The second type of blockchain projects is platforms.

The primary function of platform projects is to build a technical infrastructure, providing developers a platform that satisfies the technical requirements needed to build blockchain applications. It allows developers to issue tokens on the blockchain and writing smart contracts etc.

Smart Contracts involve computer codes running on top of a blockchain and self-enforced when the conditions set are fulfilled.

For example, a smart contract for a rental agreement is written onto the blockchain. When the landlord receives the rental payment, the contract self-executes and passes the apartment’s key to the tenant. A considerable number of such platforms are in the midst of development.

As of January 2018, the platform with the highest market capitalization is Ethereum.

Posted by Huobi Blog