Although cryptocurrencies received the most media coverage in the past years, blockchain remained an underrated technological advancement few are aware of. Without blockchain, there couldn’t be cryptocurrencies, as these distributed ledgers offer the security and transparency needed in the transactional process.
Blockchain is special because developers can make it useful in real-world industries, from supply chains to healthcare. The technology provides enhanced security, transparency, and traceability.
At the same time, blockchains ensure the smart contract function, which achieves automation.
Numerous blockchain projects are on the market, some more special than others. Ethereum, for example, is one of the most innovative ledgers, having merged from different consensus mechanisms and adopting a broad array of developer tools. However, its high transaction fees and congestion led to the development of competitors, like Tron, which is affordable and fast. Tron has a different incentivization process than Ethereum, so investors making a Tron coin price prediction should consider the number of representatives in the community who contribute to its rewards.
However, Tron is only one of the many blockchain projects worth looking at in the future. Let’s analyze some of them.
Solana
Solana is a Web3 platform created for decentralized and scalable applications. The open-source project is one of the fastest blockchain technologies on the market, providing high processing speeds and low latency.
Based on its consensus mechanism, Proof of History, Solana leverages efficient technologies, whereas the use of Proof of Stake allows participants to reach an agreement and stake the cryptocurrency. Both consensus mechanisms provide faster synchronization and faster transaction processing. On the other hand, they address concerns like hardware variations and the use of Application Specific Integrated Circuits.
Solana’s network architecture works with systems like:
- The Gulf Stream that determines the transactional exchange;
- The Sealevel engine assigns transaction order and execution;
- The Turbine technology that defines nodes’ work;
While there are numerous Solana benefits, validators currently face high investment requirements and low returns. At the same time, the network nodes are rewarded asymmetrically, meaning they’re not treated equally.
Corda
The Corda blockchain platforms are unique. They work with cloud-native technologies through which users can configure their app deployments. The open and permissioned infrastructure is based on the Proof of Concept mechanism, through which developers fractionalize and democratize digital assets.
Corda is unique on the market due to:
- Native smart contracts that eliminate data reconciliation;
- Being compliant with regulations like ISO 20022;
- Native interoperability on the CorDapp exchange;
An increasing number of institutions choose the Corda blockchain for its fast and future-proof technologies, which can support rapid business expansion. At the same time, the cloud-native features ensure an efficient deployment experience, achieving consistency and immutability.
Corda’s architecture leverages horizontal scalability, which allows companies to start a project in a centralized way and then decentralize their way out. The low-cost ownership feature is also a benefit that comes with peer-to-peer communications.
Bitcoin SV
The original Bitcoin blockchain, BSV, offers competitive benefits for use4rs, including micropayment, scalability, and low fees. It can withstand about 5,000 TPS while supporting an unlimited block size through which scalability is secured.
Enterprises and entrepreneurs use the BSV blockchain to create decentralized apps across various sectors, from accounting and asset management to e-signing and gaming. The BSV library shows precisely how widespread the technology is among companies.
There are four pillars of BSV technology:
- Scalability that meets the networks’ demand;
- Stability is reached through its protocol;
- Security through a regulation-compliant blockchain;
- Instant transactions for low and predictable costs;
As the blockchain continuously develops, the roadmap to development includes new implementations, new website designs, and protocol restoration through which BSV can address emerging concerns for companies.
Hyperledger Sawtooth
The Hyperledger Sawtooth project is part of the Hyperledger enterprise, which provides tools for creating distributed ledger applications and networks. The technology focuses on enterprises and blockchain-as-a-service (BaaS).
The Hyperledger Sawtooth blockchain supports various programming languages, from Python to Rust, to create smart contracts. It’s also interesting that it leverages the benefits of the Proof of Elapsed Time consensus mechanism through which the blockchain ensures low resource utilization and energy consumption. The mechanism also settles mining rights and blocks winners.
Although the project is no longer in massive use, developers can still contribute to the code and add to the ongoing maintenance of the blockchain. The project has massive potential due to its on-chain governance and support for Ethereum.
EOSIO
The free, open-source blockchain is aimed toward enterprise-grade performance. Developers use EOSIO to deploy digital infrastructures based on end-to-end authentication for superior data integrity. At the same time, the developer-focused technology provides various tools for any user with expertise to scale projects.
EOSIO is highly configurable, and since it’s also fast, flexible, and forward-drive, it’s a blockchain industry-leading performance player on the market. Although it builds on C++, the simple yet straightforward language allows everyone to tap into the blockchain and contribute.
EOSIO has numerous unique features as a network, such as the following:
- Automatic failover and disaster recovery;
- High-performance query;
- Debugging tools for developers;
- Immutability and audibility;
Why should you invest in blockchain technology?
While most investors add cryptocurrencies to their portfolios, diversification is important, meaning they must explore industries, use cases, and technologies that can bring value to the portfolio. Investing in emerging blockchains can turn into profitability in the long run as they become more needed in the industry. For example, this was the case for Ethereum, the blockchain that gained a lot of popularity due to its expansion of developing tools. At the same time, more companies are approaching blockchain technology to stay on top of the competition and scale their systems like never before.
What do you think about these blockchain projects?
The future of crypto and blockchain technology will shape the modern era into a decentralized and immutable approach to business. Projects like Solana, Corda, or EOSIO are becoming more popular among competitors due to efficient and cheap products and services. At the same time, their increasing value makes them profitable additions to investors’ portfolios.
