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Most Popular Smart Contracts
If Blockchain is the biggest revolution that the world is talking about, then smart
contracts are the key contributors to the same. These are the new world of the
digital revolution, which are bringing with them a completely new way of
executing agreements. Smart contracts are revolutionary tools.
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These are pre-programmed digital contracts run on Blockchain platforms. They
are known to have pre-decided terms and conditions, and the execution takes
place once the conditions are met. Since there is no third-party involvement, they
save a lot of money and time. These have the power to improve the existing
solution without any threat to the legal system.
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There are a number of smart contracts that are currently working, but here
we will be highlighting five popular ones.
Best 5 Smart Contract Platforms:
1. Ethereum — It is an open-source platform that is not only a cryptocurrency
but also offers a platform for decentralized application development of dApps. It is
the world’s leading smart contract platform and is the best choice for many
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The platform first surfaced in the year 2015, and since then, there has been no
looking back. It facilitates smart contracts and ICOs. It has clear and defining
protocols and rules, which makes its use easier for developers.
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· It has its own programming language or Solidity
· Clear standards for developers
· Lots of supporting literature
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Drawbacks :
· Overloaded network
· Expensive than other platforms
· Security issues with Ethereum code
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Hyperledger Fabric-
Another entrant to our list of popular smart contracts is the Hyperledger
fabric. The project was started by Linux Foundation in the year 2016. It was
developed to provide enterprise solutions to businesses looking for a safe
Blockchain platform for transactions. It supports the development of
Blockchain-based distributed ledgers.
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Key Features:
· Open-source
· Free to use
· Permissioned Blockchain
. Supported by IBM
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· Coding of contracts in different languages
· Reliable
· Supports plug-in components
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Drawbacks :
· No token system
Nem- Founded on March 31st, 2015, this is written in Java
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Key features:
· Easy to use
. No platform-specific programming language requirement
· Excellent performance
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Drawbacks :
· Smaller development community
· Lesser tools available
· It uses code off the Blockchain thus making it decentralized
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Stellar- This is one of the oldest smart contract platforms that was founded in
the year 2014. It is governed by the Stellar Development Foundation.
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Key features:
· Best for ICOs
· Inexpensive
· Good performance
· Accepted by the industry 16
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Drawbacks :
· Not suitable for complex smart contracts
Wave- Wave was launched in 2016. It is an open source platform that aims to
address the barriers that are present in the mainstream blockchain
implementation like speed and scalability.
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Key Features
· Good for ICOs
· Requires little knowledge to create tokens
· Overcomes the barriers of speed and scalability that are present in the
conventional Blockchain system
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Disadvantages
· Not one of the versatile platforms
These are some of the many smart contract platforms that are there in
operations. Smart contracts are going to be the future,
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And if you too are willing to make a career in the same, then you must know
about smart contracts development. For more information on this, you must
join the Blockchain certification course offered by Blockchain Council.
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Blockchain Council Certifications
You can check out our certifications, and kick start your career in the Blockchain
space today.
● Certified Blockchain Expert
● Certified Blockchain Developer
● Certified Smart Contract Developer
● Certified Solidity Developer
● Certified Ethereum Developer
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