Public blockchains triumph as Ethereum emerges as the number one platform of choice

Insights from a selection of leading service providers in 2020 told us that the blockchain platform choice for enterprises had emerged as a two-horse race, with Hyperledger Fabric taking the top spot. However, as we near the release of the 2021 Enterprise Blockchain Services Top 10, we have re-assessed the platform landscape and seen Ethereum emerge as the platform of choice. This suggests a pivot toward public blockchains, something EY has predicted for years, and means we could soon see a range of collaborative use cases emerge.

Throughout our conversations with leading service providers, we recognized quickly that many providers were starting to favor public blockchains, particularly to underpin collaborative ecosystems. The data reflects this, too, as Ethereum leapfrogged Hyperledger Fabric to emerge as the number one platform of choice in 2021.

Hyperledger Fabric saw the biggest drop in market share over the last year. Service providers explained that its modular architecture results in tedious deployment, configuration, and maintenance.

While providers cited R3 Corda’s ease of use and rapid deployment, it saw a reduction in market share last year. Providers explained that its banking and financial services focus meant there were better options for engagements in other industries.

An increasing number of engagements leverage Quorum. Providers tell us its high performance and ability to run private transactions are key platform strengths.

The Bottom Line: Enterprise leaders must not discount public blockchains despite privacy and security concerns as they continue to grow in favor and facilitate collaborative business.