Which of the following blockchain is used for non currency industrial application brainly
Blockchain technology has been gaining popularity in recent years due to its potential to revolutionize various industries.
While Bitcoin and other cryptocurrencies are well-known applications of blockchain, there are also many non-currency uses for this technology. In this article, we will explore some of the most promising blockchain platforms used for industrial applications.
1. Ethereum
Ethereum is one of the most popular blockchain platforms and has been widely adopted for a variety of use cases beyond cryptocurrency. It is an open-source platform that allows developers to create smart contracts, which are self-executing agreements that can be programmed to perform specific tasks. Ethereum’s decentralized architecture makes it attractive for industries such as supply chain management and finance, where transparency and security are critical.
One example of a non-currency use case for Ethereum is the food supply chain. By using smart contracts, farmers can track the origin and movement of their products through the supply chain, ensuring that they meet quality standards and are safely produced. This can help reduce waste and improve efficiency in the food supply chain.
Another example is the healthcare industry. Ethereum has been used to create a secure and transparent platform for storing medical records and tracking patient data. By using smart contracts, medical professionals can ensure that patient information is only accessible to authorized parties, reducing the risk of data breaches.
2. Hyperledger Fabric
Hyperledger Fabric is another popular blockchain platform used for industrial applications. It was created by IBM and is designed for enterprise use cases. Unlike Ethereum, which is a public blockchain, Hyperledger Fabric is a private blockchain that allows only authorized participants to join the network. This makes it ideal for industries where privacy is a concern, such as banking and finance.
One example of a non-currency use case for Hyperledger Fabric is the supply chain management of pharmaceuticals. By using a private blockchain, drug manufacturers can track the movement of their products through the supply chain, ensuring that they are stored in the right conditions and are not counterfeit. This can help reduce the risk of adverse effects and improve patient safety.
3. Corda
Corda is another blockchain platform that has been designed specifically for enterprise use cases. It was developed by Ripple, a company that specializes in cross-border payments. Corda is designed to be interoperable with existing systems, making it easy to integrate with legacy systems and other technologies.
One example of a non-currency use case for Corda is the supply chain management of energy. By using Corda, energy companies can track the movement of their products through the supply chain, ensuring that they are stored in the right conditions and are not counterfeit. This can help reduce the risk of adverse effects and improve patient safety.
4. Chaincode
Chaincode is a blockchain platform that was developed by IBM for enterprise use cases. Unlike Ethereum and Hyperledger Fabric, which allow developers to write their own smart contracts, Chaincode provides a pre-built set of templates for common use cases. This makes it easy for enterprises to get started with blockchain without having to hire specialized developers.
One example of a non-currency use case for Chaincode is the supply chain management of luxury goods. By using Chaincode, luxury brands can track the movement of their products through the supply chain, ensuring that they are stored in the right conditions and are not counterfeit. This can help reduce the risk of adverse effects and improve customer satisfaction.
Summary
Blockchain technology has the potential to revolutionize many industries beyond cryptocurrency. While Ethereum, Hyperledger Fabric, Corda, and Chaincode are some of the most popular blockchain platforms used for non-currency industrial applications, there are many other options available. As with any new technology, it is important for businesses to carefully evaluate the pros and cons of each platform before selecting one for their specific use case.
