For the first time, people started talking about blockchain technology in 2009 with the advent of the first successful cryptocurrency – Bitcoin. This industry is actively developing today. Experts predict its growth by more than $39 billion by 2025. Therefore, questions about attracting the most promising blockchain platforms have already arisen. We will look at the seven leading blockchain platforms, but first of all, let’s find out what they are and what they are for.
Top 7 Blockchain Platforms to Explore in 2022
It is essential to consider that there are three main types of blockchain platforms:
- Public blockchain. It is a decentralized blockchain network that anyone can participate in. On the other hand, it is usually more expensive and slower to use. It is why they are not traditionally considered a must-have blockchain platform for start-ups.
- Permissioned or permissionless blockchain. The public views these networks, but participation in them is controlled. They are usually very fast and have low latency and high capacity compared to public networks.
- Private blockchain. They are very fast and have zero latency. Most of them do not use cryptocurrencies. And also, they do not have the same security and immutability benefits as decentralized networks for a smart contract.
It is time to find out to define the best blockchain platform that can be more secure and provides smart contract capability.
#1 Binance Smart Chain
Binance Smart Chain (BSC) is a blockchain developed in the summer of 2020 to support decentralized exchanges. Binance Chain is an independent blockchain dedicated to the PoS consensus mechanism. Even though it is optimized for fast decentralized transactions, it lacks smart contracts and strong programming. However, it has smart contract capabilities and is also compatible with the Ethereum Virtual Machine.
Its validators stake and receive extremely low transaction fees. Its high processing speed and interoperability set it apart from other networks. Moreover, since Binance Chain offers cross-chain compatibility features, it will be very promising for blockchain app development.
#2 EOS Blockchain
EOS is one of the secure and scalable blockchain development platforms for dApps. It also can be called an extended version of the Bitcoin blockchain since it supports certain features that the second mainstream technology does not actually have. This blockchain network provides smart contract functionality, dApp hosting, and decentralized storage for enterprise solutions to address scalability issues.
Everyone can create financial instruments on the EOS blockchain to carry out transactions at a lower cost. Most importantly, developers can deploy executable smart contracts according to business needs. Furthermore, it allows developers to expand their ideas by creating different decentralized and liquid network programs. As a result, you can easily develop modern financial apps, games, etc.
#3 Ethereum Blockchain
DIY platforms for decentralized applications have become ideal for developing NFTs, smart contracts, and dApps. EVM (Ethereum Virtual Machine) was first launched in 2013 and has since evolved to become one of the most trusted platforms for deploying Ethereum smart contracts. It has gained a lot of support online, making it a great platform for blockchain development.
The Ethereum platform is run by a non-profit organization with over 250 members. Some top brands using it as their global public blockchain platform include Intel, Microsoft, etc. It also provides a mature ecosystem for developers and technology enthusiasts to build decentralized web programs.
#4 IBM Blockchain Platform
IBM is one of the first companies to use blockchain to create efficient and transparent business processes. The platform offers managed and complete solutions as a service, allowing users to combine their blockchain components in any way they want. In addition, users can use this decentralized platform to create, operate and grow their own distributed ledger networks.
Its blockchain development tools have been responsive, efficient, and user-friendly. To simplify key operations such as setting up, testing, and rapidly deploying smart contracts, IBM has also invested in a user-friendly interface.
#5 Stellar Blockchain
It is an open blockchain network that allows you to store and transfer money. It helps you create, trade, and share digital representations of various forms of currencies. More than 70% of banks are experimenting with modular network architecture to make their services transparent, seamless, and secure. It can help create safe and fast fintech applications, tokens, and digital assets representing financial assets.
It is an open-source payment and currency network. It can process millions of transactions per day and relies on the blockchain to keep the decentralized network synchronized. Stellar blockchain network can issue native assets, trade a peer-to-peer token, and convert currencies after sending. In addition, the web allows for smart contracts, inckuding multi-signatures, and has a fixed annual inflation rate of 1%.
#6 Tezos Blockchain
It is an open-source blockchain platform that can perform peer-to-peer transactions and deploy smart contracts. In addition, the Tezos platform has a modular architecture and an official update mechanism to allow the network to facilitate formal verification.
It was founded to ensure the security and code correctness needed for building decentralized infrastructure. It can be used for smart contracts and platforms for dApps like Ethereum, but its self-replacing crypto engine sets it apart from other blockchain networks.
#7 Tron Blockchain Platform
It is another decentralized blockchain system that aims to build a decentralized network. It allows blockchain developers to use the full protocol and can process 2,000 transactions per second. Tron has no transaction costs.
It is designed with large-scale capabilities in mind and uses a delegated proof-of-stake consensus mechanism to improve the security of the blockchain. There are different ways of developing blockchain apps on the Tron network. It is currently one of the fastest-growing public networks among other best blockchain platforms.
What Are the Main Benefits to Use Blockchain Platform for Creating Smart Contracts
Developing the best blockchain networks is a utopian state for many start-up companies. This complexity has spawned blockchain platform providers. They allow businesses to use more robust blockchain platforms, infrastructure, and services. To validate their needs, they have numerous advantages:
- A decentralized blockchain platform is usually an open database that distributes and manages services by individuals. It also helps track all transactions in a structured and secure way.
- Blockchain technology platforms are designed to be efficient from the start. They allow stakeholders to interact directly with consumers. Therefore, it checks the price and eliminates the involvement of mediators.
- They are the best blockchain solutions that can prevent information from changing. In other words, it is impossible to misuse the data to meet your needs by editing it.
- Through transparency, the platform ensures the accountability of blockchain technology services. Everyone who is part of the blockchain system knows who is responsible for what, so hold them accountable when something goes wrong.
Thus, a blockchain-enabled ecosystem seems to be designed for smart contracts for their protection and successful functioning.
Meaning of a Blockchain Platform
Blockchain platforms are in their early stages and can be called the mainstream of blockchain technology. Each of them contains a timestamp and a link to the pre-transaction. It is a decentralized state transition machine that tracks the lifecycle of digital assets and records activity in an immutable distributed ledger.
Demand for blockchain platforms has never been greater as organizations begin to explore the potential of blockchain by developing blockchain applications. As a result, the blockchain network is constantly expanding. This growth is also reflected in the emergence of public and private blockchains.
The development of blockchain programs is relatively new, and they still have a high degree of uncertainty and confusion. However, it is why many organizations choose platforms based on their reputation and the maturity of the blockchain developer community.
Considering Ethereum’s advantage as a first-grader, the platform meets all of these criteria, making it the most popular. However, it definitely has certain advantages and disadvantages over less popular competitors, and there are almost always better options for enterprise application development.
The choice of the best blockchain platforms largely depends on the use case. For example, building a comprehensive IoT-connected insurance application on Stellar is just as inefficient as deploying a public cryptocurrency exchange. Therefore, expert advice is extremely important to ensure the platform’s suitability and get the most out of it.
However, no matter which platform you choose, you should make your choice on one of the top blockchain platforms that have confirmed their level of safety and effectiveness.
Before making the final choice among the best blockchain platforms, it is worth understanding the features of blockchain in general. You may have dozens of questions related to the topic, and finding answers in one place can be quite difficult. In order to make diving into this topic much easier, we have collected the top 5 most popular questions and given detailed answers to them.
Over the past ten years, small and large companies have appreciated the benefits of blockchain technology and are striving to work in this system. And blockchain applications are the main demand, as it is the easiest way to explore the possibilities of blockchain from the inside.
The choice of Blockchain Platform should be made consciously and considered mandatory criteria.
– The type of blockchain that is most suitable;
– Languages that the platform supports;
– Scalability and transaction costs;
– The presence of security guarantees and the absence of its violations;
– Smart contract functionality.
Buying a blockchain stock is possible. It is a very profitable investment if proper research is done. Buy only from online trusted brokerage companies for digital asset exchanges such as eTrade, Scottrade, Webull, etc.
Many companies almost immediately appreciated the potential of blockchain technologies and smart contracts functionality. Nowadays, they are among the best – Amazon, Anheuser-Busch InBev, BBVA.
The difference between a public and private blockchain is how the stored data is accessed. In the case of a private or permissioned blockchain network, the stored data is invisible to the public, visible only to those who are part of the system. In the case of the public, anyone can access information and become part of the ecosystem.