Ecosystem

Choose the right protocols for your business

What is a Blockchain Protocol?

A blockchain is a distributed ledger that records transactions that happen within its network, but there are different ways to control and operate these ledgers. A protocol is the set of rules that define how the network behaves. Some may choose to be decentralized, rely on a certain hashing algorithm, build their governance upon a consensus mechanism, etc. Each one of them has its own native cryptocurrency.

Cryptum offers you some of the top public and 1 permissioned blockchain protocols.

Check the list of protocols and their main features within the Cryptum ecosystem:

• Bitcoin

• Ethereum

• Celo

• BNB Chain

• Solana

• Stellar

• XRP Ledger

• Cardano

• Hathor

• Avalanche (C-Chain)

• Polygon (Matic)

• Stratus

• Hyperledger Besu

Which blockchain should you choose?

Each blockchain has its own specification and use-cases. If the main feature you’re looking for is the transfer of value through a true and tested network then Bitcoin might be a good fit for you. For a smart-contract platform with widespread adoption, you can choose Ethereum. A focus on mobile-first experience might mean Celo is the way to go. If scalability is important Solana poses itself as a viable option with its thousands of transactions per second throughput.

There is a lot of common ground between the protocols, so many of the features you might find in a certain protocol might also be present in others. For instance: Ethereum, Celo, Binance Smart Chain, Solana, Avalanche (C-Chain), Stratus, Hyperledger Besu all have support for smart contracts. In fact, many of them are cross-compatible since they were built upon the same EVM (Ethereum Virtual Machine) runtime.

Some things to keep in mind when choosing a protocol are transaction fees, smart contract support, market value, adoption, decentralization level, transaction finality time, governance model, eco-friendliness, and sustainability.