17. April 2025 | Medienmitteilung
The various blockchains used in the financial industry and their differences
Since the launch of the Bitcoin blockchain in 2009, numerous blockchain platforms have emerged, many of which have since disappeared. Initially, the focus was primarily on cryptocurrencies and their management, but developers soon expanded blockchain’s scope to include tokenisation of assets and the creation of smart contracts. Today, several blockchains play a crucial role in the financial industry, with some still on the rise.
Ethereum: While Bitcoin was the preferred blockchain for financial applications in the early days, Ethereum has since established itself as the leading platform for tokenising financial assets and transactions. Unlike Bitcoin, Ethereum provides a flexible development framework that supports a broad range of applications, making it the primary choice for creating financial products and their tokenisation.
Hyperledger Fabric: Developed as an open-source project by the Linux Foundation, this distributed ledger platform serves as the foundation for several enterprise-grade blockchain solutions, including IBM’s Blockchain Platform. Hyperledger Fabric is intended for use as a framework to develop corporate applications, increasingly including in the financial industry.
Polygon is a platform that enables Ethereum-compatible blockchain applications while addressing Ethereum’s limitations in speed and cost efficiency. By leveraging sidechains, Polygon offloads transactions from the Ethereum main chain, thereby improving transaction speed and reducing fees. The platform also provides a Software Development Kit (SDK) for developers and has its own native token, MATIC.
Quorum is one of several blockchain platforms employed by JP Morgan for various use cases, such as tokenising securities, tracking supply chains and automating contracts.
Avalanche: Another Ethereum-compatible blockchain platform designed for a wide range of applications that uses its own native token called AVAX.
Tezos is a blockchain platform and coin that distinguishes itself through its complex smart contract language, Michelson.
Ripple is primarily intended for use as a blockchain platform to facilitate cross-border currency transactions, but has evolved into a framework for financial applications.