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Open source software is mainly referred to as radical model intended technology used to enable an organization to expedite its development to reduce the entire cost involved as well as to increase the innovation for efficiency.
Generally, open-source projects don't generate much confidence in the international landscape, such as Bitcoin blockchain technology. However, the world is rapidly growing. People have started considering other open source Blockchain platforms for their blockchain developments.
So, if you are one of those people who is looking for the best open-source blockchain platforms, here's a consolidated list that provides an overview of these.
Open Source Blockchain Platforms
Monax
Earlier known as Eris, Monax is an open technology platform that enables developers to build, run and disseminate a wide array of enterprise-grade solutions providing different blockchain-based applications for varied business functions, ecosystems, and processes.
Monax allows you to entirely set out and develop your own low-cost secure, run-anywhere applications using smart contracts and blockchain technology.
Features of Monax
- Develop a group of a permission-ed chain for the individuals.
- The provision of a Smart Contract toolchain.
- An instrument to analyze the complete action step by step manner.
HydraChain
HydraChain's core software is open source and can be used under the permissive MIT license. Basically, it's an extension of the Ethereum blockchain platform, used to provide support for creating permissioned distributed ledgers. Hydrachain's primary area of application is consortium chain or private chain setups.
Features of HydraChain
Full Compatibility to the Ethereum Protocol
It's completely compatible with an API and contract level. Toolchains in existence can be used to develop and deploy Smart Contracts and DApps.
Customizability
You can freely configure the system's various aspects to fit your custom needs, such as transaction fees, genesis allocation, gas limits, block time, etc.
Openchain
Openchain is distributed ledger technology that is well-suited for organizations wanting to manage digital assets in a secure, scalable, and robust way.
- You can spin up a new Openchain instance within minutes.
- The administrator of an Openchain instance determines the agreements of the ledger.
- Allow end-users to exchange value on the ledger as per those rules.
- The underlying technology can digitally sign every transaction on the ledger.
Features of Openchain include
- Quick verification of transactions.
- Fee-less mining
- Highly scalable
- Protected through digital signatures
Multichain
Multichain allows users to develop Private Blockchains that an organization to facilitate financial transactions. A completely working Multichain network can conduct as many as 1,000 transactions per second. It offers a simple API and command-line interface to the developers to help develop and sustain the chain.
Features of Multichain
Permissions
Using Multichain's finely tuned permissions, you can provide entities the access to operate within the Blockchain, whether it's public or private.
Speed & Efficiency
Multichain provides a rapid development process where users can quickly develop new Blockchains and function properly with a permissioned network.
Conclusion:
These were some of the most prominent open-source blockchain platforms being used to fasten the development process.
Open-source software lays the foundation for revolutionizing technology by allowing entities to expedite development, increase innovation, reduce costs, and enhance efficiency.
Never before has an open-source project attracted such attention on a global scale as Bitcoin. However, now a day the digital world seems open to widely used open-source platforms.
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