KEY BLOCKCHAIN PROTOCOLS YOU NEED TO KNOW

3 min readJul 7, 2022

The use of blockchain technology across all sectors has reached a turning point. Every industry uses blockchain, therefore it’s important to stay on top of the technology’s development and its protocols.

What Is a Blockchain Protocol?

A protocol is a set of instructions that controls how something operates and how it is transmitted between devices. It creates a framework that outlines the guidelines for data transfer and takes into account how the devices respond to the data sent.

Top 5 Enterprise Blockchain Protocols

Hyperledger:

An open-source initiative, {Hyperledger intends to develop a set of tools that businesses may use to rapidly and efficiently install Blockchain technologies. The Hyperledger protocol’s libraries are designed to make the development and production of blockchain solutions quick and effective. Because the Linux Foundation hosts it, it functions well on servers of all sizes of businesses.

Multichain:

Another open-source blockchain platform, MultiChain, provides APIs for blockchain development services, enabling quick deployment and update integration. Multichain is a cross-chain infrastructure that, in comparison to others, connects more open blockchains and digital assets for less money. This open-source technology is also used to create private blockchains with eco-friendly transactions.

Corda:

An open-source project called Corda provides interoperability. It enables businesses to build blockchain networks with excellent privacy. It lowers record-keeping expenses and offers development services including Regulated Tokens, User Interfaces, and Corda App Consulting.

Quorum:

Leading Blockchain protocol Quorum supports businesses in the finance industry. It can be used to create custom tools for the company or third-party applications. The Enclave module, Transaction Manager module, and Quorum Node are all parts of the Quorum architecture.

Ethereum:

The objective of Ethereum Enterprise is to expand the commercial use cases for Blockchain software. The main benefit of Ethereum Enterprise is that it enables companies to develop their own proprietary variations of Ethereum while still utilizing the most recent Ethereum code. Businesses may quickly develop large-scale apps to exchange value using Ethereum.

Conclusion

One of the most important decisions to be made when beginning a Blockchain software development project is the choice of a Blockchain protocol. Jai Infoway's team of experts with experience in blockchain development can work with you to create your blockchain-based project from the ground up with ease.