Blockchain development companies
Blockchain technology emerged with the beginning of Bitcoin in 2009 and today it has become one of the most prominent and mainstream technologies. Revolutions in blockchain Development Company are visible all over the world. No matter what industry you are looking at, you will find blockchain applications in all sectors. Many companies are expanding into supply chain, healthcare, logistics, finance, and other fields using blockchain.
The main goal of blockchain applications is to make business processes more transparent and efficient. Companies are now realizing the potential of blockchain technology and how it can boost their business.
The demand for new blockchain platforms is constantly increasing because companies are experimenting with different platforms by developing blockchain applications.
Blockchain technology is famous for its transparency and decentralization. This is mainly required in the financial sector. Several companies are considering the development of modern financial applications on blockchain platforms.
There is no need to worry about immutability, security, and decentralization in blockchain-based financial applications. This is what several companies are focusing on.
The technology has facilitated the development of new applications on blockchain platforms through smart contracts. Now, let's take a look at some of the best blockchain platforms for building financial applications.
Ethereum
Ethereum is one of the oldest, most established and leading blockchain platforms. It has even developed its own cryptocurrency called Ether or ETH. The platform provides a completely decentralized blockchain. Ethereum is fully compliant with smart contract rules for efficient operation. Currently, there are thousands of decentralized applications already available on Ethereum.
The Ethereum platform is experiencing a massive craze among blockchain application developers for creating decentralized applications called dApps.
Ripple
Ripple is more focused on developing financial applications on the platform. Ripple had established its own platform in 2012 to build a blockchain network for businesses by connecting digital asset exchanges, banks, and payment providers.
RippleNet is working on liquidity solutions so that companies do not need pre-financing and can even build a decentralized infrastructure where a payment can be made in less than 3 seconds. You can expect full transparency on RippleNet.
Cardano
Cardano is a next generation blockchain platform based on smart contracts. The main goal of the Cardano blockchain is to create dApps that are fast and scalable. Cardano has an Ouroboros consensus mechanism which is a secure version of the Proof of Stake algorithm. Here, each transaction is verified only by the network participants, and they do not need to be verified at each node.
Cardano has many features like interoperability, scalability, transparency, and legitimacy to make it the right choice for modern financial applications. The Cardano blockchain hopes to balance the wishes of the centralized and decentralized communities.
Stellar
Estelar is an open network blockchain that works efficiently for the financial sector. Stellar is a robust blockchain platform for building fast and secure fintech applications.
As Stellar is an open network, there is no owner and full control is in the hands of the public. Stellar also relies on the blockchain to keep everything in sync with the network. Whether you are looking for fast transactions or your company is looking for a decentralized platform to build modern financial applications, you can consider Stellar as a worthy option.
Hyperledger Fabric
If you are thinking of developing a complex application or software on the blockchain by breaking it into small parts, then Hyperledger Fabric is the right choice for you.
The most important feature of Hyperledger Fabric is the network of networks. All companies want to keep private data certain . This is where Fabric can help you maintain different relationships within the network itself.
EOS
This platform can be called an extended version of Ethereum and Bitcoin blockchains because certain features are supported by EOS, which actually lacks both.
The EOS blockchain network provides smart contract capability, hosting for dApps, and decentralized storage of enterprise solutions to solve scalability issues. You can create a finance app on EOS to transact at a lower cost. In addition to that, developers can implement executable smart contracts as per business requirements.
EOS blockchain allows developers to expand their ideas by building different applications on the blockchain network. You can easily develop modern financial applications, games, trading solutions, and much more.
Corda
String is an open source blockchain platform where developers can build permissioned distributed solutions. Businesses can easily transact through Corda by maintaining strict privacy policies with smart contracts. All business processes are streamlined, so there is a significant visible reduction in transaction costs and record keeping.
Tron
Tron is another decentralized blockchain platform that aims to develop a decentralized web. Like Ethereum, Tron also allows developers to leverage entire protocols through smart contracts on the blockchain. Tron can handle 2,000 transactions per second. This is more than enough compared to various payment processors like PayPal.
Some of the key features that drive the use of the Tron network are high performance, high scalability, and EVM (Ethereum Virtual Machine) support.
Conclusion
If you are thinking of developing modern financial applications to run a business, here are some of the best blockchain platforms that can help you. Choosing one of them will ultimately depend on your specific requirements and factors such as security, supported languages, features, and smart contract functionality.
