Top 3 Blockchain Platforms for the Enterprise – Part 1

Blockchain technology was initially used for financial transactions but can be applied to a variety of industries such as e-commerce, healthcare, and supply chain administration. A digital ledger, Blockchain is a decentralized currency and payment system that chronologically and publicly records transactions made in Bitcoin or another Cryptocurrency. Development solutions for blockchain are gaining popularity for secure transactions. 

Ethereum

Ethereum was initially founded by Vitalik Buterin to build decentralized applications and is a decentralized platform running smart contract applications. It is an open platform that uses Blockchain technology effectively to facilitate secure smart contracts and Cryptocurrency trading without a third party. The rise in Ethereum blockchain has led to the phenomenon of crowdfunding such as ICO (Initial Coin Offering).

Advantages of Ethereum

Ethereum gains from all the Blockchain technology properties on which it works. It is protected against any third – party interventions, which means that nobody else can control all the decentralized apps and DAOs deployed within the network.

Decentralized platform: This effectively means that there is no single point of failure and, as a result, apps remain online without being switched off.

Decentralized nature and cryptographic security: The Ethereum network offers protection against potential hacking attacks and fraudulent activity.

Open for public use, multiple language applications such as Python, C++, proof-of-work based, and large digital support community available are some of the features of Ethereum.

Keep watching this space for more.