When talking about technology, it is repetitive to say how technology is evolving every day. But then, that is the point which makes it exciting and keeps everyone on their toes. Scientists, researchers and entrepreneurs are spending sleepless nights to bring the next big thing and take technology to a new height.
Blockchain technology, among many, is one topic that has been continuously trending since its inception almost a decade ago. It has changed how transactions take place and have led to the creation of new projects for the world to move a step forward in the technology space. In this article, we shall take a look at some of the top blockchain projects presently available in the industry.
Note that the platforms listed below are in alphabetical order.
Made an introduction in 2015, Ethereum is considered as the leading programmable blockchain in the world. Similar to other blockchains, Ethereum comes with a native cryptocurrency called Ether or ETH. Thousands of developers use Ethereum to create new applications related to cryptocurrency wallets, financial apps, decentralised markets, games etc. The community of Ethereum is considered the largest and most active in the world with core protocol developers, crypto-economic researchers, cypherpunks, mining organisations, anarchist and fortune 500 companies a part of it. Ethereum aims to eradicate internet third-parties who store data and track complex financial instruments.
An initiative of Linux foundation that came up in the year 2016, Hyperledger is an open-source community aimed at creating stable frameworks, tools and libraries for blockchain deployment.
It also streamlines the collaboration between enterprise, developers and business in the field of Distributed Ledger Technology (DLT). Using an umbrella strategy, the projects promote a range of business blockchain technologies such as smart contract engines, graphical interfaces, distributed ledger frameworks, application, and libraries. Hyperledger aims to provide a neutral and open community with infrastructure supported by technical and business governance. Hyperledger comes with various projects such as Burrow, Indy, Fabric, Iroha, Sawtooth and Grid. A number of applications built on Hyperledger Project are HealthVerity, AID:Tech, DigiPharm and TE-Food.
Corda is the only open-source blockchain platform designed specifically for business. A distributed ledger platform, Corda can be used to design applications for financial institutions. With a permissioned private network, one can record, manage and synchronise contracts and share data among partners. Corda can be used to reduce transactions, keeping cost in check and streamline business operations. The source code for Corda is available on GitHub under Apache 2 licence.
EOS is a blockchain platform, which secures and scales thousands of transactions in seconds. EOS aims to provide a complete operating system for decentralised application through services such as authentications, cloud storage and server hosting. It is available both as a public and private blockchain network to customise business needs. It structures each block into sequential cycles, which reduces latency and maximises performance.
Based on Ethereum, Quorum is a DLT aims to provide permissioned implementation of Ethereum to support transactions and contract privacy. The functions of Quorum are similar to that of Ethereum, but some of the difference that can be pointed out is the network and peer management, enhanced transaction and contact privacy, voting-based consensus mechanisms and better overall performance. A product by J.P Morgan, Quorum is designed for financial used cases and is an enterprise-focused blockchain infrastructure. Quorum has sidestepped one of the biggest hurdles in the blockchain ecosystem, which is speed. Quorum is capable of dealing with thousands of transactions per seconds, which gives it an upper hand compared to Bitcoin and Etheruem rates.