How to Choose Smart Contract Platforms?

How to Choose Smart Contract Platforms?

Estimated read time: 7 minutes

In this article, we will go through some major points to keep in mind while choosing smart contract platforms. So, let’s see what are these considerations.

Various considerations when choosing a smart contract platform

We just talked about smart contracts and a few popular smart contract platforms. What should you consider when choosing a smart contract platform? Keep the following considerations and questions in mind:

1. The reputation of Ethereum as a smart contract platform

If you need to create a cryptographic token, then you can use a blockchain platform like the Ethereum blockchain network. Vitalik Buterin and his team had created this network. They offered “Ethereum Virtual Machine” (EVM), a Turing-complete system to develop blockchain applications.

The rich ecosystem of this public blockchain network helps developers. This blockchain network uses the “Proof of Work” (POW) algorithm as its consensus mechanism. If you want security via decentralization, then Ethereum is certainly a good choice.

While the 2016 Ethereum DAO (Decentralized Autonomous Organization) hack had raised questions about its security, the Ethereum blockchain did prove its mettle. The DAO smart contract had a bug and not the Ethereum blockchain network.

The Ethereum project team as we know it today had implemented a hard fork to issue refunds. This enhanced its reputation. Many DeFi (Decentralized Finance) ventures use the Ethereum platform.

Ethereum will transition to the “Proof of Stake” (PoS) algorithm in the future. Users can stake their Ethers (ETHs) to become a validator in that network, and the Ethereum project team is working on this. Ethereum will remain secure even after this transition.


Get a complimentary discovery call and a free ballpark estimate for your project

Trusted by 100x of startups and companies like

2. You have a use case that doesn’t require you to create your own token

Some applications of blockchain can do just fine without a cryptographic token. Are you pursuing use cases that require a permissioned blockchain? Perhaps you are developing a supply chain assurance system or other enterprise blockchain applications? This kind of blockchain application doesn’t need a cryptographic token.

As we had explained in our blockchain project planning guide, you should use an Enterprise blockchain. You could use Hyperledger Fabric. Are you pursuing a FinTech-specific use case? Quorum, an enterprise blockchain platform can help. JP Morgan had developed it. ConsenSys, a blockchain software technology company has acquired it in 2020.    

3. The long-term prospects of the EOS blockchain network

The EOS blockchain network had promised a lot. As a result, some entrepreneurs and developers consider it for smart contract development.

However, some experts have found drawbacks in the EOS network. ConsenSys has conducted a benchmarking exercise on the EOS network in 2018. It found that the “Delegated Proof of Stake” (DPoS) consensus algorithm used in this network has security flaws.

The report from ConsenSys states that EOS has performance issues. Finally, the report states that the EOS network is vulnerable to manipulation by centralized cartels. We recommend you analyze security and performance-related risks carefully before using EOS.

4. The promises of Cardano, a next-generation smart contract platform

You might have read a lot about the promises of Cardano, a new entrant in the landscape of smart contract platforms. Should you use it? It offers the following advantages:

  • The project team has learned lessons from earlier blockchain networks about handling digital assets better.
  • Cardano maintains two separate layers for transactions and computation, which should offer more scalability.
  • The POW consensus algorithm involves huge electricity costs, however, PoS is a low-cost consensus algorithm.
  • A non-profit foundation runs the Cardano project, and it collaborates with academic institutions for research and development. We can expect Cardano to deliver what it promises.

Note that the development roadmap of Cardano is a bit long. Keep this in mind when you evaluate this platform for your project.

5. How suitable is NEO as a smart contract platform?

You might have considered NEO for your smart contract development requirements. This Chinese blockchain platform does not have its own smart contract language. It allows you to use several popular programming languages. This eliminates the need to learn a proprietary programming language like Solidity for smart contract development.

Hire expert developers for your next project

62 Expert dev teams,
1,200 top developers
350+ Businesses trusted
us since 2016

NEO uses a “Public Key Infrastructure” (PKI) for digital identity, furthermore, it promises a higher transaction throughput. These are advantages.

However, NEO could be influenced by the Chinese government. At the time of writing, the developers of this platform control about half of all the cryptographic tokens in this platform. This points to centralization. These create questions about the long-term prospect of NEO. Think carefully before you choose this platform.

6. Should you use the RSK smart contract platform in your project?

Rootstock (RSK) is a smart contract platform that’s connected to the Bitcoin blockchain. This platform uses the “sidechain” technology, therefore, it doesn’t cause congestion in the Bitcoin network.

RSK uses the security mechanisms of Bitcoin, which is the most secure blockchain network. It can execute Ethereum smart contracts. Developers can code smart contracts using Solidity, the popular language of Ethereum.

If you have Ethereum smart contract developers in your team, then you can use RSK without hiring new developers. You certainly can use the RSK smart contract platform in your project.

Planning to Choose a Smart Contract Platform for your Blockchain Solution?

As you may have understood by know the scope and objective of your blockchain application will guide you when choosing from smart contract platforms for blockchain development.

The process would be a lot easier for you if you have professional blockchain developers in your team who have experience in using a number of these smart contract platforms for building market-competitive distributed ledger technology applications.

Read our guide here to get an idea of what skills such as proficiency in programming languages, software development kits, frameworks, etc. would you require from your blockchain developers team.

Hire expert developers for your next project

Trusted by

If you feel your software development team lacks these skills then we would advise you to partner with a reputed software development company.

DevTeam.Space can help you here as its field-expert blockchain developer community has experience in building numerous blockchain solutions. Write to us your initial smart contract implementation requirements via this form and one of our technical managers will get in touch with you to discuss further details.

Frequently Asked Questions

1. What is a good smart contract platform?

Ethereum is regarded as the popular smart contract platform for implementing and deploying smart contracts for general use cases. It can be easily used for a range of blockchain technology applications from ICO to decentralized applications for trade finance, etc.

2. What are smart contract platforms?

Smart contract platforms facilitate, verify, and execute smart contracts. They provide the basis of blockchain smart contracts by assisting in smart contracts programming, testing, deployment, and hosting. They add the inputs and outputs of smart contracts to the blockchain network.

3. What are some examples of smart contracts platforms?

Hyper ledger fabric, waves, Neo, etc. are some commonly used top smart contract platforms.

Learn more about blockchain development from our expert articles:

  1. Where to Hire Blockchain Developers in 2024
  2. What is Blockchain Used for?
  3. What Are the Best Blockchain Network Hosts in 2024?
  4. How to Conduct Ethereum App Development
  5. How Blockchain Technology Ensures Network Security
  6. What technologies do blockchain developers use?
  7. What are smart contracts in Blockchain Networks?
  8. What is a Blockchain Smart Contract Audit?
  9. How To Build Real Estate Blockchain Projects
  10. How to Build a Blockchain Social Media Platform for Bloggers?
  11. How to Build a Blockchain Music App?
  12. How to Implement Blockchain in Education Sector?


Alexey Semeney

Founder of DevTeam.Space

gsma fi band

Hire Alexey and His Team To Build a Great Product

Alexey is the founder of DevTeam.Space. He is award nominee among TOP 26 mentors of FI's 'Global Startup Mentor Awards'.

Alexey is Expert Startup Review Panel member and advices the oldest angel investment group in Silicon Valley on products investment deals.

Hire Expert Developers

Some of our projects

NewWave AI



United States

All backend All frontend Design WordPress

A website to publish AI research papers with members-only access and a newsletter.




FL, United States

Android iOS Java Mobile PHP Web Website

A complete rebuild and further extension of our client's web and mobile shipping system to allow it to serve 28 countries.

Keep It Simple Storage


Public Storage

United States

All backend Devops IoT Mobile Web

A B2B2C solution with Web, Mobile, and IoT-connected applications that aim to revolutionize the public storage industry.


Read about DevTeam.Space:


New Internet Unicorns Will Be Built Remotely


DevTeam.Space’s goal is to be the most well-organized solution for outsourcing


The Tricks To Hiring and Managing a Virtual Work Force

Business Insider

DevTeam.Space Explains How to Structure Remote Team Management

With love from Florida 🌴

Tell Us About Your Challenge & Get a Free Strategy Session

Hire Expert Developers
Get a complimentary discovery call and a free ballpark estimate for your project

Hundreds of startups and companies like Samsung, Airbus, NEC, and Disney rely on us to build great software products. We can help you too, by enabling you to hire and effortlessly manage expert developers.