The past few years have seen new and exciting technologies that promise a more decentralized and secure economy. In this article, I have included some of the key players in this developing market.
Golem is an open-source, decentralized computer network.
How the Golem Works
The Golem Network is a market for computing power, where users can earn money by ‘renting’ their machines or by creating and selling software.
Within the network, computing power rental users are called “suppliers” and power acquiring users are called “requesters”. Applicants use Golem for a variety of purposes, including graphics processing, data analysis, microservices, and machine learning.
The work division means that tasks can be completed simultaneously, thus enabling shorter deadlines for projects.
The cost of doing business is lower than cloud-based services.
Users can instantly be paid for their work with a token Golem Network Token (GTM) in the Etherium blockchain.
Golem is building their whole stack from bottom to top, a method that usually comes in great UXs.
Aixex is a decentralized market for blockchain-based delivery applications and affordable, high-performance computing-focused cloud services.
Unlike Golem, Aixex (after the release of V1) allows anyone to develop and run applications.
There are a variety of apps in the IXX DAP store. Considering the experienced team behind Ajax, their reason for choosing the dop path is probably because there is less competition here. After establishing itself in the decentralized DAP market, IXX plans to expand into decentralized computing operations.
RLC stands for ‘Run on Lots of Computers’ and is a native token of Ixex. The current ERC-20 has 87 million tokens.
Etherium is an open source, blockchain-based platform that enables users to create decentralized applications. The calculations are performed in an isolated environment called the Ethereum Virtual Machine, which is located on all nodes connected to the network. The product of the calculations is stored in the blockchain.
Characteristics of Ethereum Blockchain
Ether is the currency of the Etherium blockchain. Cryptocurrencies ETH (Etherium Hard Fork) and ETC (Etherium Classic) are two values of Ether.
EVM is capable of executing a “smart communication”, an algorithm that saves the terms of the contract and executes it automatically. Both parties to a transaction agree to the terms of the Smart Agreement.
Bitcoin vs. Ethereum platform
The Bitcoin blockchain focuses on a set of pre-defined activities such as tracking bitcoin transactions, while Ethereum allows users to run code of any complexity, making it suitable for any decentralized application, including cryptocurrencies.
Sens reduction mechanism
Computing on an Etherium network costs more and takes longer than a standard computer due to the parallelism of computing. In order to maintain a sense of urgency, all participants must agree on the order in which the transaction took place, whether or not they participated in the transaction.
Ethereum nodes store the most recent status of each smart contract along with ether transactions. EVM As an isolated system, the code runs without access to a network or file system. Thus, smart contracts also have limited accessibility.
4. Hyperlder fabric
Hosted by the Linux Foundation, HyperLeader Fabric is an open source Distributed Laser Technology (DLT) module and configurable architecture that can be deployed at the enterprise level in a variety of industries.
Features of Hyperlder Fabric
Privacy, development and performance
The fabric platform enables authorized, private operations where operators know each other and can be bound by rules such as legal contracts.
Fabric supports smart contracts written in common languages like Java and Go, so no additional training is required to create smart contracts.
Performance has been increased because, unlike Ethereum, only the parties involved in the transaction have to reach the sens reduction.
Also unlike etherium, fabric nodes have different roles and functions in the sensory reduction process. Nodes can be orders, clients or peers.
Fabric does not have native cryptocurrency. However the chaincode can be used to develop a local currency.
Tendermint has a blockchain compliant engine, known as the tendermind core, and a generic application interface, known as the application blockchain interface (ABCI). The software enables secure and continuous copying of an application on multiple machines.
The Byzantine Fault Tolerant (BFT) midwear of the Sens minimal engine can safely replicate the state transfer device. BFT can tolerate one-third of failures, including middleware hacking attacks.
Tendermint aimed to provide a more secure and efficient sens reduction algorithm than Bitcoin’s WW (Proof of Work). The software compliant protocol formed the basis of important research by Casper’s team: an error-tolerant discipline such as Tendermint can make good decisions about who makes the block, but a less reliable chain results in chicken and egg problems.
The software is user-friendly, replicates applications written in any language and has multiple applications.
Lisk is a decentralized and distributed platform that can help users develop applications and assist them with customized blockchains.
Lisk’s sensory reduction mechanism
Lisk asks developers to follow the “rules” for the contract to ensure sensibility. For example, they tell developers to “don’t use math.random ().”
7. Corda (v 3.0)
Corda provides an open source, leader distribution platform (DLT) to the financial industry.
Corder Network is an authorized network – it is not open to all node operators. The nodes are driven into corda and codaps and communicate with each other point-to-point.
The ‘Dorman’ of each network sets access rules for nodes that want to join the network. Like Fabric, Corda provides better privacy by controlling its fine access to records and limiting sens minimization to the parties involved.
In Korda, contract developers also add legal prose to their contracts. This feature integrates the contract with the validity of the relevant legal prose. The platform does not have a native token.
Rootstock (RSK) is an open source smart-contract platform built on the Bitcoin blockchain.
RSK is enabling smart deals on the bitcoin network. It uses the Turing-Complete Rootstock Virtual Machine (RVM) for smart contracts. A 2-way peg allows users to send Bitcoin directly to the rootstock chain. RSK coins can be used with smart contracts and DAPs. RSK contracts transcribe ‘proof-of-existence’, which is used to prove the existence of a document (or property rights).
The RSK blockchain has merged-mining, giving it the same level of protection as Bitcoin in terms of settlement finality and double spending.
RSK is a seed chain of bitcoin. Bitcoins in the rootstock blockchain are called SBTCs.
RSK is filling the void in the bitcoin network by enabling faster transactions. As well as being convenient for users, it also helps limit bitcoin block sizes.