Blockchain technology is one of the most important and influential innovations of the 21st century, which has the potential to transform various aspects of our society and economy. Blockchain platforms are tools and infrastructures that enable the use and development of blockchain technology, for various purposes and goals. However, there is no single perfect blockchain platform that can satisfy all user needs and requirements. That is why it is important to know how to choose the right blockchain platform for your project, business or investment, based on various criteria and factors.

In this post, we will present and compare the top 4 blockchain platforms, according to professional opinion and based on various criteria such as:

• Overview of  four top blockchains

• How to choose a blockchain platform

• Advantages for investing

• The importance of blockchain platforms

• How popular is blockchain

• Best speed top 4 blockchain…

The top 4 blockchain platforms are:

• Ethereum

• Arbitrum

• Solana

• Polkadot

Blockchain platforms are tools and infrastructures that enable the use and development of blockchain technology, for various purposes and goals. Blockchain platforms differ in many aspects, such as speed, security, scalability, interoperability, flexibility, simplicity, etc. In this section, we will give you a brief overview of each of the top 4 blockchain platforms that we have selected

Ethereum

Ethereum is the best known and most used blockchain platform, which enables the creation of smart contracts and decentralized applications (dApp). Ethereum was launched in 2015.

Ethereum works using several elements (smart contracts, EMV machine, and Proof-of-Stake consensus mechanism.

Ethereum has attracted many developers and users, who want to take advantage of its universality and flexibility. Ethereum supports a variety of dApps, dealing with different industries and sectors, such as DeFi, NFT, gaming, and more. Ethereum has a market cap of around $400 billion.

Solana

Solana is one of the fastest and cheapest blockchain platforms, which enables the creation of high-performance and low-latency dApps, which require high bandwidth and scalability. Solana was launched in 2020 and uses Proof of History (PoH) as a consensus mechanism, which uses a cryptographic timestamp of each transaction, which enables parallel processing and greater scalability. Solana has an average speed of 50,000 TPS and an average fee of $0.00025 per transaction. Solana has attracted many developers and users, who want to take advantage of its advantages in terms of performance and price. Solana supports various dApps, which mainly deal with DeFi, NFT, games, etc. Solana has a market capitalization of around $50 billion.

Polkadot

Polkadot is an innovative blockchain platform, which was launched in 2020 and which enables different and specialized blockchain networks, which can communicate with each other and exchange data and values. Polkadot has a unique architecture and technology, consisting of a central network, called Relay Chain, and multiple parallel networks, called Parachains. Each Parachain has its own logic, rules and features, which enables the development of customized and flexible blockchain solutions. Polkadot is also pursuing plans to increase its interoperability and integration with other blockchain platforms, such as Ethereum and others. Polkadot has an average speed of 1000 TPS and an average fee of $0.1 per transaction. Polkadot has attracted many developers and users, who want to take advantage of its modularity and extensibility. Polkadot supports a variety of dApps, dealing with different industries and sectors, such as DeFi, NFT, gaming, and more. Polkadot has a market capitalization of about $40 billion.

Arbitrum

Arbitrum Network is a Layer 2 Ethereum scaling solution, enabling faster, cheaper and more secure transactions, while maintaining compatibility with Ethereum. The Arbitrum Network was launched in 2021 and uses optimistic rollups as a consensus mechanism, which reduces the need for intensive computation to confirm each transaction, which increases speed and lowers transaction costs. Arbitrum Network has an average speed of 1000 TPS and an average fee of $0.01 per transaction. Arbitrum Network has attracted many developers and users, who want to take advantage of its simplicity and security. Arbitrum Network supports various dApps, which deal with different industries and sectors, such as DeFi, NFT, games and others. Arbitrum Network has a market capitalization of about $10 billion.

How to choose a blockchain platform

When choosing a blockchain platform for your project, business or investment, you should consider various criteria and factors related to your needs, goals and preferences. Some of those criteria and factors are:

• Type of project: Depending on what type of project you want to start or support on the blockchain, you should choose a platform that offers you the appropriate capabilities and tools. For example, if you want to create a decentralized application (dApp) that requires high speed, scalability and low transaction cost, you might want to consider platforms like Arbitrum Network. If you want to create a smart contract that requires high security, compatibility and flexibility, you might want to consider platforms like Ethereum or Polkadot.

• Community size and diversity: Blockchain platforms rely on their communities of developers, users, investors and partners, who contribute to their development, growth and innovation. It’s important to choose a platform that has a large and diverse community that can provide you with support, feedback, resources and opportunities. For example, if you want to access a rich and diverse ecosystem of dApps, which address different industries and sectors, you might want to consider platforms like Ethereum or Polkadot. If you want to tap into a fast-growing and enthusiastic community of high-performance dApps, you might want to consider platforms like Arbitrum Network.

• Ease of integration: Blockchain platforms differ in how easy and fast it is to integrate them with existing or new projects, businesses or investments. It is important to choose a platform that offers you easy and efficient ways to connect, switch, migrate or communicate with other blockchain platforms, applications, services or protocols. For example, if you want to take advantage of Ethereum but without its limitations and drawbacks, you might want to consider platforms like Arbitrum Network or Polkadot, which allow you to remain compatible with Ethereum, but with better performance and lower costs.

• Interoperability: Interoperability is the ability of different blockchain networks to communicate with each other and exchange data and values, without the need for intermediaries, bridges or adapters. Interoperability allows users to access different blockchain services and applications, without limitations, barriers or loss of efficiency. Polkadot is one of the most innovative and advanced platforms for interoperability, which supports more than 100 Parachains, which can communicate with each other and exchange data and values, as well as with other blockchain platforms, and apart from Polkadot, I would also single out the Arbitrum network as a very promising network.

• Adaptability: Adaptability is the ability of the blockchain network to adapt to the different needs and requirements of users and developers, without the need to change the entire network.

• Availability and quality of documentation, tutorials, code examples and other resources that can facilitate your learning and use of the blockchain platform. If you are a beginner or have limited technical knowledge, then you should choose a platform that has good and accessible documentation, such as Ethereum. If you are an experienced developer or have a high level of technical knowledge, then you should choose a platform that has advanced and detailed documentation, such as Polkadot.

• Compatibility with other blockchain platforms, protocols and tools, which can expand the possibilities and functionality of your project, business or investment. If you want to use existing and proven blockchain solutions, then you should choose a platform that is compatible with the largest and most popular blockchain networks, such as Ethereum. If you want to create new innovative blockchain solutions, perhaps you should choose Polkadot, and we have mentioned some of the advantages above in the text.

Types of blockchain and consensus mechanisms

Blockchain platforms can be classified according to various criteria, such as type, generation, architecture, etc. One of the most important criteria is the type of blockchain, which refers to how open, decentralized and secure the blockchain is. There are three main types of blockchains:

• Public blockchain: A public blockchain is a blockchain that is open and accessible to everyone, without the need for permission or registration. A public blockchain is decentralized and transparent, meaning there is no central authority or intermediary controlling the network, and all transactions and data are visible to everyone. A public blockchain is secure and attack-resistant, meaning that transaction history cannot be altered or falsified, and requires the consensus of a majority of nodes to validate each transaction. A public blockchain is best suited for projects that require a high level of transparency, participation and democratization. Examples of public blockchains are Ethereum, Solana and Polkadot.

• Private blockchain: A private blockchain is a blockchain that is closed and accessible only to certain entities, which have permission or registration. A private blockchain is centralized and confidential, meaning that there is a central authority or intermediary that controls the network, and transactions and data are hidden from the public. A private blockchain is fast and cheap, which means that not a lot of resources and energy are used to confirm transactions, and transaction fees are low or non-existent. Private blockchain is best suited for projects that require a high level of efficiency, security and privacy. Examples of private blockchains are Hyperledger, Corda and Quorum.

• Consortium blockchain: Consortium blockchain is a blockchain that is partially open and accessible to certain entities, which have permission or registration. A blockchain consortium is partially decentralized and partially transparent, meaning that there are multiple authorities or intermediaries that control the network, and that transactions and data are partially visible to the public. A blockchain consortium is balanced and adaptive, meaning that it can be adapted to the different needs and requirements of entities, and consensus can be reached between entities. A blockchain consortium is best suited for projects that require a high level of collaboration, regulation and standardization. Examples of blockchain consortia are Binance Smart Chain, Stellar and Ripple.

Another important criterion is the consensus mechanism, which refers to how an agreement is reached between nodes in the network to validate each transaction and maintain the security and integrity of the network. There are different consensus mechanisms, which differ in how fast, secure, decentralized and efficient they are. Some of the most well-known consensus mechanisms are:

• Proof of Work (PoW): PoW is a consensus mechanism that requires nodes to solve complex mathematical puzzles, to prove that they have invested work and resources, to confirm a transaction and receive a reward. PoW is secure and decentralized, meaning that the network cannot be attacked or manipulated, and there is no central authority or intermediary controlling the network. However, PoW is slow and expensive, which means that a lot of time and energy is spent on confirming transactions, and transaction fees are high. An example of a blockchain platform that uses PoW is Ethereum.

• Proof of Stake (PoS): PoS is a consensus mechanism that requires nodes to stake a portion of their tokens, in order to be eligible to confirm a transaction and receive a reward. PoS is fast and cheap, which means that not much time and energy is spent on confirming transactions, and transaction fees are low.

• Proof of History (PoH): PoH is a consensus mechanism that requires nodes to generate a cryptographic timestamp for each transaction, which proves when and in what order the transaction occurred. PoH is the fastest and cheapest consensus mechanism, meaning that very little time and energy is spent confirming transactions, and transaction fees are negligible. However, PoH is less secure and decentralized, meaning that the network can be attacked or manipulated, and there is a greater dependence on hardware and resources. An example of a blockchain platform that uses PoH is Solana.

• Optimistic rollup: Optimistic rollup is a consensus mechanism that requires nodes to group multiple transactions into a single packet, which is confirmed on the main network, without the need for intensive computation to confirm each transaction. Optimistic rollup is fast and cheap, meaning very little time and energy is spent confirming transactions, and transaction fees are low. However, the optimistic rollup is also less secure and transparent, which means that the network can also be challenged or spoofed, and that there is greater latency and complexity in the network. An example of a blockchain platform that uses optimistic rollup is Arbitrum Network.

Highlighting the aforementioned and the advantages for investing in each of these top 4 blockchain platforms

Blockchain platforms are not only tools and infrastructures for the use and development of blockchain technology, but also attractive investment opportunities in the crypto space. Blockchain platforms have their own native tokens, which represent value and stake in the network, and which can be bought, sold, traded and used for various purposes and services. Each of these top 4 blockchain platforms has its own advantages for investing, which you should consider before making your decision. Some of these advantages are:

• Ethereum: Ethereum is the largest and most mature blockchain platform, which has the largest and most developed community, ecosystem and market. Ethereum is the most liquid and stable blockchain token that has the largest market cap Ethereum is also the most compatible and integrated blockchain token , which can be connected and exchanged with other blockchain platforms, applications, services and protocols. Ethereum is best suited for investors looking for a long-term and safe investment, which has great potential for growth and innovation.

• Solana: Solana is the fastest and cheapest blockchain platform, which has the highest bandwidth and scalability. Solana hosts a rapidly growing ecosystem and marketplace, mainly dealing with high-performance and low-latency dApps, which require high speed, scalability and low transaction cost. Solana is also in the process of increasing its interoperability and integration with other blockchain platforms, such as Ethereum, Binance Smart Chain, and others. Solana is among the fastest and cheapest blockchain tokens, which has a high speed of 50,000 TPS and very low fees of $0.00025 per transaction. Solana is also one of the most innovative and experimental blockchain tokens, which uses Proof of History (PoH) as a consensus mechanism, which is unique and revolutionary. Solana is most suitable for investors who are looking for a short-term and risky investment, which has a high potential for quick and high returns.

• Polkadot: Polkadot is an innovative blockchain platform, which enables different and specialized blockchain networks, which can communicate with each other and exchange data and values. Polkadot hosts the most innovative and advanced ecosystem and marketplace, dealing with different and customized blockchain solutions, which can be adapted to different needs and requirements of users and developers. Polkadot is also in the process of increasing its modularity and extensibility, which allows the creation and maintenance of Parachains, which are parallel and independent blockchain networks, which can be upgraded and optimized. Polkadot is the most balanced and adaptable blockchain token, which has the most flexibility and interoperability. Polkadot is also the most complex and expensive blockchain token, requiring a high level of technical knowledge and resources, as well as competing for limited slots for Parachains. Polkadot is best suited for investors looking for medium-term and moderate investment, which has great potential for collaboration and standardization.

• Arbitrum Network: Arbitrum Network is a layer 2 Ethereum scaling solution, enabling faster, cheaper and more secure transactions, while maintaining compatibility with Ethereum. Arbitrum Network hosts the fastest growing and most promising ecosystem and marketplace, dealing with different types of smart contracts and dApps, which can be adapted to different industries and sectors, such as DeFi, NFT, gaming, etc. Arbitrum Network is also in the process of increasing its simplicity and security, which allows easy and efficient migration and integration with Ethereum, without the need to change code or logic. Arbitrum Network is the simplest and most secure blockchain token, which has the highest compatibility and trust. The Arbitrum Network is also still under development. Arbitrum Network is most suitable for investors who may be looking for a risky investment and perhaps at the same time a longer-term investment, which has great potential for efficiency and reliability.

Each of these platforms has its pros and cons, which you should consider before making your decision. We hope that this post was useful and informative for you, and that you learned something new about blockchain technology and platforms, and for additional detailed clarifications, feel free to contact MirbInvestments.