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Leveraging Blockchain Platforms for Decentralized Applications

We have previously discussed the use-cases that are being developed by leveraging blockchain in depth. The year 2015 has undoubtedly seen a heavy spike in investments and hundreds of startups that have cropped up in this space. One major phenomenon was the development of multiple blockchain platforms. Platforms that would enable various third-party projects to leverage the core infrastructure and develop its own product have been mushrooming. While some platforms have started to gain widespread usage, the others are catching up.

Here are some of the notable platforms that we have seen integrations or projects being built:

Ethereum, Ripple, Eris Industries, MaidSafe, Counterparty, Stellar

Here are some of the other platforms that could be paving ways for projects:

Blockstream, Hyperledger, Epiphyte, PeerNova, Chain.com, Koinify

These blockchain platforms have been utilized by other players either for developing new projects or use-cases. While financial platforms like Ripple and Stellar have majorly seen partners in the integration space (gateways integrating to allow transactions), non-financial use cases have been dominated by Ethereum which has close to 14 different projects that are being run using their platform.

The below figure provides you with a snapshot of various apps/products/integrations that are being done on the core platforms.

Ripple: Ripple is completely focused on its enterprise strategy, helping banks with real time settlement for international payments. In 2015, it has launched 2 new solutions for license Cross-Currency Settlement and FX Market Making. Some of the business that have been utilizing the Ripple Protocol are:

Fidor Bank: Munich-based Fidor Bank AG was the first bank to integrate Ripple protocol to provide faster and affordable money transfer services for its customers.

Other banks joining ripple: Cross River Bank, CBW Bank

Gateway support: XAGATE, Bitstamp, Bluzelle, Ripula, The Rock, Gatehub, Payroutes, eXRP, Tokyo JPY, Exchange Tokyo, Pax Moneta, LakeBTC, SnapSwap, Rippex, Mr. Ripple, Bitso, BTC2Ripple, Digital Gate Japan

Bluzelle and GateHub also provide users a consumer-facing wallet. GateHub would be used by the users of Ripple Trade as Ripple has announced that from January 13, Ripple Trade would be shut down and the users would need to migrate to GateHub which will act as the new trading platform.

Ethereum: Ethereum provides a decentralized platform for building applications. Ethereum has seen the highest number of projects that are being built on a blockchain platform and also has several interesting, emerging use cases. The projects that are being built on Ethereum are:

Augur, Gnosis: Decentralized prediction market

BoardRoom: Blockchain governance platform

Colony: Platform for autonomous blockchain organizations

BlockApps: Tools to build decentralized apps

Airlock: Keyless access protocol for smart property

Provenance: Gather and share information & stories behind products

Slock.it: Smart locking and billing for the sharing economy

DigixGlobal: Technology to own gold assets

WeiFund: Crowdfunding platform

Maker: Autonomous bank & market maker

HitFin: OTC derivatives settlement

Solidity: Online compiler

EtherPArty: Smart contract deployment tools

Eris Industries: Eris industries, which was initially built based on the Ethereum code, has reworked and has released its platform for anyone to build and deploy blockchain and smart-contract-based projects. Eris Industries has been supporting projects that are further going to be developing open platforms to develop decentralized applications. Some of the projects being developed on its platform are:

Tendermint: Open-source blockchain platform that can support all blockchain applications, including bitcoin, Ethereum, and ErisDB.

2gather: Decentralized video-sharing service (akin to a decentralized YouTube)

MaidSafe: Provides a distributed platform that enables the creation of applications that help ensure digital privacy, security and freedom for all. One of its projects is SafeCoin, a digital token that ensures rewards for users who provide their resources to the SAFE Network.

Stellar: Provider of a decentralized P2P payment network. Some of the projects and gateways utilizing/integrated on Stellar are:

Wallet: Centaurus (Android), Stellars (iOS), Stargazer (desktop wallet)

Gateways and exchanges integrated: Bittrex, BTC38, Bx.in.th, Coinex, Dividend Rippler, Kraken, ANXPRO, Poloniex

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