Even before it was used in cryptocurrency, blockchain existed as a concept in computer science. The hash tree or Merkle tree, which Ralph Merkle patented in 1979, was the first form of blockchain. It worked by validating and transferring data between computer systems.
The tech sector has discovered numerous blockchain applications in finance and other critical industries. Blockchain distributed ledger technology can be used to improve data management transparency and reduce fraud.
It enables all customers to gain access to a cloud-based solution, build, host, and use their own blockchain apps, smart contracts, and other functions on the blockchain system, while the blockchain company manages all activities associated with maintaining the functionalities.
The most popular Blockchain Technology Companies and Blockchain Service Providers are listed below:
ScienceSoft — with 32 years of custom software development experience, provides end-to-end development of custom blockchain solutions, including smart contracts, private blockchain, blockchain wallets, and dApps and DAOs.
Using Ethereum, Graphene, and Hyperledger, the company assists customers in automating, securing, and improving business processes such as supply chain and asset management, trade and cross-border payments, document and claims management, identity management, and customer experience management, among others.
ScienceSoft’s blockchain offering, in addition to custom development, includes blockchain consulting (including TCO calculation, architecture design, security consulting, and so on) and integration of blockchain apps or their components.
Ripple Labs Inc.
Ripple Labs Inc., founded in 2012 by Brad Garlinghouse, is an American fintech company that developed the Ripple protocol and exchange platform, which provides cross-border payment solutions using blockchain technology. Ripple’s decentralized financial tools enable a seamless cross-border payment processing experience.