Blockchain technology has gained popularity in recent years, with cryptocurrencies, such as Bitcoin and Ethereum, gaining prominence.
However, the significance of this technology does not end with just the virtual currencies; it has an even broader scope of being used in various other applications, such as digital identity management, smart contracts, and transparent governance systems.
The non-financial applications of blockchain will surely surge over the next decade due to its unique characteristics that are unmatched by any other technology currently available in the market.
These top 8 blockchain platforms represent some of the best places to start your search when it comes to investing in the world of blockchain as it grows and changes in 2022 and beyond!
1) Bitcoin (BTC)
It’s hard to talk about blockchain platforms without mentioning Bitcoin. Bitcoin is a peer-to-peer version of electronic cash that allows online payments to be sent directly from one party to another without going through a financial institution.
The blockchain technology used by Bitcoin is a fascinating development in financial technology (fintech). Blockchain advocates will tell you that it will do to banking what email did to the postal industry.
It eliminates the need for trusted third parties, and, like email, it allows senders and recipients to communicate directly and instantly with each other anywhere in the world.
No additional fees or delays are incurred as everything is handled on a trustless network of computers. Some say blockchain can completely revolutionize how we manage data, assets, identities, and transactions. And if you’re thinking of investing in cryptocurrencies, then learning more about blockchain should be at the top of your list.
2) Ethereum (ETH)
Since 2015, Ethereum has become a decentralized software platform that enables smart contracts and Distributed Applications (ĐApps) to be built and run without downtime, fraud, control, or interference from a third party.
The applications on Ethereum are run on its platform-specific cryptographic token, ether. Ether is like a vehicle for moving around on the Ethereum platform and is sought by mostly developers looking to develop and run applications inside Ethereum.
Developers pay ether to deploy their apps on the platform, much like paying rent to have a storefront in a mall. According to Ethereum, it can be used to codify, decentralize, secure, and trade just about anything.
This includes industry leaders like Microsoft who have partnered with us here at ConsenSys Enterprise.
3) EOS
Built on an Ethereum smart contract, EOS aims for mainstream adoption with a platform that allows for quick and easy deployment of decentralized applications.
EOS provides services like user authentication, databases, and asynchronous communication between applications as a blockchain operating system.
There are already many projects built on top of EOS, including Everipedia, which boasts more than 2 million articles about real-world topics. This kind of application could be used in any sector where information is crucial to day-to-day operations—healthcare or legal industries are apparent use cases.
4) Cardano (ADA)
Cardano is founded in 2017. The team, led by co-founder Charles Hoskinson, builds Cardano on scientific philosophy and principles, intending to deliver more advanced features than any previously developed protocol.
This blockchain platform’s first use case was in payments, but more are expected soon. ADA has already been listed on some of the largest cryptocurrency exchanges, including Bittrex and Binance.
It also has a market cap of $1 billion as of December 2017, making it one of the most popular blockchain platforms today. More importantly, it allows users to create their smart contracts through its Plutus language – which means that ADA could be used for anything from simple financial transactions to creating new cryptocurrencies entirely.
5) NEO (NEO)
This blockchain platform is often considered China’s answer to Ethereum. While it started in 2014 as AntShares, it rebranded in 2017 and quickly became one of China’s most popular blockchain networks.
Last year, NEO raised $2 million in just five minutes during its initial coin offering (ICO). The NEO token is also well known for being used for ICO tokens issued on its blockchain.
For example, Red Pulse (RPX) uses RPX tokens that were issued on NEO’s blockchain. It has a market cap of more than $1 billion. One of NEO’s biggest strengths is its flexibility—it can be used for smart contracts, digital assets, and decentralized applications. Its development team is also very active, with updates made regularly.
6) Qtum (QTUM)
One of many blockchain platforms that are using a proof-of-stake (PoS) system. Qtum’s core technology combines bitcoin and Ethereum—meaning it can process intelligent contracts, too.
Its price has doubled since August. Don’t want to deal with cryptocurrency? You can hire blockchain developers in India or create your cryptocurrency and go directly through them.
This might be better for companies with no background in blockchain development but still want to use blockchain for their business. It will also likely be cheaper than paying a blockchain company to build you an entire blockchain platform.
If you’re looking at cryptocurrencies as an investment opportunity, though, bear in mind that they aren’t all created equal: They vary significantly based on factors like market capitalization and adoption rate.
While some blockchains offer advantages over others when it comes to building businesses on top of them, no single blockchain will win out over all others—at least not yet.
7) Lisk (LSK)
Formerly known as Crypti, Lisk is a cryptocurrency and decentralized application platform that allows developers to create their dApps (decentralized applications) on top of its blockchain. The Lisk Foundation, based in Zug, Switzerland, will maintain and administer it.
The Initial Coin Offering of Lisk in February 2016 was oversubscribed within two weeks. LSK is currently traded at various exchanges such as Bittrex, Poloniex, Shapeshift, and Changelly.
Since its inception, it has grown steadily, with a market cap of $1 billion. By 2022, we can expect it to be among the top 10 blockchain platforms in market capitalization.
8) Stellar Lumens (XLM)
Launched in 2014, Stellar Lumens is an open-source protocol for digital payments. The cryptocurrency runs on a blockchain and uses Lumens (XLM) as its digital currency. Led by Jed McCaleb and Joyce Kim, who previously launched Ripple, Stellar has gained notoriety for its potential in cross-border money transfers.
It boasts transaction times of 2–5 seconds and fees fractions of a penny. One notable partnership with IBM will be used for cross-border transactions between large banks.
Stellar aims to become a standard blockchain technology behind financial institutions, enabling quick and cheap transactions. The platform is handy for mobile payments in emerging markets.
Read Also: 10 Most Lucrative Cryptocurrency Business Ideas in 2022
Conclusion
Blockchain technology and cryptocurrencies are expected to bring a plethora of changes to many industries in the coming years. But, before you start investing in blockchain platforms and deciding which ones to invest in, make sure you do your research well.
In this blog, we’ve discussed the top 8 blockchain development platforms to invest in 2022 and beyond.
As soon as you have decided on some viable options and believe they will serve your purpose well, it’s time to hire the best blockchain software development company in India.
Good Luck!