With the growing popularity of blockchain, everyone has come to see the technology’s potential. Initially, blockchain disrupted the financial industry, but its applications are currently being researched across a variety of industries, including software development.
Since enterprises have started to investigate the potential of blockchain by developing blockchain apps, the demand for a blockchain development platform has skyrocketed. Another reason why the number of blockchain platforms is growing every day is the growth of dApp development.
The creation of blockchain applications is aided by blockchain platforms. If you want to design a bitcoin trading app, for example, you’ll run into a number of regulatory restrictions and backend complications that will slow down the development process. The usage of efficient blockchain technologies can eliminate this complication. These platforms assist you in reducing the time and effort required to build an app from scratch.
To choose among the best blockchain application platforms, you must first learn more about each one. This blog will inform you about the best blockchain platforms for developers to design and host blockchain apps.
Hyperledger is a Private blockchain and It’s one of the more user-friendly blockchain systems, with a modular framework that allows you to create blockchain programs. This platform also has advanced technical features that are important for professional app development in a variety of industries, such as supply chain, banking, and manufacturing.
Without a doubt, this is one of the brightest platforms available, since it combines distributed hosting and app storage with smart contract functionality.
Ethereum is the public blockchain, Ethereum is the world’s second-largest cryptocurrency. At the time of writing, its market capitalization was $163.40 billion. Vitalik Butterin, a Canadian-Russian programmer and writer, founded Ethereum in 2014.
It is a well-known blockchain platform that has had a lot of ups and downs in the market. Surprisingly, it is still considered one of the best blockchain platforms in 2021.
It is, without a doubt, the best platform for developers to create dApps (decentralized applications) and democratic autonomous organizations (DAOs). Ethereum also provides extremely secure cryptocurrency trading, smart contracts, and a variety of other features.
As a result, this platform is gaining traction among developers as the best platform for developing enterprise-level blockchain mobile apps.
It’s one of the best platforms for all kinds of cross-border transactions. It is also one of the most popular platforms among banks, communities, and payment providers. The software also enables banks to transact directly across national borders.
It’s one of the most solid blockchain platform ideas for everyone from individuals to major corporations. Its incredible cross-border payments feature aids it in maintaining control over the payments area.
EOS is a blockchain platform to build decentralized industrial applications. This method is supported by strong underlying infrastructure.
The major goal of EOS is to provide a user-friendly and business-friendly tool for developing decentralized applications (dApps) while overcoming the limitations of other blockchain platforms such as Ethereum.
One of the most significant constraints preventing blockchain technology from becoming widespread is scalability.
It’s a productive open-source network built on the decentralized technology philosophy. The EOS platform primarily allows the end-user to do numerous tasks.
The platform is a high-end blockchain platform that allows consumers and organizations to make faster and more cheap cross-border payments.
Developers may use the Stellar blockchain platform to create mobile wallets and smart banking apps like PayPal.
Neo is a community-driven decentralized open-source blockchain platform based in China. Neo enables developers to digitize and automate asset management through smart contracts. It also features robust native infrastructures such as decentralized storage, oracles, and domain name service, which serve as the foundation for the Next-Generation Internet.
To handle e-assets, this platform employs blockchain smart contracts. NEO also meets the needs of P2P currency and online asset trading without the involvement of a third party.
The “Neo” cryptocurrency is owned by the Neo blockchain platform.
It assists you in paying transaction fees on the Neo platform so that you can run your app.
Different forms of digital assets are handled by the Neo infrastructure. It enables you to use digital certificates, allowing you to launch your app on the Neo network with no security concerns.
R3 is a blockchain software company that caters to businesses. They have 200 members from various industries in their ecosystem. R3 and the rest of the teamwork on the Corda platform and Corda enterprise platform for business use cases.
Corda provides an appealing approach for financial transactions and smart contracts with high security, and the R3 consortium has a large following in the financial industry. Bank of America, HSBC, Intel, and Microsoft are among the most vocal supporters. It facilitates the use of tools that automate business logic and allow it to run across company boundaries. Corda Payments, a technical preview of which was just released, streamlines the process of integrating distributed payment capabilities into apps.
It’s another open-source shared ledger blockchain platform with scalability. It also enables enterprises to directly transact smart contracts. This platform operates on a secure network that allows authorized users to gain access to certain data.
Coinprism, the firm behind the colored coin standard Open Assets, developed the platform OpenChain.
OpenChain is an open-source distributed ledger system that is well-suited for businesses that want to handle digital assets in a secure and scalable manner. Unlike Bitcoin’s consensus method, it employs Partionned Consensus, in which each instance has just one authority for transaction validation.
Because OpenChain has no miners, transactions are free and can be verified by the asset administrator, making it more efficient than other platforms.
It is an open-source shared ledger blockchain network that is extremely secure. It’s a good idea for companies who want to protect and maintain their online assets.
It is also regarded as one of the most important blockchain platforms because of its digital asset exchange and peer-to-peer network.
Tron is a distributed ledger technology (DLT) operating system. Users can primarily utilize it to create decentralized apps and exchange media assets. TRX is a cryptocurrency that is used to gain access to specific operating software features.
TRON, which is driven by its own cryptocurrency called TRX, is another name to add to our list of the finest blockchain-based decentralized digital platforms. One of TRON’s main goals is to create a decentralized web similar to Ethereum.
The platform is built on a few principles, one of which is that all information on the forum is public and not subject to central authority. In exchange for their services, content providers might be compensated with digital assets such as the TRX currency or other currencies backed by TRX.
When it comes to transaction speed, the TRON blockchain technology can handle around 2000 transactions per second. There is also no transaction cost associated with it.
Hedera Hashgraph is built on blockchain-like Distributed Ledger technology. It is based on a graph-like structure in which all nodes communicate with one another. Their communication is documented through the creation of a graph of linkages. All data or information is saved in events.
The Hedera Hashgraph platform, which provides a unique kind of distributed consensus, is a lightning safe, fast, and fair platform that does not require the computation of a heavy proof of work method.
Hedera empowers and enables developers to create a completely new type of scalable decentralized applications.
Smart contracts on the Hedera Hashgraph platform, like any other software component, can be made dynamic. The smart contracts released with a list of the public keys of arbitrators can be modified to address bugs or add new features because it has an optional mechanism that permits
If a selected arbitrator agrees to a smart contract amendment, the transaction with the updated bytecode is approved by the arbitrator’s keys, and the change is made.
When selecting a blockchain platform, it’s crucial to consider factors like security, privacy, transaction speed, decentralization, platform acceptance, and scalability.
Blockchain platforms offer benefits like proof of work with a consensus algorithm, built-in smart contracts, governance structures, and enhanced security features, making them ideal for various applications.
In 2024, some of the top blockchain development platforms include Ethereum, Hyperledger Fabric, Corda, EOS, and Cardano, each offering unique features and capabilities for blockchain projects.
Blockchain technology can streamline supply chains, enhance traceability, simplify trade, and improve financial transactions. It can be used to track products from manufacturers to retailers, ensuring transparency and authenticity.
Staying informed about the latest trends in blockchain development allows developers to choose the best programming languages and tools, engage with the blockchain community, comply with regulations, and maintain transparency and documentation for successful blockchain projects.
