Since it’s evolution, Blockchain is presenting scads opportunities for every sector (industry) to propel business transactions in a secure way accompanied by an escalated level of trust. By adopting the disruptive, innovations of Blockchain platforms like Bitcoin, Hyperledger, and Ethereum, flaws related to confidentiality, scalability, privacy and global performance have been improved significantly, which have long hampered the foreground of various businesses around the globe.
It’s the decentralized nature of the blockchain technology, a myriad of operations like AML, KYC, financial services and industries like Health, Insurance, Oil & Energy, and Intellectual Property have found unconventional solutions to a range of challenges confronted by them. These sectors are exploring the potential of Blockchain and investing heavily in this innovative technology to form privatized and uninterrupted networks that execute transactions in a secure way. The rise of Ethereum blockchain coupled with the capability of smart contracts has formed unique crowdfunding solutions like ICO (Initial Coin Offering). ICO is one of the innovative ways of providing hassle-free investment options in a shared, trusted sphere. Thus, the decentralized architecture of this one of the best blockchain platforms offers a genuine conundrum to online fraudulent activities.
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Designed and developed as an open-source, Hyperledger is a confidential and permissioned platform to deliver extensible, elastic and out-of-breed architecture. The platform is best to use in the capital markets where the amounting transactions volume get divided for carrying out the chain-code execution. One of the primary goals of Hyperledger is to create enterprise-grade distributed ledger codebases and frameworks. It boasts 180+ collaborating enterprises across finance, Internet of Things, supply chain, banking, technology, and manufacturing. This platform emerges as an attractive blockchain platform for enterprise solutions as it allows plug-and-play components around membership services and consensus. The release of Hyperledger Fabric 1.0 has been launched and is claimed to be a production-ready for enterprises.
Monax (Earlier Eris):
Monax application platform offers blockchain developers a logical base where they can build, test and operate applications ecosystem. It supports an array of blockchain nodes connected to multiple blockchain networks with several smart contract interpreters. These interpreters are associated with several micro-services required to build, test and run the application of the ecosystem. That’s how Monax keeps all the components, required to create blockchain-based applications and smart contracts. With an objective to help the technical experts to execute automatic operations of all data-driven processes, Monax is a platform that alleviates the sophistication level of the applications based on the blockchain technology to a larger extent.