Blockchain Deep Dive

This page contains developer resources for selected Blockchains. Note that each Blockchain is a world of it’s own with very different token governance rulesets determining the transaction rulesets and crypto economic aspects.

BITCOIN

On 31 October 2008, an anonymous person or a group called Satoshi Nakamoto introduced the idea of Bitcoin. The system is peer-to-peer, and transactions take place between users directly, without an intermediary. These transactions are verified by network nodes and recorded in a public distributed ledger called the blockchain, which uses Bitcoin as its unit of exchange.

Characteristics: consensus mechanism: Proof of Work (PoW); type of blockchain: public blockchain

 

ETHEREUM

Ethereum is an open blockchain platform which lets anyone build and use decentralized applications which run on blockchain technology. It was introduced by Vitalik Buterin in late 2013 and was formally announced on 25th January 2014. Since then Ethereum has been used as a platform for decentralized applications (dApps), decentralized autonomous organizations (DAOs) and smart contracts.

Characteristics: consensus mechanism: PoW (future plans include moving to Proof of Stake(PoS) algorithm); type of blockchain: public blockchain.

 

DASH

Dash (Digital Cash) is a privacy-centric digital currency with instant transactions and integrated governance system. It is based on the Bitcoin software, but it runs a two-tier network which improves upon it. Dash allows you to remain anonymous while you make transactions. Dash is the first cryptocurrency to implement a system of self-funding through the blockchain.

Characteristics: consensus mechanism: PoW; type of blockchain: public blockchain

 

LISK

Lisk is a public blockchain and sidechain application platform which aims to provide developers with the tools to deploy decentralized applications. The idea behind Lisk is that every blockchain app will run on its own sidechain, separated from the main blockchain.

Characteristics: consensus mechanism: delegated proof of stake (DPoS); type of blockchain: public blockchain

 

STEEM

Steemit is powered by the Steem blockchain, an open source, and publicly accessible database, that records all posts and votes, and distributes rewards across the network. Steemit is designed around a relatively straightforward concept: everyone’s meaningful contribution to the community should be recognized for the value it adds. Steemit aims to support social media and online communities by returning much of its value to the people who provide valuable contributions by rewarding them with cryptocurrency.

Characteristics: consensus mechanism: PoW; type of blockchain: public blockchain

 

RIPPLE

Ripple is a real-time gross settlement system (RTGS), currency exchange and remittance network based upon the Ripple Labs version of the blockchain. Ripple’s distributed financial technology allows for financial institutions around the world to directly transact with each other without the need for a central counterparty or correspondent. It works with any currency (dollars, euros, yen, etc.), and it settles transactions, including cross-currency transactions.

Characteristics: consensus mechanism: Ripple Protocol consensus algorithm (RPCA); blockchain type: private blockchain

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