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Blockchain Top Protocols and Platforms - Comparison

Navdeep Singh Gill | 28 March 2022

Blockchain Protocols, App Development and Solutions

What is Mojaloop?

Mojaloop is an open-source digital-payment platform for financial services on a national level. Mojalopp is extremely scalable & interoperable for enabling connection with banks, users, merchants, payments.

What problems does it solve for us?

Mojaloop includes three components: an interoperability layer, which connects mobile money wallets and merchants, a directory service layer, which navigates the different methods that providers use to identify accounts on each side of a transaction; a transactions settlement layer, which makes payments fast and irrevocable.
Dapps include serverless provisions that can be run mutually on the customer side and inside a blockchain based dispersed network. Click to explore about, Decentralized Applications on BlockChain Technology

What are the benefits of Mojaloop?

The benefits of Mojaloop are described below:

Money Transfer capabilities

Mojaloop aims at removing this third-party involvement and keeping the transactions only limited to the sender and the receiver.

Ledger Capabilities

With the help of Mojaloop, we can save ourselves from any overheads and third party involvements and send or receiving money could be as hassle-free as sending emails. BlockChain Technology is a peer to peer software technology that protects a digital piece of information.


Given interledger’s impressive interoperability, scalability - regarding adding support for new financial institutions and financial services seems painless


Fairly standard web APIs; trivial JS implementations - very programmable friendly


Interledger protocol accounts for sufficient security measures for money transfers (via Hash-Time-Locked-Contracts)

Ease of Use

Extensive documentation, Mojaloop APIs that are straightforward & easy to understand.
A distributed database that maintains a continuously-growing list of ordered records called blocks. Click to explore about, BlockChain App Deployment with Microservices

What is Hyperledger?

Hyperledger is an open source collaborative based on blockchain.It is including leaders in finance, banking, Internet of Things, supply chains, manufacturing and Technology.

Projects under Hyperledger

  • Hyperledger Sawtooth: Hyperledger Sawtooth is a modular blockchain suite developed by Intel, which is based on an algorithm called Proof of Elapsed Time (PoeT).
  • Hyperledger Fabric: Hyperledger Fabric is a plug and plays implementation of blockchain technology designed as a foundation to develop high-scaling blockchain applications with a flexible degree of permissions.
  • Hyperledger Burrow: This project develops a permissible smart contract machine along the specification of Ethereum.

What are the basic features of Hyperledger?

The basic features of Hyperledger are listed below:


Given interledger’s impressive interoperability, scalability - regarding adding support for new financial institutions and financial services seems painless


Fairly standard web APIs; trivial JS implementations - very programmable friendly


Interledger protocol accounts for sufficient security measures for money transfers (via Hash-Time-Locked-Contracts)


Interledger is an open protocol suite for sending payments across different platforms.

TX costs

> 1,000 transactions/s (Sawtooth Lake) primarily for larger networks
Decentralized Apps will come in different sizes, flavors and complexity levels. Click to explore about, BlockChain App Deployment with Microservices on Docker

What are the top 8 platforms for Blockchain Technology?

The best platforms for Blockchain Technology are described below:


Ethereum is an open-source blockchain-based distributed platform and operating which uses smart contract functionality.Ethereum helps developers to build and deploy a decentralized application.A smart contract is used to describe any code that can facilitate the exchange of money, content, property, shares, or anything of value.Decentralized applications (or Dapps)includes serverless provisions that might be run mutually on the customer side and inside a blockchain based dispersed network, for example, such that Ethereum. The various benefits of ethereum are below:


Ethereum helps to  develop scalable DApps and DAO, flexibility which helps to increase transaction performance, security


Easy to use as solidity is widely used for there platform, well documented and has StackOverflow group of developers.


Secured and highly trusted as many of the ICOs are based on Ethereum platform.
  • Potential network issues (DDoS)
  • Exploitable Smart Contract code (reordering, insertion of transactions)


It supports multiple token and cryptocurrencies, and many of them are based on Ethereum platform only.

TX costs

7/10; faster than BTC & still relatively cheap per transaction
  • 15-20s vs 3-5s (Lumens); 10-30m (Bitcoin)
  • 0.25$ vs < 0.01$ (Lumens); 6$ (Bitcoin)
  • Approaching updates though that will greatly improve this (e.g., Raiden network)

What is XLM or Stellar?

Stellar is a  blockchain based platform that connects banks, payments systems, and people. XLM helps to move money quickly, reliably, and at low cost.Stellar also features a built-in distributed exchange which allows people to not only buy and sell currencies but also to convert from one currency to another during cross-currency transactions. The benefits of Stellar are described below:


A single transaction consists of many operations like payment, offers and fees. Processing rate – 1000 operations per second


A technical team will setup database table, write code to listen to the stellar ledger, conduct transaction and can test integration.

Ease of use

Free to use, need 120-200 hours for integration depending on size and experience of the development team.


Base account’s details can be stored on an offline computer. Can freeze assets if the account is AUTHORIZATION REVOCABLE.


Allow easy and cheap transfers between any pair of currencies.

TX costs

0.00001 XLM (Very low) 9/10; extremely fast & cheap comparative to other leaders in speed & cost like Ethereum
  • 3-5s vs 15-20s (Ethereum); 10-30m (Bitcoin)
  • < 0.01$ vs 0.25$ (Ethereum); 6$ (Bitcoin)

What is Ripple?

Ripple is a blockchain based platform that connects banks, payment providers and corporates via RippleNet to provide a unified way to send money globally.It offers Connectivity across various payments network, Instant on-demand settlement and helps in Real-time traceability of funds. The key capabilities of ripple below described:


The core of this peer-to-peer network is an open source C++ application called rippled,  which is highly scalable.

Ease of use

Mainly used by banks, Not many developers are using the technology.


It can support multi-currency as used by banks for money transfer.

TX costs

0.00001 XRP(10 drops)


  • Xcurrent- Banking
  • Xrapid- Payment providers
  • Xvia- Businesses
A digital twin is the ability to take a virtual representation of the element and the dynamics of how an IoT device operates and works. Click to explore about, Digital Twin Technology

What is Litecoin (LTC)?

Litecoin is a peer-to-peer platform that enables instant, near-zero cost payments. Litecoin is fully decentralized open source platform based on blockchain. Litecoin features faster transaction and improved storage efficiency than other currencies. LTC is capable of handling higher transactions when compared to other platforms.

The key capabilities of Litecoin is below described:

Wallet Encryption

LTC includes Wallet encryption which allows you to secure your wallet so that you can view transactions and your account balance.

Open Source

Litecoin is an open source software which gives you the power to run, personalize and copy the software to distribute modified copies of the software.


Easy to use and develop as it based on an open source platform.

What is Bitcoin (BTC)?

Bitcoin is a  peer-to-peer technology based on Blockchain platform which helps in managing transactions.

Mobile payments made easy

Bitcoin  transactions can be done on mobiles with a simple two-step authentication scan-and-pay

Security and control over your money

Bitcoin transactions are secured by cryptography which makes transactions very secure

What is New Economy Movement (NEM)?

NEM is a Smart Asset blockchain which helps in the management of currencies and supply chains. NEM enables you to create Addresses that act as containers for Mosaics which further can be connected with Multisig rules. NEM can be customized for any application as it is highly customizable.NEM’s key advantages are its ability to interface between public and private blockchains seamlessly. NEM  is based on Smart Asset System which allows you to develop and launch your cryptocurrency.

What is IOTA?

IOTA is a public distributed ledger that utilizes a data structure called Tangle which is based on Directed Acyclic Graph.

The features of IOTA are below listed:

  • Scalability: IOTA can achieve high transaction of transactions with no limit as to the number of transactions
  • No Transaction Fees: IOTA includes no transaction fees.
  • Decentralization: IOTA is more decentralized than any Blockchain.

What is Gems?

Gems is a decentralized, open-source protocol developed on top of the Ethereum blockchain. Using the GemsProtocol, anyone can tap into the skill of scalable micro-task workers without requiring to worry about task verification, trust, or payments. Gems is a protocol for engaging workers to perform micro-tasks. Workers stake tokens to prove the validity of their tasks and earn a reusable computed trust score, improving the cost-efficiency of the network while democratizing access to scalable micro-task workers.

How can XenonStack help you?

BlockChains can support the creation of new, more efficient business processes. Now as you understand the basic fundamentals of BlockChain Technology, you need to decide whether BlockChain fits your needs or not.

BlockChain Cloud Services

XenonStack offers BlockChain based, end-to-end encrypted, distributed object storage on leading Cloud Service Providers like Google Cloud, AWS, Microsoft Azure or on Container Environments - Kubernetes and Docker. Deliver Business Results, Drive Innovation, and reduce Risk and Complexity with our Cloud Solutions.

Decentralized Application (dApp) Development

Build high end and cost-effective Decentralized Application (dApp) and Smart Contracts using Ethereum Platform. XenonStack offers BlockChain Development Consulting, BlockChain Apps Development, and Smart Contracts Development.

Big Data Analytics

Perform transactions in real-time at a significantly low cost with Big Data Analytics. Identify patterns in consumer spending and identify risk transactions a lot quicker with Big Data Analytics Services.