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Overview of Popular Blockchain Platforms

Overview of Popular Blockchain Platforms

A blockchain is a database that easily tracks and records physical or virtual data transactions across networks. Its built-in features stop illegitimate transaction submissions, which makes it easy for you to establish an unchangeable and immutable ledger that can be used in various business processes. The blockchain also allows you to manage orders, payments, accounts and other assets.

There are a wide variety of Overview of Popular Blockchain Platforms platforms available on the market that cater to different needs and requirements. Some are better suited for businesses that prioritize security, while others are designed to improve speed and affordability. You can even find blockchains that support smart contracts, which are essential for automating actions and enforcing rules on the platform.

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Ethereum is an open-source blockchain network that is characterized by its high scalability and accessibility for developers. However, it is susceptible to a number of weaknesses, such as lengthy processing times and high transaction costs.

Ripple is a blockchain network that focuses on improving cross-border payment efficiency and offers a range of services to businesses that prioritize speed and affordability. Its native coin, XRP, has a market capitalization of nearly $20 billion.

Launched in 2015, Corda is a distributed ledger technology (DLT) platform that was created by the R3 consortium and has a strong following within the financial sector. The platform is a permissioned blockchain that offers real-time transaction processing and supports complex agreements, which are often more complicated than simple terms of trade. It also has a unique consensus mechanism that takes into account the reality of managing complex financial agreements.

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