Top Five Platforms Used For Blockchain Development
Blockchain development’s capability of allowing efficient, transparent and instantaneous transaction making it more popular among various industries. The use of blockchain technology is not limited to finance and banking whereas it is highly suitable for other fields like healthcare where medical records can be captured electronically without the risk of getting deleted or modified. Entertainment sector is there which can make the best use of it for gaming and music streaming. This technology is for every industry, you just need to understand how you can relate its powerful characteristics to the need of your business so that they can work together for seamless output. Every industry will have different needs, goals, expectations and working system so how come one technology can fit all. The thing which makes the difference here is the platform, blockchain technology is used on different platforms. Let’s discuss top five platforms used for blockchain development: Chain Core: It is a platform that has been designed exclusively for financial services and is responsible for controlling all of the assets on a blockchain network. It enables an immutable ledger that records transactions without the fear of duplication. It also controls multi-signature accounts for better security and privacy Corda: Corda is a decentralized database platform which came into existence with the need of satisfying regulatory, privacy and scalability concerns of a blockchain network. It restricts access to data only to those who have been specifically authorized to it rather than the entire network or can say it restricts the global broadcasting of data across the network. This is the only distributed ledger platform that manages and controls legal agreements by automation and also supports to multiple consensus providers having different algorithms on the same network. Credits: Credits platform is the first self-governing blockchain system that offers a unique technical implementation of blockchain technology. It is the solutions to the problem of slow speed and high transaction costs. It can execute more than 1,000,000 transactions per second. There is no other platform which can provide smart contracts execution speed near to this. It can be differentiated from other platforms on the basis of its extended application programming interfaces, schedules, unique functions and smart contracts. Elements Blockchain Platform: This is the unification of the Elements blockchain platform, a multitude of feature experiments and extensions to the Bitcoin technology. This platform enables anyone to build their own networks using sidechain pegged Bitcoin or arbitrary asset tokens. One of the most powerful features being offered in elements is a confidential transaction, it means transaction details would be visible to those only who are involved in the transaction. It is one step beyond the usual privacy provided by blockchain system. Ethereum: Ethereum is an open source blockchain platform (just like bitcoin, no one controls or owns it) that allows anyone build and use decentralized applications that run on blockchain system. But contrary to the Bitcoin protocol, Ethereum was designed to be versatile and flexible. It is easy to create new applications on the Ethereum platform, and with the Homestead release, it is now safe for anyone to use those applications. It is one of the most mature blockchain platforms which is widely adopted by cryptocurrency community.