Top 6 Blockchain Platforms for Your Projects in 2023

According to MarketsandMarkets Research Pvt. Ltd., the Blockchain market is poised to attain a substantial valuation worth $67.4 billion by the year 2026. Businesses are embracing blockchain platforms to optimize their supply chains, enhance traceability, simplify trade operations, and elevate financial transactions. Currently, blockchain integration is applied to various sectors, including the ever-evolving domain of software development. The demand for Blockchain Platforms is growing due to enterprises developing innovative blockchain applications and the expansion of dApps, which is driving innovation and transformative solutions. This article gives you a brief overview of the top 9 Blockchain platforms you must know in 2023.?

What are Blockchain Platforms??

The blockchain is a chain-like database structure meticulously designed to track and record physical or virtual data transactions. Within this architecture, the data is stored in a box-like structure and interlocked together. Because this data is connected, there are likely chances of intricacies to delete or amend.?

Blockchain Platforms for Developers

1) Ethereum?

• Ethereum is one of the premier blockchain platforms.?
• Empowers developers to build decentralized blockchain apps enriched with smart contract functionality.?
• Ether (ETH) is its native cryptocurrency
• Fosters the creation of cutting-edge smart contracts, DApps, and NFTs.??
• Key benefits include: Volatility, liquidity & scalability

2) IBM Blockchain Platform

• IBM provides an enterprise solution that helps developers to create blockchain networks?
• Consists of easy-to-use interface?
• Benefits include: Enhanced trust, security, transparency, cost-savings, and traceability
• IBM platform prioritizes security, offers smart contract supports, and seamlessly integrates with existing systems.?
• It excels in connecting the business cloud & legacy systems easily compared to other decentralized networks.?

3) ConsenSys Quorum

• Open-source
• Consensys is an Ethereum-based distributed ledger protocol featuring contract/transaction privacy and novel consensus mechanisms
• Extensive support for various decentralized applications & smart contracts
• Highly modular platform
• Empowers developers to create enterprise-ready blockchain networks and Dapps
• Provides faster transaction speed
• Benefits of Quorum- Scalability, security, flexibility, cost-free transactions

4) Hydrogen Molecule

• It allows seamless integration with blockchain & non-blockchain services, platforms, and APIs
• Hydrogen Element library provides a set of design components?
• It empowers to build sophisticated financial applications

Benefits of Hydrogen molecule:?

1. Interoperable with any Ethereum-based identity protocol
2. Facilitates simplified document hashing?
3. Allows one-time & recurring crypto payment framework
4. Security tokenization?
5. On-chain multi-factor authentication framework
6. Ability to track data

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5) Hyperledge Fabric

• It is a multi-purpose open-source blockchain framework hosted by Linux Foundation
• Empowers to create sophisticated cross-industry blockchain solutions
• Unique, versatile, modular?
• Allows developers to create subnets or channels
• Maintains high-level secrecy

Benefits of Hyperledge Fabric:

1. Designed framework for authorized networks
2. Enhanced performance, scalability, and trustworthiness
3. Modular architecture accommodates add-on components
4. Safeguards digital keys & sensitive data

6) Corda?

• Corda is the only platform that offers a permissioned ledger
• Boasts asset modeling prowess & multi-party workflow engine
• Empowers developers to build interoperable blockchain networks?
• Tailored for financial services
• Benefits:- Agile, flexible, interoperable, open development, open design?

7) Kaledio?

• Helps to build blockchain applications & digital assets?
• Offers enterprise-grade security & scalability
• Multi-protocol, cross-cloud, and hybrid

8) Subquery?

• It is a versatile, fast & data indexing framework for Web3
• Subquery offers an open and flexible approach
• Serves as a custom open-source API connecting blockchain data with tools & dApps

Benefits of SubQuery:

1. Excellent performance?
2. Eliminates intricate & expensive data processing??
3. Multi-chain compatibility??
4. Discord server in Subquery provides technical support
5. It grants programme to incubate & accelerate the next generation of builders with support & funding

9) Blockstream

• It is at the forefront of global blockchain & bitcoin technology
• Blockstream Suite offers cutting-edge solutions that improve the Bitcoin ecosystem, ensuring secure digital asset transactions for enterprises and businesses.

Benefits of Blockstream:

1. Assistance for standard single transactions?
2. Accounts are fortified with 2FA( Two-Factor Authentication)
3. Compatible with hardware wallet support
4. Multilingual capabilities?
5. Improved privacy provisions?
6. Fully supports APIs
7. Empowers to manage transactional fees

Wrap-up:-

The dynamic evolution in the blockchain industry paved the way for the emergence of novel blockchain platforms. Simultaneously, businesses must understand that every blockchain platform has its capability of developing applications. As a result, this led to a comprehensive exploration of the most used blockchain platforms harnessed by the tech giants.?