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5 Notable Blockchain Platforms You Need To Know About in 2022

Blockchain is one of the most rapidly evolving technologies in today’s world, with a lot of revolution and research just getting started. Since its inception, Bitcoin has been the most popular cryptographic currency, and it is the best example of how Blockchain technology is used.

Blockchain is currently one of the most interesting technological advancements. It’s a distributed, encrypted database model that could solve a lot of issues with online trust and security.

The blockchain market is still growing at a breakneck pace. The number of blockchain development platforms is increasing in tandem with the growing interest in blockchain technology, and it might be tough to find the ideal framework to satisfy all of your business demands.

In this blog, we will examine the top five well established and emerging blockchain platforms and provide all the necessary pointers for choosing the best blockchain platform.

Top Emerging Blockchain Platforms  in 2022 

1. Binance Smart Chain 

Binance Smart Chain (BSC) is a relatively new smart contract blockchain created by Binance in late August 2020. It is a parallel blockchain to Binance Chain, which was created in April 2020 as a decentralized trading platform. Before BNB transitioned into being the native token of Binance Chain, it was an ERC-20 token created alongside the top exchange Binance in 2017.

Combined with Ethereum's recent network challenges, BSC’s attributes have made it an attractive option for blockchain applications to easily switch over. In fact, BSC processed 11.8 million transactions per day at its peak, multiple times the maximum volume on Ethereum—a sign that it has been able to address some of Ethereum's scaling concerns. As a crypto asset, BNB rose to as high as Top 3 in the crypto rankings driven by these factors—the growing number of use cases for the token and its utility as a utility token on the Binance exchange (one of the largest exchanges in the world by trading volume), among other factors.

2. Polygon

Polygon Network is a blockchain platform that is built on Ethereum and provides an internet of blockchains. It currently supports over 100 projects and services built on its APIs. Polygon Network aims to make it easier for developers to integrate the Ethereum network by providing functions such as state channels, payment channels, and off-chain data processing. Polygon Network's development team plans to develop decentralized identity solutions, digital asset trading platforms and smart contracts development tools.

3. Solana (SOL)

Solana is a decentralized blockchain protocol and a high-performance market infrastructure that delivers lightning-fast transactions and automated market settlement. The network uses a novel trustless system called Proof of History (PoH) to ensure fast transactions, while keeping a previous block’s hashes in perpetuity and allowing users to trustlessly build new blocks with these hashes.

Solana aims to make the blockchain more efficient, less expensive and quicker than existing decentralized systems such as Ethereum. Solana’s proprietary Proof of History technology will prioritize fast transactions and decentralization by building a trustless system that doesn’t require nodes to adhere to arbitrary computation. This more open approach creates a new kind of smart contract platform that can operate at greater speed, with lower costs in fees and computation fees.

4. Polkadot

Polkadot is a blockchain platform that aims to interconnect multiple blockchains into one universal network. Polkadot has two main components; The first, the relay chain, allows for inter-chain transfers and communication between two different chains. The second component is parachains (or parallel blockchains), which are connected to the relay chain and can see each other’s transactions. These parachains can communicate with each other and function as autonomous entities, but also via their relationship with the relay chain. Because of these features, Polkadot hopes to facilitate the exchange of information between different blockchains at all times and allows users to benefit from more efficient transactions without sacrificing security or privacy.

5. Cardano

Cardano is a decentralized blockchain platform that promotes smart contracts and Dapps. It’s programmed using a hybrid of proof-of-work and proof-of-stake algorithms, the latter being its main advantage over the likes of Ethereum. Cardano was launched in September 2015, when it forked from another cryptocurrency called Bitcoin after a dispute with some developers in the community. Its aim is to create an open source platform that helps users across multiple industries use blockchain technology more efficiently.

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