Difference between various blockchain protocols

Question

As the developers are constantly using different network protocols of blockchain such as Hyperledger, multichain, Ethereum, Corda, and others. The community will appreciate if the developers & blockchain enthusiasts can pour in some key differences between various types of blockchains as mentioned above.

Thanks!

Answer 1

There are different processes various platforms use to achieve consensus. Others use PBFT, SBFT. Some use PAXOS derivative strategies. Hyperledger Sawtooth Lake developed a strategy named proof of elapsed time. Other platforms differ in means by which they implement confidentiality of data. For example Etherium , Corda and Hyperledger

Answer 2

There are several differences between those blockchain projects in relation to the following subheadings:

1. Application: The particular application or space they are focussing on. Some blockchain projects are public essential blockchains, like Ethereum, you can foster your own applications on it fully backed by shrewd agreement. While others might zero in on specific space, for example, amusement, capacity, finance and so on.

2. Consensus Protocol: The different blockchain projects may use different consensus protocols, such as PoW, PoS, DPoS, BFT, DBFT etc. So many consensus protocols were proposed. Although, honestly speaking, for now, only PoW works well for a long time.

3. TPS: It's actually related to the 2nd point, consensus protocol can certainly affect the performance/TPS, however, block design, and technologies like sharding and lightning networks can significantly affect the TPS as well. Specific technologies used to improve scalability can also differentiate those projects.

Smart Contract: The programming languages used to develop a smart contract, whether the contract is secure, and whether the development environment is user friendly, are also the factors that should be considered to differentiate between the blockchain projects.