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7.2 - Comparing Blockchains

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27 views4 pages

7.2 - Comparing Blockchains

Uploaded by

MG Mats
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Comparing Blockchains for Smart Contracts

1. Ethereum

• High usage can lead to congestion i.e. slow processing times


• Scalable
• Uses PoW as consensus mechanism → switching to PoS
• Smart contract code is auditable and transparent
• Large developer community and ecosystem

2. Binance Smart Chain

• Low transaction fees


• Uses PoSA (Proof of Stake Authority) as consensus mechanism
• Less decentralized, small number of validators
• Smart contract code is auditable and transparent.
• Compatible with Ethereum tools and dApps
• Supports cross-chain interoperability

3. Polkadot

• High scalability and interoperability between different chains


• Uses PoS consensus mechanism
• Multi-chain architecture can introduce security risks
• Smart contract code is auditable and transparent
• Large developer community and ecosystem

4. Cardano

• High scalability, focuses on energy efficiency


• Uses a PoS consensus mechanism
• Security and privacy → formal verification of smart contract
code
• Large developer community and ecosystem

5. Solana

1
• Low transaction fees
• Uses a PoS consensus mechanism
• Security and privacy → smart contract code running in a secure
enclave
• Rapidly growing developer community and ecosystem

6. Algorand

• High scalability
• Uses a PoS consensus mechanism called Pure Proof of Stake
• Security and privacy → smart contract code running in a sand-
boxed environment
• Growing developer community and ecosystem

7. Tezos

• High scalability
• Uses a PoS consensus mechanism
• Security and privacy → formal verification of smart contract
code
• Growing developer community and ecosystem

8. EOS

• High throughput, low latency, fast transaction confirmation


times
• Uses a PoS consensus mechanism
• Security and privacy → role-based permissions system
• Growing developer community and ecosystem

9. TRON

• Low transaction fees


• Uses a PoS consensus mechanism
• Security and privacy → role-based permissions system
• Growing developer community and ecosystem

10. Stellar

• High scalability, low transaction fees, fast confirmation times


• Uses a federated Byzantine agreement consensus mechanism
• Growing developer community and ecosystem

2
11. Hedera Hashgraph

• High throughput, low latency, fast transaction confirmation


times
• Uses Hashgraph consensus mechanism (Patented)
• Security and privacy → smart contract code running in a sand-
boxed environment
• Growing developer community and ecosystem,

12. Cosmos

• High scalability, interoperability between different chains


• Uses a PoS consensus mechanism
• Security and privacy → smart contract code running in a sand-
boxed environment
• Growing developer community and ecosystem

13. Avalanche

• High throughput, low transaction fees, fast confirmation times


• Security and privacy → role-based permissions system
• Growing developer community and ecosystem

14. Neo

• High scalability, low transaction fees, fast confirmation times.


• Uses a dBFT (Delegated Byzantine Fault Tolerance) consensus
mechanism
• Security and privacy → smart contract code running in a sand-
boxed environment
• Growing developer community and ecosystem

15. Harmony

• High scalability, low transaction fees, fast confirmation times.


• Uses a PoS consensus mechanism.
• Security and privacy → role-based permissions system
• Growing developer community and ecosystem

16. Chainlink

• Decentralized network → allows smart contracts to interact


with off-chain data sources

3
• Security and privacy → multiple layers of security and reputa-
tion systems for node operators
• Growing developer community and ecosystem

17. Waves

• High throughput, low transaction fees, fast confirmation times


• Uses a LPoS (Leased Proof of Stake ) consensus mechanism
• Security and privacy → token issuance and decentralized ex-
change functionality
• Growing developer community and ecosystem

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