The market for Blockchain is growing. According to Cision they expect it to earn $20 billion in 2024. With a rising enthusiasm for Blockchain technology, the variety of platforms for development in Blockchain is expanding. And often it can be difficult to select the best platform to satisfy your clients’ requirements. Here is a brief review of the most effective Blockchain development platforms for 2022. We will also explain what you should consider when choosing the best Blockchain App development company.
Top Blockchain Development Platforms
Ethereum is likely to be the best choice since this network is among the fastest growing. And numerous designers across the world see this company as among the top Blockchain development platforms. It was established in 2013. Ethereum has gained prominence because of apps that are decentralized (dApps) that demonstrate the potential for Blockchain technology.
Main Highlights of Ethereum:
- Offers a real virtual machine environment
- Open-source platform
- Own programming language
- Own cryptocurrency “ether”
- Highly secured
- Valuable huge community
- Less downtime
Hyperledger Fabric is designed as a base for creating applications and Blockchain development services using a modular structure. It permits components, such as consensus services and membership, to be plugged-in and play and offer a variety of flexible and modular designs that can be used in a variety of industrial situations.
One of the most important characteristics in Hyperledger Fabric includes the creation of networks. The members in the Fabric network collaborate. However, since businesses wish to ensure that some of their information to be private, they generally have separate relationships with their network.
Key Highlights of Hyperledger Fabric:
- Higher scalability
- Best for non-crypto projects
- Offers plug-n-play components
- Enhanced security for Blockchain development services
Another well-known name in the world of Blockchain and among the top Blockchain-based development platforms is Solana. It is among the biggest in DeFi with regard to the amount of funds blocked. This Blockchain development company is a first-level platform without side chains or parachains. It’s open source and is decentralized. It owns its own cryptocurrency known as SOL. Solana utilizes a brand new cryptographic system known as Proof of History (PoH). It allows for higher scaling and quicker processing of transactions. As per Solana Foundation representatives, Solana can process 60, 000 transactions p/s.
Highlights of Solana:
- Own cryptocurrency SOL
- Top level Blockchain developers
- Higher scalability
- Fast transaction
Last year, Cardano came in third place in the market capitalization category, in comparison to only leading market participants Bitcoin and Ethereum. So we can’t overlook it.
Cardano is an incredible open source Blockchain platform. It has extremely talented Blockchain developers with smart contract capabilities. What’s exciting regarding Cardano is that it’s completely decentralized. The platform became fully operational and achieved 100% decentralization in 2021. Currently, the platform has more than 1500 pools of validators.
The key highlights of Cordano:
- Less expensive
- Unmatched transaction speed
Polkadot is a relatively new, but one of the most promising Blockchain development platforms developed by Gavin Wood. It was designed in order to build an all-Blockchain system that is an information exchange that is completely decentralized. This technology addresses the issues of interoperability and scalability. The design of Polkadot consists of para chains that allow you to extract permission information from private Blockchains and apply it on public chains. In this context developers can develop new Blockchains and connect them to existing ones.
Highlights of Polkadot:
- Great performance
- High scalability
- Best Blockchain developers
- Easy Blockchain development services
- Uncomplicated Blockchain development process
How To Choose a Blockchain Platform?
When selecting the best Blockchain development company to use for your project, you should carefully look at the relevant aspects to you and the fundamental requirements of the company. The following factors can be considered:
- Level of Confidentiality. Your company should have strict privacy and security standards.
- Security. Security is always important. Different Blockchains use different methods to ensure secure storage and transfer of information.
- Decentralization. Determine the level of decentralization your project requires and which platform will provide this.
- Speed of transactions and costs. If you choose to utilize the platform that charges a large cost for the development team, you must think about ways to improve the process.
- Scalability. Make sure that the best Blockchain development company you choose is able to take on a larger volume of work, while still delivering high performance.
- Rate of adoption. The last but not least is when selecting the cryptocurrency development system, you should consider its adoption rate. The more well-known an application is, the more likely it will be to draw more customers without a lot of effort.
Some Last Words
There are a lot of reliable Blockchain development platforms, however, we have chosen the best only. These companies can meet all the needs related to the Blockchain technology, starting with point-to-point implementation to finalization. It is recommended to look over each company before choosing one. Tell them about your project and then check which company could do it better.
Peter Handscomb is an expert app developer at MobileCoderz, an established Blockchain Development Company. With more than 16 years of professional expertise, he has worked with innovative startups and leading businesses. Apart from the app industry experience, he loves sports and is a fitness enthusiast.