth uses a unique consensus mechanism called Proof of Elapsed Time (PoET), which enables high throughput and low latency while still maintaining security. Hyperledger Sawtooth also allows developers to write smart contracts in multiple programming languages, making it easier to integrate with existing systems. Another important feature of Hyperledger Sawtooth is its support for permission and permissionless blockchain networks. This flexibility allows businesses to choose the type of network that best suits their needs and requirements.
IBM Blockchain is a powerful and flexible platform that offers businesses a range of features and services to help them build and deploy blockchain applications. Its use of Hyperledger Fabric and modular components make it particularly well-suited for enterprise-level businesses with complex requirements and high-security needs.
Polkadot is a next-generation blockchain platform that allows for multiple parallel chains to run on the same network, increasing scalability and efficiency. The platform is also designed to be highly customizable, allowing developers to create custom blockchain networks and applications using Substrate, a framework for building blockchain systems. Polkadot's interoperability features are achieved through the use of special protocols to provide a seamless user experience for applications that require the use of multiple blockchain networks.
Ripple is a powerful payment protocol and cryptocurrency that offers fast and efficient cross-border payments and money transfers. Its focus on compliance and regulatory compliance makes it a popular choice for banks and other financial institutions, while its use of XRP and distributed ledger technology offers a high level of security and efficiency.
Solana is a high-performance blockchain platform designed to offer fast and efficient transaction processing based on a unique consensus mechanism called Proof of History (PoH). Another key feature of Solana is its support for interoperability with other blockchain networks,
Overall, blockchain platforms provide a secure and transparent way for developers to build decentralized applications that can operate without the need for intermediaries or centralized control.
