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We are living in a technologically advanced era where there are many different types of technological solutions being used by businesses from all over the world. But the best thing about the current technological evolution is that almost all the small and medium-sized businesses are also coming together and working on using the best technological solutions available. But just because we are living in the technologically advanced era and just because we are using the power of technology, it doesn’t mean that we can use any technology. Well, one such technological solution that we are going to discuss in this blog post is blockchain.
The very powerful blockchain technology is helping many businesses to streamline their trade and improve their overall supply chain system but at the same time. All the businesses out there need to make sure that they are using one of the best blockchain platforms out there as there are many blockchain platforms in the market.
Well, interest in blockchain has grown in the last couple of years and this trend will keep rising in the future. To make things easier for you, we have come up with a list of different blockchain platforms available in the market.
If you are going to search for blockchain platforms in the market then the first platform that you are going to stumble upon is IBM blockchain technology as this is one of the most powerful blockchain platforms out there that is used by a wide array of businesses. The IBM Blockchain developer tool was designed to be flexible, functional, and customizable. IBM has also invested in creating a user-friendly interface to simplify critical tasks, such as setting up, testing, and rapidly deploying smart contracts.
Rakesh Mohan, IBM director of development for blockchain solutions, said the company has seen significant progress in financial services and banking, as well as supply chain. There are many examples of how IBM has successfully used the blockchain technology and its platforms and some best examples include IBM Food Trust, which has completed more than 18 million transactions representing more than 17,000 products, and Blockchain Community Initiative in Thailand, which supports services like payment obligations and enterprise auctions for 22 Thai banks.
There is no denial in the fact that there are many blockchain technological solutions out there and you must have heard about the big names only but you should know that there are many unpopular blockchain technological solutions that can be used in your business without any worry and one such blockchain technological platform that is quite effective is Chain Core. This blockchain technology is used by almost all the small and medium-sized businesses out there.
This platform lets you manage financial assets through a permissioned Blockchain System. With applications mainly in the financial industry, Chain Core can manage any number of independent blockchains by maintaining their ledgers or can act as a blockchain client for different permissioned blockchains.
There is no denial in the fact that most people have to deal with the complexity of blockchain as this powerful technological solution is not as easy to use as other technological solutions. But if you are lacking the technological expertise and still looking forward to using the power of blockchain then you can always switch to the very useful and easy-to-use Hyperledger Sawtooth. This is one of the most popular names in the world of blockchain and it is growing at a very fast pace.
Another open-source blockchain initiative hosted by Hyperledger and the Linux Foundation, Hyperledger Sawtooth uses a novel consensus mechanism called Proof of Elapsed Time that can integrate with hardware-based security technologies to allow "trusted execution environments" of program code to run in secure enclaves, which are protected areas of computer memory.
Work has started on a Sawtooth library that will enable developers of custom distributed ledgers to pick and choose which pieces of Sawtooth they use in their application. At the same time, Sawtooth is adopting Splinter for networking, which will provide dynamic private circuits (groups of nodes); Hyperledger Transact for transaction processing, which will extend smart contract capabilities; and Augrim for consensus, which will expand the number of supported algorithms.
When it comes to blockchain technology then there are many big names but this doesn’t mean that all the big names in the blockchain world will be helpful in your case. Well, you must make sure that you are choosing a blockchain technology or what people usually call a blockchain platform not on the basis of popularity but on the basis of how useful it can prove to be for your company and the very popular and useful Openchain makes it to the list because it fits like a glove in the blockchain need of each and every type of business out there.
Open chain is an open-source distributed ledger technology suited for organizations wishing to issue and manage digital assets in a robust, secure, and scalable way. It provides a single authority for the verification of transactions. Every organization has its sole instance of the ledger containing transactions that can be connected if needed.
If you are going to use the open-chain powerful technology then there is no way you are going to deal with any of the difficulties that usually comes along with the blockchain technological solution and this is one of the main reasons why this powerful blockchain technological solution has made it to the list in spite of the many big names in the market.
Choosing the right type of blockchain platform is necessary as the market is crowded with a wide range of technological solutions that can be used by each and every type of business out there without worrying about the complexity and without worrying about any other issue that comes along with blockchain.
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