Blockchain technology has developed rapidly in a short space of time. It has become one of the most popular topics among organizations across the globe. There are many reasons for this. Firstly, it may be because of the technological advances, and secondly & most importantly, the introduction of open-source blockchain platforms. Now, more and more people are beginning to understand how this revolutionary tool can change their business.
One of the most popular questions that arise in a blockchain community is about the best open-source blockchain platforms. How do you choose which open-source blockchain platform is right for you? This article outlines my top five picks of open-source blockchain platforms in 2022.
Hyperledger
Hyperledger fabric will be the go-to platform for businesses to build on. It is an open-source blockchain platform that has been around since 2015. But it’s only recently become a major player in the market. In fact, it’s already being used by companies like Walmart and IBM (and countless others) to build their own distributed ledgers (DLTs).
The platform is designed for enterprise-level blockchain solutions. It is also known as a blockchain for business, which can be used for many different purposes like issuing and managing digital assets, tracking goods through a supply chain, storing records, or any other kind of data that needs to be kept immutable and tamper-proof.
Ethereum
Ethereum is a blockchain platform that is built to run smart contracts and decentralized applications. It was created by Vitalik Buterin back in 2013. Since then, it has become one of the most popular platforms for developers to create Dapps on.
This open-source blockchain platform is decentralized and runs smart contracts: applications that run exactly as programmed without any possibility of downtime, censorship, fraud, or third-party interference.
Ethereum has a clear purpose: to enable developers to build and deploy decentralized applications. The Ethereum Virtual Machine (EVM) makes the process of developing and running distributed applications much easier, but it does not get in the way of the application logic itself.
The blockchain platform can be used to store data which can then be interacted with by any Ethereum app. The technology underlying Ethereum is quite flexible. It can be used for just about anything that you would like to do with a database system but with some key differences:
OpenChain
OpenChain is a blockchain platform that allows you to build your own decentralized applications. The platform is built on top of the Ethereum network and it gives you access to all the tools needed to create decentralized applications.
It has over 2,500 users and the community is growing every day. The reason why so many people are interested in this platform is that it’s easy to use. This means that anyone can start developing their own decentralized apps in no time at all.
With this platform, you can:
- Build custom blockchains with any language or framework
- Deploy your custom blockchain on any infrastructure (server, cloud, or local)
- Perform all transactions securely with the power of smart contracts
Quorum
Quorum is a decentralized platform that focuses on the privacy and security of its users. It uses the Ethereum blockchain and allows for private transactions to take place, without the need for a third-party intermediary.
Quorum’s goals are to build a platform that makes it easier for developers to create applications, while also providing an incentive system for users who contribute their computing resources to improve the community’s overall performance.
The team behind this project has worked hard to develop relevant products that will have a positive impact on society. In addition, they’ve focused on creating an ecosystem where people can collaborate in ways that are beneficial for everyone involved.
Ripple
Ripple is a blockchain platform that aims to provide users with a fast and efficient way to send and receive money. The company was founded in 2012 by Chris Larsen and Jed McCaleb, and it was one of the first digital currency companies to focus on cross-border payments. It is a peer-to-peer payment network for individuals, businesses, and financial institutions. It is based on blockchain technology, which allows the company to process transactions in real-time and almost instantly.
Ripple’s mission is to make it easy for everyone to move value around the world. Their goal is to provide an open-source technology that can be used by anyone, anywhere in the world and they are doing this by providing their software as open-source software so that other companies and developers can build applications on top of it.
Recently, Ripple has become more prominent with its XRP token (XRP). They decided to add another currency because they needed something that could be used globally instead of just being limited within their own country. The reason why they chose XRP as their cryptocurrency is that it was already established by large institutions such as banks and financial institutions so therefore people would be more likely to use it rather than create their own currency from scratch like Bitcoin or Ethereum did when they first came out onto the market which requires lots of development time before anyone else wants to use it too!
In a nutshell, the blockchain is a transformative technology, but this new industry faces challenges that will affect its success. Although we have only briefly surveyed a few open-source blockchain platforms, it’s clear that the competition for market share is fierce and growing. There are big challenges ahead, and we are confident in the blockchain’s ability to meet them.
