Technology is evolving at an alarming pace. This is especially true with Blockchain technology. Over the last few years, blockchain is growing in popularity day by day. There is no denying that blockchain is a very advanced concept, and the more people understand it, the more they appreciate it.
In this article, you will find out the list of 5 technologies that are making waves right now.
Let’s explore the new Blockchain Technologies
#1 Hyperledger
Hyperledger is a collaborative development project which aims to provide a cross-industry open-source development platform that enables business networks and distributed apps. Unlike many blockchain technology projects, Hyperledger provides many pre-built modules which can be used for commercial purposes. This development is driven by several companies like IBM, R3, Linux Foundation, and more. The project is under an open-source license which means that anyone can benefit from the modules created in the project.
Hyperledger supports several business networks. These include, for example, production networks, supply chain networks, payments networks, identity management networks, and so on. Each business network is supported by various modules, for example, transaction stream management, data exchange module, identity management, membership, distributed registry, and so on.
This project is the most popular Blockchain technology platform. You can learn about its capabilities on its official website. You can also find plenty of tutorials on the internet.
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#2 Ethereum
Ethereum is a popular Blockchain technology platform. The core concept of Ethereum is based on Bitcoin but also takes inspiration from the concepts of distributed databases. Similar to Hyperledger, Ethereum has modules and functionalities which can be used for commercial purposes. Just like Hyperledger, you can also run smart contracts on the Ethereum blockchain.
Unlike Hyperledger, Ethereum is a distributed network that can be considered as a platform. You can also say that it is a decentralized cloud platform. This means that users can use it freely without any restrictions. Moreover, users can use their private instance of Ethereum to develop, test, and deploy their applications.
#3 Cello
Cello is an open-source blockchain network solution for businesses. This platform allows you to build business networks without learning any advanced coding. The main idea of Cello is to allow businesses to set up business networks with the use of various modules. These modules are integrated into the platform through the use of plugins. You can also create your plugins as well.
Read Also: The Ultimate Guide to Custom Blockchain Solution
#4 RChain
RChain is a new open-source blockchain network solution. Unlike other existing blockchain technology solutions, this platform is open-source and aims to use smart contracts to benefit the global community.
RChain is based on the concept of decentralization. This means that the RChain platform is hosted on various nodes all over the world, and these nodes are independenofom of each other. Moreover, you can always connect with your nodes, which helps to spreadecentralizationon even further.
Similar to the Cello platform, RChain is also open to everyone. You do not have to pay any fetoto use the RChain platform. Moreover, anyone can share his nodes with other nodes, which also helps decentralize the network.
RChain offers various capabilities, which include:
· Smart contract security
· Decentralised architecture
· Permissioned or consortium networks
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#5 EOS
EOS is a public, decentralized, open-source platform. It also uses smart contracts, just like the other blockchain technology platforms. The main difference is that you do not have to learn any advanced programming languages to use the EOS network. Instead, you can use an interface that allows you to build your smart contracts in C++. Moreover, this interface also supports EOS accounts and other EOS modules.
EOS is developed by Block. one. The company also provides a development platform that you can use to develop EOS applications. This platform is designed to be simple, yet powerful. The platform is built using Python and C++. You can also use it to develop your applications, games, and other DApps on the EOS platform.
Conclusion
Blockchain technology is not just going to fade away and disappear. This innovative technology is going to impact all areas of our lives and our businesses in a lot of positive ways.
The main reason why most people believe that this technology will be revolutionizing so many industries is that it is decentralizing the way the world communicates, exchanges, and does many other things.
There is a lot of technology that is being created that allows for this technology to be decentralized. With the amount of growth and development this technology is experiencing right now, we can see that it is not going away.
Read More: Offshore Blockchain Development Services
