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 Top Six Blockchain Development Frameworks

Published Mon, Oct 11 2021 07:38 am
by The Silicon Trend

 

 

 Top Six Blockchain Development Frameworks

 

Blockchain is a system that records data, making it strenuous to cheat, modify or hack the system. It is associated with cryptos like Ethereum (ETH), Bitcoin, and digital transactions and is open to the public. This tech helps in traceability and verification of the transaction, offering - secure transfer, swift transaction processing, and low compliance cost.

This is why several industrial sectors adopt the tech to facilitate safe transactions of currency, e-files, properties, etc. When running your own business, ensure that you select the proper blockchain framework to avoid further complications.

Let us understand the features of a few best blockchain-developing frameworks in 2021. 

 

  • Ethereum 

It is a permissionless decentralized public ledger leveraged for recording and verification of transactions. It is the first blockchain developing platform, built-in 2015, with its own cryptocurrency - Ether (ETH) and its own programming language - Solidity. 

Ethereum was developed to enable creators to build smart contracts and dApps that can be leveraged without the risk of fraud or third-party interference. Another revolutionary aspect is the Ethereum virtual machine (EVM), where the accounts and smart contracts can be executed, enabling the dApps to run on it.

You may read: Fintech Replacing Banking

 

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  • Hyperledger Fabric

Hyperledger Fabric is an open-source modular blockchain framework developed by the Linux Foundation for developing decentralized and centralized blockchain platforms. It supports smart contracts and targets ventures that need to leverage, create or integrate blockchain-based apps and solutions. Furthermore, it offers a plug-and-play interface to choose their preferred services - smart contracts, consensus algorithm, etc.

 

  • Hyperledger Sawtooth

It is an open-source blockchain platform maintained by Digital assets, and IBM was introduced by the Linux foundation. It runs customized smart contracts without the need to know the underlying core system design. It has a wide range of innovative facets and integrations such as Sawtooth-Ethereum (Seth), parallel processing and can modify the consensus algorithm (PoET, Raft, and PBFT) anytime.

 

You may read: Largest Cryptocurrency Network Ethereum Splits into 2 Chains

 

  • EOSIO

Introduced by Block.one in 2018, EOSIO is a next-generation, open-source blockchain protocol that offers a secured, swift and reliable platform to develop blockchain apps. Either one can establish their own EOSIO networks and leverage smart contracts on them, else the development framework will permit us to employ smart contracts on its existing platform. Around 400 apps have been created, such as gaming, identity, and supply chain management.

 

  • Corda

It is a permissioned blockchain platform launched in 2015 by the R3 Consortium, powering DLT apps to transact directly and strictly with one another. Though designed for financial sectors, it has recently expanded to other areas like insurance, healthcare, and digital assets. 

Its transactions are not open for all nodes, and no tokens are there in the framework. It also supports smart contracts and has 2 consensus algorithms - uniqueness and validity.

 

  • Quorum

It is an open-source framework build by JP Morgan around 2016, offering an execution of customized Ethereum to enterprise blockchain networks. Many businesses have adopted Quorum, such as Komgo, Microsoft, Covantis, SiaChain, South African Reserve Bank, etc. 

It supports smart contracts, public and private networks. Moreover, the consensus algorithm of the framework is vote-based. Finally, it adds numerous privacy improvements to Ethereum to enhance support for CCPA in California and GDPR in Europe.

 

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Image source: Unsplash.com