Blockchain has changed the way we think about and uses the internet. Many businesses are converting to blockchain to increase transparency and immutability, lower transaction costs, and eliminate the need for a middleman.
Because everyone in the network can see and validate transactions, a blockchain network eliminates the need for a centralized database. This builds trust and transparency among network participants.
The decision to switch to the blockchain is complicated. Choosing the right blockchain framework to run your business is one of the most fundamental considerations.
There are many Blockchain Development Framework to cover in a single blog post. Instead, we’ll concentrate on six of the most popular and widely used blockchain development frameworks:
What is Blockchain, Exactly?
Blockchain, like peer-to-peer networks, is based on decentralized networking technology. Blockchain decentralization works similarly to Napster: each party in the network is connected to the others. It’s not like the typical client-server network you might be used to. Each node acts as a client and a server in a blockchain network.
This ledger contains the transactions taking place in the network, and these transactions are verified with the majority consent of the network.
It is easy to see why businesses turn to blockchain technology to facilitate secure transactions of valuable assets like digital files, currency, etc.
Let’s look at six of the most popular frameworks for building blockchain-powered apps without any ado. We’ll highlight key features and break down strengths and weaknesses to help you make more informed decisions when building your blockchain network on the right platform.
Ethereum is the world’s most famous and widely used blockchain development platform. It is the first blockchain development platform. It was created in 2015 and introduced a revolutionary feature, smart contracts.
A smart contract is a computer program that contains functions and states. Each smart contract runs on the Ethereum blockchain at a specific address. Smart contracts can send transactions and keep balances as autonomous accounts on Ethereum.
The Ethereum Virtual Machine is another great feature of Ethereum (EVM). In an EVM, a virtual machine is a computer that runs Ethereum accounts and smart contracts.
EVM allows you to build Ethereum-based decentralized apps (DApps). The range of applications of DApps is rapidly expanding beyond finance to include areas as diverse as healthcare, logistics, real estate, the legal system, and many more.
2. Hyperlegder Fabric
The Hyperledger Hub created Hyperledger Fabric, a permissioned distributed ledger framework. The Linux Foundation’s Hyperledger Hub is a project for the open development of centralized and decentralized blockchain platforms.
Fabric is designed for businesses who want to use, integrate, or create blockchain-based solutions and applications.
Not only does Hyperledger Fabric have a permissioned ledger like Ethereum, but it also has a modular architecture. Fabric’s modularity lets you choose your preferred services from a plug-and-play interface, such as the consensus algorithm and smart contract types.
3. Hyperledger Sawtooth
Hyperledger Sawtooth is another Hyperledger Hub modular blockchain platform for building distributed ledger applications and networks. The Linux Foundation launched Hyperledger Sawtooth, which is now maintained by IBM and Digital Assets.
- PoET (proof of elapsed time) is a consensus algorithm that uses secure instruction execution to achieve the scaling benefits of a Nakamoto-style consensus algorithm while avoiding the power consumption drawbacks of the proof of work algorithm.
- PBFT (practical Byzantine fault tolerance) is a voting-based algorithm that uses dynamic network membership, regular view changes, and block catch-up procedure features to vote for network agreement.
- Raft is a consensus engine that is based on and uses Raft. To agree on a value and decide, this consensus uses the logs of relatively independent subproblems.
Block. one launched EOSIO, a high-performance open-source blockchain platform, in 2018. EOSIO is a blockchain application development platform that is quick, reliable, and secure.
You can also create your EOSIO network and use them to deploy smart contracts.
See the official documentation to learn how to write and deploy smart contracts on EOSIO.
Although not as famous as Ethereum, EOSIO has some unique selling points.
- quick and effective
- configurable to max
- exceptionally safe
- compatible to a high degree
The R3 consortium created Corda, an open-source blockchain platform, in 2015. “Next-Generation Blockchain Framework Claims to be the DLT Platform of Choice for Financial Services and Beyond,” claims Next Generation Blockchain Framework.
Corda supports smart contracts and has a permissioned ledger type, allowing you to write and deploy smart contracts on the Corda blockchain.
Since the platform lacks a mining facility, most nodes never see a portion of the transaction. In other words, Corda transactions are not available to all nodes. Corda does not hold any cryptocurrencies or tokens.
Corda has pluggable consensus, which means it can choose from various consensus algorithms.
The consensus on the validity and exclusivity of Corda is:
Quorum is an Ethereum-based open-source blockchain platform.
ConsenSys recently bought Quorum from JP Morgan. Many companies, including Microsft, JP Morgan, Covantis, South Africa Reserve Bank, SiaChain, Komgo, and others, rely on quorums and have implemented them.
Enterprises that want to use a blockchain platform for their business can find the help of Quorum. It has a permitted ledger type but also allows client-specific customization. Quorum supports smart contracts as well as public and private networks.
Quorum’s consensus algorithm is based on voting, and it accepts transactions and blocks based on the number of votes received from nodes.
We introduced blockchain, explained how it is changing the world as we know it, and listed the most popular Solana Project Development Company in this guide.
We evaluated each platform’s strengths and weaknesses, looked at common use cases, and looked at consensus algorithms, types of ledgers, and supported cryptocurrencies.
Understanding blockchain is difficult with all the different platforms available for developing blockchain-based apps. The best way to learn is to start with the basics and learn how they work under the hood. Keep an eye out for more blockchain content on this page!