- It is worth noting that while Tangle is oriented to IoT, its DAG topology is more efficient than that of the standard blockchain for such use.
- Daml helps to solve business problems by enabling enterprises to design accessible and efficient intelligent contract processes involving multiple participants.
- Oracle and IBM have many enterprise blockchain needs that cut across many industries.
Cryptocurrencies are relatively young in the industry, and XRP was one of the first to gain a foothold in the global market. However, 2024 has seen a formidable competition rise, threatening the dominance of XRP in the market. These competitors are Tangle, Daml, Swirlds, Oracle Blockchain Cloud Service, and IBM Blockchain, with new inventions of blockchain technology and the world of digital payments.
Tangle: A Revolutionary Alternative
Tangle from IOTA has attracted attention given the prospect of a technical solution that deviates from blockchain. Unlike Blockchains, Tangle uses a DAG structure making it faster and more scalable for its transactions. With such a design, Tangle is set to be a worthy competitor with many cryptocurrencies visible within the Internet of Things (IoT) electronics niche.
Daml: Streamlining Smart Contracts
The rapid evolution of the smart contract landscape implies that Daml is one of the leading platforms to develop and deploy smart contracts with Digital Asset. Their contractual programming model has been extensively received by financial institutions and enterprises that wish to achieve business optimization. Due to its efficiency in transforming complicated many-sided processes, Daml has become a rather profitable solution for businesses desiring to use blockchain.
Swirlds: Pioneering Hashgraph Technology
Swirlds, the company behind Hedera Hashgraph, has come up with a stunning new concept to challenge even conventional blockchain systems. Hashgraph technology is faster and more secure than many cryptos currently on the market. Swirlds’ consensus algorithm has placed it at the forefront of competition with other contenders seeking quick and effective distributed ledgers.
Oracle Blockchain Cloud Service: Enterprise-Grade Solutions
Oracle continues to expand in the blockchain area and has an excellent cloud solution for every business. A broader level decision from Oracle’s side is the development of Oracle Blockchain Cloud Service which can be viewed as a universal platform for blockchain applications. This is because it has been integrated with other Oracle products, which has made it a suitable solution for organizations, which want to adopt blockchain technology.
IBM Blockchain: Transforming Industries
IBM’s blockchain services have remained relevant and more advanced thus ranking the giant information technology company as a great player in the world of cryptography. Specifically targeting the business world, IBM Blockchain has also been utilized across a wide range of fields from the supply chain to the medical field. Due to its capacity to enable safe and clear transactions, it has emerged as a vibrant participant in the blockchain market.
The post The Cryptocurrencies Gearing Up to Overtake XRP in 2024 appeared first on Crypto News Land.
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