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Post By Admin Last Updated At 2020-12-01
Learn about top Blockchain platforms of 2020

Blockchain is a popular technology that is built with revolutionary concepts, especially for the financial industry. Today, Blockchain is fascinating in many different areas like healthcare, finance, security, etc. Basically, Blockchain technology is a distributed ledger-based framework that has the ability to solve many different problems. The Blockchain platforms are the resources that allow developing blockchain-based apps. These apps help in the overall business from data management to transaction processing.

Moreover, these platforms or frameworks may be permissioned or permissionless. It means they don’t require special permissions from the users. Using popular Blockchain platforms users can host and develop various blockchain apps.

In this blog, we will learn about the top and most popular Blockchain platforms that are useful in this era and further also.

Learn about blockchain platforms of 2020

Open-source Blockchain platforms

Blockchain basically includes a time-stamped series of fixed records that provides hash-based security and work-proof. The distributed ledger technology helps to prevent modifications in the records. Moreover, there are many open-source Blockchain platforms that make this technology the best one. Let us discuss a few open-source platforms within the blockchain.

Ethereum

This is one of the open-source blockchain platforms within this technology. Moreover, this free to use platform helps to run smart contracts and also offers many coding tools to build them. This is a public Blockchain network with a distributed chain that allows developers to create and deploy different types of next-gen apps. Furthermore, this platform helps in designing and supplying tradable digital tokens. They also offer cryptocurrencies.

The major features of Ethereum are;-

Tracking ownership of digital money, supporting CLI tools, wallet support, and simplifies the development and designing of smart contracts.

The various advantages of the Ethereum platform are;-

No third-party updates are allowed, zero app downtime, corruption proof, highly-secure, safe from hackers.

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HydraChain

The HydraChain is also an open-source & one of the Blockchain platforms and an extension of the Etherium platform. This platform allows developing and deploying various distributed ledgers having certain permissions. Moreover, the platform supports Etherium and helps in developing smart contracts using Python programming. Besides, it also supports different tools and minimizes the development time, and enhances the debugging capacity of the systems. The platform also offers customization of configuration according to the consumer needs.

The major features of the HydraChain platform are;-

High compatibility at contract level along with an API, have a facility of reusing the various tools to develop & deploy contracts.

It relies on the various registered validators that help to validate various orders of transactions.

This provides a highly-compatible infrastructure to build smart contracts easily with a high-level programming language. Furthermore, it enhances the debugging process.

It also offers a low set up cost and easy deployment.

The main advantages of this platform are;-

Open-source availability, different support options, and customization facilities as per customer needs. Transaction privacy and security, easy to scale high with multiple chains linked within the process.

It helps to execute various native and smart contracts easily. Moreover, the platform minimizes the development/deployment time and cost.

Corda

This is R3’s open-source platform of Blockchain technology that helps businesses to build more secure and private transactions. Moreover, this platform doesn’t have its own cryptocurrency. The Corda platform is used by many diversified business entities such as financial companies in order to manage shared ledger transactions.

The important features of the Corda platform are;-

Corda is very faster and flexible in nature. It can scale itself in order to meet the various needs of the business.

Its entire transaction history is safe and secure with complete encryption. Furthermore, it is shared with the people who require it.

Due to open-source availability, the platform can provide a suitable Blockchain platform for businesses.

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The advantages of the Corda platform are as follows;-

It includes the largest community base with experts that regularly work on the latest changes, process improvements, functions, etc.

Moreover, Corda has the biggest developer community.

High-scalability as per customer needs.

Furthermore, it’s a more flexible and agile platform for various business use.

BigchainDB

It’s one of the open-source blockchain platforms having a distributed ledger system and capable of handling big data sets. This platform is designed as a production-ready database that makes it very engaging for deployment in production. Moreover, it doesn’t require waiting for other platforms of Blockchain to join the process.

The BigchainDB has a wide network base where it can be public or private depending upon the access permissions.  In the case of a public network system, there would be an accessible facility for all participants. But the private or accessible network system is managed by a consortium of people. Here, each person is accountable to manage his own node.

The features of BigchainDB includes the following points;-

This platform has the capability to deploy various apps using production-ready technologies.

It has low latency and high-speed transaction processing ability.

Moreover, it supports various digital assets with a customization facility. It also helps in building various access permissions for transaction processes.

Advantages of the BigchainDB platform are as follows;-

It’s an open-source/free to use, easily customizable, and a decentralized system with a high-security level. It includes powerful problem solution functionality where there is no single point failure in this system.

Moreover, it doesn’t include any in-built currency.

Blockchain platforms 2020

Apart from those above we discussed, there are a few other BlockChain platforms that are most useful in this era and in the coming future too. These platforms are as follows;-

  •         OpenChain
  •         Hyperledger Fabric
  •         IOTA
  •         Ripple
  •         Multichain
  •         EOS
  •         Quorum
  •         Monero
  •         Neo
OpenChain

This is a public or open-source blockchain platform from Coinprism Inc. This powerful platform helps companies to build a fantastic system for conducting various experiments. Anyone can check the new instance of this technology on this platform within seconds. In addition to this, end-users can exchange values on the ledger as per the rules located by the technology admin.

Moreover, this is based on the peer-to-peer network and has a single point of access control for payment transaction validations. And it also provides a control for the assets exchanged online. Furthermore, OpenChain works on the portioned agreement due to which all the transactions are free of costs in this platform. Besides, every transaction on this ledger confirmed by an asset owner or via a digital signature.

Hyperledger Fabric

The Hyperledger is also one of the best blockchain platforms with open-source availability. Its position stands at 3rd place and is useful for developing these technology-based apps on model architecture. Besides, the platform also offers many technical advances that are necessary for the development of smart apps for various industries. Such as finance, logistics, manufacturing, and technology.

The Hyperledger fabric platform also provides decentralized hosting and storage system of various apps with the smart contract ability.

Furthermore, this platform also supports the use of one or more networks of industry. Each of these networks manages different Assets, Deeds, and Transactions between various sets of Member nodes.

IOTA

This is the latest platform trend within Blockchain platforms with open-source availability. The platform is the most exciting one within this field. It entered this space to change the way of accessing distributed ledger by people. The advantage is that it provides a safe & secure environment for exchanging values and data with no charge. Moreover, it doesn’t contain any chains/blocks but powered by unique technology.

It also leverages the IoT (Internet of Things) power to make improved business decisions. The central ecosystem of this platform helps to update and manage user data.

Ripple

Ripple is one of the Blockchain platforms that concentrates on the financial side of digital currency like Etherium and Bitcoin. This is one of the best-performing currencies in the digital world. Moreover, this platform connects various digital assets and exchanges like payment providers, banks, etc. via a Blockchain network. It helps users to build global payments or custom financial solutions using this platform.

There are more than 300 companies across the globe to develop and deploy many financial assets using this platform. Besides, it also offers rapid payment facilities across different networks, reducing liquidity expenses, etc.

Multichain

The Multichain platform within this technology is useful to build a permission network. This is one of the most popular choices for developing and deploying distributed ledger apps much instantly. Moreover, the tool provides better scaling and performance of using apps. Further, it doesn’t need any programming language skills to develop any new smart contract solution or app.

It offers good support to the Bitcoin platform and is open-source too. Besides, it has a strong following at Github also. Many developers can use this platform to build different key-values or time-series on this technology.

EOS

This is one of the popular blockchain platforms that ease the way of exchange for people with secure smart contracts. Furthermore, the concept is decentralized technology-based that provides users to perform several tasks on EOS. It also doesn’t charge any fee for using this platform. The EOS platform has its own forum of developers and users where they usually share their queries related to this technology. It offers the best solution for decentralized app hosting.

Quorum

The Quorum platform was developed by the popular J.P. Morgan Company. It is also one of the most popular Blockchain platforms for various businesses and financial markets. This is the reason why many financial entities adding it to their daily business operations. Using its allocated transaction ledger system it makes user transactions private & secure by cryptography. With the various principles of privacy and decentralization, the Quorum platform has gained good support from the community of developers.

This is a free one among the Blockchain platforms designed to manage apps needing a high level of private transactions. Moreover, it resolves the problems of record’s privacy on the digital platforms that other Blockchain platforms failed to manage.

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Monero

This platform emerged in 2014 with open-source availability that helps to secure digital cash transactions across networks. Later on, these transactions record on the Blockchain platforms without the need for any 3rd party security. It works on a token system with a good level of transaction privacy. Moreover, this is much similar to Bitcoin crypto-currency.

Further, it offers three-layered privacy measures for the user’s transactions. The Monero platform also supports various coding languages like C, JavaScript, Python, etc.

NEO

The Neo platform is one of the Blockchain platforms with an open-source network that uses blockchain smart contracts for handling digital assets.  This platform provides a P2P digital asset exchange facility without the need for any 3rd parties. But to run the user app on the Neo network requires paying some fee.

Stellar

This is one of the blockchain platforms with an allocated ledger network within this technology. It offers various smart banking tools and wallets for smart and quick transactions. The platform has a secured system that offers financial transaction privacy. Big giants of the financial industry like ICICI bank use this platform to boost up global transactions.

Conclusion

Thus, the above are a few Blockchain platforms that are most useful in financial transactions and their privacy, security, etc. I hope you got the basic idea of these Blockchain platforms and their uses. They are built for providing smart transactions and value for money and time that usually users/clients spent much. Moreover, there are many benefits also of using these platforms that users may get. Many more updates in this regard to come up in the future. To get in-depth knowledge of these platforms and usage, go through the Blockchain Online Training with this platform.