Platforms for decentralization

There are many platforms available for decentralization now. Many companies around the world have introduced platforms that promise to make distributed application development easy, accessible, and secure for users. Some prominent names are discussed here.

Ethereum

Ethereum tops the list as being the first blockchain that introduced a Turing-complete language and the concept of a virtual machine. This is in contrast to the limited scripting language in bitcoin and many other cryptocurrencies. With the availability of this Turing-complete language called Solidity, endless possibilities have opened for the development of decentralized applications. This was proposed in 2013 by Vitalik Buterin and provides a public blockchain to develop smart contracts and decentralized applications. Currency tokens on Ethereum are called Ethers.

Maidsafe

Maidsafe provides a SAFE (Secure Access for Everyone) network that is made up of unused computing resources, such as storage, processing power, and the data connections of its users. The files on the network are pided into small chunks of data that are encrypted and distributed throughout the network randomly. This data can only be retrieved by its respective owner. One key innovation is that duplicate files are automatically rejected on the network, which helps reduce the need for additional computing resources to manage the load. It uses Safecoin as a token to incentivize its contributors.

Lisk

Lisk is a blockchain application development and cryptocurrency platform. It allows developers to use JavaScript to build decentralized applications and host them in their own respective sidechains. Lisk uses the Delegated Proof of Stake (DPOS) mechanism for consensus whereby 101 nodes can be elected to secure the network and propose blocks. It uses the Node.js and JavaScript backend whereas the frontend allows the use of standard technologies, such as CSS3, HTML5, and JavaScript. Lisk uses LSK coin as a currency on the blockchain. Another derivative of Lisk is Rise, which is a Lisk-based decentralized application and digital currency platform. It has more focus on the security of the system.

A more practical introduction to these platforms and others will be supplied in later chapters.