Blockchain keeps track of transactions and other information in the form of groups. These groups are known as “blocks.”
Blockchain frameworks simplify and make easy the creation and development, support, and use of products with complicated technology.
At first, in the financial industry, blockchain was considered a disturbance but soon people started to realize the potential of this technology.
The demand for blockchain has increased significantly just as technology is improving.
As companies and businesses have started to understand its use and potential, the need for more such platforms has increased as well.
The following are the top blockchain frameworks:
Ethereum is a framework that is used to develop and launch decentralized services online. It is an open-source framework that has smart and great contract functionality.
Ethereum is one of the most used blockchain platforms and using Etherum has a lot of advantages. It provides support for a lot of famous companies that include Microsoft, IBM, and Amazon.
It is a public platform which means you don’t require any permission to use it. To run apps, carrying out transactions, and building applications, you have to pay a certain amount of money.
Quorum is a platform for blockchain and J.P. Morgan was the person who founded it. The biggest and most prominent use of Quorum is to create a platform that helps and empowers different companies to benefit from the advantages of blockchain.
Quorum is in some ways very similar to Ethereum. It changes Ethereum’s core and uses its updates quite easily. It uses various algorithms to continuously keep track of all the transactions that are being made.
Transactions can be made completely free of cost and in a very small amount of time. Private transactions are possible through Quorum. It fixes the problem of confidentiality of information that many other blockchain platforms cannot handle easily.
NEM (XEM) is a blockchain platform that puts its prime focus on things like charity, banking, and trading. One of the best things about this platform is the algorithm that is used for establishing a consensus. It is called Proof-of-Importance (POI).
POI makes sure that its integrity is maintained and gives advantages to make a block of participants. It has a great capacity which means it can conduct about three thousand transactions every second.
Communication happens with NEM through the use of IP. This means it does not depend on any programming languages.
EOS was launched in June of 2018 as open-source software. The company that founded EOS is a private company.
EOS was made primarily for the creation of decentralized applications. After its release, everyone who wanted to use it was permitted to do so completely free of cost.
It has its forum for the community so that different developers and investors can easily discuss this blockchain platform. It gives the users a way to save the data and information and provide proper security to it.
It is fast and conducts about 1200 operations every single second. It has a creative and innovative model that is crowdfunded and is very convenient for the creation of DApps.
Many developers want to create their application for blockchain and Dragonchain is a service platform that can be used to do just that! It was open-sourced two years after it was initially created in 2014 by the Walt Disney Company.
Since it is a public/private hybrid blockchain platform, it is used to easily create blockchain apps that are high in their quality of performance. As they have a cloud-based model, the requirement of updates and server setup is not present.
One of the biggest advantages of using it is that it supports all of the programming languages. This includes Python, Java, C#, and others.
Stellar is an open-source platform for blockchain. Banking tools and smart devices can be created with the use of Stellar.
It is mainly used for the purpose of cross-asset transferring of values. However, it is also used for exchanges in fiat currencies and cryptocurrency.
Stellar Consensus Protocol (SCP) does not depend on a closed system of keeping track of financial transactions to reach a proper consensus. SCP does not have a lot of computing or financial needs and breaks down the barrier so it can be introduced to more participants.
To be able to send and receive money across borders, many different companies use Stellar. These include companies such as ICICI Bank and NaoBTC.
Tezos is a blockchain platform development of which started in 2014 by a great team of developers. It is a platform that governs itself and establishes a proper digital commonwealth.
Just like other platforms such as Ethereum, Tezos is used for the development of dApps and smart contracts. What makes it different and more unique as compared to all the other platforms is the fact that it is self-amending.
The most popular and famous company for cryptocurrency uses Bitcoin as its framework. Bitcoin came before the other blockchain platforms such as Ethereum, Dash, and others.
It was created in 2009 and it is the most capitalized in the market. It has gotten so famous that most of the time when people talk about things such as cryptocurrency, they usually think about Bitcoin.
A huge amount of people use it constantly and this is the reason it is so high in safety and security. The improvements and the updates that need to be brought in the platform are decided by the community.
Corda is a cutting-edge blockchain platform that reduces the cost of transactions significantly by allowing institutions to transact straight with smart contracts. It only lets the chosen participants gain access to the data and information but not the whole network.
Privacy increases significantly with its use because it works only with permission. It has a great demand from different huge companies.
Corda does not depend on cryptocurrency miners at all. It is used in many institutions such as healthcare, supply chain, trade finance, and others even though it was created for use by the financial industry.
IOTA is designed for the Internet-of-Things (IoT). This platform is not used by real humans but instead, it is used by digital devices such as electronic watches.
It does not have any fee of transaction or commissions. It does not depend on miners of cryptocurrency and can resist any fluctuations.
IOTA provides a good opportunity to hold small transactions. Transactions can easily be made online and offline without having to wait for a long time.
It has the ability to make separate clusters that can work independently from the network.
NEO was created to make the development of scalable decentralized applications possible. The main purpose of the NEO token is to make GAS tokens so transaction fees can be paid and applications can be run.
If compared to other consensus mechanisms, NEO gives a lot better quality of performance and scaling. There are three different components that are included in Neo Smart Economy.
Through the use of blockchain, keeping digital assets can be safe and secure. Using NEO for this purpose is useful as you can trade and transfer various kinds of digital data.
NEO maintains great digital identity standards. Developers also do not need to know any of the programming languages if they use the SmartContract system provided by it.
Waves is a Russian framework used for the purpose of creating tokens for security, crowdfunding, and gateways for payment. It is considered the second-most famous blockchain platform when it comes to getting funds through the starting offer of coins.
It has a great capacity for transactions as it can conduct about ten thousand transactions every single second. If you are working on a new project that you’re thinking of launching, you will only require 1 WAVE token.
For efficient and proper use, it is important to use a platform that is simple to understand. Waves is a platform that is very quick, clear, and easy to get and work with.
Openchain is a blockchain platform that was established by Coinprism. It is an open-sourced platform.
Many companies look for secure ways to store their information and other digital assets. OpenChain is great to keep digital assets safe.
It uses Partionned Consensus in which one instance needs only one authority to validate and confirm the transactions. There are no miners in it.
Due to the fact that OpenChain does not depend on miners, it is completely free of cost. This is what makes it more useful and efficient when compared with all the other blockchain platforms.
Ripple is a blockchain platform that was created in 2012. It was created keeping in mind the great need for connecting the providers of payment, exchanges of digital assets, banking, etc through the use of blockchain networks.
At this point, it has about 100 participants or customers. About 75 of these are in various stages of commercial deployment.
Through Ripple, global payments can be made quite easily by the use of XRP. Ripple XRP is way more scalable and much faster than the other platforms for blockchain.
By merging it with the present methods of payment, the transactions can be extremely safe and secure which is how many large companies are planning to use it. It puts its focus on financial services.
Hedera Hashgraph provides a new way of distributed consensus. It allows users and developers to efficiently create decentralized apps that are also scalable.
It does not have to determine a lot of proof of work algorithms. According to its governing body, no single person has the permission to fully control or influence the whole platform.
Just as the speed of your internet is fast and quick, so is Hedera Hashgraph! This platform can handle thousands of transactions per second and verify even more signatures every second.
This platform ensures that no particular user can block the transaction flow. It also has the greatest level of safety so proper protection can be provided to the users for their information and digital assets.
Blockchain technology can provide various new opportunities and benefits, especially to large businesses and companies. Greater safety measures and transparency is ensured through these platforms.
This technology allows companies to verify information properly without having to depend on any other parties to do so. It can be used for the security of a person’s identity, real-time IoT operations, and anti-money laundering tracking systems.
Since the popularity of blockchain platforms has increased, many new ones have started to be introduced with better and improved features and qualities. It is important to understand the requirements before deciding on using a particular platform.