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The blockchain protocol is a relatively new technology which was Satoshi Nakamoto’s baby. It was invented in 2008 to be the ledger that would record all transactions that are made using the world’s largest cryptocurrency, Bitcoin. Since the market has seen a boom, with a huge number of altcoins and even larger public appraisals. The market now has a decent community around it and has become the breeding ground for new products, projects and startups.

Blockchain essentially is a protocol that has a certain number of rules and guidelines that need to be followed to make sure that a new block is added to the chain. The unique feature of the blockchain is the fact that once a block is added to the chain, it cannot be altered, tampered with or even deleted.

However, there are many variations in this blockchain protocol with their own set of USPs and, here is a list of top five protocols in the market now;

Essentia.one

Essentia is a protocol that connects both centralized and decentralized resources. Using a master-noded, multi-chain set of protocols Essentia makes sure that by connecting the two different types of resources are connected to each other in such a way to encourage compatibility between them.

Also, read – https://itsblockchain.com/top-10-penny-coins-2018/ 

The founders of Essentia are people who have worked in close proximity and in the Internet and Communication Technology industry (ICT). The founders of the protocol are; Mirco Mongiardino, Matteo Gianpietro Zago, and Vladimir Holubovych. They work out of the Netherlands.

NEO Protocol

The Chinese blockchain platform uses a consensus mechanism protocol, the most common of which are Proof-of-Stake and Proof-of-Work systems. NEO, however, adds another factor the mix and is a variation of it.

Also, read – https://itsblockchain.com/top-platform-based-cryptos/ 

The NEO protocol uses the Delegated Byzantine Fault Tolerance as its consensus mechanism. The General Byzantine Problem is a typical army problem and in there have been many protocols that have tried to solve the problem. The most common of those being the Hyperledger. In order to curb scalability problems, that literally all blockchain’s face, NEO’s creators chose the dBFT consensus method to be integrated with the PoW system for their protocol.

EOS

For EOS’s platform, the consensus method used is a Decentralized Proof-of-Stake method. In which people will have to stake their coins in order to be able to validate a block and if the validation is accepted by the blockchain they are paid in rewards proportional to the bet that they placed in the first place.

Also, read – 

https://itsblockchain.com/eos-101-new-blockchain-operating-system/

https://itsblockchain.com/eos-brendan-blumer/

LISK

LISK is a platform that allows users to code and builds decentralized applications on the blockchain. The aim of LISK to create a user-friendly environment in which users can build, code, distribute and monetize their applications.

Also, read – 

https://itsblockchain.com/lisk-101/ 

https://itsblockchain.com/lisk-rebranding/ 

A new block is generated on the LISK network every ten seconds. The consensus method that the network uses is decentralized proof-of-stake. The platform was founded by Oliver Beddows and Max Kordek.

Ethereum

Apart from being the second largest cryptocurrency market capital wise, Ethereum is also a developer platform. The platform runs smart contracts and minimizes the possibility of scam, fraud and third party interference by enforcing them.

The smart contract use case of the Ethereum platform is a widely used feature. It is used as a sort of proof between investors and developers of an application. It was boot launched along with the coin itself in 2014.

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Ramaa Mohan