The demand for new blockchain development platforms & services is consistently increasing. But choosing the right blockchain development platform is one of the most important factors to consider when implementing blockchain solutions that most under-experienced blockchain development services are struggling with.
Today, we will help you with the best blockchain platforms with significant features, differentiators, strengths, and weaknesses, to figure out the best blockchain development services & platforms.
The 5 Most Popular Enterprise Blockchain frameworks.
Ethereum
Ethereum is the most popular and widely preferred blockchain app development platform in the world. It is the very first blockchain development platform, established in 2015.
It introduced a revolutionary feature known as the smart contract written in Solidity language. Smart contracts are an autonomous type of account on Ethereum that run on a specific address, are used to send transactions, and also have balances.
Another awesome feature introduced by Ethereum is the Ethereum Virtual Machine (EVM), which enables the blockchain development of decentralized apps (DApps).
Major Advantages of Ethereum
- Highly mature
- Introduce & supports smart contracts
- Great community of developers
- Permission less ledger type
- Supports cryptocurrency, using a token called Ether
Ripple
Ripple is more focused on the blockchain development of financial applications on the blockchain network, focused on connecting digital asset exchanges, banks, and payment providers.
RippleNet brings liquidity solutions so that businesses don’t need to go for pre-funding and fosters decentralized infrastructure where a payment can be made in <3 seconds. You can get complete transparency on RippleNet.
Major Advantages of Ripple-
- Extremely fast. transactions occur in less than 5 seconds.
- It can work directly with banks.
- more accessible alternative to traditional banking
Cardano
Cardano is a next-generation blockchain platform, the Cardano blockchain aims to build dApps that are fast and scalable.
Blockchain development using the Cardano framework offers plenty of features like interoperability, scalability, transparency, and legitimacy for modern centralized and decentralized finance applications. The Cardano blockchain is looking forward to plenty of dApps enhancing global payments.
Major Advantages of Corda:
- Permissioned ledger
- Supports smart contracts
- Supports different consensus algorithms
- Strong community support
- High level of service completeness for finance
Stellar
Stellar is an open network blockchain platform that efficiently focuses on fast & secure fintech blockchain app development. Several leading banks are experimenting with the Stellar blockchain network to make their services, transactions-seamless, secure, and transparent.
Major Advantages of Stellar-
- Decentralized and open-source
- The transaction confirmation time lies within 3 – 5 seconds, facilitated by its consensus mechanism.
- Faster-support thousands of transactions per second.
Hyperledger Fabric
Hyperledger Fabric is a distributed ledger framework developed by the Hyperledger Hub. The Hyperledger Hub is a project developed by the Linux Foundation that fosters the open development of both centralized and decentralized blockchain platforms.
Hyperledger Fabric has a permissioned ledger and modular architecture, similar to Ethereum. This advanced modularity gives Fabric a plug-and-play kind of interface where you can select your preferred services- consensus algorithm, smart contracts types, etc.
Major Advantages of Hyperledger Fabric
- Permissioned ledger
- Modular architecture offers a plug-and-play interface, easy to learn and use
- Support smart contracts
- Strong community support
- Full-featured
- Evolving rapidly
With the growing adoption of blockchain technology, the list of enterprise blockchain platforms is extending day by day. But figuring out the right platform is the real challenge for businesses these days.
So next we are going to help you with the action plan to help you find the right enterprise blockchain platforms.
How to Choose Your Blockchain Framework?
We suggest you look for the following characteristics to consider when choosing a framework.
Evaluate technical aspects
Whether it has permissioned or permissionless ledgers. Permissioned blockchains are more efficient when it comes to transaction speed, security, and scalability.
The original blockchain concept was permissionless, meaning that anyone with the appropriate software can get access to read the blocks. while permissioned blockchain restores some of the control that was originally taken away to a centralized institution. The centralized institution vets potential members and determines who can access the blockchain.
Whether support cryptocurrencies and the tokens that they exchange because not frameworks include cryptocurrencies.
Whether the frameworks provide tools for working with blockchains, services that store and operate on the blockchains, and currency for handling transactions.
Evaluate Performance
If the framework includes many features, functionalities, and dependencies that you don’t need, it could be wasting memory, storage, and slowdown blockchains. So it’s necessary to evaluate its performance.
Read also : Top 10 Reasons to Outsourcing Blockchain Development Services
Have a Check on its Extendability
Before finalizing any blockchain, don’t forget to check its extendability capabilities, considering your future needs. Make sure, can the framework meet those needs.
Check Stability Level
How long has the framework been in use, and does it seem likely to be supported throughout the life of your application? The most popular frameworks maintain great stability so that they can inspire your confidence.
Community Support
It should go without saying that implementing a blockchain framework should be free/open source software so that the project can’t be captured by one company or evolve in a direction that exploits its users. But most open source licenses do not guarantee active and empowered community support. Have an activity check on forums and in the codebase to make sure that activity is frequent and represents diverse sources to support.
Read also: 11 Blockchain Development Challenges Resisting Blockchain Adoption.
Get The Best Blockchain Development Company
The above-listed features can help you evaluate each framework and decide which combination would best fit your needs. But, here we want to mention getting the best blockchain development company that could smartly manage all these aspects on your behalf. Ensure you get the best blockchain development services to use – Dapps Development & Audit, DApp Platform Development, Cryptocurrency Wallets & ICO Development, or Smart Contracts.
Looking for blockchain development in USA, Binary Informatics is the best blockchain development company that can be the perfect fit for your needs.
BI provides businesses with complete end-to-end blockchain development services. Our great expertise, technology-agnostic approach, purpose-built architectures, and end-to-end delivery model accelerate your enterprise blockchain deployments. Feel free to reach our blockchain development consultant, and speak up about your project expectations.
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