The Bitcoin blockchain is the pioneer of blockchain technology, developed in 2009 by an anonymous figure known as Satoshi Nakamoto. It is renowned for its decentralization and censorship resistance, primarily used for recording and transacting in the cryptocurrency Bitcoin. The Bitcoin blockchain employs a Proof-of-Work (PoW) consensus mechanism, ensuring network security and transaction transparency. Bitcoin’s scarcity and widespread market acceptance have made it a digital gold, widely used for value storage and large transactions.
Ethereum Blockchain
Ethereum is the second-largest blockchain platform, launched in 2015 by Vitalik Buterin. It not only serves as the foundation for the cryptocurrency Ether (ETH), but more importantly, it supports smart contracts—self-executing contract codes that are widely used for decentralized application (DApps) development. Through these smart contracts, Ethereum has driven the growth of decentralized finance (DeFi) and non-fungible tokens (NFTs). Ethereum is currently transitioning to Ethereum 2.0, adopting a Proof-of-Stake (PoS) consensus mechanism to enhance network scalability and environmental sustainability.
Polkadot Blockchain
Polkadot is an emerging blockchain platform introduced by Ethereum co-founder Gavin Wood in 2020. Polkadot’s core innovation lies in its cross-chain interoperability, allowing different blockchains to exchange data and assets securely and seamlessly on the Polkadot network. Its unique “relay chain” and “parachain” architecture solve the isolation problem between blockchain networks, providing greater flexibility and scalability for decentralized applications. Polkadot uses a Nominated Proof-of-Stake (NPoS) consensus mechanism to ensure network security and decentralization.
These three major blockchain platforms represent distinct directions and technological strengths: Bitcoin as a store of value, Ethereum for smart contract applications, and Polkadot for cross-chain interoperability, all of which have driven the global adoption and application of blockchain technology.