Blockchain Protocols: Transforming Business Operations for Unprecedented Growth
Blockchain is making its mark all across industries. With decentralization at its core, blockchain is helping startups and enterprises achieve speed, transparency, and efficiency with ease. Some of these include entertainment, real estate, healthcare, and entertainment, among others.
Besides, key decision-makers are betting high stakes on the potential of blockchain to optimize their operations and reduce the overall cost. As per International Data Corporation, the worldwide spending on blockchain solutions is slated to reach a whopping $12.4 billion in 2022.
At Prolitus, we offer end-to-end blockchain protocol development services to help you navigate your journey towards blockchain with ease. Our carefully crafted solutions and extensive domain knowledge help your client take the lead and scale their business with ease.
BIf you are a startup or a small or medium-sized enterprise looking for a blockchain protocol development company, we can successfully fulfil your needs.
But why are we so keen on blockchain? Well, when it comes to transactions, blockchain records them on a ledger. It is extremely important that every node has an identical copy of the database. If this is not done, it can lead to conflicting information.
A consensus algorithm lets users and machines coordinate a distributed setting. So, at Prolitus, we leverage consensus algorithms to build high-performance blockchain products.
Also, when it comes to DeFi, it has witnessed staggering growth over the last two years. DeFi protocols can address all the issues and pain points in the finance industry. These include centralized control, inaccessibility, delayed transactions, and more.
We also offer mission-driven solutions for protocol development in the DeFi space. So, take that plunge and tap into the billion-dollar market.
Types of Blockchain Protocols
Proof of Work (PoW)
It involves miners competing to solve a puzzle and leveraging their computers’ processing power. The first one to solve the problem is rewarded for their work.
Proof of Stake (PoS)
The PoS algorithm does not require competition among validators as the block creator is chosen by an algorithm. So, as the creators solve the puzzle, they receive a transaction fee.
Proof of Authority (PoA)
The Proof of Authority (PoA) lets a few network participants validate transactions or interactions in the network to update its more or less distributed registry.
Delayed Proof of Work (dPoW)
Yet, another modified version of the PoW algorithm is a modified version of the Proof of Work consensus algorithm. This lets one blockchain leverage the security of another blockchain by using the hashing power of a secondary blockchain.
Leased Proof of Stake (PLoS)
An enhanced type of Proof of Stake consensus algorithm, PLoS, is used by the Wave blockchain to achieve consensus across the network.
Delegated Proof of Stake (DPoS)
It is the advanced version of the PoS algorithm. These systems are maintained by a voting system. In this, nodes are chosen to verify blocks.
Popular DeFi Protocols
It is a DEX built on Ethereum’s smart contract protocol. It lets you trade and swap ERC-20 tokens directly from the Ethereum wallet.
A well known DEX built on blockchain, Project Serum is compatible with Bitcoin and Ethereum. It lets traders engage within transactions involving cryptos other than ERC-20 tokens.
An open-source autonomous protocol, Compound boosts efficient money circulation on the Ethereum blockchain.
One of the most popular DeFi lending protocols, Aave, is a non-custodial and open-source protocol that helps you earn interest on deposits and borrow assets.
It consists of DeFi-focused protocols that leverage the power of multiple lending services, including Dydx, Compound, and Fulcrum, to optimize lending options.
Fulcrum was designed for streamlining tokenized margin trading and lending. It lets users lend assets for interest and easily enter into short/leveraged positions.
Popularly known as SushiSwap, it lets users deposit their tokens into a liquidity pool. Post that, the funds are lent out, and the participants can earn interest on the money.
Kyber Network is a decentralized, blockchain-based protocol that aggregates liquidity and enables the exchange of tokens without an intermediary.
Maker, a crypto lender, is one of the pioneers of DeFi, Maker uses smart contracts on the Ethereum blockchain to make loans based on DAI, a stablecoin.
Why Choose Prolitus As Your Blockchain Protocol Development company?
By joining hands with Prolitus, you get access to a team of technical experts that deliver products that stand the test of time and tide.
Sound Tech Advice
Our experts hold extensive experience in developing blockchain products and protocols.
We don’t brush off our hands after product delivery. Our post-delivery services are one-of-a-kind, and all you need to do is focus on your business growth.
Super Supportive Team
Our team of experts is super supportive and will help you fine-tune your products, use the best of tech approaches and even set up communities and campaigns.
We build mission-driven solutions and ensure that you get 10x value from your investments.
We deliver products that strike the right chord with your audience. Our roadmaps are comprehensive, and we follow a flexible approach to expedite development and deployment.
Our Blockchain Portfolio
AXIA offers a blockchain-based digital ecosystem without restrictions and rewards hyper-deflationary currency users. AXIA aims to create a digital currency and a transparent, equitable, productive, and fruitful economic system for all parties involved.
Phaeton builds sustainable communities with blockchain. Phaeton's business strategy differs from rivals'. Instead of waiting for new businesses to adopt Phaeton Blockchain, the company offers a collaborative working environment to develop and guide Blockchain startups to independence.