About this Constellation ShortList
Blockchain technology platforms bring key components required to enable new business models. Constellation estimates that the overall blockchain technology platform market will reach $41.1 billion by end of 2025.
The core of blockchain is the algorithm used by the pool of participants to establish consensus about the state of the ledger. Consensus has been a field of computer science for many years, but blockchain stimulated a great new round of R&D. Different consensus mechanisms include: Practical Byzantine Fault Tolerance (PBFT), Paxos, Proof of Work, Proof of Stake, Raft, and Proof of Elapsed Time.
Blockchain will play a role in transforming how contracts, digital assets, cryptocurrencies and other digital goods will be created, controlled and transferred in a digital world. Key use cases focus on provenance of data, creation of trust networks and the facilitation of smart contracts. Because there is much confusion concerning protocols, standards and approaches, this list identifies the most innovative and commonly used platforms.
Organizations conducting their own strategic research and development have a wide choice of blockchain platforms for experimentation and proof of concept.
Constellation considers the following criteria for these solutions:
- Creation of assets, contracts, objects and other digital objects
- Control of assets, contracts, objects and other digital objects
- Transfer of assets, contracts objects and other digital objects
- Permission model support
- Consensus algorithms
- Public and private network support
- Multiple currency (if applicable)
- Consensus flexibility
The Constellation ShortList™
Constellation evaluates more than 30 offerings categorized in this market. This Constellation ShortList is determined by client inquiries, partner conversations, customer references, vendor selection projects, market share and internal research.
- Binance Smart Chain
- ConsenSys Quorum
- Hyperledger Besu
- Hyperledger Fabric
- Hyperledger Iroha
- Hyperledger Sawtooth
- IBM Blockchain Platform
- XDC Network
Frequency of Evaluation
Each Constellation ShortList is updated at least once per year. Updates may occur after six months if deemed necessary.
Constellation clients can work with the analyst and research team to conduct a more thorough discussion of this Constellation ShortList. Constellation can also provide guidance in vendor selection and contract negotiation.