Currently, there are at least 1,000 blockchains with at least four types of blockchain networks available in the market. Choosing the best one is a difficult task.
For choosing that one.
How would you know about the capabilities of all of these platforms?
Is the chain properly scalable?
In which language is the platform built?
Are they providing the updated resources?
How big is their developer community,
How is their ecosystem working?
Will they provide you with the necessary guidance during your development journey?
So now I know what you are thinking, â€œI am just a beginner in the web3 world, how would I knowâ€ about all these blockchain platforms?
Because youâ€™ll need to build a dApp on a blockchain as part of your development journey, and so you wonâ€™t be able to do unless you know everything there is to know about. Here, having the exact information about blockchain platforms plays a crucial role. Below are some choices for you. Have a look at it: Starting with the first one:
Created by Vitalik Buterin in 2015, Ethereum is widely regarded as the best blockchain on the market, and it is also well-known for its cryptocurrency. Ethereum is a platform that establishes a P2P network that securely executes and verifies application code, called smart contracts. Smart contracts allow participants to transact with each other without a trusted central authority. Ethereumâ€™s smart contracts are written in Solidity. In the meantime, there are already so many DApps developed on the Ethereum blockchain. About their community, Hundreds of thousands of developers, technologists, designers, users, HODLers, and enthusiasts call Ethereum home as there are hundreds of helpful communities available to help the While developing, you can participate in one of the many online forums about Ethereum, attend an event, join a meetup group, contribute to a project, or join one of the popular online communities.
ADVANTAGES OF ETHEREUM:-
Developers can create new tokens or decentralized apps on the network. They make these payments in ether, Ethereumâ€™s native currency. This fee is also known as â€œgas feesâ€.
Good documentation, tutorials, learning materials, developer tools (debuggers, unit test frameworks, test coverage tools, testnets, local blockchains, all these features make it more convenient for developers.
They facilitate developing dApps and reduce the effort for users to connect to the blockchain. The scripting possibilities combined with supportive tools are one of the major reasons why Dapp developers choose Ethereum for developing their Dapp.
For a long time, Ethereum was the only viable blockchain that a developer could use to build their DApp without forking and modifying the code of an existing blockchain like Bitcoin. A developer could simply write the necessary code for their application and upload it to Ethereum.
2. What is POLYGON?
Polygon is also both a cryptocurrency and a technology platform that enables blockchain networks to connect and scale polygon on the Ethereum internet of blockchains with high-frequency and low-value transactions. Polygon operates using the Ethereum blockchain and connects Ethereum-based projects. The Polygon platform provides the flexibility, scalability, and sovereignty of a blockchain project that is powered by both Matic tokens, which were launched to connect and grow Ethereum-compatible projects and are used to govern and secure the Polygon network as well as pay transaction fees. The Polygon Network is a secondary scaling solution designed to address Ethereumâ€™s limitations. Polygon also uses a modified proof of stake consensus mechanism that enables a consensus to be achieved with every block. The Polygon Community is a hub for all Web3 enthusiasts. In the ecosystem, you will get a separate investment fund for building dApps, a centric NFT, and a gaming hub to facilitate web3 integration along with Polygon DAO.
Here are the Advantages of Polygon :
The EVM is an app model that enables a Polygon developer to build decentralized applications (dApps). Developers can smoothly port their software to Polygon because itâ€™s well-matched with the EVM.
Developers through Polkadot can launch preset blockchain networks with attributes tailored to their needs. These can be further customized with a growing range of modules, which allow developers to create sovereign blockchains with more specific functionality.
Polygon provides a sidechain, a platform that connects to the main net and enhances the latterâ€™s performance. This innovative feature boosts transaction speed (throughput) and reduces gas fees.
The average block processing time is just 2.1 seconds. This platform offers consistently low transaction fees.
3. What is Alogorand Blockchain?
Alogorand (aka) algo is both a digital currency and a blockchain platform. The algorand platform is designed to process many transactions quickly. Algorand can host other cryptocurrencies and blockchain-based projects such as Polygon. Being the first user to use the modified Proof of Stake consensus mechanism Algorand makes it comfortable and cheap with low transaction fees. Algoâ€™s smart contracts are being written in Python. Algorandâ€™s technology is being used by over 500 worldwide organizations, enabling the simple establishment of next-generation financial products, protocols, and value exchange among DEFI, financial institutions, and governments.
Letâ€™s have a look at why you should choose Algorand to build on.
Algorand uses a unique Pure Proof of Stake (PPoS). This is a highly democratized PoS consensus mechanism with a low minimum staking requirement for participating in and securing the network â€” only one ALGO coin is needed to participate.
Developers can deploy the tokenization process directly on Layer-1 through a simple transaction. The assets are highly configurable and can be revoked or frozen. Minting and maintaining ASAs is super cheap, as Algorand charges fractions of a penny for transaction fees.
On Algorand, smart contract developers can develop stateful and stateless contracts through a programming language called Transaction Execution Approval Language (TEAL), although the contracts can also be written in Python and then compiled to TEAL via the PyTeal library.
4. What is the NEAR Protocol?
In simple words, The Nears Protocol is a layer-1 blockchain designed to provide the ideal environment for decentralized applications (dapps) by overcoming some of the downsides of the systems in competition. The network is known to run on a Proof-of-Stake (PoS) consensus mechanism, which is focused on offering stable fees and scalability.In NEAR, you can write smart contracts or build dApps using languages you already know, like rust and assembly script. Moreover, you can transfer tokens instantly between NEAR accounts. Near has many types of wallets to store all your transactions and send and receive cryptocurrency. Some of them are Near wallet, Trust wallet, Maths wallets, and so on. Apart from wallets, Near has many defi platforms like Mintbase, Metamon, Metaverse, Glyde, and Mintgate.
Letâ€™s dive into near protocol advantages
Near have many types of developer resources, including documentation, developer tools, certifications, grants, and many bounties to build your skill set more efficiently.
The Near protocol allows developers to deploy scalable and high-performance blockchain applications.
NEAR has a distinctive sharding feature and provides a robust ecosystem for decentralised application development. It has low transaction costs, high speed, and is environmentally friendly. NEAR blockchain focuses on the limitations of older generations of blockchain through its mechanism based on the sharding technique.
The NEAR protocol is known for its Whiteboard series on YouTube, where it invites the best developers of cryptocurrency to see how their respective crypto projects work in extreme detail.
5. What is Tezos?
Look, Tezos is a digital application blockchain distributed ledger network that regulates itself by creating a true digital wise commonwealth. Tezos wants token holders to work together to improve the protocol over time. Tezos (XTZ), uses a delegated proof-of-stake mechanism. Tezosâ€™s governance makes it different, Most early blockchains rely on development teams and mining communities to formulate new design choices. However, Tezos attempts to build the decision-making process into the network of users itself. Thatâ€™s why it is becoming the trending blockchain in the world. In effect, this means that the Tezos network remains decentralized. Tezos also includes a mechanism that allows for collective decision-making. Tezos token holders are allowed to vote on pending protocol developments.
Now we will move on to looking at the pros of using a Tezos Blockchain.
Tezos has plenty of resources and a strong, supportive dev community. Which is large, supportive, and long-lasting. The biggest factor in a long-lasting community is the demand for the skills you are all learning. A thriving community where everyone helps each other will be short-lived without a demand for the products the community is creating.
Michelson is used specifically for writing Tezos-based smart contracts. It is a functional language that allows formal verification. With that, developers can mathematically prove the correctness of their smart contracts code. But it does not mean that code is 100% correct and does not have any bugs.
Tezos, allows blockchain developers to create smart contracts and develop dApps. Michelson, Tezosâ€™ native smart contract language, facilitates formal verification, which is commonly used in mission-critical environments like aerospace, nuclear, etc.
6. What is Solana?
Solana is a blockchain platform designed to host decentralized, scalable applications with fast and low transaction fees and a good UX for builders compared to Ethereum. The Solana network is known as a fourth-generation blockchain that aims to solve the blockchain trilemma â€” creating a fast and scalable network without compromising on its security or decentralization. The protocol introduces eight core technologies that enable transactions to scale proportionally with the bandwidth, resulting in industry-leading transaction speeds and enterprise-level security. Solana can offer a decentralized platform for DApps with global scaling potential, without the network congestion and high gas fees of the Ethereum network. A collection of core learning resources for developers is onboarding on Solana including all types of DOCs, tutorials, developers series, and projects.
Letâ€™s know the advantages of the Solana blockchain.
Solana is almost 1000 times faster than Bitcoin and over 3000 times faster than Ethereum. The average block time is between 400 and 800 milliseconds, and the average transaction fee is 0.000005 SOL.
Solana has an amazing ecosystem that empowers developers to build apps on their blockchain. Solana has a program that allows you to create your crypto token on its blockchain. ERC-20 Tokens are similar to Solanaâ€™s program.
Solana is made to be the builderâ€™s choice layer 1 protocol: fast, with low transaction fees, and good UX for builders.
Solana ensures composability between projects. Developers do not need to deal with multiple shards or layer-2 systems.
7. What is Avalanche?
Launched in 2020 by the Ava Labs team, Avalanche is a blockchain platform that aims to address scalability, security, and decentralization through its unique Proof of Stake (PoS) mechanism. Like Ethereum, Avalanche supports smart contracts to run decentralized applications (dApps) on its network. Avalanche is written in the Solidity language, also used by Ethereum. It aims to create greater blockchain interoperability by integrating several (Defi) ecosystems, including well-established projects like AaVE and CURVE. Like other blockchains, Avalanche also has a native token of its platform, AVEX, used to power transactions in its ecosystem. AVAX serves as the means to distribute system rewards, participate in governance and facilitate transactions on the network by paying fees.
Now the question arises why should you use avalanche blockchain.
Ethereum-Avalanche Bridge, makes it stand out from the crowd.
AVAX, a suitable long-term investable crypto, is a combination of staking and burning.
In its scalability, Avalanche gives you access to 4500 TBS per subnet. There is no particular limit on subnets. Avalanche gives you 10,000+ TPS with higher spec machines.
About its tokenomics, every validator of a subnet has to validate the primary network as well as 2000 AVAX, where each subnet has its token.
8. What is the Binance Smart chain?
Binance Chain was launched by Binance 2019. Its primary focus is to facilitate fast, decentralized trading. An independent chain that runs alongside the Binance Chain. It has built-in smart contract functionality and compatibility with the EVM. BSC also boasts support for the rich universe of DApps and tools While it runs in parallel with BC, Binance Smart Chain is a standalone blockchain. This means that even if BC stops operating, BSC will continue to run its technical and business functions available on the platform. Smart contracts, which are Ethereum-compatible, are supported by BSC. Through this feature, developers can build or migrate DApps, tools, and other ecosystem components on the BSC network without much friction. BSC combines both delegated POS and POA to achieve network consensus and maintain blockchain security. PoA is known for its capacity to thwart 51% AUTHORITY, as well as its tolerance for byzantine attacks
Advantages of using the Binance smart chain.
1. BSC is currently one of the fastest smart contract platforms, Blocks are generated every three seconds, as opposed to 13 seconds for Ethereum, making it at least four times faster.
2. Binance chain is built with a double chain architecture, which allows users to enjoy the flexibility of transferring assets from one blockchain to another. Interoperability Binance Smart Chain offers users the opportunity to access extensive ecosystems with innumerable use cases.
3. Binanceâ€™s Cross-chain compatibility increases token liquidity, utility, and value. EVM-compatibility â€” choosing to fork the Geth Ethereum client makes BSC more familiar to Solidity developers, which gives the Binance network easy access to an already vibrant community of developers and users.
4. Binance Smart Chain allows users to easily transfer assets between blockchains. This interoperability allows users to access a robust ecosystem of applications. For DeFi lovers, interoperability is a key component, and BSC is at the top in making it a seamless experience.
9. Polkadot blockchain?
PolkaDot is a decentralized web3 blockchain with a core network â€” The chain where other blockchains connect and communicate with each other. It allows cross-chain interoperability (communication between different blockchains) in a scalable way. Polkadotâ€™s network also represents a significant breakthrough for developers who want to build a new blockchain from scratch. The relay chain determines the networkâ€™s shared security, consensus, and cross-chain interoperability. It is the engine that keeps the whole infrastructure together, connecting other network participants and providing transaction finality. Parachains use and take advantage of the relay chainâ€™s security and interoperability for the finality of transactions. Parachains can be tailored to a variety of use cases and feed into the main blockchain, known as the Relay Chain, which is considered the heart of the Polkadot and Kusama networks.
Advantages of Polkadot Blockchain.
Parachains are free to adopt any governance model. Access to sophisticated on-chain governance mechanisms reduces the hard forks of the Parachain.
Polkadot allows developers to launch chains and applications, without having to worry about attracting enough miners to secure their chains. Polkadotâ€™s parachains can use bridges to connect with external networks like Bitcoin and Ethereum.
The Polkadot ecosystem has an enormous outreach and usage. There are currently 188 projects building on it. This includes crypto-projects related to Defi, cryptocurrency wallets, infrastructure projects, tokens, Oracle, DAO, privacy, exchange, gaming, IoT, scaling, etc. like chainlink.
So here it all sums up, in the last, after knowing all the features of these blockchain platforms I hope that choosing one scalable platform will become a little easy for you, So keep following us for more informative blogs about this blockchain world and web3 technology. We will try to cover every topic about blockchain development Wanna know how to start your blockchain development check out this blog.