Various frameworks that make it easier to build and launch niche-focused and purpose-built blockchains

Blockchain is one of the most important technologies of modern times, and it has great usability in defining software solutions for many industries. The major reason behind piquing interest of people in the technology is due to its unprecedented security. No matter what industry or software you are building, Blockchain is going to make it easy for you to secure it. Finance, commerce, healthcare, government, agriculture, and the list goes on of the industries that are using various Blockchain frameworks to improve security and governance of the software applications.

However, even then, you must not forget the importance of choosing the right framework to build a purpose-driven Blockchain. You need to choose the framework that works out best for your application and provides you the necessary tools to gain scalability in the project. In this blog, we would be discussing the most trusted Blockchain frameworks and compare their characteristics to help you come to the right decision. You can use the technology for cryptocurrency app development, big data, SaaS development, and more.

How to choose the right framework?

A framework of technology gives you the flexibility to change the major elements of the application without having to work on building a foundation. In simple words, frameworks make it unbelievably easy for you to build feature-rich software solutions while reducing the development time and simplifying the entire process.

They are designed templates that would give you a headstart in the process. They would pre-define how the application or program would work, how it will interact with the database, how the payment system works, etc. You would just be required to tweak things that would make or break the experience of the application.

Important Blockchain Frameworks that you must know of

In this blog post, we are sharing some of the most trusted frameworks for blockchain app development. However, we recommend you consult a blockchain development company to know which frameworks work out best for your project. Also, each of the frameworks mentioned in the blog is good; only the individual differences would decide what framework is good at meeting your needs.

Hyperledger

Hyperledger is an open-source framework that was launched in 2016. It is a modular system that allows customization of specific transactions and projects. You can use the frameworks for the projects in which you want to hide channels and information; it would only be available to relevant users.

It allows you to build a stable large-scale system. It offers a broad interpretation of the consensus and gives you an opportunity to create blockchain solutions that meet your needs, such as data search, smart support contracts, etc. This makes it a good framework for big data solutions.

Hyperledger works best with the development technologies such as Java, Golang, and more. Hyperledger has open network connectivity, an agreement that allows business logic automation and processing. It helps eliminate the issue of mutual trust between participants in the transactions.

The framework focuses on the cryptocurrency-based blockchain model. The operation targets the modular building blocks of the Blockchain in order to gain support in global solutions.

Corda

The framework was created by the R3 CEV consortium. The main function was to record and monitor the execution and synchronization of the financial transactions between regulated and finance companies.

The platform is known for separating the data that is recorded on the registry, the data that is publically available, and the data that never gets into the registry. This framework brought in more transparency and security in the financial world.

The uniqueness of the platform is that the data that never gets registry chances the as the transactions that are validated, that is when the determined cooperating parties comply with the rules. The downside of the framework is that it is only partially open-source; it involves third-party developers and suppliers.

Quorum

An open-source framework developed by JPMorgan, Quorum is one of the fastest frameworks. It executes the transactions at the rate of one hundred per second. There is a pre-planning option on the platform.

The principle operation is preserved according to the modular system. The developed actions of the platform are aimed at writing code that is compatible with various programming languages. In general, the system comes with features that are similar to Ethereum, but a lot is expected from it as it is only a prototype.

Talking of the similarities with Ethereum, the platform is not very different in coding and logic. Quorum implements its work with Truffle and Remix, and Solidty tools. The interface is user-friendly, and it giveaway recommendations on the sequence of actions and development plan. This means you can hire a developer with intermediate coding skills and not have to pay for the expensive programmers.

Ethereum

Ethereum is a well-known name in the crypto world. At the technical level, it is easy to distinguish the “transaction layer” from the “smart contract layer.” It is referred to as ICOs and DApps in the platform.

It is an open-source framework. Ethereum is widely used in big data development services; it is one of the best frameworks for non-financial solutions. It helps in maintaining the anonymity of both the transactions and contracts in the banking and related industries.

Exonum

Exonum is a software development package that offers actions that are aimed at decentralizing the storage of information based on blockchain development technology. One of the best uses of this framework is that the framework includes open actions of each participant without exception, fault tolerance, easy audit, compactness of data, and easy accessibility to information.

Exonum prevents double entry, bookkeeping, and the elimination of document fraud. It makes an excellent solution for companies that require fast transactions say like 5,000 transactions per second.

Openchain

The system is based on RR instances; all the elements of an asset have full control over all transactions associated with it. It gives full control over the digital asset life cycle possible.

The framework offers extreme scalability, speed and offers a simple interface, simple technical components such as SQL, API, JSON, the hierarchy within the framework, own rules for exchanging and verifying transactions within the node, the ability to create admin, etc. It is an open-source framework which makes it even more desirable in the current development environment. The framework allows easy management of processes at all levels efficiently.

Multichain

Multichain is an open-source development platform and is used for building private chain applications. The framework offers easy elimination of the problems that are limiting the transparency in the application. It allows institutes to exercise control over the transactions as well as abandon distributed mining.

Some other benefits of using this framework include support for several currencies at once, the ability to micromanage the assets between participants, and quicker deployment.

Wrapping Up

These were some leading frameworks for Blockchain. If you are looking forward to using Blockchain in any of your projects, contact our technology consultants. We are an experienced Blockchain development company that can help you in learning the necessary features and characteristics of the technology and which framework should work best for your project.