In this post, I have given comparison of top Blockchain frameworks. Due to increase of financial transaction fraud blockchain technology became popular now a days.
What is Blockchain
The blockchain is a distributed ledger. The user in a channel cannot tamper the proofs. So, currently, high-value transactions are using the blockchain technology.
In the blockchain, all the stakeholders can create a channel, and you can become a member of it. The transactions made in that channel are transparent to the members of that channel.
Blockchain is not suitable for high volume transactions.
High Volume means – Take an example credit card transactions. There per minute you can see thousands of transactions.
In blockchain, the users who validate transactions are called as miners.
Blockchain is now implementing to cast votes
Top Blockchain Frameworks
- Enterprise Blockchain
- R3 Corda
- Hyperledger Fabric
Differences of Blockchain Frameworks
Bitcoin coin was invented by Satoshi Nakamoto in 2009. It is an open source project. Popular in Currency.
Etherum was introduced in 2013 by teenager prodigy Vitalik Buterin an earlier programmer with Bitcoin. Today Ethereum is most widely used open source framework to develop BlockChain applications.
3). Enterprise Blockchain
This is first generation framework created using distributed Technology. Later, there are other blockchain frameworks come up with new features.
Quorum is the Enterprise-focused version of Ethereum. Quorum addresses specific challenges to blockchain technology adoption within the financial industry, and beyond
Multichain is another very promising private permissioned BlockChain framework made up of BitCoin fork
Fork in terms of Blockchain means a new Protocol or new rules.
6). R3 Corda
R3 (R3CEV LLC) is a distributed database technology company that leads a consortium of more than 200 of the world’s biggest banks and financial institutions in research and development of BlockChain database usage in the financial system
Distributed ledger technology framework. Suitable for production applications.
Hyperledger is the umbrella project that offers open source solutions that can solve many of the requirements of an enterprise BlockChain framework.
9). Hyperledger Fabric
The architecture and features of Hyperledger Fabric is pretty similar to R3 Corda, as they are built on same specification.
2015 founded IOTA that refers to itself as a “next generation BlockChain” in its own tagline and also to function as the backbone of the Internet of Things.
11). Neo – China
Neo is widely known as “Ethereum of China” calls itself BlockChain for “Smart Economy”.
In June 2017 Antshares was rebranded as Neo, and ever since then Neo crypto-currency implemented on Neo framework had surged close to 3053% just in a month and thus surpassed Litecoin, Bitcoin Cash, and Ripple.
12). CoCo – Microsoft
Unlike others CoCo is neither a DLT nor BlockChain rather a trusted layer on top of which other frameworks such as R3 Corda, Hyperledger Sawtooth, J.P. Morgan Quorum, and Ethereum could be plugged in and operates in the cloud and on premises, on any operating system.