Blockchain technology has appeared as one of the Hi-tech technologies to convert the financial services industry.
The technology limited to crypto has now emerged as a conventional idea. This technology has now been utilized by supply chains, healthcare, logistics, finance, and many more to smoothen business processes with the growing culture of blockchain platforms. If you are still thinking about what those blockchain platforms are, you’re at the right place. Here we have highlighted the top 10 blockchain platforms influencing the tech world.
What are blockchain platforms?
Blockchain platforms are the decentralized technology system in which the transactions made in electronic money are listed and retained in many interlinked computers.
Ethereum, hyper ledger fabric, IBM blockchain, stellar, etc. are some companies that have built blockchain frames that allow the public to develop and host apps on the blockchain.
Top 10 blockchain platforms in 2024
Here we have assembled the list of the top 10 blockchain platforms for you that provides better scalability, security, and efficiency.
Ethereum is the leading and top blockchain platform in 2024. Ethereum was introduced in 2013, and with its growing popularity and usability, it has become the fastest blockchain platform. Ethereum development company also supports decentralized applications (DApps) and smart contracts.
Ether is the cryptocurrency that is owned by this blockchain platform. Apart from the ether, it also has many token standards like ERC-20 for DApps, ERC-77 for better functionality, ERC-721, AND ERC-1155 for NFT.
Ethereum uses the proof of work blockchain mechanism. This blockchain platform is the most famous preference among NFT traders because of its capacity to offer speed and smoothness. It lets users download games, bitcoin chains, decentralized markets, innovative financial apps, etc.
- IBM blockchain
IBM blockchain platform is a very reliable name, and it is a private, decentralized blockchain network. It has been trendy among less risk-averse enterprise clients. This blockchain development company provides blockchain platforms that are fast, functional, and customizable.
The IBM blockchain company also has significant progress in banking, financial services, and supply chain. The features of IBM blockchain are user-friendliness, high customization, and scalability.
- Hyperledger fabric
Hyperledger Fabric is an open-source and permissioned blockchain framework. It is one of the fastest and most secure blockchain technologies which was introduced in 2015. This platform is helpful if you compare hyper ledger fabric to any other platforms. Due to its ability to isolate transactions in channels faster, it is considered as one of the best blockchain platforms 2022. It also improves the privacy option. This blockchain platform supports proof of elapsed time accord mechanism.
According to its proponents, this blockchain platform ensures high-level transactions with low dormancy of decisiveness and confirmation. Industries like fintech, supply chain management, healthcare, defense, etc. can use this blockchain platform.
- Hyperledger sawtooth
Hyperledger sawtooth is another open-source blockchain company. The primary purpose of this metric is to focus on enterprising solutions for deploying and building distributed ledgers by providing exceptionally interchangeable and versatile platforms for executing transaction-based updates to shared states between distrustful parties synchronized by consensus algorithms. In the various popular blockchain-based systems, core and apps are hosted and accomplished on the equivalent platform.
- R3 Corda
R3 Corda is a blockchain or distributed ledger technology; there is a debate on this subject that uses an innovative consensus mechanism. In this, the transactions are cryptographically linked, although it does not intermittently batch multiple transitions into a block. It is a scalable, authorized peer-to-peer distributed ledger technology.
The main benefit of R3 Corda is that all the transactions are processed in real-time; this improves performance compared to other types of blockchain platforms. Also, it has a fast operational speed and optimizes the cost of intercompany cooperation.
The technical preview of Corda payments has also recently launched.
Tezos is another successful blockchain platform. Though Tezos and Ethereum have similarities, they also differ from each other. This metaverse development company has the potential to progress quicker as compared to Ethereum 2.0. The second difference is the network can be enhanced without a hard fork after the Delphi update may also reduce gas costs by 75%.
This blockchain platform supports an actively enhanced protocol and modular software that enable it to adapt to new uses. Tez is the cryptocurrency of tezos blockchain platforms. Tokens of tezos blockchain could be convertible or non-convertible. This blockchain uses proof of stake networks.
Top blockchain companies choose EOS.IO because of its ability to remove transaction fees. Its blockchain platform also claims to process millions of transactions per second. This EOS blockchain platform uses proof-of-stake algorithms to accomplish transactions at the minimum possible price. Some small and medium-sized companies also use EOS due to its options like security and scalability. It also provides support for decentralized applications, making it a suitable platform for various industries.
Stellar is a leading blockchain company focusing on creating, sending, and digital trading assets and designing the world’s financial system to work together on a single network. APIs ADKs help the world to finance with blockchain technology. The stellar blockchain development company has developed this stellar blockchain. Many companies have adopted it to trade internationally and exchange money across borders.
It offers a ledger explorer and analytics platforms for an effectively distributed ledger with digital assets stats, network statistics, etc.
It was created in 2015 by the co-founder of Ethereum and had very similar features. It runs on a POS network, whereas Ethereum still uses the POW network. Due to this reason, the Cardano blockchain platform is a faster and more eco-friendly platform. Cardano blockchain development company is the first blockchain that introduces proof of stake.
It is another open-source and decentralized blockchain platform. The important cryptocurrency of this blockchain platform is known as Ada. It is an ecosystem that grants other developers to generate tokens, DApps, or other use facts for scalable blockchain.
Ripple is one of the best blockchain platforms. It is famous for its ability to operate transactions and conversions quickly. It works both as a digital payment and cryptocurrency network for financial services. Ripple has its token called XRP. This blockchain company converts currencies super-fast, for instance, USD, Euros, etc.
This platform also converts cryptocurrencies like bitcoin very fast. So as you might have considered already, this blockchain platform is a popular choice in the financial sector of the whole world. This blockchain uses a consensus mechanism instead of blockchain mining.
Blockchain technology is evolving and accelerated, meaning new features have emerged with additional features and new releases. No doubt that there are plenty of blockchain platforms available around the world, but enterprises need to identify the right platforms to build on.
For that reason, we have given you the top 10 blockchain platforms that the top blockchain companies, like Microsoft, Intel, etc., used. From the business point of view, it is best to take the help of an experienced mobile app development company like Dev Technosys to develop a blockchain application.