10 Best Blockchain Platforms in 2024

Blockchain has been revolutionizing the digital space in recent years because of its decentralized nature. Apart from that its potential in security, transparency, and traceability makes everyone's preference, blockchain has become the backbone of many industries, from finance to supply chain management. Even though so many blockchain platforms are available, choosing the right blockchain network for your project can be confusing. Here get through this blog and you may end up with the right one, we have listed the 10 best blockchain platforms in 2024.

Ethereum

Ethereum network's launch in 2015 from then it has seen significant growth in the digital space and has remained more popular among blockchain enthusiasts. Ethereum launch has opened the opportunity for decentralized applications, smart contracts, and more. It is known for its flexibility and scalability, also Ethereum allows developers to build new-age solutions for various applications, from DeFi to NFTs and more.

Why Ethereum?

Huge Community

Extensive support for dApps & smart contracts

Advanced upgrades, scalability, and speed

Binance Smart Chain

BSC commonly known as Binance Smart Chain is popular for its low transaction fee and speed. BSC is EVM compatible which makes it easy for developers and as well as users to migrate projects between two blockchain networks. Also, this helps the developers to advance cross-chain applications for the start of new beginnings. BSC has become a popular network among blockchain enthusiasts for many DeFi and NFT projects due to its user-friendly environment.

Why Choose BSC?

Low transaction costs

High-speed transactions

Strong support for DeFi applications

Solana

Solana is a high-performing blockchain network launched in March 2020 popularly known for its speed and lower gas fee. Solana is designed to handle thousands of transactions per second which makes the entrepreneurs choose to consider it for building high-performing applications. Solana focuses on performance the most which makes it a favorite for entrepreneurs working on real-time data processing.

Why Solana?

Fast transaction speeds

Low fees, suitable for micro-transactions

A strong ecosystem with growing dApps

Polygon 

Polygon blockchain network which was known as Matic during the previous days was launched in the year 2017 as a layer 2 scaling solution of Ethereum network. It uses a proof of stake mechanism for processing transactions and other applications. Polygon comes up with multi-chain support which becomes an essential part among the developers in improving scalability without compromising the security.

Why Polygon?

Seamless Ethereum integration

High scalability

Cost Efficient

Cardano

Cardano is an open-source and decentralized network that started its development in 2015 and launched in the year 2017 which works on proof of stake consensus. It is built for better security and sustainability and is designed to provide a balanced, secured, and scalable ecosystem. The blockchain was built as a 3rd generation blockchain network after Bitcoin and Ethereum it becomes the third where it allows applications to be built over it.

Why Cardano?

Security

Energy-efficient

Sustainability

Avalanche

Avalanche network was launched in the year 2020 which allows the developers to build decentralized applications and enterprise blockchain services. Avalanche allows you to build up custom blockchains called Subnets which operate with the help of an existing validator. It aims to provide a highly scalable and interoperable solution, apart from this its customization features attract entrepreneurs to opt out of Avalanche.

Why Avalanche?

Customizable

High Scalability

Compatibility with Ethereum dApps

Tezos

Tezos was launched in 2018 which is one of the popular multi-purpose blockchain networks and the network works on a proof of stake mechanism known for its on-chain governance and energy efficiency. It’s designed to evolve and improve over time without the need for any additional needs. It focuses on adaptability, ensuring long-term sustainability, and minimizing disruptions.

Why Tezos?

Self-amending & upgradable protocol

Energy-efficient

Strong governance model

Polkadot

Polkadot was launched in May 2020 with the launch of the genesis block. Polkadot is designed to connect with other blockchain networks allowing the transfer of value and data across previously incompatible networks like Bitcoin, Ethereum, and more. It comes up with the parallel chain concept where the main blockchain is called the "relay chain" and the parallel chain is called para chains. The chain works with a governance model and validators play a major role in deciding the upgrades.

Why Polkadot?

High interoperability

Scalable

Customizable para chains

Algorand

Algorand is an open-source decentralized protocol founded by Silvio Micali in 2017 and launched in 2019 which uses a proof of stake mechanism. It allows users to create smart contracts and tokens which attracts investors and entrepreneurs to build their decentralized applications. It supports a wide range of applications, including DeFi, NFTs, and more.

Why Algorand?

Fast transactions

High security

Environmentally friendly

Hyperledger Fabric

Hyperledger Fabric blockchain platform was launched in 2020 and is completely developed with a focus on enterprise solutions. It’s familiar among the developers for its modular architecture that lets the developers customize their blockchain network to fit their specific needs. Hyperledger Fabric offers robust security features and privacy control making it a top choice for organizations handling sensitive data.

Why Hyperledger Fabric?

Highly customizable

Supports private transactions

Strong support from the Linux Foundation

End Note

Opting out the right blockchain platform for your business solutions requires a lot of work. Each network has its pros and cons so before getting into development, figuring out the requirements and choosing the right network as per the requirements and future goals results in a better way of developing and launching the right blockchain-based solution for your business.

Maticz is a leading blockchain development company that offers various blockchain development services to its clients all over the globe. With a wide range of expertise in blockchain technology, we work on various enterprise solutions for different industries. Our professionals have successfully developed and launched over 200+ digital solutions in the past three years. If you are looking for the best team to develop your blockchain solution then you may get in touch with the experts.