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Blockchain is not a niche technology, nor is its business adoption a barrier anymore.
It brings unprecedented levels of trust, transparency, and security in corporate environments.
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Ethereum
It wont be wrong to assume Ethereum as the mother of all blockchain platforms.
There are tons (literally!)
of alternate financial systems built over Ethereum, presenting strong and decentralized substitutes to the centuries-old centralized setups.
This takes any intermediary out of the equation, paving the way for transparent and immutable workflows.
The idea is to have crypto tokens without substantial risks and volatility.
Likewise, non-fungible tokens (NFTs) are a blockchain novelty that started with Ethereum.
Ripple
Ripples flagship product is international payments, covering over 90 markets and 50+ currencies.
This is supported by real-time transactions and tracking.
It enables peer-to-peer and business fiat-to-RLUSD on/off ramps on the XRP Ledger and Ethereum blockchains.
Ripple can also help you offer crypto and digital asset custody solutions to your clients.
Ripples custody allows you to open additional revenue streams by offering trading, staking, and related services.
This can handle over 1000 transactions per second with its 3.5 seconds of average block time.
Plus, businesses get the goodness of all Ethereum libraries, smart contracts, and development tools.
This lets developers build cross-chain apps that can work through the online grid of EVM chains.
Currently, XRP is the fourth-largest cryptocurrency by market cap, just behind Bitcoin, Ether, and Tether.
This supports Android and iOS and comes with local signing and (an optional) biometric authentication.
With its Cardano blockchain integration, developers can use smart contracts to couple identity with digital assets and dApps.
Likewise, Cardano has Reeve for tamper-proof accounting powered by its immutable blockchain ledger.
The best part about Reeve is its ability to integrate with the existing accounting systems and granular access controls.
It has built-in multi-stage validation to ensure data accuracy.
Reeve also allows business owners to be selective and choose which information to store on-chain without jeopardizing sensitive data.
This will bring 3 billion customers.
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Cardano lets developers create, use, and destroy custom tokens without using smart contracts at all.
Notably, these tokens are different than NFTs, which in turn stay on the blockchain permanently.
Its primary use cases are international payments, underpinned by over 300k cash-to-crypto on/off ramps.
This covers personal settlements, business invoices, payroll, treasury management, social/enterprise payouts, and more.
Stellar provides real-time tracking, near-instant delivery, and excellent scalability.
you’re free to allow recipients to open on-demand wallets and compensate thousands in a single send.
Businesses can also rely on Stellar to tokenize real-world assets, such as securities and commodities.
Stellar comes baked in with features, such as KYC and freeze & clawback, granting superior operational control.
Stellars DeFi is powered by Soroban, which is its smart contract platform in Rust.
Hyperledger Fabric
Developed and hosted by The Linux Foundation, Hyperledger Fabric is a made-for-enterprises open source distributed ledger.
This helps in avoiding additional training expenses in domain-specific languages.
You also get support for EVM chains (and Solidity) for developing cross-chain applications.
Corda has a unique approach to consensus.
It checks every transaction for validity and uniqueness before stamping it to its ledger.
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Corda can work with existing systems and has data privacy protocols to limit sensitive information to stakeholders.
Currently, Corda is home to 400+ dApps (called CorDapps) and over $10 billion on-chain assets.
Besides, Cordas internet powers more than 1 million transactions per day.
The main Tron web connection alone peaks at about 2000 transactions per second.
Tron has a separate side chain, DAppChain, to support energy-efficient, secure, and quick dApp operations.
This sidechain deploys the same consensus mechanism as the Tron main internet and fully supports smart contracts.
Developers can build on-chain/cross-chain apps on DAppChain with its Java SDK.
Users can check the current list of these bookkeepers on Trons blockchain explorer.
Plus, every transaction is approved after multiple signatures, ensuring greater security.
Another important objective is to provide cross-chain compatibility.
BTTC lets apps interoperate among Ethereum, Tron, and Binance Smart Chain (BSC).
Solana supports leading game development environments with SDKs for Unity and Unreal Engine.
These SDKs have RPC and NFT support.
Moreover, Solana also lets developers deploy Turbo (another game engine) for building low-resolution 2D games.
Solana comes with an excellent toolkit for building financial applications.
Businesses can deploy permissioned environments and customize them further with geofenced nodes, private instances, and more.
These modular programs are built into the core protocol to provide enterprise-grade security and flexibility without any third-party plugins.
You also benefit from state compression on Solana to mint 1 million NFTs for a mere $110.
Right now, it has 1300+ validator nodes to keep the internet decentralized and secure.
It lets smart contracts interact with off-chain data and events with baked-in security.
Besides, its VRF (verifiable random function) provides cryptographically secure random numbers for smart contracts.
This tamper-proof randomness makes Chainlink a developer favorite for their gaming and NFT projects.
EOSIO
EOSIO is an open-source platform suitable for both public and private blockchain networks.
Developers can write smart contracts in C++, without learning a domain-specific programming language.
These contracts can be updated in real time without troubling the blockchain web link.
That said, EOSIO-powered blockchains also have provisions for immutable smart contracts.
Developers can stop others from modifying smart contracts by creating custom permissions for highly sensitive projects.
On the other hand, it also supports distributing authority to change smart contracts to multiple accounts.
A blockchain platform is a digitally distributed, immutable ledger enhanced with self-executing code (~smart contracts).
Thats why you must know the impact of such a transition upfront and have the basics brushed up.
Moreover, the core principles, permissionless and decentralized, dont always align with all business practices.
And as always, do a pilot before making any serious blockchain move.
