Business Growth Hack 101: Select the Right Blockchain Platform

People go for Blockchain networks or Blockchain companies with a lot of excitement and energy, but it remains in a structured way until the network is straightforward. When you move to a complex blockchain network and no longer find it easy, the structure starts to fall apart. So, most of the people stop using it. But this problem can be dealt with if you the technicalities of working with the blockchain well. Also, it essential to make your decisions wisely when it comes to the blockchain. 

According to Deloitte’s 2019 survey, about 53% increase in Blockchain has been witnessed since its last year. It is high time you realize its importance in the upcoming times. Here are some top blockchain frameworks that you can use for sure in 2020.

List of Top Blockchain Development Frameworks Popular in 2020

• Ethereum by a blockchain development company

The platform came into being in the year 2015, and its mostly used by the Blockchain developers to build the decentralized applications. There have always been constant improvements with Ethereum so that the development community can gain massive advantages. As a result, we have Ethereum 2.0, which has also become very popular. 

• Hyperledger 

The most brilliant thing about this framework is that it is open-sourced. It helps in the creation of high-performing DLT. This framework would allow adopting blockchain on the enterprise level. It is because it is an amalgamation of six frameworks and seven tools. 

• EOS

This particular blockchain framework is used for running the decentralized apps. Also, it is a public network platform that can be used by anyone, and they can create EOS accounts. Also, further, you can submit your transactions on the network. 

EOS is a unique and popular framework because it makes decisions on the basis that who will produce every block. This thing is based on the vote by the token holders who are selected from a large number of approved candidates.

• R3 Corda

This blockchain platform is an open-source framework by blockchain services providers, which is a network made in collaboration with 300 firms. It assists in distributed apps in various sectors such as healthcare, insurance, digital assets, and finance. The framework is written in the Kotlin language.

• Quorum

The platform can be referred to as a private framework that does works for the financial sector. This framework would allow the brands to use smart contracts that are written in Solidity language, which is applicable for both private or public contracts. It is a version of Ethereum that is permission. Therefore, it is of high value for financial institutions. 

How to Choose the Best Blockchain Development Platform for Your Business? 

Check out the top benefits of Blockchain platforms as given below:

• The foremost thing is privacy

The blockchain services have two parts from which you have to choose one for the kind of privacy you want for your business. 

• Centralized

Here the control would be in the hands of a single primary authority, and they would control all information and network which could be accessed by the users.

• Decentralized 

Here the control not in the hands of the morning authority, and the data can be accessed by anyone present on the network. In case the information contains the private information of users like names, documents, and addresses, etc., which should only be shared on a specific network between the users and used only be accessed by them, so are designated to do so than the private network is the option. The private network follows the centralized system. 

You can use a public Blockchain development framework or decentralized system if your app business prefers transparency and truth. 

• The next thing is Scalability

With the dynamic transactions and pattern of participation, it becomes essential for the Blockchain technology platform or a Blockchain application development company to evolve and adapt new things for growth. Scaling issues are challenging as well as necessary for the blockchain process. If we compare, Ethereum and Bitcoin with PayPal or Ripple, we can see that the latter can still not match their speed. 

If your app doesn’t have several transactions in a day, you can go for escrow agreement that would keep it simple. Also, it is advisable to restrict the network. Besides this, you also need to decide the quality and cost. In case your app has excessive transactions each day, then you may go for a side-chain implication that would ensure security. It would for the transaction fees network. 

Apart from the above things, other factors should also be kept in mind that relates to the blockchain development company. These include the security needs of the app, does the app need community support or multi-functionality? Or check for the availability of skills for your application. 

Some Last Words

There are a lot of benefits of Blockchain Platforms; you just need to know the blockchain App Development Cost. Just choose a useful blockchain App Development Services to get your work done right. 

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