The production of blockchain-based apps is enabled by blockchain platforms. With the advent of Bitcoin in 2009, this platform sprang to popularity. It was the world’s first cryptocurrency, as well as the first Blockchain platform. So, a Blockchain platform may be defined as a platform that exists to support a specific type of Blockchain. Many different types of platforms meet different company needs–there are even free Blockchain platforms–if you look at any evaluations.
Advantages Blockchain Platforms
For many prospective organizations, building the greatest Blockchain foundation and network from the ground up is a utopian state — an expensive paradise that is more or less impossible to attain once the reality wave of complexity strikes.
Blockchain platform providers are born as a result of this problem. They enable enterprises to take advantage of existing Blockchain software, infrastructure, and services. To prove their worth, potential Blockchain-based solutions offer a slew of advantages:
• Getting everything in one place – Blockchain is a distributed database that is administered by users. It assists in maintaining a systematic and secure record of all transactions. Blockchain systems are used to do this.
• Greater efficiency — From the start, a Blockchain platform is designed to be efficient. Blockchain systems, unlike traditional gateway solutions, allow stakeholders to communicate directly with customers. As a result, the pricing is checked and intermediaries are excluded.
• Fraud prevention – because Blockchain is at the core of the solution, Blockchain platforms prevent information from being tampered with. As a result, misusing the information by changing it to suit their requirements becomes difficult.
• Promotes audibility — by being transparent, the platforms make Blockchain technology services more accountable. When things go wrong, everyone in the Blockchain system knows who is willing to take responsibility for what and can hold them accountable.
How Can It Help You Grow Your Business?
As one of the leading blockchain firms, we chose blockchain platforms based on a subjective assessment of their prototyping simplicity. Based on the following factors, we conducted an in-depth examination of the platforms listed below:
1. How far along is a platform’s development?
Use GitHub or other related platforms to see how active a platform’s development is. Determine whether the platform’s code has been well tested or if it is still in the development stage.
2. What kind of Blockchain are you looking for?
To determine which sort of blockchain your use case necessitates, you must first comprehend the various types of blockchain. Make sure your software development firm chooses a platform based on the network it supports, such as a public, permissioned, or private blockchain network.
3. What languages is the platform compatible with?
Blockchain is still in its infancy, with a slew of new programming languages popping up. Before deciding on a blockchain framework, find out which programming languages the platform’s SDKs support.
4. What is the platform’s popularity?
Examine a blockchain platform’s reputation on sites like GitHub or Reddit.
5. How does the platform establish consensus using the Blockchain Consensus Protocol?
Working on the blockchain platform is difficult if you don’t comprehend the consensus protocol. Because there are several types of consensus algorithms, like Proof – Of – work, Proof – Of – stake, Proof of Burn, and others, it’s critical to know which blockchain platform supports which consensus protocol.
6. Is Smart Contracts functionality supported by the platform?
Smart contracts, which are accountable for validating, triggering, and enforcing actions on blockchain systems, are not supported by all blockchain platforms.
Some of The Blockchain Platform
1) IBM Blockchain
IBM is the first company to adopt blockchain to make corporate operations more efficient and transparent. IBM’s blockchain technology is a widely used platform.
This platform offers a fully controlled and powerful blockchain-as-a-service offering, allowing users to deploy their blockchain components in their preferred environment. This platform allows users to develop, utilize, and grow their blockchain network.
• Allows you to try it out for 30 days at no cost.
• It’s linked to the IBM cloud Kubernetes cluster, which is available for free.
• It’s a community-driven, open-source platform.
• It has a permissions system.
• The Go and Java programming languages are supported by this platform.
Stellar is a payment mechanism based on digital money technology. Every day, it processes millions of transactions. It allows for instant cross-border payments between any two currencies.
In numerous ways, it resembles other blockchain-based currencies. Stellar.org, or the Stellar Development Foundation, on the other hand, is a 501(c)(3) non-profit dedicated to financial inclusivity, tool advancement, and social projects in the Stellar system.
The Stellar network’s programming is created by the stellar team. The software, on the other hand, is unrelated to the business. It also allows us to create, trade, and exchange digital representations of any type of currency, such as dollars, bitcoins, pesos, and more.
• The database on this platform is decentralized and open.
• Confirmation of transactions takes only 2-3 seconds.
• Multi signs and smart contracts are possible with Teller.
• It has a fixed annual inflation rate of 1%.
These days, Ethereum, often known as ETH, is a popular platform. Users can construct new financial applications, decentralize markets, create games, and bitcoin wallets, among other things. The fundamental goal of this platform is to eliminate third-party access to data to track financial instruments.
Ethereum boasts the most core protocol developers, virtual currencies researchers, cryptographers, and mining organizations than any other cryptocurrency.
• This platform has the benefit of quick implementation.
• It is Turing complete and has Smart Contracts functionality.
• It includes a tokenization feature.
• It’s a proof-of-concept system.
• Python and C++ languages are supported.
This platform EOS is well-known. It’s employed in the creation of robust and secure applications. It facilitates the hosting of user dApps as well as the use of smart contracts. It also offers decentralized corporate storage, which aids users in overcoming the scalability challenges that Ethereum and Bitcoin have.
• It improves usability and governance.
• It allows for multiprocessing.
• Users benefit from the platform’s flexibility, measurability, and upgradeability.
• It has a set of permissions.
Open-chain is an open-source platform. It’s made to keep track of digital content in a safe, reliable, and scalable way. It employs Partitioned Consensus, with a central agency for valid transactions in each instance.
This platform is built on a client-server architecture, making it more efficient and dependable. The open-chain blockchain network has no miner involvement, allowing for straight, transparent, and instant transactions.
• It is designed in a modular manner and allows for unrestricted transactions.
• It’s scalable.
• Two-way pegging is created by the gateways.
• It offers a uniform API and intelligent contracts functionality.