How Did Blockchain Come About?
When we hear the term Blockchain, many associates it with cryptocurrency. But the reality is that the revolutionary Blockchain technology has been around even before the first cryptocurrency was launched. The launch of Bitcoin back in 2008 brought more exposure for the underlying technology behind it that is the Blockchain technology. made has been in existence as a concept in computer science even before it was used in cryptocurrency.
The origins of Blockchain were first found back in 1979, when a certain Ralph Merkle patented the technology which came to be known as hash tree or Merkle tree.
Years later, in 1991, a ‘secured chain of blocks’ consisting of several data was created using the Merkle tree which was connected in a chain, one after the other. Even the latest entry record in the chain will be able to see the history of the entire chain providing complete transparency, which is what the Blockchain is all about “complete transparency.”
Functionality of Blockchain
The blockchain maintains an online ledger that records and maintains each and every data exchanges performed on that particular blockchain network,the exchange data recorded in this ledger is known as transactions.
Once the transaction is verified on the ledger it then enters a block after which a peer-to-peer network of nodes is verified using a distributed system. One a transaction enters a block it can never be removed or altered with.
A blockchain network is updated every 10 minutes and consists of different blocks being connected to each other.
Every single block is connected through several computers called nodes, these nodes have a copy of the blockchain.
These nodes inspect the hash to ensure that the transactions are not altered, a transaction cannot enter a block on the blockchain if it is not approved by several nodes. The concept of the Blockchain technology has flourished in recent times and rightfully so.
Let’s take a look at some of the best blockchain companies which are probably on course to becoming billion-dollar companies.
List Of The Top Blockchain Companies Worldwide
With almost three decades of experiences and several offices in eastern Europe, The US and The EU, ScienceSoft is a software development and IT services firm which provides .the best quality development of custom blockchain-based enterprise solutions.
ScienceSoft has provided custom blockchain solutions in Supply Chain & Logistics Management Systems, Secured and Transparent Trading Platforms, Distributed Communication Networks, and several other Business ventures.
ScienceSoft is also well equipped to provide professional help in end-to-end blockchain application development as the company has tons of experience in related areas like cloud services, cryptography, IoT and Web and Mobile development.
Being one of the older companies in the Blockchain industry, ScienceSoft also provides Blockchain Audit, Blockchain testing services, Blockchain training, Blockchain consultation, and, Migration of legacy solutions to the Blockchain infrastructure.
Headquarters: McKinney, Texas.
Currently active Employees: 550+
Revenue forcast: $25 M.
Founded in 2012 by Brad Garlinghouse, Ripple is an American fintech company which earned its fame after developing the Ripple protocol and exchange platform that uses blockchain technology for an efficeint and seamless cross-border payment solutions.
Ripple uses its global payment system RippleNet to connect banks, worth trade organizations and other financial service providers to connect businesses from different sectors.
Ripple also eliminates the need for a third-party correspondence by providing a real-time payment system through which banks and other financial service providers can perform direct transactions.
Ripple enterprise software solution xCurrent enables banks to track their end-to-end transactions. By using Ripple’s token XRP as a bridge between currencies xRapid enables banks to solve the liquidity issues and facilitate cross-border transactions.
Ripple has also developed a new financial tool called xVia through which businesses can perform transactions using Ripple Net.
Ripple has grown its presence in eight countries as it has offices in India, the UK, Luxembourg, USA Singapore and Australia.
So far Ripple has received fundings summing up to $93.6 million.
Headquarters: San Francisco, California, USA
Employees: Including Brad Garlinghouse Ripple has six important individuals in its management, and 150 employees
Estimated Annual Revenue: As per data provided by 2018 sales summary chart Ripple generated $8 million revenue and it’s subsidiary XRP II generated &65.27 million while LLC generated $98.06 million in revenue.
Founded in 2007, Leewayhertz is an award-winning software development and blockchain company that is well known for developing blockchain applications for start-up and enterprises.
Leewayhertz also develops various digital platforms on IoT, blockchain, mobile and cloud.
Leewayhertz has developed blockchain-based platforms on several frameworks like o dApps, and smart contracts. While also specializing in ICO and STO launch services, software development and Hedra hashgraph.
Headquarters: San Francisco, California, USA. With offices in Lake Forest, Illinois, and Gurgaon, India as well.
Annual Revenue Forecast: $1 Million.
Based out of Norway, Blockchangers was launched back in 2015 with the aim to educate clients about the underlying potential of the revolutionary Blockchain technology.
Blockchangers has a mission to contribute towards a successful future for blockchain by bringing about corporation with public and private institutions.
Blockchangers has a client portfolio of reputed institutions like PwC, Lyse, Oslo Blockchain day, Trigger, Kantega, Datatilsynet to name a few.
Blockchangers also plays hosts to Northern Europe’s largest blockchain conference.
Blockchangers offers the following services workshops, lectures, blockchain development, banking software development, consulting and front-end services.
Headquarters: Oslo, Norway.
Revenue forecast: 1-5 MNOK.
Initially launched as Techracers, Decode is an IT firm that provides blockchain solutions to businesses that seek to solve complex issues and simultaneously helping these businesses to perform with added efficiency and getting overall growth.
Decode provides Software development, Consultancy, Blockchain, Crypto and Application solutions to Start-ups, Enterprises, and labs.
Headquarters: Wilmington, Delaware.
Revenue forecast: $10 M
Chromaway was founded back in 2013 as a blockchain development company that develops blockchain-based platform that functions with private and public sectors to build decentralized blockchain applications like smart contracts for the financial and real estate industries.
Chromaway is best known for developing the Green Asset Wallet which is a platform that connects green investors with potential investment opportunities. The Green Asset Wallet initiative was a gamechanger for achieving the objectives of the Paris Climate Agreement.
Their main service focus is on blockchain as a database, they introduced post-chain, a distributed database management tool with distributed control.
Chromaway provides the following solutions: tokenization, consortium database, blockchain development, digital currencies, and other blockchain-based solutions.
Headquarters: Stockholm, Sweden. Additional offices in Palo Alto and Taipei.
Revenue Forecast: $2 Million
OpenLedger is a Danish-based blockchain company which was founded in 2014 by Ronny Boesing. The company has clients from all over the world and provides these clients with Blockchain-based solutions to grow their businesses and minimize expenses.
OpenLedger develops innovative business tools for its clients based on the revolutionary decentralized network requirements.
OpenLedger provides the following services: Bitshare, Graphene, Bitshare, HyperLedger and also ICO/ITO services like ICO Advisory, ICO Escrow, ICO Marketing, ICO Tech Support and PR.
Headquarters: Denmark. With an alternate location in Belarus.
Revenue forecast: $1.6 Million
Ezetech was launched back in 2015 as a Tech and web development firm. Currently Ezetech provides start-up blockchain projects to non-technical companies.
Based out of New York, Ezetech first began providing IT consulting to New York based non-technical entrepreneurs in New York to help them with technological challenges.
In order to jumpstart the iteration process, Ezetech works with startups or early-stage firms to develop minimum viable products (MVP).
Ezetech provides the following services: tech consulting, hiring service, web development, and MVP development.
Headquarters: New York, USA. Additional offices in New Zealand and Australia.
Revenue forecast: $2.6 Million
Based out of Sofia Bulgaria, Limechain was founded back in November 2017 by four friends with an aim to boost the development in Bulgaria and globally.
LimeChain is a blockchain development firm well known for providing blockchain solutions to startups and corporate businesses.
Limechain has worked with some big company names that include Vaultitude, LockTrip, Propy, Irus.Ai, Arxum amongst others.
LimeChain provides the following services: smart contracts, blockchain development, ICO and Crowd Sale.
Revenue forecast: $1.7 Million
Headquartered, in theUnited States, Chain is a blockchain development company founded back in 2014.
Chain provides stock exchanges, banks and credit card companies with blockchain-based tools to manage and trade their assets securely.
Chain is best known for developing cryptographic ledger systems for financial services providing firms.
Chain partners with big financial companies like Citigroup, Visa, Capital One, Nasdaq, Orange, Fiserv, and RRE Ventures.
The professional team of Chain has developed the sequence ledger-as-a-service that works with the public networks and private ledger to transact tokens securely.
The sequence ledger developed by Chain can also be used for crypto exchange platforms, mobile wallets, ride-sharing apps, virtual transaction machines like TxVM amongst others.
Its other services include the development of blockchain, cryptography, payment systems, distributed system, ledger technology, etc.
Headquarters: San Francisco, USA
Revenue Forecast: $4 Million
The revolutionary blockchain technology certainly makes a case for itself for becoming the next big thing in the technological sector. Blockchain is widely being adopted by businesses of several sectors all the way from banking to agriculture.
The Blockchain companies listed above are the 10 most sought after companies of the blockchain industry. And if you are looking to explore more about blockchain it is a must that you have knowledge of the best blockchain companies.