Learn more about the fastest, most scalable and the blockchains with low transfer fees in our reviews below and see which Crypto Lists consider the most successful to date.
37 Best Blockchains in the World
This is the toplist with the most successful and best blockchains in the world, especially relevant in United States. There may still be restrictions what people in the your country are allowed to do when it comes to blockchains and cryptocurrencies. So make sure that you read up on the regulatory restrictions before investing. Crypto is extremely volatile and not suitable for everyone to invest in. Never speculate with money that you cannot afford to loose.
Go directly to
- 1 37 Best Blockchains in the World
- 2 FAQ About Blockchains
- 2.1 What is a block in a blockchain?
- 2.2 How can a blockchain protocol be described?
- 2.3 What is a Distributed Ledger?
- 2.4 Transactions – How is Information Stored in the Blockchain?
- 2.5 Anonymity and Transparency
- 2.6 Security of the Blockchain Protocol
- 2.7 Why Care About Proof Of Stake (PoS)?
- 2.8 Comparison between PoS and PoW
- 3 10 Blockchains Worth Considering in 2022
FAQ About Blockchains
Here Crypto Lists list and answer the most frequently asked questions related to blockchain technology, how it works, their main properties and usage.
There is a large variety of utilities for different blockchains and a huge number of different tokens and coins related to different blockchains.
Have you got any questions about blockchains? Feel free to contact us and ask your questions. We are always open for suggestions on new exciting blockchains that we should have a closer look at and review.
What is a block in a blockchain?
A block is a data structure in a blockchain database, whereby transaction information in a crypto blockchain is recorded permanently and encrypted. Blocks record part of or every recent transaction that haven’t been validated by the network yet. After the data has been validated, it is closed. Consequently, a new one is made for new transactions to be recorded into and then validated. Then another block comes and finally another validated transaction.
Therefore, blocks are a permanent store of data records that cannot be removed or altered once written.
How can a blockchain protocol be described?
A blockchain is a decentralized database that’s shared between the nodes of a network. Blockchains electronically store data in digital format. Their main role is to maintain a decentralized and secure transaction records. The best part is it ensures the security and fidelity of data records and generates trust without involving a trusted third party.
Typically, normal database structure information into tables whereas blockchains structures it into chunks that are strung together.
What is a Distributed Ledger?
A decentralized ledger, also known as a distributed ledger, is a special type of database that is shared that is shared consensually and synchronized across a plethora of sites, geographies and institutions, accessible by many people. It enables financial transactions to have public witnesses.
The participants at every network’s node can access all the recordings that are shared across the network and have the ability to create identical copies of them. All the additions and changes that are made to that ledger are copied and reflected to every participant in a few seconds or minutes.
A decentralized ledger differs from a central ledger, which is used by the majority of companies. A central ledger usually requires a central authority (a trusted third party) to monitor and prevent manipulation. Central ledgers are more susceptible to cyber fraud and attacks, and have a single point of failure.
Transactions – How is Information Stored in the Blockchain?
Blockchains collect information and puts them together in groups that are referred to as blocks.
Blocks have limited storage capacities and when they are filed, they are closed and connected to the block that was filled previously. This creates a blockchain. Every new information that follows the freshly-added block will be compiled into a new block and then added to that chain once it is filled.
Anonymity and Transparency
As mentioned above, a blockchain is completely decentralized. Since it’s decentralized, every transaction can be viewed transparently by using chain explorers or a personal node that enable all participants to view transactions happening in real time.
For instance, if a particular crypto token was hacked by a totally anonymous hacker, the tokens that were extracted can still be traced easily. If the tokens that were stolen were to be spent somewhere or moved, it would immediately be known.
More so, all the records kept in a chain are encrypted. Only the owners of the network can decrypt the network to reveal the hackers’ identity (by using a public-private key pair). With an anonymous blockchain, chain users can remain anonymous in their dealings while preserving transparency.
Security of the Blockchain Protocol
The blockchain protocol achieves trust and decentralized security in many ways. First, new blocks are chronologically and linearly stored. In simpler terms, it means that they are added to the end of a particular blockchain. Once it is added to the end of that blockchain, it is impossible to go back and change its contents unless the majority of the network’s participants have reached a consensus to do it.
The reason for this is that all blocks have time stamps and a “hash” as well as the “hash” of the unit before it. Hash codes are designed by using a special mathematical function that converts digital data into a strong of letters and numbers. If any of this information is altered or edited in any manner, then that hash code changes as well.
For example, let’s say that hacker X, who also runs a node on the blockchain protocol, intends to change the blockchain protocol and steal cryptos from everyone. If hacker X alters his single copy, it will not align with the copies of the other participants on the chain. When all the other participants cross-reference their copies against the others, they will notice one copy standing out, and hacker X’s copy will be rendered illegitimate.
To hack it successfully, it would require hacker X to control and change 51% or more copies of that chain simultaneously so that the new copy is converted to the majority copy; and therefore, the agreed-upon chain. Carrying out such an attack would need so much resources and money because the hacker would have to rebuild all the blocks because they would be bearing different hash codes and timestamps.
Besides, the chances of the hack being fruitless are higher than becoming successful. In addition, doing so cannot go unnoticed because members will realize that there are drastic changes to the chain. This will result in the participants of that network to hard fork to a novel version that is unaffected. As a result, the value of the attacked version will plummet; thus, making the entire attack worthless.
That said, blockchains are designed in this manner to make participating in the chain more economically incentivized as compared to attacking it.
Why Care About Proof Of Stake (PoS)?
Blockchains with proof of stake are the most popular ones, since they speed up block verification and give rewards to all crypto owners that stake their assets.
Comparison between PoS and PoW
To validate new records or entries to a particular block, most of the computing power of the decentralized network would have to agree to it. To deter bad actors from validating double spends or wrong transactions, blockchains are kept secure by a consensus mechanism like Proof of Stake or Proof of Work.
A consensus mechanism is a technique of verifying entries into a decentralized database and keeping them secure. In the case of cryptos, that database is the blockchain. The consensus mechanism upholds the blockchain’s security. It also facilitates agreement even when no node is in charge. Let’s discuss these consensus mechanisms in much detail.
Proof of Work is a consensus mechanism that needs a feasible amount of effort to prevent malicious or frivolous applications of computing power, like carrying out denial of service attacks or sending spam mails. This concept was first used in 2004 by Hal Finney to secure digital money by employing the idea of “reusable proof of work” with the SHA-256 hashing algorithm. Bitcoin followed the same path and became the first widely adopted use case of Finney’s idea of PoW.
On the other hand, Proof of Stake (PoS) is a crypto consensus mechanism that is used to process transactions and create new units in a chain. PoS was designed as an alternative to PoW to solve the problems that the latter was facing. Proof of Stake is considered less risky based on the susceptibility for stacks on the chain. The reason for this is that PoS structures compensation in such a manner that if an attack was to be carried out on the network, it would be less advantageous.
10 Blockchains Worth Considering in 2022
Binance Smart Chain (BEP20). Having been established in August 2020, the Binance Smart Chain is a relatively new player in the crypto space. It was developed as a parallel chain to the Binance Chain which was introduced in April 20220 to promote decentralized trading. It boasts high throughputs, smart contract capabilities and it’s compatible with the Ethereum Virtual Machine (EVM).
Avalanche blockchain
The Avalanche chain is identical to Ethereum and known for the fast transaction speed and low transfer costs. Avalanche is frequently used in dApps. Learn more about Avalanche blockchain here or read more about the native coin AVAX.
ERC-20 blockchain
Ethereum is widely regarded as the most secure cryptocurrency platform. They still employ the Proof of Work (PoW) consensus mechanism, similar to Bitcoin. However, the Ethereum blockchain is planning an upgrade to Proof of Stake (PoS) in the coming upgrades. When Crypto Lists measured new cryptocurrencies from ERC-20, in average 73 tokens was released every single day. The comparison was made between Dec 2021 and Feb, 2022. Discover more about the ERC-20 blockchain here.
Binance Smart Chain (BSC)
Lots of functions are available for developers with BSC and it has become one of two major blockchains in 2022. In average, 70 new BSC tokens are released every day, when measuring between December 2021 and February 2022. Binance Coin (BNB) is the native cryptocurrency for BSC. Learn more about Binance Smart Chain now.
Solana blockchain
Solana’s network prioritizes extremely fast transactions, partly thanks to having two different consensus mechanism – Proof of History (PoH) and Proof of Stake (PoS). Solana is able to process among the fastest blockchain transactions, at about 50,000 transactions per second. In average, 1.5 new Solana tokens were released between December last year and February 2022. Read more about Solana blockchain here.
Fantom Opera blockchain
It can handle myriads of transactions per second and its transactions are usually settled in a second or three. This South Korean blockchain has been growing rather fast and solve three issues. Learn more about Fantom Opera here.
Matic blockchain
Initially known as MATIC, Polygon is a crypto platform that was developed to provide a blockchain protocol for developing Ethereum-compatible networks. It serves as the sidechain to Ethereum or a parallel chain that’s linked to Ethereum. It has gained immense popularity because it offers extremely low gas fees and faster speeds. It also enables crypto developers to conveniently launch scaling solutions that are compatible with Ethereum as well as standalone chains that form a network of interconnecting chains.
Terra blockchain
Terra is a decentralized finance ecosystem that forms an algorithmic stablecoin called UST. The Terra blockchain is fairly new and positioned to offer high rewards for stablecoin staking, quick transfers and low transfer fees. Learn more about Terra blockchain here.
ATOM blockchain
Cosmos is one of the major chains that have prioritized interoperability. It is preferred by many crypto traders and investors because they can communicate with each other on the network. That is why it has been dubbed as the internet of blockchains. It is also designed to be highly scalable and provide faster processing times.
Cronos blockchain
Cronos is an Ethereum Virtual Machine chain and it runs parallel to Crypto.org chain. Learn more about Cronos blockchain here.
Cardano blockchain
Considered as the main rival to Ethereum, this platform was established in 2015 as a third-generation chain that prioritizes scalability and an environmental-friendly PoS system. It was created from peer-reviewed academic research and is developed by a tech company known as Input Output Hong Kong (IOHK). Cardano recently finished a hard fork upgrade that will help to facilitate smart contract integrations on the chain.
Ripple blockchain
XRP is used in payments, change and settlements. Its main objective is to fix the problems with traditional banks such as slow transactions and expensive charges.