Blockchain technology is still in its early stages of development, but there are a number of different platforms available. In this blog post, we will discuss the top 3 blockchain platforms comparison – Ethereum, Hyperledger Fabric, and IBM Blockchain Platform. We will look at the pros and cons of each platform to help you decide which one is right for your needs.
Blockchain platforms are entities with complex and powerful scripting languages that may be used to generate and administer a variety of Web3 tasks, such as NFTs, the launch and completion of transactions, and the development of smart contracts. In reality, smart contracts are regarded as the first application of a blockchain platform other than a cryptocurrency, and that application was Ethereum.
The application of blockchain technology has increased dramatically over the last thirteen years, from logistics to healthcare. Since then, it has shown to be incredibly adaptable and a helpful tool for safely keeping sensitive information.
Ethereum, the second-largest blockchain network and one of the most well-known and mature platforms on this list, is home to thousands of decentralized applications. It can be an excellent option for people wishing to create their own applications with the aid of software engineers because it fully supports smart contracts and has a strong developer community.
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However, a drawback of Ethereum’s popularity is that it frequently has poor speed. Comparing it to lesser-known platforms also reveals that it is highly pricey, with extremely high transaction processing fees.
Despite being a more recent technology, the IBM Blockchain offers a level of functionality comparable to Ethereum. In sense, functionality and adaptability were top priorities when designing this private network.
Enterprise clients from a variety of industries have proven to be the most popular users of this relatively low-risk blockchain technology. It can be utilized in a wide range of niches due to its high level of customization, user-friendly interface, and proficiency in several programming languages.
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This platform supports Go and Java programming languages.
The expensive maintenance expenses for IBM are one of its biggest drawbacks. Because of this, it is a less reasonable option for many startups. Additionally, you could not find the same number of support resources for it because it is less established than networks like Ethereum.
Hyperledger Fabric is a blockchain platform created by Linux that is intended for use by cross-industry applications. Fabric’s modular architecture substantially simplifies the process of developing complex blockchain solutions.
The fact that Fabric is a collaborative application is an additional advantage of using it. With so many developers contributing and assisting in the acceleration of application development, the platform today boasts an incredible array of useful plug-and-play capabilities.
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Despite the fact that this platform offers many benefits, because of its reliance on Linux, it may not be the best option for everyone. Additionally, it is really challenging to learn, particularly if you have little prior blockchain experience.
Within this top 3 blockchain platforms comparison, all three platforms have their own unique strengths and weaknesses, but Ethereum is currently the most well-rounded platform with a strong development community, wide range of use cases, and robust infrastructure. If you are looking for a platform that offers both security and flexibility, then Ethereum is likely the best option for you.
Regardless of which platform you choose, we encourage you to contact us so that we can help get you started. We have years of experience working with each of these platforms and would be happy to share our expertise with you.
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