What is a blockchain protocol in blockchain terms?
Blockchain protocols: refers to the different types of blockchain platforms available for application development.
Each blockchain protocol adopts basic blockchain principles to suit specific industry or application needs.
Some examples of blockchain protocols are provided below:
Hyperledger Fabric
Hyperledger Fabric is an open source project that includes a set of tools and libraries.
Enterprises can use it to build private blockchain applications quickly and efficiently. It is a modular, general-purpose framework that provides unique identity management and access control capabilities. These capabilities make it ideal for a variety of applications such as supply chain track and trace, trade finance, loyalty and rewards, and clearing and settlement of financial assets.
Ethereum
Ethereum is a decentralized, open-source blockchain platform that people can use to build public blockchain applications. Ethereum Enterprise is designed for enterprise use cases.
Corda
Corda is an open source blockchain project designed for enterprises.
With Corda, you can build interoperable blockchain networks for conducting transactions with strict confidentiality. Businesses can use Corda’s smart contract technology to conduct valuable transactions directly. Most of its users are financial institutions.
Quorum
Quorum is an open source blockchain protocol derived from Ethereum.
The protocol is designed for use in two types of blockchain networks: a private blockchain network, where only one member owns all the nodes; or a consortium blockchain network, which contains multiple members, each owning the network’s part.
