This blockchain technology has emerged as the most powerful solution or any business. With its help, you cannot just execute the transactions securely but you can also make every segment of operations more conducive. It brings you closer to the concept of decentralization and gives you better insights into the distributed ledger. Once you get familiar with this solution, you realize its potential and make it more productive for everyone.
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Moreover, its implementation is not just limited to a few industries, it can be applied to any line of work and ascribe the success of your enterprise. Many people that in order to use blockchain, you have to get cryptocurrency. That’s not true at all, blockchain can work as a standalone technology and it can also help straightening the issues of your finance. With this technology, you get to enhance productivity and you can make it absolutely effortless.
By deploying this technology into your operations you, enable it to churn out profits in a ceaseless fashion. You can make things more scalable and deliver incredible results at the same time. But how exactly can you do that? The answer to this question is a blockchain platform that makes this technology adaptable for every business.
Table of Contents
Before we delve into the blockchain platforms, let us know more about the technology.
Define Blockchain
It is a decentralized distributed ledger that holds information with the help of cryptography and some other elements such as timestamps and smart contracts. The co-existence of multiple solutions in a single thread gives you more reliability and it also helps in giving high assurance. It works on a consensus mechanism and gives you solutions that make things better in every prospect.
There are public keys and private keys that give you a very timely response to every question and even if they are not properly used then, you will not get the efficacy you want. Let us understand the basic components of this technology first.
Public Blockchain
This is an open-source blockchain model that involves many entities like developers and miners at the same time. Here are its salient characteristics:-
- Its operations are fully-decentralized
- The transactions are totally transparent
- You can involve tokens if you want
Private Blockchain
Also known as permission blockchain, this network can be joined only after taking permission from the authorized personnel. Here are its salient features:
- Its operations are totally centralized
- Transactions are not visible to anyone
- The involvement of token is optional
Here’s how blockchain is helpful to your business
Immutability
If the data is alterable there is always of losing it. Blockchain ensures that there is no risk or scope of modifying the information in any way and if anyone tries, the attempt becomes a debacle.
Transparency
When it comes to giving transparency, no other technology does it better than blockchain. It is a network that establishes a large quantum of transparency that you don’t see elsewhere.
Decentralized Service
With decentralized service, everything gets subtle and clear, you don’t have to go through any issues and complex mechanisms. Irrespective of the field you are in, you can get a high level of decentralization.
Security
This something that no one takes lightly and you have to be more careful about it because the entire future of your enterprise depends on this factor. The strengthening of security is a very important aspect and it can be done perfectly with blockchain.
Considering all these benefits that you get this technology, it is a must that we talk about some platforms that have done an amazing job in making businesses familiar with the concept of decentralization.
Related: How Does Blockchain Benefit a Business?
Notable blockchain platforms in 2020
Ethereum
It is the most valuable cryptocurrency after blockchain and is credited for making blockchain accessible for every business. It is also the most conducive network that comes with an open-source mechanism. The development and deployment of this technology are very easy, it also makes the implementation of smart less time-consuming.
Ethereum blockchain works with Ether and creates a perfect ecosystem for the generation of multiple coins. It facilitates all the tasks with high priority and gives you every chance to make the most of the decentralized technology. With this platform, it is easy to reduce the downtime and control the monitoring of activities as well.
This platform allows us to create programs that work for different industries, it also helps you get a better understanding of the consensus algorithm. The working of this mechanism gives you better chances of success and it improves the performance in every possible way. Along with that, the support of the different smart contracts and ledger types increases.
Hyper Fabric
Hyperledger Fabric or Hyper Fabric is a new open-source framework. It is one of the frameworks of hyperledger that have designed to make information and transaction more accessible than ever.
It was originally built for blockchain-based applications and gives you multiple components that make the working of blockchain more flexible. This year, the updated version of Fabric 2.0 got released and it came with some amazing features. It works with a streamlined data sharing process and decreases the time of transactions which is very helpful for every business.
At the time of making an application based on this platform, you have to very careful about not demarcating the industry limits. That’s because it can get implemented on various lines of work and it also comes with its own plugins. The way smart contract works is peerless and it gives you more certainty about the permission. It also supports various languages and one of them is Python.
EOS
Launched in 2018, the EOS blockchain is known for its purposeful actions that can be tweaked as per the development strategies. It has come up with a perfect mechanism that provides a high amount of leverage without hampering the scalability.
There are many other platforms that charge a considerable amount of fee but this one provides all the services for free. It works on proof of stack mechanism and its community if growing rapidly. You can discuss any new ideas on the forum and get things working at an impressive speed as well. The benefits can also be availed very easily and the problems can be solved without going through the complexities of blockchain technology.
If you talk about its industry perspectives, you get a permissioned ledger that allows you the development of diverse programs. It also helps in the induction of different token as it works on proof of work. The developers who are aware C++ can work on its algorithm and make it accessible for different enterprises.
Ripple
As a public blockchain ledger, Ripple makes cross-border payments very easy and quick. Because of its feasible structure, this platform has considered for organizations like Deloitte, SBI Holdings, MoneyGram Internation, American Express, and Santander for blockchain-based payments.
Due to its scalability and speed, it can be easily used by big and small companies. It helps you enhance the potential of your company and makes the operations flawless in every possible manner. When it comes to integrating processes together, the integration of the blockchain platform works perfectly and it is matchless at many fronts.
By working on a voting mechanism, things get easily centralized and the functioning of the smart contracts can be ameliorated. Though it is recommended for finance operations, features of this ecosystem make it workable for many other domains. It makes the existing payment processes safer and faster effortlessly.
Stellar
Much like ripple, the stellar platform is also a blockchain-based ledger that facilities the pairing of different currencies as well as the development of different banking tools. The working of these tools helps you determine the speed of work and it gives you more precision as well.
Lately, quite a few startups chose this program as their financial instrument and they got extremely positive results. It eased the operations and gave better assurance for getting over the toughest challenges. When you get more challenges in your work, this platform eases the pressure.
Talking about the technical aspects, you must know that this program gives you a high level of security with huge network support. It works on consensus protocol and helps you get more elevations as well. It also helps in adopting the blockchain and making it structural for the development of language-based apps.
R3 Corda
RC Corda was launched in 2015 and it has become a go-to blockchain platform for many companies today. It works on an open-source distributed ledger and safeguards the data in a very unique manner. It encourages maximum participation from the existing members to deliver impactful results and also give different tools to maintain performance.
Being a cutting-edge blockchain platform, Corda has been able to alleviate lots of problems that bugged the business owners earlier. It makes token-based payments more responsive and helps the authorization to get more sequential yet speedy.
This platform has been deployed by the enterprises of many industries including healthcare, supply chain, and retail. Its adoption is increasing because has a high quantum of Byzantine fault tolerance which is a highly-productive consensus algorithm. It is compatible with languages like JavaScript and C++.
Waves
Another open-source blockchain platform that ameliorates the working of tokens and gives more focus on the creation of a decentralized exchange. It even helps subside various issues of sanctioning of coins while development. It was launched in 2016 and it also made the working of digital assets more flexible.
With complex coding and a profound matching system, this fintech solution helps with diverse problems and fixes them quickly. The utilization of different payment systems get easier with this platform, it makes coding even better and helps in the development of more apps.
Waves makes the use of proof-of-stack as a consensus algorithm and smart contracts for building network support.
Quorom
This platform was launched by finance giant JP Morgan and it is also the most preferred blockchain system for various other companies in this domain. Using the voting-based mechanism, it makes the algorithm more descriptive and the transactions get swifter.
It is already being deployed by many organizations and its technical specifications make this possible. Though it does not support smart contracts, it is compatible with Python and works with a consensus algorithm too.
Monero
In terms of functionality, Monero is quite similar to Bitcoin. It was launched in 2014 and it soon got very renowned because of its security and other features. For a large number of traders and businesses, it is the most productive blockchain platform that never fails to give effective results.
With a string of privacy measures, this platform makes the working of your organization very scalable and easier as well. It gives you the power to switch to different networks. It involves a pluggable framework and extends its ambit towards different languages. For businesses that need rapid growth without compromising the confidentiality of finances, this is an ideal choice.
Open Chain
This open-source distributed ledger was developed by Coinprism and it is very suitable for an array of enterprises. It preserves digital assets in the most peculiar way and there are many transactions that get validated through this system. It aids the safekeeping of many coins in one single network and makes their security absolutely flawless.
The validation of assets happens at a minimum cost in this mechanism and it gives you more time to create blockchain-powered programs. Moreover, the network type helps you figure out the validation problems and it also gives you better value at every front. The overall management of consensus and other components happens seamlessly as well.
The significance of this particular platform is increasing day by day and it is including more security and transparency. It has been able to shorten the time of operations without a big change in the core structure. When it comes to functionality, there are different terms and you can get familiar with each one of them without any issues.
Upshot
You might that is very difficult or costly to get one such Blockchain Development Services for your business, but it is not. Technoloader is a company that can help you get the most productive and befitting blockchain platform for your company. We are blockchain mavens who have helped many startups use the potential of this technology.
Here are the blockchain-based services that you can get from us:
- Private Blockchain Development
- Crypto Exchange Development
- POC Blockchain Development
- Hyperledger Development
- DApp Development
- Token Development
- Smart Contract Development
Discuss the prospects of your project right now! Call and Whatsapp any time at : +91 7014607737 | Skype : technoloader | Email: [email protected] | Telegram : @vipinshar
