With the crypto space now allowing users to build their own cryptocurrencies, it may just be the best time for you to consider building yours. You can decide to own your own cryptocurrency, rather than being only a crypto trader or investor. As an aspiring crypto developer, not all blockchains are a suitable foundation for building your crypto. Hence, you must consider the underlying blockchain on which you plan to build your crypto. Read on to get ideas on the top 10 blockchain networks for building your crypto.
What are blockchain networks?
Essentially, blockchain networks are decentralized databases that are shared across a solid network of different computers. Think of it as a giant, shared record that everybody on the network is allowed to see and update, but cannot tamper with it.
This network is founded on blockchain technology, which is a distributed ledger that links a decentralized network on which all users can execute transactions and develop applications. The cryptocurrency and decentralized finance (DeFi) industries are possible due to the decentralized (without any central authority) nature of blockchain networks.
A standard and well-functioning public blockchain needs a community of devoted users, developers, node operators, and miners, who all play roles in a mutually beneficial network ecosystem.
How do I choose which blockchain to build on?
You must choose your blockchain network very carefully, as it can determine how your crypto project will eventually end up. Hence, you should choose based on relevant factors, such as security, scalability, as well as energy efficiency. Also, you should consider the ready expertise and community support that are available for the blockchain.
Top 10 blockchain networks for building your crypto
Here is a list of the top 10 blockchain networks for building your crypto in no particular order:
1. Ethereum (ETH)
When building decentralized applications (dApps), the Ethereum network remains on top of the game. Its smart contract capabilities, vast developer community, and powerful ecosystem make the Ethereum network one of the top 10 blockchain networks for building your crypto. With the Ethereum community recently shifting from a proof of work (PoW) consensus mechanism to a more energy-friendly mechanism, known as proof of stake (PoS), this network is expected to become more widely accepted globally.
2. Solana (SOL)
Over the last few years, many crypto enthusiasts have become interested in the Solana network due to its fast m throughput and low transactions. Also, its eco-friendly Proof of History consensus mechanism is generally more eco-friendly and energy efficient than traditional mechanism. Solana is excellent for DeFT and NFT projects because of its focus on scalability and high compatibility with Ethereum’s Solidity language.
3. Cardano (ADA)
Cardano’s decision to employ peer-reviewed code and take on a scientific philosophy guarantees its code quality and a structured architecture set out to figure out the blockchain problem of security, scalability, as well as decentralization. With this network’s major emphasis being on security, sustainability, and scalability, users can have a very reliable and powerful platform for creating their own. unique cryptocurrencies.
4. Binance Smart Chain (BSC)
Developed by the Binance exchange, the BSC network has two major strengths. It combines high-speed transactions with lower fees and this makes it a very attractive option for people aiming for efficient crypto development. Also, Binance guarantees the stability and development of the platform, which assures users of its reliability.
5. Polkadot (DOT)
Polkadot is known for being a multi-chain network, facilitating interoperability between different kinds of blockchains. Basically, the unique parachain structure of this network entitles developers to create specialized crypto tokens with ease.
Also, Polkadot handles the validating of transactions and network security. Usually, transactions are processed and completed on the network’s relay chain. Hence, developers wouldn’t have to go through the stress of building a safe system for validating transactions, while their blockchain project is still ongoing.
6. Avalanche (AVAX)
The Avalanche network also has exciting features that can greatly benefit developers seeking to build their own crypto. Its sub-second transaction finality and high throughput capacities are very attractive features for crypto projects that need fast settlement times. Also, Avalanche can support many blockchain projects, which is an added advantage for people seeking to build cryptos with the network.
7. Arbitrum Network (ARB)
The Arbitrum network is a layer 2 scaling blockchain solution that was built on Ethereum, seeking to reduce transaction costs and improve the network’s throughput. Bascially, ARB facilitates fast and very efficient smart contract execution, which makes it a very attractive choice for crypto projects that need seamless user experiences
8. Algorand (ALGO)
Algorand uses a proof-of-stake consensus mechanism which guarantees high security and decentralization. Hence, the network is very suitable for a variety of crypto projects. Also, this network provides a range of high-performance layer 1 blockchains. These blockchains offer scalability, security, privacy as well as transaction finality.
9. Base Protocol (BASE)
Base Protocol offers a unique approach to building cryptocurrencies by establishing their value based on real-world assets, such as commodities or indices. This creative blockchain concept offers stability and is likely to attract crypto investors seeking a more dependable form of digital asset.
10. Cosmos (ATOM)
The focus of the Cosmos network is majorly on interoperability and modular architecture. This makes this network an outstanding choice for you to build interconnected crypto ecosystems. Also, with Cosmos, blockchain applications can scale to millions of users using both vertical and horizontal scalability solutions.
Which blockchain is the best to build on?
The best blockchain to build on primarily depends on the requirements of the crypto project that you intend to build. Since all networks have both advantages and drawbacks, you should choose a network with strengths and meets the demands of your project.
Which blockchain network is the fastest?
The speed, efficiency, and scalability of a blockchain have become pivotal factors for users as the crypto industry continues to thrive. Here is a list of some of the fastest blockchain networks currently in existence:
- Coreum at 7,000 TPS
- Solana at over 4,000 TPS
- Aleph Zero at 100,000 TPS.
Ultimately, the success of your cryptocurrency project largely depends on the blockchain network upon which you established it. Each network highlighted on this list of the top 10 blockchain networks for building your crypto offers unique features, strengths, and weaknesses. Also, they have different development requirements and use cases. So the network to settle for should have the features that complement your intended crypto project. Ensure that you do thorough research about these networks to know the most suitable one for your project.
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