Top 3 Open Source platforms to develop for Blockchain
Gone are the days when Blockchain technology was used only for financial transactions. Currently, its reach is increasing rapidly
Gone are the days when Blockchain technology was used only for financial transactions. Currently, its scope is increasing rapidly and it is applied in different industries, such as e-commerce , data management, energy, electronic government, etc…
Different commercial and open source platforms provide frameworks to develop applications for Blockchain. In today’s article we will look at three of the best open source platforms for building applications that support a blockchain.
What should a blockchain product look like?
A blockchain product must meet certain requirements. The following are some of them:
Transactions should be stopped in case of non-verification
Each transaction must be checked against an active ledger for approval
You must create a live, distributed transactional database
Must create user ID tags for live parts
Open Source Platforms for Blockchain Application Development
Ethereum
Ethereum is an open source, public, Blockchain-based decentralized platform that executes smart contracts . As you well remember, smart contracts are applications that run exactly as programmed with no chance of downtime, censorship, or fraud.
By the way, Ethereum and Bitcoin have some differences. While the Bitcoin blockchain is used to track ownership of the digital currency, the Ethereum blockchain is more focused on executing the code of any decentralized application. In Ethereum, Ether is a crypto type, the heart of the network, it is the cryptocurrency development company that powers the Ethereum decentralized computing network. Ether is used to pay for transaction fees and services on the Ethereum network.
Ethereum Features:
Ethereum virtual machine (EVM):
Smart contracts programmed with Solidity, Serpent, LLL, Mutan etc…
High percentage of the market share of Applications ( Dapps )
Improved performance with the use of Merkle trees
Corda
Corda is a distributed ledger platform for building distributed applications (to record and process financial agreements that support smart contracts) quickly. Corda is available as Community Edition (open source) and Enterprise Edition (licensed).
Corda provides a platform with common services ensuring that the services built on top are compatible with network participants.
Corda offers the “universal interoperability of public networks with the privacy of private networks.” In addition, Corda shares transaction data with willing participants (minimal information leakage) and maintains client confidentiality.
Corda also acts as a gateway to a network of fully interoperable Dapps for finance and commerce, the CorDapps .
Rope Features:
Each Node hosts Corda services and runs CorDapps
permit service
network map service
Oracle services (provide commands that encapsulate a specific fact)
Hyperledger
As we saw in Sergio ‘s article , Hyperledger (hyperbook for friends) is an open source collaborative effort hosted by the Linux Foundation that does not support Bitcoin or any other cryptocurrency.
Its goal is to advance distributed ledger and block collaboration, with a focus on improving the performance and reliability of these systems compared to traditional cryptographic designs. The idea is to be able to support global commercial transactions by technology and financial companies, etc…
If you want to know more about Hyperledger, I encourage you to read Sergio’s article: Hyperledger, the Decentralized Blockchain?
Other platforms to consider:
HydraChain
MultiChain
Openchain
Elements
Quorum
conclusion
As you have seen, there are more and more options and alternatives to develop applications for Blockchain. I encourage you to play, and get to know them to see which of them best suits your needs. If you have a favourite, comment below!
