Everything You Must Know About Key
Blockchain Protocols

A global, open-source platform for decentralized applications. Write smart contracts that control digital value, run exactly as programmed, and are accessible anywhere in the world.

Global EventDevcon
ConsensusProof of Work (PoW)
Public / Private / PermissionedPublic
Smart contractsYes
Smart contract language(s) supportedSolidity
Transaction privacyNo
Transaction visibilityAll participants have access to all entries ever recorded.
Transaction orderingAll participants must reach consensus over the order of all transactions that have taken place, irrespective of whether a participant has taken part in a particular transaction or not.

Fault tolerance

PoW is vulnerable to a “51% attack”. Whoever has 51 percent or more of a network’s computing power can manipulate the blockchain to their advantage.

Performance

Performance on public blockchains utilizing PoW are orders of magnitude less than permissioned or private blockchains running other consensus protocols.

Suggestions for use with consortiums

Use Ethereum:

  • to anchor private blockchain data
  • for cryptocurrency mining/exchanges, and
  • to publish transactions for the public to view

Industry use case

Token securitization, land registries, token-enabled marketplaces, standardized data, add digital identity, certifications (e.g. academic, birth) and notarization.

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What’s next?

Ethereum deployment is already supported on Chainstack. Learn more about the free trial plan to get started right away.

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