The popularity of blockchain keeps growing. The distributed ledger technologies are growing with them. When you are trying to find the best option, you need to keep in mind that there are many blockchain technologies of different categories. Their variety is constantly growing.
This blockchain platform comparison will give you a general idea of various platforms and their peculiarities.
First of all, there are coin-oriented platforms. The aim of these blockchains is to transfer money quickly and anywhere. The examples include Bitcoin, Litecoin, Monero, Ripple, etc. The most well-known is Bitcoin. It was the first blockchain and is mainly used as a means of payment. The platform is suitable for large transactions because of the high value of “coins”.
Another type of the platforms is the smart contracts platforms. They allow you to create smart contracts (scripts) which can interact with the host blockchain. It also permits to store the data there. The examples will be Ethereum, NEO, Hyperledger, Verge, Nem, Lisk, Ark, etc. The most trusted one is Ethereum. It offers the most advanced smart contracts in the market. The smart contracts must be written in Solidity, while the Dapps can be made with the help of any other language. Ark platform, for instance, has Smartbridges technology which allows it to connect to other platforms like Bitcoin. There is also token based on smart contracts platform which is Naga Coin, for example.
There is another way to categorize the platforms – public, private, and consortium.
The platforms have the different characteristics which is one of the best ways to find your perfect one. Before making a choice, study the programming languages it uses, the currency and fees as well as privacy terms. Answer a few questions to yourself and it will lead you to the right choice. Discover if the protocol is openly sourced and governed. Decide who will be a part of the network. Think how the transactions will take place. Try to find the one that seems easy. Do not choose the most complicated thinking that’s it will be better. Think about your comfort and choose the one you can easily use. Other things to consider include scalability, regulatory risk, skills availability, and support.
Nowadays, we should get more familiar with blockchain and its potential. These classifications are likely to give you the general idea about the variety of platforms. Now it’s time to learn more about each platform in order to make the right choice.