The blockchain way we see and do things on the Internet.
Many companies are shifting their focus to blockchain to increase transparency and immutability, lower transaction costs, and eliminate the need for a middleman.
a blockchain network eliminates the need for a centralized database because everyone on the network can see the transactions and also validate them. This creates trust and transparency between network participants.
Among the most fundamental considerations in whether or not to switch to blockchain for a business is selecting the most suitable blockchain framework to work with.
But we are going to try to focus on 6 of the most popular and widely used blockchain frameworks within the world of blockchain development.
We will evaluate each for their consensus algorithms, ledger types, cryptocurrency, and smart contract support.
Blockchain:
Blockchain is based on the technology of decentralized networks , the decentralization of the blockchain works like Napster: Every part of the network is connected to each other.
This is different from a normal client-server network that the user is used to, each node in a blockchain network serves as both a client and a server .
In a blockchain network, the nodes of the network are maintained and shared in a public database, called a ledger or registry .
That ledger contains the transactions that occur within the hire r3 corda developers network and those transactions are verified by a majority consensus of the network.
Once a new transaction is verified and entered into the ledger, that ledger is broadcast to all nodes in the network.
In this way, the nodes always keep that record up to date with all the latest transactions on the blockchain .
It is easy to see why many companies from a wide range of industries are adopting blockchain technology to facilitate secure transactions of their valuable assets; such as digital files, property files, cryptocurrencies or smart contracts.
Without further ado, let us now explore the 6 most popular frameworks with which a developer is going to be able to create blockchain powered applications.
In the review, we will try to highlight the most important key features and break down their strengths and weaknesses to help you make a decision when choosing a suitable platform to develop a blockchain network.
1. Ethereum
Built in 2015, Ethereum introduced a revolutionary feature known as the smart contract. . A smart contract is a program that contains states and functions.
Each smart contract runs at a specific address on the Ethereum and corda blockchain developement.
Since smart contracts are a type of autonomous account in Ethereum, they can send transactions and also have a specific balance.
The virtual machine in EVM is a virtual computer on which Ethereum accounts and smart contracts run.
The EVM allows you to create decentralized applications (DApps) that run on Ethereum.
The range of DApp use cases is rapidly expanding beyond the financial industry, extending into fields as diverse as healthcare, logistics, real estate, legal systems, and more.
Ethereum smart contracts are written in the Solidity language . Ethereum has a kind of permissionless ledger open for public use .
The consensus mechanism is a proof of work, admittedly slow.
Ethereum owns a cryptocurrency called Ether, Ether is used to pay for each creation and initialize each transaction within the Ethereum blockchain.
LEDGER TYPE CONSENSUS CRYPTOCURRENCY
Without permission pow Ether
2.Hyperledger Fabric
Hyperledger Fabric is a permissioned distributed ledger framework developed by Hyperledger Hub.
Hyperledger Hub is a project r3 corda developers by the Linux Foundation for the open development of centralized and decentralized blockchain platforms.
Fabric is aimed at companies that want to use, integrate or create blockchain-based solutions and applications.
Hyperledger Fabric is similar to Ethereum not only in its authoritative ledger type, but also in its modular architecture.
This modularity gives Fabric a kind of plug-and-play interface where you can select your preferred services such as consensus algorithm, smart contract types, etc.
Hyperledger Fabric also supports smart contracts. Smart contracts in Fabric can be written in JavaScript , Java , or Go .
If you encounter any issues that are not covered by the documentation, the Hyperledger Fabric team is available to answer any questions you may have .
LEDGER TYPE CONSENSUS CRYPTOCURRENCY
Without permission Pluggable Framework None
