The blockchain 3.0 is a real thing. So are blockchains 2.0 and 1.0. The truth of the matter is that blockchain came out as a very unique and strange concept that although made sense and promised big things, was way too complex initially. As time passed newer and better ones kept coming out and this has opened us to the third generation of blockchains that are actually doing a lot more than the previous gens. Here are the metrics that help us define the best ones:
- High Scalability
Bitcoin, as we all know, was the starter of it all, the pioneer first gen blockchain. This was followed by the 2nd gen Ethereum, but none of them do adequately in all the 4 properties above.
The 3rd gen blockchains are helping change it all at once. They include names like Cardano, Zilliqa, EOS, QTUM, and ArcBlock.
Zilliqa calls itself as “The Next Generation, High Throughput Blockchain Platform.”
Zilliqa is trying to work on the problem of scalability. But, aren’t they all? As of now, Zilliqa can process 100s and 1000s of transactions per second and can handle smart contract deployment as well as execution at the same speed through a revolutionary technology called Sharding. This is complicated but the key to success here.
Their public test-net version of blockchain is out and the main-net launch is also set. Zilliqa uses Zilliqa native cryptocurrency (ZIL) to run the token economics of the blockchain which is also the fuel of the Zilliqa blockchain.
EOS – A blockchain trying to solve more issues apart from scalability, privacy, interoperability, such as its ability to secure a huge amount of data.
It is working on its community to help produce something awesome. EOS refers to this concept as DACs i.e. decentralized autonomous communities or autonomous corporations.
For this, EOS provides tools to make DApps and smart contracts over EOS blockchain which is fast, secure, private, and can store large amounts of data in a decentralized manner.
ArcBlock is working on making the world’s different blockchains more compatible and user-friendly with each other to make more comprehensive DApps.
It is trying to change the way we look at nodes and peers. It has suggested and debated a few upgrades such as:
- Cloud Nodes
- Open-chain access protocol
ArcBlock’s Open Chain Access Protocol enables applications to adapt to a variety of blockchain protocols including Bitcoin, Ethereum, Hyperledger, and more. This means that whatever it does will have a very large ripple effect on all others.