The blockchain technology is a decentralized ledger that stores the record of all the transactions that takes place across a peer to peer network. Without the need of central authorities, this technology allows the participants across the network to confirm their transactions. For cryptocurrencies, blockchain technology is very important. Now leet’s look at some of the best blockchain platforms of 2020.
Best Blockchain Platforms Of 2020
Let’s see the importance and features of blockchain technology.
- Blockchain technology ensures safety for your crypto money
- Less chance of discrepancy that can be created
- Blockchain technology is inexpensive than any other modern technologies
- Reduces the waiting hours by processing transactions quickly
- Allows the individual to individual transactions without involving a third party
- Easy to identify if fraudulent activities have taken place
To develop those decentralized blockchain applications, blockchain platforms are required. Now, look at the best blockchain platforms for 2020.
Ethereum created by Vitalk Buterin in 2014 created a buzz in the market. It is one of the highly active open-source and best blockchain platform of 2020. You can develop decentralized blockchain applications easily using Ethereum and it is based on Ethereum virtual machine that enables a run time environment.
VeChain launched in 2015 focuses on building an ecosystem that integrates blockchain and IoT technology. It enables to build a blockchain network that allows transparent transactions.
Hyperledger Fabric is an extraordinary blockchain platform that allows building blockchain applications in a modular architecture. This platform also enhances various advances in technologies that are decisive for the smart application development.
IBM Blockchain offers a permission network which most of the companies are looking for because of the security issues. The supported programming languages are Go and Java.
NEO is a popular blockchain platform designed by the Blockchain R&D company. It is used to develop blockchain decentralized applications. Neo works better than any other software due to the delegated byzantine fault tolerance mechanism.
Open chain software is a secure and safe open source distributed ledger technology platform. It is launched by the coinprism which is well suited for the organizations that desire to preserve their digital assets.
Matic network is the newest and fastest-growing blockchain platform. It offers security and decentralization of the Ethereum blockchain. Through its plasma-based second layer solution, it also provides scalability.
For an instant building of a deployment, Multichain is the best blockchain platform. It provides better performance and app scaling while comparing with other Blockchain platforms. The main advantage of the Multichain software is that it’s not required to study new programming knowledge to develop smart contract software and applications.
Zilliqa is a popular platform build on a new programming knowledge known as Scilla. It is viewed as a major competitor for Ethereum. Zilliqa overcomes the issue of scalability which is faced by two major cryptocurrencies, Bitcoin and Ethereum.
Utilize the above-given information regarding the Blockchain platforms before starting your blockchain-powered app development. We hope that you got an idea to select the best blockchain platform for 2020. Comment your doubts if any in the comment section given below and we will try to answer them as soon as possible.