Which Are The Top 5 Smart Blockchain Based Smart Contract Platforms?

Smart contracts aid the effective exchange of shares, property, money or any other item of value in a conflict-free and transparent way – one in which the services of middlemen are unnecessary.

Think of the regular vending machine we find almost everywhere – this is a simple but effective example of how a smart contracts work. You pick what you want, put in your money and out comes your protein bar. If you were to go to a regular store, you’ll have to interact with the cashier at the checkpoint. This also applies with most valuable exchanges in life. You’ll have to visit a lawyer or a notary, pay their fee and have them give you a document. This isn’t necessary with smart contracts.

As applies in traditional contracts, there are rules, agreements and penalties in smart contracts, however, unlike the traditional methods; the penalties are automatically meted out to defaulters. There are many smart contracts on offer and it can be a little confusing to settle for one, especially if you are relatively new to crypto investments. Well, we’ve listed our top 5 blockchain based smart contracts platforms below:


In very simple terms, Ethereum is a blockchain based open software platform capable of giving developers the ability to build and deploy a decentralized application. Sound like a lot of mumbo-jumbo but wait, I’ll explain further. Before Ethereum, Blockchain applications were only able to perform only one set of operations cryptocurrencies like Bitcoin were initially designed to operate only as peer-to-peer digital currencies.

Ethereum, on the other hand, allows people to run different programs on its Virtual Machine (EVM), irrespective of the language, as long as there is enough memory and time. EVM makes it easier to create blockchain apps. Ethereum makes it possible to develop up to thousands of applications on one platform instead of having to build a completely new application for each.

With the aid of Ethereum, you can decentralize any centralized service. Imagine the number of intermediary services that exist across all the industries such as the very popular ones like bank loan services to the less popular ones like regulatory compliance, voting systems, title registries etc.


NEM is a blockchain based, decentralized peer to peer network conceptualized in January 2014 and launched in March 2015. On this platform, third parties have the opportunity to build applications such as crowdfunding tokens and cryptocurrencies. NEM has both private and public blockchains.

NEM uses proof-of-importance consensus rather than proof-of-stake or proof-of-work and this distinguishes it from other blockchains. Proof of importance means that the verification of transactions on the NEM network is based on comparative importance and this is determined by the proof-of-importance algorithm.

Proof-of-importance like the proof-of-stake has saved a lot of energy, unlike the proof-of-work consensus as each transaction on the Nem network is completed with one hundred times less power than used on the Bitcoin network.

NEM’s next-gen blockchain also has other benefits like; multi-signature accounts, mosaics, privacy, messaging, scaling and the fact that practically every member of the NEM community can suggest updates and developments. $XEM is cheap and easy to transfer. It has a 0.1% as transaction fee i.e. it would cost you only $0.2 to transfer $200 worth of $XEM.


The influence of Asia on the global crypto market is cannot be understated. Their importance lies not only in their buyer population, but in the quality and quantity of new blockchain projects springing up from there and NEO is one of the most recognized blockchain projects in all of China and Asia. NEO as a platform offers the opportunity to execute trustless smart contracts. This implies that much like Ethereum, in addition to being used for financial dealings, it can also be used as a platform for more complicated transactions. It is often referred to as China’s “Ethereum Killer”

But, there are certain important features that distinguish it from Ethereum.

  • NEO makes it easier for developers to write languages that are already known so NEO’s smart contracts are a lot easier to write
  • NEO makes use of a proof-of-stake system with delegated Byzantine Fault tolerance (dBFT) instead of the power-hungry proof-of-work consensus algorithm that Bitcoin and Ethereum use.
  • There are 2 tokens on the NEO network; NEO (which is the main token on the platform) and GAS which is an automatic creation that comes about when NEO is held in an officially-approved wallet – it can also be used for transactions on the NEO network too.

A platform is only as strong as its ecosystem and the NEO dApp is very user-friendly.


If you are a regular visitor to the CoinMarketCap site, you may have noticed that a relatively new or unknown coin sneaks its way into the top ten every now and again. Well, that’s Cardano and although it has been live for only a couple of months, it’s market cap is already close to $3billion.

Cardano too has been labeled an “Ethereum killer,” as it is quite similar to Ethereum. Like Ethereum, Cardano’s platform has a cryptocurrency (ADA) and makes it possible to execute smart contracts. Also, one of its founders was once the CEO of Ethereum.

As expected, Cardano has some features that differentiate it from Ethereum and other smart contract blockchains. Firstly, it claims to be the first blockchain project built on peer-reviewed research. Apart from its whitepaper, the developers behind Cardano have also published as much as 5 peer-reviewed scientific papers on the technology associated with it and these papers are readily available and accessible.

Another amazing feature is that the company has plans to issue debit cards. Users will have the opportunity to fund this card from their online wallet and this card can be used to shop almost everywhere. The charges will be done immediately using the ADA/ fiat exchange terms.

The Ouroboros, which is Cardano’s proof-of-stake extracting algorithm, is another feature that sets it apart from Ethereum. It eradicates the need for the power-hungry proof-of-work algorithm that Ethereum uses that consumes approximately the same amount of electricity as a small country. Ouroboros is based on peer-reviewed academic research, unlike other proof-of-stake systems. This approach is as safe as the proof-of-work systems but consumes a lot less power.


I must first point out that Hyperledger isn’t a software but a project framework that is administered at the Linux foundation. If you create a blockchain project that you think stands out, you submit to the Linux foundation and if it gets their approval, it goes into incubation in the Hyperledger project.

Serving as a trusted source of innovative, quality-driven open source software development community is the most valuable role played by the Hyperledger Project. It is a modular open source platform that focuses on smart contract technologies and distributing ledgers. It’s safe to say they have a bright future ahead of them, after all; they’ve been able to create a brand widely accepted as the default platform for the deployment of enterprise teams.


  • Helen Pegg April 2018 - Reply

    Each Smart Blockchain situation is individually unique. So we should always consult a qualified professional before making any financial decisions.

    • Christopher Perry June 2018 - Reply

      You got that right. There is a lot to say about getting all of your information right before you bring your wallet into the mix. Articles like this are a great way to be informed.

  • John April 2018 - Reply

    Eliminating the middleman should be the goal in any transaction. So much money and time is lost because we have to go through that extra set of hands. I’m glad smart contracts are here to ease the whole process for people using cryptocurrencies. I like Ethereum as I’ve used it but I will have to take a look at the others as well.

    • Owen June 2018 - Reply

      Agreed. The middleman only increases prices and brings almost nothing to the table so whenever possible we should aim to eliminate it. I would go with Ethereum right now as it seems like a solid choice.

  • Frederick Moore April 2018 - Reply

    I have been reading a lot about the Smart Contracts lately. It seems that one of the options you have listed here, Cardano (ABA), is really looking good on that front. Besides having features like that in place for merchants and payment systems, it is nice to see a good, secure cryptocurrency.

  • Dane Hoey April 2018 - Reply

    Smart Contracts are huge and are going to change up the cryptocurrency market for good. It will be nice to see the companies that come out on top and back these types of solutions up right from the beginning. Cardano is a big one that is likely to gain the most from offering these and it will be fun to watch the value take off when they are accepted more widely.

  • Avery May 2018 - Reply

    I particularly like Ethereum and NEM as I see them growing very, very much in the next years. I have a feeling these 2 are going to shape the whole market and thus I would be investing in them.

  • Howard R. May 2018 - Reply

    NEM and NEO sound great. For things like this, I think it’s best to eliminate the middleman so companies that allow that in a safe and reliable way are always appreciated. I can see many of these platforms growing in the near future.

  • Reed Davis May 2018 - Reply

    Smart contracts are where the value of Blockchain technology lies in my opinion. I’ve done some research into this area and the five platforms you mentioned are the first that came to mind for me as well. Take a look if you’re new this area.

  • Cheryl Costello June 2018 - Reply

    I think part of the reason that Cardano is doing as well as it is has a lot to do with the Smart Contracts. Some of the older coins that are not up to speed on those contracts are falling behind quickly as consumers move towards the coin with more features.

  • Ethan Martinez July 2018 - Reply

    More and more I am seeing these platforms being used. Some are easier to use than others, that is for sure. Great information!

  • Oliver Williams July 2018 - Reply

    Smart contracts platform is a great way to streamline and keep unwanted interactions to a minimum. I can see this growing popular.

  • Ben Amstutz July 2018 - Reply

    Not having a middle man can be nice but not at safe at times. These are great ways to stay safe even with out one! Thanks!

  • Josh Sprunger July 2018 - Reply

    Thanks for the easy read. You really know a lot about the subject and I appreciate that! Cardano really seems to be upping the game. It has exploded in the market recently.

  • Janelle Henson August 2018 - Reply

    I think smart contracts are the future. It’s such an important area for Blockchain technology. I’d love to see it utilized with common, everyday transactions between consumers.

  • Aizah Bowler August 2018 - Reply

    There are so many smart contract platforms. It’d be wise to do your research before jumping into anything here. Perhaps I’m overly cautious.

  • Bernice September 2018 - Reply

    NEO works great! I always love using it.

  • Zaynab September 2018 - Reply

    Thanks for all of this great information.

  • Richard Warner November 2018 - Reply

    It seems like you have a couple on this list that are in the top 10 cryptocurrencies in the world right now. Smart contracts might not be what separates one from another, but the feature is one that is highlighted when consumers are looking for investments that makes sense.

  • Molly Redington November 2018 - Reply

    There is little doubt that Cardano is one that you have to keep an eye on. Just talking about “killing Ethereum” is one thing. The cryptocurrency is taking over the market!

  • Woodrow Guthrie November 2018 - Reply

    Great list! Very helpful to see some of these “coins” compared once in a while!

Leave a reply


Know exactly how your cryptocurrency portfolio is doing, anytime!

Why live in suspense when you can have clarity?

No surprises. Only clarity on how your crypto Altfolio is performing.

We make it easy for you to track your crypto currency investments.