Because blockchain technology is decentralized and always changing, it is challenging to pinpoint the precise number of blockchains that are now in use. Nonetheless, there are thousands of blockchains in existence, and new ones are constantly being developed for a range of applications. These fall into the following general categories:
1. Open Blockchains
Anyone can participate in these blockchains without needing authorization. They usually have their own native coins and are decentralized. Several popular public blockchains are as follows:
Bitcoin (BTC)
Ethereum
Solana (SOL)
Cardano (ADA)
Polkadot (DOT)
BSC, or Binance Smart Chain
These public blockchains are among the biggest in terms of market valuation and usage, and each has its own ecosystem.
2. Private Blockchains
A central authority or a collection of organizations with authorization to access and validate the blockchain are in charge of private blockchains, also known as permissioned blockchains. They are increasingly prevalent in business solutions where control and secrecy are crucial. Among the examples are:
Hyperledger Fabric (used by companies for logistics, supply chain monitoring, and more)
R3 Corda, which focuses on trade and financial institutions
Quorum, which was first created by J.P. Morgan
3. Blockchains for Consortiums
These are a cross between public and private blockchains, with the consensus process being managed by several entities. Businesses and industries that need to collaborate but still need some degree of anonymity frequently employ consortium blockchains. Among the examples are:
Energy Web Chain with an emphasis on the energy markets
IBM Blockchain (using Hyperledger Fabric as its foundation)
4. Layer-2 Blockchains and Sidechains
To increase scalability and transaction speed, several distinct blockchains are connected to a main blockchain (such as Ethereum or Bitcoin). For instance:
Ethereum’s Layer-2 scaling solution, Polygon
Liquid Network (Bitcoin sidechain)
5. Blockchains on Testnets
Additionally, there are a lot of testnets (test networks) that are mostly used for experimentation and development. Before putting their apps on mainnet blockchains, developers utilize them to test them in a secure setting.
6. Blockchain-Based Platforms for Particular Applications
Apart from the well-known public blockchains like Ethereum, a lot of blockchain projects are developed for specific uses like enterprise solutions, scalability, or anonymity (like Monero or Avalanche). There are even more blockchains overall because these initiatives frequently have their own blockchains.
Calculating the Total Number of Blockchains
Although the exact number is unknown, there are undoubtedly hundreds of blockchains in use today. More than 8,000 cryptocurrencies are listed by well-known blockchain explorers and websites that monitor blockchain networks, including CoinMarketCap, CoinGecko, and State of the DApps. Many of these cryptocurrencies are supported by their own distinct blockchains. Additionally, a large number of private and commercial blockchains contribute to the total even if they are not publicly reported.
Factors Affecting Blockchain Development
New blockchains are constantly being developed as a result of the growth of decentralized financing (DeFi), non-fungible tokens (NFTs), decentralized applications (dApps), and institutional interest in blockchain technology. The number of blockchains is probably going to continue to rise as technology advances and the need for more specialized blockchains rises.
In conclusion
Although the precise number is difficult to determine, estimates indicate that there are probably thousands of blockchains in use today. Public, private, and permissioned blockchains all have distinct uses in various industries, demonstrating the diversity of the blockchain ecosystem. The number of blockchains will probably keep growing as blockchain technology advances, further decentralizing the digital economy and opening up new opportunities across a range of industries.