What Is The Ideal Blockchain Network For Your Project?
Since Satoshi Nakamoto launched the first blockchain with the introduction of the Bitcoin network in 2008, many other blockchain networks have emerged. Some of the most popular ones include Ethereum, Tron, Cardano, Solana, Stellar, and so on. All of these are standalone blockchain networks with their own utility tokens and reward systems, and choosing the perfect blockchain to build a project on is sometimes an overwhelming task. Most investors only think about the good tokens and cryptocurrency projects and not about which blockchain network to implement their projects.
However, times are changing, and the first blockchain networks are not necessarily the best. This article discusses the significant blockchain networks and how to pick one for your project.
What Is The Ideal Blockchain Network?
1.Ethereum
Ethereum is one of the most established blockchain networks in the world. The bitcoin team of developers created the blockchain to support BTC, but Ethereum’s future was to become a programmable network with different applications. The future of Ethereum is now in play as the blockchain now has numerous decentralized applications (Daaps) hosted on its network.
Ethereum is commonly known as ETH or Ether, a token designed for making payments on the digital blockchain. It also supports decentralized finance (Defi) and other applications powered by blockchain technology. The blockchain is programmable, secure, and decentralized.
The Ethereum team has always aimed for scalability, so they made an update to the blockchain: Ethereum 2.0. The update switched the network from a proof-of-work (PoW) to a proof-of-stake model (PoS), which improved the security, speed, and scalability of the blockchain network.
Overall, the Ethereum blockchain is undoubtedly setting the pace for other blockchain networks to follow. It is a perfect blockchain network to host all your projects.
2. Solana
Solana is a modern blockchain network built to host decentralized, scalable applications. The blockchain network was founded in 2017 and has grown considerably large ever since. Solana can handle about 50,000 transactions per second, more than ETH and BTC. The Solana network solves problems such as high gas fees and transaction delays due to blockchain traffic.
Solana operates on a proof-of-stake model, which makes it safe, secure, and speedy. SOL is the token used for transactions on the blockchain network. So if you’re looking to host a decentralized application on a user-friendly blockchain, Solana is ideal for you.
3. Cardano
Cardano is another modern blockchain network that facilitates scalability and interoperability, unlike ancient networks like Bitcoin. Just like Ethereum and Solana, it also operates on the proof-of-stake protocol. It is an excellent alternative to several blockchains due to its speed and efficiency.
The network helps developers to create decentralized applications, tokens, and more. Cardano uses its token, ADA, to make payments on the platform. The Cardano blockchain team keeps updating the network, so it’s safe to say the network is excellent for your projects.
Conclusion
In the long run, choosing a blockchain platform to host your project ultimately depends on the type of project you’re looking to do. Nowadays, blockchain networks focus on decentralized applications and finance. For instance, Flutterwave is built on the Stellar blockchain network.
Take your time to pinpoint your project needs and select from the myriad blockchain options. A world of opportunities awaits you.
