Blockchain technology has already survived the period of formation, hype, and development. It has faced dramatic falls and seems to have entered the phase of practical understanding.

It is a mistake to think that blockchain is universal, capable, and problem-solving. The mass closure of ICO projects that raised considerable funds during 2017 is further proof of this.

2. When is Blockchain Justified?

2.1. Key Advantages and Disadvantages

First, let's look at the key advantages, disadvantages, and applications of blockchain technology. People often mention "decentralization," but what does it actually mean?

Modern blockchain is software, installed, and protected across multiple computers. This is fundamentally different from centralized systems, where you only need access to one account to change data.

2.2. Security Risks and Network Trust

Blockchain is applicable when there are a number of participants, interactions, and untrusted environments. These may include competing companies, individuals, or branches of a large company.

Such networks can be truly unsinkable, protected, and independent. The more diverse the protection, the more secure the blockchain.

2.3. Weak Points in Blockchain Systems

If you design your system to include rescuers, engineers, and controllers, you expose a weak point. A single attack on these could compromise the entire system.

If you are willing to sacrifice, secure, and protect administrative functions, the next question is: "Are you willing to pay for every transaction?"

2.4. Transaction Fees and Costs

Free transactions allow any network participant to fill, replicate, and overload the blockchain with useless information. Without cryptocurrency, transaction fees, and execution restrictions, a secure blockchain for public networks cannot be built.

Problems with transaction payment are solved with functionality, limitations, and payment options. However, system owners must still deal with commissions for each transaction.

2.5. Ownership Transfers in Blockchain

The next criterion is: “Does the business model involve mutual settlements, transfer, and ownership of digital assets?”

Blockchains allow digital, information, and ownership transfers from one blockchain account to another. It operates similarly to a bank balance, securing transactions and value transfers.

If your project involves exchanging, values, and ownership, blockchain can be a great hack-resistant foundation.

3. Public or Proprietary Blockchain?

3.1. Public Blockchains

To work in public, blockchains, and networks, you only need service code and smart contracts. These are cheaper than traditional databases, as they eliminate the need for renting servers and securing user accounts.

The disadvantages include fees, processing speed, and limited scalability. There is no existing solution that allows processing multiple transactions in parallel for tens of thousands of users.


3.2. Proprietary Blockchain

An alternative to public blockchains is launching a proprietary, custom, and self-managed blockchain. However, this requires extensive technical and financial investment.

Development involves testing, launching, and updating networks. Since development is public, the code must be high-quality and undergo audits by independent teams.

Read more Public, Private, or Alliance Chains


4. Existing Solutions

4.1. Ethereum-Based Networks



Ethereum is the most mature, universal, and successful blockchain solution. It supports large-scale cryptocurrency operations and smart contract automation.

Ethereum offers security, flexibility, and migration capabilities. Users can migrate data and smart contracts between networks with ease.

4.2. EOS-Based Networks

EOS is a fast, scalable, and efficient blockchain. It allows writing smart contract systems of any complexity and has a convenient account system.

EOS is sometimes called the "Chinese Ethereum" because most of its validators and users are based in China. It supports financial, gaming, and decentralized applications.

4.3. Hyperledger for Enterprises

The Hyperledger family is corporate-focused, private, and secure. These projects do not have an internal economy and are mainly used for document flow in large companies.

Hyperledger is beneficial for logistics, equipment tracking, and service operations. It helps secure specialized logistics and internal documentation.

4.4. Parity Substrate & Cosmos SDK

Parity Substrate is a framework, modular, and flexible tool for building blockchains. It allows developers to create blockchains quickly with custom logic.

Cosmos SDK is a similar, powerful, and developer-friendly tool for creating Tendermint-based blockchains. It provides a large number of pre-built software modules.



4.5. Other Emerging Blockchains

New blockchains often solve, improve, and enhance existing issues. However, they come with risks due to untested code and uncertain business models.

Despite the risks, new projects like Near Protocol, NuCypher, and Coda are working on improving blockchain scalability and security.

Read more Top 10 Best Blockchain Development Platforms in 2025

5. Conclusion

The choice of blockchain is currently limited, focused, and specific. The most popular blockchains include Ethereum, EOS, and Hyperledger, alongside tools like Substrate and Cosmos SDK.If your project requires public, secure, and stable networks, Ethereum and EOS are the best choices. These solutions allow businesses to focus on logic, interfaces, and auxiliary services.

If you opt for a custom, independent, and private blockchain, be prepared for significant costs. Maintaining a proprietary blockchain requires continuous updates, audits, and extensive development resources.Blockchain technologies are complex, costly, and nuanced. A well-thought-out strategy is essential to determine the feasibility and practicality of blockchain for your project.