Greetings Everyone, I am here to make my submission on this week’s task by our noble professor @alphafx

For this week, we have been tasked to compare two blockchain platforms of our choice. But I go straight to the point I will like to talk small on Blockchain.

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INTRODUCTION

Many people turn to ask what at all blockchain is. Blockchain is simply a database in which information is collected and stored digitally on a computer system. That is information in databases is organized in table format to allow easy access.

One might say a spreadsheet can also perform this task forgetting that with spreadsheet, it’s accessible to only one person but with the database it is accessible to any number of users.
With blockchain, information is gathered in groups called blocks and contains sets of information. These blocks have some particular storage capacities in which whereby if filled they are chained onto previously filled block. This then creates a chain of data called blockchain.

Lastly, with blockchain, transactions made can’t be reversed in a sense that they are link information. Therefore caution needs to be taken when making transactions because once they are chained together in blocks they cannot be reversed.

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Now, to the main Task for this week.

BLOCKCHAIN PLATFORMS

There are several platforms in which blockchain works on. All of them have their specific characters that makes them unique in nature. We have; Ethereum, TRON, EOS, Stellar and so on. I will have like to give details on all these platforms but we have assigned to compare two. I will therefore like to compare Ethereum and Stellar.

ETHEREUM

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This platform was set up in 2013 by a Russian Canadian Programmer called Vitalik Buterin. It provides a wide potential to users who can build and benefit from a lot of task and businesses that use it to improve efficiency. Ethereum solves the problem of centralization by working alone in a decentralized manner based on certain rules.

This platform does not require any permission and it uses the proof of work system where by this system is slower in terms of speed. Ethereum is the boss of all ICOs and faster than other platforms including Bitcoin.

Let’s now know what Stellar is all about.

STELLAR

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With this platform, it is an open source payment technology that gives many similarities with Ripple. It was created by Jed McCaleb. Its payment technology targets the reduction of the cost and time required for transfers. It operates on a network of decentralized servers with a distributed ledger. This is improved every 2 to 5 seconds. A special entity about Stellar is the consensus protocol. This protocol does not rely on whole miner network to approve transactions.

The table below shows the summarized comparison between Ethereum and Stellar

Property	Ethereum	Stellar
Industrial Use Cases	Multi Use	Finance Use
Ledger Type	No permission required	Public and Private
Governing Body	Ethereum Developers	Stellar Development Foundation
Speed	30 Transaction per second	3-5 seconds
Token Rank	2	11
Consensus Algorithm	Proof of Work	Stellar Consensus Protocol

CONCLUSION

Blockchain is an interesting aspect of earning but needs caution if not one might be found in deep problem. The platforms of Blockchain are also all unique in their making and needs to be examine well before making a choice.

From the above presentation with regards to the assignment task by our noble professor @alphafx I hope it is detailed enough to be considered.

Thank you.