Top 6 Leading Blockchain Companies
Most of us known about Bitcoins. We know that it is an online cryptocurrency that is currently at the top, but not many people know about Blockchain. Blockchain is the actual thing that makes Bitcoins work. Behind every cryptocurrency, there is a certain set of codes and software that make it accessible and usable. In the case of Bitcoins, Blockchain is the reason for proper functionality and maintenance.
Working of Blockchain
Blockchain, as the name suggests, store data in the form of blocks. These blocks of data are joined together in the blockchain network to make a chain, and the progressive storage of data turns these single blocks into long chains that are interconnected block by block. These chains of data can be stored anywhere, either a public or a private server depending on the type of data stored in the Blockchain.
It has been eleven years since the launch of Bitcoins to this day, and by taking some time to analyze the popularity and success of Bitcoins, we can get an idea of the effectiveness of Blockchain. Bitcoins was the first application of Blockchain on the internet that led to success. There is a simple term known as Distributed Consensus. In other words, this means that more than one companies verify a set of data on their own and then store it. The stored data, if proven correct and verified from a good source, will be the same for both parties. Thus these parties can verify the data by comparing them with each other and also help it verification for other parties. The most complex and sophisticated network related to Distributed Consensus is owned by Bitcoins.
Let us dive into the top companies that are leading in Blockchain.
This company is counted in one of the leading giants in the Blockchain network. Aside from being a top Blockchain company Consensys also functions as a kick-starter that want to take part in the Blockchain network. It takes advantage of shared IT to ensure the safety of private user data. Consensys is primarily an Ethereum that is currently working on Web3 usage and application over the internet.
This is a well-expanded open source company that works under the administration of The Linux Foundation. This company is focused on the issues that an enterprise faces while dealing with the Blockchain and provides solutions for such problems. There are more than a few projects that are currently going on in this organization. One such project is the IBM Food Trust Protocol. This ensures the proper tracking of food chains and maintains proper visibility in such chains.
This is a combination of two separate companies that align together to be one of the biggest Blockchain partners. R3 is known for the development and research in the field of blockchain application by Corda. Corda acts as a commercially available prospect that equips its users, particularly large enterprises, with software solutions regarding Blockchain.
This firm is based in China and is an affiliate of Alibaba. You will be amazed to know that Alibaba has the largest number of patents for Blockchain tech that are recorded for a single organization. Ant Financial is planned to initiate an Ant Blockchain Open Alliance to help small and medium scale businesses.
Whenever you hear about XRP, the first thing that comes to mind is Ripple. It is a very famous fintech that is currently offering Blockchain solutions to more than 300 institutions and organizations and is helping the financial institution in maintaining a streamlined flow of money. Ripple is slowly overcoming the Swift-based payments due to its fast and reliable Blockchain-based payment system.
This company made its debut in 2014 in Korea as a blockchain technology-based company. This company works for both the government and the big enterprises. Coinplug has signed a contract with the post company of Korea and is currently working on applications concerning the security and digital identity during the usage of Blockchain network.