Top Layer-1 Blockchain Comparison 2022
UniChain, ETH, BSC, Polka Dot, Solana
1. The consensus algorithm
Consensus is an algorithm that ensures all network nodes in the system can run the same program, talk to each other and give the same result. Each blockchain may have its own consensus protocol. The following table compares some consensus algorithms from popular blockchains
(*) theoretically, an unlimited number of miners may join the network as validators. But the mining hash rate power is in 5–10 mining pools.
In a blockchain network, the nodes (physical servers) which verify transactions/blocks and add data to the ledger are crucial. These nodes are called validator nodes, witness nodes, or miner nodes…
Each consensus algorithm may require a different type of validator node. The following compares the hardware specs of the validator node in different blockchain platforms.
2. The smart contract
Smart contract is a program that runs on the decentralized network. Typically, it is used to automate the execution of an agreement so that all participants can be immediately certain of the outcome, without any intermediary’s involvement or time loss.
Smart contract languages are the program languages that define the logic and the flow of the contracts.
The following table compares smart contracts from popular platforms.
3. Transaction throughput
Transaction throughput is the processing capacity that a network can handle in a second (Transaction Per Second or TPS).
(*) The dev estimation for TPS on UniChain is up to millions with side-chain architecture.
(**) Actual finality depends on users’ acceptance. The maximum is 75 seconds. Version release on Q2/2022 will be exactly 3 seconds.
4. The native token
The native token is a platform digital asset that serves special purposes such as paying for transaction fees.
5. The ecosystem and Others
(*) Based on Coinmarket cap (28/2/2022)