Something about the main open source Blockchain platforms

In today’s article we are going to discuss the main open source Blockchain platforms and determine their pros and cons.

Main blockchain platforms

Let’s start with discussing the most famous and widely used open source Blockchain platforms on the market. The most popular of them is Ethereum platform that lets anyone build and use decentralized applications that run on blockchain technology.

There are many other popular platforms such as NEO, EOS and NEM that also have wide prevalence among developers and function approximately the same as Ethereum platform but with slight differences.

Ethereum clearly has some issues that many of the third-generation platforms are trying to address and to rectify. In order to solve such problems different alternative chain technologies appeared.

Alternative platforms

Recently, with the development of blockchain many new chain technologies appeared. The most successful among them are OpenChain, HydraChain and MultiChain.

OpenChain is an open source distributed ledger technology. The consensus mechanism used by the technology differs from other Bitcoin-based systems, it uses Partionned Consensus which means that every OpenChain instance only has one authority validating transactions. Open-chain directly appends transaction to blockchain without forming the block which makes it superfast in confirmation of the transaction but, at the same time, less resilient and less secure.

HydraChain is an extension of the Ethereum platform which helps to create a Permissioned which is attached to the Distributed Ledgers.The application in this software is private chain oriented and is mainly set up for the financial industry.

MultiChain is an opensource code that can be used to create an actual new and unique blockchains, like Bitcoin and Ethereum. In other words,It also might be considered as a piece of code that enables any number of separate blockchains to be created, and it's optimized for permissioned rather than open blockchains. In that sense it's just like a database platform that enebles smart-contracts to function.

In this article, we talked about different blockchain platforms presented on the market. DUCATUR is going to work with three of them. In next article, we will compare these chain and describe pros and cons of each of them.

Sincerely, George Bell.
Participated in the development of Swissborg ($ 50,000,000), has been an advisor in multiple projects. Co-founder of a top10 ICO Agency - Crynet.
P.S. I will gladly answer any questions you have about the project.

DUCATUR is a framework that allows you to create oracles for
reliable data exchange between the interacting participants on
the blockchain. That would be a system in which you always trust
the received data and which provides a reliable connection
between the blockchain and external information.
The product is a set of smart contracts and an off-line node with
an interface between them.

OUTCHAIN LTD.
71-75 SHELTON STREET
COVENT GARDEN
LONDON
+44 (0) 737 611 6343
sales@outchain.co.uk

George Bell
ads@ducatur.com
Telegram @advisorbell

This release was published on openPR.