Weekly Lesson 29\/11\/2024 | Types of Blockchains: Exploring Key Crypto Networks

In the ever-evolving world of blockchain technology, various networks cater to different needs and use cases. While some blockchains are designed for scalability and efficiency, others focus on specific industries like gaming or decentralized finance (DeFi). Here’s a breakdown of some of the most notable blockchain types you should know about.

EVM-compatible blockchains are networks that can run Ethereum-based smart contracts and decentralized applications (dApps). These blockchains are designed to be compatible with Ethereum’s infrastructure, meaning developers can easily deploy applications originally created for Ethereum. The key advantage of EVM chains is that they enable faster, more cost-effective transactions while maintaining Ethereum’s security features.

• Binance Smart Chain (BSC): Known for low transaction fees and fast block times.

• Polygon (Matic): A scalability solution for Ethereum that helps improve transaction speeds and lower costs.

• Avalanche (C-Chain): A platform designed for fast and scalable decentralized applications and custom blockchain networks.

• Fantom: A high-performance blockchain that supports dApps and smart contracts.

Ronin is a blockchain designed with a particular focus on gaming and non-fungible tokens (NFTs). Developed by Sky Mavis, Ronin supports the popular blockchain game Axie Infinity and is tailored to provide a seamless gaming experience with low fees and fast transactions. While Ronin is not EVM-compatible, it serves the unique needs of the gaming and NFT industries, where scalability and cost-effectiveness are critical. Its ability to handle large-scale gaming ecosystems makes it a standout choice for blockchain-based gaming platforms.

Sei is a blockchain built for high throughput and low-latency performance, specifically aimed at decentralized finance (DeFi) and trading applications. Unlike traditional blockchains, Sei is optimized to offer low transaction fees and faster speeds, making it an ideal network for financial services, including DeFi protocols. While not EVM-compatible, Sei’s focus on scalability and performance makes it a suitable solution for trading and financial applications that require high efficiency.

Sui is another high-performance blockchain, designed to provide fast and secure applications. With a focus on decentralized applications and NFTs, Sui leverages parallel transaction processing to increase throughput, making it one of the fastest blockchain platforms available. Though not EVM-compatible, Sui differentiates itself through its scalability and speed, making it an attractive option for developers looking for performance-driven blockchain solutions.

Aptos is a Layer 1 blockchain that focuses on scalability, security, and high throughput. Unlike other blockchains, Aptos utilizes the Move programming language, which is designed to offer enhanced security and faster transaction execution. Although it is not EVM-compatible, Aptos aims to be a competitor to Ethereum by offering innovative consensus mechanisms and transaction parallelization, which significantly improve its performance. This blockchain is gaining attention for its unique approach to blockchain security and its focus on scalability for decentralized applications.

Ronin, Sui, Sei and Aptos are not EVM-compatible.