There is often a tendency to confuse blockchain with cryptocurrency. In reality, they are two completely different systems and partially dissociated from each other. Cryptocurrencies are real digital currencies that are used to purchase goods or services virtually. The exchange of cryptocurrencies takes place on distributed platforms. Blockchains, therefore, are the tool through which goods and services can be exchanged and digital currencies used.
The types of Blockchain are divided into two major groups: permissioned and permissionless.
Permissioned and permissionless Blockachain
Permissioned Blockchain are private networks, which require permission from a central node to access. They are usually preferred by established corporate structures, which need to exert centralized control over users. Permissioned also provide for a rigidly circumscribed user base qualitatively and numerically.
Permissionless types, in contrast, are public and access is granted to all who wish to subscribe. In this case, the large spread of users, which would seem to threaten the need for security, finds in the parcellation of control its best asset. Simply put, everyone controls everything. Better yet, total visibility is the best possible deterrent against any attempt at illegality or impropriety.
Interest in Blockchain is growing exponentially, and the increase in numbers is leading to a gradual differentiation and characterization of increasingly subtle specializations. Some of the most interesting distributed platforms have their roots in the origins of Blockchain, such as Bitcoin, while others are much more recent.
The 10 Blockchain that have changed the world
- Ethereum was created in 2013 and is one of the oldest Blockchains. The main feature of this platform is the ability to enter into Smart Contracts in addition to allowing users to develop financial apps, decentralized marketplaces and more. To date, this platform is one of the largest and best known in the world;
- IBM Blockchain is a platform that tends to promote transparency in economic exchanges. Through a user-friendly interface, it facilitates user access and simplifies complex transactions. The platform can also be used by users to develop their own network within the Blockchain;
- Chainanalysis KYT. The acronym KYT stands for “Know Your Transaction”: in fact, the platform allows users, through an easy-to-use interface, to personally monitor transactions;
- Tron is capable of carrying out thousands of transactions per second, thanks to its scalability, while continuing to guarantee the security of exchanges. Scalability gives Tron immediate elasticity and adaptability in the case of major variations in the volume and type of transactions carried out. Currently among the most widely used, it is one of the fastest growing platforms. This expansion is in large part due to the ability to conduct transactions at no additional cost;
- Stellar allows the exchange of different currencies such as dollars, Bitcoin, pesos and others, which is why it is widely used by banks. This Blockchain ensures transparency and keeps the network constantly updated;
- MultiChain enables the creation of customized Blockchain, public or private. It can be considered a symbol of creative democracy. Rules and operations are devised and modified without limits. The database can hold a huge amount of data. The blockchain can be modified until the multichain-util text is uploaded: once the operation of the platform is established, no more changes can be made;
- Eos can be considered a cross between Bitcoin and Ethereum because it supports several features of both. This platform also allows the creation of numerous dapps (decentralized applications) totally left to the free initiative of the adherents and guarantees security and low costs to the transactions that are carried out on it;
- Hyperledger Fabric as the name suggests, aims to provide the necessary tools for software creation, prioritizing the need for control through the structural enhancement of the ledger, the shared register. A special feature of this chain is the substantial differentiation between users and validators. There is also a special clause for the use of chaincodes, called deploy and invoke, thanks to which the user can use and fix with repetition his personal access code. This platform, based on the IBM Blockchain has the ability to transform the structure of business and to connect different networks, such as enterprise networks, to collaborate together and be connected;
- Klaytn has an architecture suitable for different types of networks, this feature allows it to operate in different ways depending on the services being offered, and any online operation can be completed through this platform. It basically works like Facebook’s Libra reta, which has now become Diem and is anchored to a stablecoin, giving rise to Diemdollar. Similarly, Klaytn has overcome the banks’ distrust of it by creating a constantly updated dollar relationship, much to the relief of users worried about the threat of investment volatility;
- Ripple provides faster, transparent and cheaper solutions than other Blockchains, from a business perspective. This tool is mainly used for buying crypto, facilitating instant payments and generating new revenue given the low capital required to access it. The Ripple label, more correctly referred to as the Ripple Transaction Protocol, enables the immediate transfer of large investments quickly and in any currency, with potential for rapid expansion on a global scale.
These are just a few of the many registers distributed within the reach of users. Any platform must be understood and studied in depth to discover and analyze all its positive and negative aspects. The ability to trade online quickly and easily appeals to many, but it is essential to know in depth the tools one uses.