Blockchain technology has shown its potential as a driving force behind many cryptocurrencies around the world. Do you know that blockchain platforms provide the ideal basis for creating decentralized applications for different sectors? Leading blockchain platforms not only provide a more efficient approach for financial or data transfers, but also create opportunities for innovation. Knowledge of the most notable blockchain platforms can help you discover the ideal platform for your next big application.
No matter what industry you work in, there’s a small chance you’ve heard of blockchain. The growing demand for blockchain development in trade finance, supply chain management and other sectors requires the identification of the best blockchain platforms. Which platforms do you think offer the best features for blockchain development?
Understanding Blockchain Platforms
The first thing you need to know before choosing a blockchain platform is the fundamental purpose of blockchain technology. It will help you understand why startups and large companies want to know the answers to the question “what are blockchain platforms” and how they improve a company’s competitive advantage. Blockchain platforms extend the capabilities of blockchain technology beyond their ledger function for maintaining records of transactions.
The main utility of blockchain platforms revolves around the development and implementation of decentralized applications and smart contracts. Compared to traditional blockchains that only focus on recording transactions, blockchain platforms offer a programmable layer. Developers can use blockchain or crypto development platforms to create sophisticated applications with capabilities to automate complex processes and safeguard digital interactions.
Blockchain platforms also incorporate consensus models to ensure data security and integrity in business applications. In addition to this, blockchain platforms also offer the benefits of improved efficiency and scalability compared to traditional development approaches.
Identify the Best Blockchain Platforms for Your Next Project
The identity of blockchain platforms in many cases overlaps with that of the core blockchain technology. You can find the best blockchain and crypto projects on platforms that offer full data transparency, traceability, and strong security. The real problem begins when you have to choose one from thousands of blockchain platforms with different capabilities. An overview of the most reliable blockchain platforms, including public and enterprise blockchain platforms, can help you make the right decision.
Ask any member of the crypto and blockchain community about the ideal blockchain platform to build your next dApp and you will receive Ethereum in response. In fact, it is the first blockchain platform to introduce smart contract programming. You can notice a glimpse of its popularity in the large-scale adoption of Ethereum among software developers. Even with a native token that is Bitcoin’s biggest competitor, Ethereum is more popular as a blockchain platform for smart contract and dApp development.
Ethereum deserves a place in the list of blockchain platforms for its ever-evolving roadmap. For example, the move to the Proof of Stake consensus mechanism in 2022 has improved the overall efficiency of the Ethereum blockchain. With the new consensus mechanism, Ethereum is an ideal blockchain platform for building applications capable of handling increased throughput levels.
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Solana is the next big thing in blockchain development with its unique features and benefits. It is an open source blockchain platform designed to host decentralized applications with the assurance of scalability. You may notice that Solana’s popularity mainly revolves around its ability to address scalability concerns. Solana not only can handle more transactions, but also offers the benefit of significantly lower transaction costs than Ethereum.
The most crucial reason to trust Solana is the ability to process thousands of transactions in a second. It claims better throughput than the best crypto platforms, with the potential to complete almost 65,000 transactions per second. Solana uses a combination of proof-of-stake and proof-of-history consensus mechanisms, which provide improved scalability and faster transaction speeds.
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You can’t think of blockchain platforms without mentioning Hyperledger Fabric. It is the most popular open source blockchain platform that is the first choice for developing enterprise solutions. Hyperledger Fabric is one of the leading blockchain platforms for permissioned use cases which will be limited to the enterprise use case. As a result, it requires verification and authentication of all network participants before joining the network.
Businesses that prioritize security and privacy will choose Hyperledger Fabric as their first choice for building complex applications. Hyperledger Fabric leverages a modular architecture with different components that can help you develop blockchain solutions with different layers. With an extensive component library, Hyperledger Fabric facilitates a simpler blockchain development process while providing more flexibility.
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IBM Blockchain is another top blockchain platform that you should consider for your next project. This is a common addition in all blockchain platform lists due to the popularity of IBM, a leading technology giant. IBM’s blockchain platform is also a favorite among companies for blockchain development projects. In fact, companies from different industries, such as finance, healthcare, and supply chain management, choose IBM Blockchain.
The permissioned nature of IBM Blockchain is similar to Hyperledger Fabric, ensuring that it fits well with business use cases. Another important advantage of IBM Blockchain is the flexibility of connecting existing technologies and enterprise cloud platforms. Additionally, you can also be assured of better data privacy and transaction throughput with the permissioned blockchain platform. IBM Blockchain offers the ideal platform for businesses that want to experiment with blockchain innovation while maintaining control.
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Corda is also a valuable addition among the blockchain platforms you will need to watch out for in 2025. It was originally created to work only in the financial services industry. However, Corda has become the leading blockchain and crypto development platform for many other use cases. Corda functions as a permissioned blockchain and operates a different working mechanism that separates it from other blockchain platforms.
Corda’s strong point is that it does not store transactions in blocks like other platforms. On the contrary, it facilitates real-time transaction processing, which improves efficiency and performance. It is important to note that Corda does not have its native token and does not support smart contract programming. You will need to write and deploy smart contracts on Corda using Java or other programming languages.
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Final Thoughts
You can choose the best blockchain platform for your next project by evaluating your needs. Blockchain platforms allow you to capitalize on the functionality of core blockchain technology in your applications. Real-world use cases of blockchain platforms in dApp and smart contract development across different industries demonstrate their potential. However, selecting the ideal blockchain platform from a crowd can be difficult, with each platform claiming to offer the best features. Ultimately, you should choose a blockchain platform that offers community support, development tools, and support for scalability. If the blockchain platform facilitates your development process, then it is the right choice for your project. Pursuing a Blockchain certification can help you make informed platform choices and improve your expertise.
