Blockchain Technologies
10 Most Important Blockchain Technologies
- August 2020
There's definitely a lot happening in the world of blockchains these days, especially when you're all new to this, it can be overwhelming to understand where to look and which companies to keep in mind.
This article includes a list of 10 most notable and important blockchain technologies in the market right now, chosen by the SwipeX team. Some of them are very well-known, some of them not yet.
These Technologies are:
1. Bitcoin
Bitcoin probably doesn't much of an introduction. It is the most well-known cryptocurrency in the world and also probably the reason we're talking about blockchain technologies today.
Bitcoin was invented in 2008 by an unknown person or a group of people under the name of Satoshi Nakamoto and started in 2009 when its implementation was released as an open-source software. It is written in C++ programming language and it's blockchain has a limited supply of 21 million bitcoins.
Use cases:
- Digital payments
- Store of value
- Charity and humanitarian aid
- Circumventing Politics
2. Etherum
Another very well-known cryptocurrency. Ethereum was created by Vitalik Buterin, Gavin Wood, and Joseph Lubin and released in 2015.
Ethereum is the second generation of blockchain after the first Bitcoin blockchain technology. It calls itself the "blockchain app platform" and it is a decentralized software platform designed to create and execute coded smart contracts, which is not possible through the Bitcoin Blockchain. Ethereum also has a cryptocurrency called Ether, which is the underlying token that fuels the Ethereum blockchain network.
Use cases:
- Digital Identity Management
- Replacing Escrow
- Banking & Financial Services Contracts
- Prediction Markets
3. Tron
Tron is a blockchain-based decentralized platform that aims to build a free, global digital content entertainment system with distributed storage technology, and allows easy and cost-effective sharing of digital content. It was founded in September 2017 by a Singapore based non-profit organization called the Tron Foundation.
Tron also has its own cryptocurrency which is called Tronix, but its main purpose is to make it more simple for crypto users and developers to distribute multimedia apps and specialized content among each other. Tron also brings another intresting element to the crypto market – it's designed to use in the gaming and gambling sector, with the aim of creating and growing legitimate blockchain-based casino gambling-type games.
Use cases:
- Decentralized internet technology
- Digital content marketplace for developers and end-users
- Mobile app marketplace
- Cryptocurrency
4. Dagcoin
Dagcoin is a relatively new cryptocurrency with a huge potential. It was founded by Nils Grossberg in 2017. Dagcoin is built on the brand-new DAG-chain technology designed for using, not trading. Dagcoins offer several benefits compared to most of the other cryptocurrencies. Near-zero transaction fees, almost instant transactions, freedom to transact and compliance – all meant to make using the coin as convenient as possible.
Use cases:
- Alternative to regular currency for all occasions possible
5. Ripple
Another very popular currency next to Ethereum and Bitcoin. It was created in 2012 and is one of the best performing currencies today. Ripple is a payment settling, currency exchange and remittance system meant for banks and payment networks. The idea behind it is to provide a system for direct transfer of assets (gold, money, etc) that settles in almost real-time, and is a cheaper, more transparent and secure alternative to all the transfer systems banks are using today, like the SWIFT payment system.
Use cases:
- Cryptocurrency
- Transfer of other currencies
6. R3 with Corda Platform
Chances are that if you have heard about blockchain, you have also heard about the R3 consortium. This is a collaboration of some of the world's biggest financial institutions that are exploring new uses of blockchain and integrating it with the system. R3 was founded by David E. Rutter in 2014. Initially, the company was working with Ripple to provide FinTech solutions using XRP. Nonetheless, it eventually developed Corda, which now aims at providing efficient software solutions to a wide variety of small, medium and large–scale industries which includes healthcare, trade finance, telecommunications, digital identity etc.
Use cases:
- Construction industry
- Health records exchange
- Financial industry
7. LimeChain
LimeChain is a blockchain development company specialized in building a blockchain solution for startups and corporate businesses. Based in Sofia Bulgaria, this company was founded by four friends in November 2017. Their aim is to help their clients adopt the newest technologies to optimize processes, remove bottlenecks, adapt, innovate and lead through Blockchain & DLT solutions.
Use cases:
- Automotive industry
- Manufacturing industry
- Retail industry
- Gambling industry
8. Splinterlands
Splinterland is one of the most popular blockchain games in the world. It's a fully decentralized, digital collectible trading card game built on the Hive blockchain. This game allows players to play, trade, and earn anywhere at any time. Every collectible card is a unique token that has an owner, who stores it as a digital asset in their wallet.
Use cases:
- Gaming
9. Blockstack
Blockstack is an open-source and developer-friendly network for building decentralized apps and smart contracts. The Blockstack platform is helping engineers to build blockchain-based apps that let developers own their own encrypted data without needing a server. Users of this platform can join the company's community and safely discover hundreds of blockchain apps. Blockstack inherits Bitcoin's security through Proof of Transfer, enables users to write secure smart contracts with Clarity language, and brings it all together in one decentralized network maintained by developers from all over the world.
Use cases:
- Writing smart contracts
- Building decentralized apps
10. Ankr
Ankr Network is a cloud-based blockchain infrastructure for business applications. It is the first business to leverage both blockchain and hardware for cloud and data security purposes. The company is planning to develop Proof of Useful Work (PoUW), a self-sustaining blockchain framework which unlocks the potential of idle computers. Users all over the world can be compensated by performing PoUW tasks on their idle computers, which the company says could even lead to a universal basic income.
Use cases:
- Utilizing and monetizing idle cloud resources
Final thoughts
This was our selection of 10 most important blockchain technologies today. As the whole area of blockchain-based businesses is growing rapidly, we are excited to see what's going to happen next and wait for the striking newcomers.
