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Blockchain technology is a decentralized solution that helps in tracking, documenting, and facilitating solutions. With the increase in demand for this amazing technology, its uses are now visible in various industries. This is why organizations across the globe have been proactive about hiring professionals for software development that can come up with customized Blockchain apps.
According to Markets and Markets, the global blockchain market size will boost from USD 3.0 billion to USD 39.7 billion by 2025. Ethereum, R3, Ripple are just a few examples that built blockchain frameworks. Here is a software list that will make it easy for you to devise the best blockchain for your business.
Tezos
Co-founders of the Tezos platform have been building it since 2014 with a core team for software development. Tezos is a decentralized blockchain platform linked to a digital token called Tezzie or Tez. This platform is not based on mining, plus the token holders get rewards for participation in proof-of-stake consensus.
Just like Ethereum, Neo, and Waves, Tezos is a contract and dApp platform. However, it’s self amending cryptographic mechanic makes it stand out from other platforms.
Hyperledger Fabric
It is a project of Hyperledger, intended to build solutions and applications based on the blockchain using a modular architecture. This architecture allows the designers to plug-in components like the membership services and consensus. Along with this, it distinguishes the details from the blockchain solutions.
Its framework design allows the known identities to participate within a system quickly. The participants need to have authorization and credibility to take part in the blockchain.
Stellar
Stellar is a distributed blockchain that facilitates the cross-assets transfer of values. It is similar to ripple and deals with cryptocurrencies and fiat-based currencies. You can build banking tools, smart devices, and mobile wallets with a stellar network.
The SCP (Stellar Consensus Protocol) allows reaching the consensus without depending on a system to record financial transactions. It optimizes safety by halting the progress of the network until it reaches an agreement for misbehaving nodes. SCP has modest computing and financial requirements that reduce barriers and opens up to new participants.
Several companies like the Transfer To, NaoBTC, and ICICI Bank use this network to enable money transfers across borders.
Hedera Heshgraph
The Hedera Hashgraph platform doesn’t need a heavy proof of work algorithm. It is a new form of distributed consensus and is secure, fast, and fair. Hedera enables the developers to build scalable new classes of decentralized applications.
With its terms, Hedera Hashgraph Council ensures that no single member or small groups can have control over the entire body. The optional mechanism of “binding arbitration” in Hedera allows it to be more dynamic like any other software component.
Here is why Hedera is a good option for businesses:
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It is swift, just like your internet speed. This software has the capability of handling hundreds and thousands of transactions per second. It can also authenticate around one million signatures per second.
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This platform ensures the consensus order of transactions that represents the order received by the community. It makes sure that no single user can block the transactions flow into the community.
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This platform is an asynchronous Byzantine fault-tolerant and has the most substantial level of security. Hedera is a fundamental advance in the field of distributed systems.
Ripple
Ripple helps in connecting the payment providers, banks, digital asset exchanges, corporates via a blockchain. This platform allows global payments with the help of a digital asset called XRP or Ripple. Due to its advanced blockchain technology, it is faster and more scalable than other platforms.
Several big brands like American Express, MoneyGram International, and Deloitte are already testing this platform’s blockchain’s potential. Ripple works on minimizing liquidity costs to send payments across multiple networks and cross border payments.
The frenetic pace of innovation in the blockchain opens doors for additional features and new openings. To build highly scalable applications, enterprises have to select the right blockchain platform.
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