March 20, 2023

Blockchain Development Platforms - Challengers and Leaders

The Balance Ecosystem encompasses a wide range of innovative products and developments in various DeFi and Web3 technology areas.
Balance is poised to build bridges between the theoretical and practical sides of finance so that there is a means in which we can provide real-world solutions and create value driven products within the web3 space.

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Blockchain development platforms are software frameworks that enable developers to create and deploy decentralized applications (DApps) on a blockchain network. These platforms provide a set of tools, libraries, and protocols that enable developers to build, test, and deploy blockchain-based applications quickly and easily.

Additionally, blockchain development platforms provide developers with access to pre-built components, such as smart contract templates, APIs, and SDKs, which can help speed up the development process. This allows developers to focus on building the unique features of their application, rather than spending time on mundane tasks like setting up the blockchain network.

In this article, we present the popular and up-and-coming projects and startups focussing primarily on development platforms for blockchains.

Kenshii is a  full-stack application development platform for decentralized applications on all EVM-chains that enables fast product development on Ethereum, Aurora, Avalanche, Bitgert, BNB Chain, Fantom, Polygon and more.

Kenshi enables two-way communication to and from the blockchains so developers can index and query data from the blockchain as well as deliver any data to the blockchain. This allows projects and developers to innovate and create real-world use cases, like smart contracts interacting with web2 applications, machines and IoT devices outside the blockchain.

At the time of writing, Kenshi provides the three key services.

Deep Index

Developers can sync to retrieve, store, and index data from the blockchains. They can also query and search the indexed data using MQL or GraphQL for the dApps. Finally, Deep Index provides notification features about new blockchain events on HTTP endpoints. Learn more about these services by reading the documentation.

Use GQL client to fetch data.


Kenshi IoT SDK allows using the Kenshi Deep Index service on embedded devices. Using this library developers can receive and process blockchain events on any supported embedded device.

Oracle Network

Kenshi has built a high-performance asynchronous oracle network for hosting custom oracles. This network will let developers develop their own oracles using the tools and technology their are most familiar with. Developers can get started with a price oracle, weather oracle, proof of balance oracle, and more with Kenshi’s oracle blueprints.  Kenshi also offers to build a verifiable random function oracle for dApp or smart contract


Blockchain-based platform for application development. It offers Polygon, a protocol, and a framework for building and connecting Ethereum-compatible blockchain networks. It combines the Ethereum and sovereign blockchains into a multi-chain system enabling scaling of the Ethereum blockchain.

Polygon offers public chains, app-specific chains as well as decentralized identity solutions to developers around the world.

Public Chains

Polygon POS supports the most widely used Ethereum scaling ecosystem that offers EVM compatibility and an ultimate user experience with fast transactions at near-zero gas fees today.

Polygon zkEVM unlocks Ethereum scalability while maintaining security with the first ZK-rollup that offers EVM equivalence with fast transactions at near-zero gas cost today.

App Specific Chains

With SuperNets, build app-chains powered by an industry-leading technology and ecosystem around Polygon. This feature is coming-soon.

Decentralized ID

Polygon ID allows developers to build trusted and secure relationships between users and dApps, following the principles of self sovereign identity and privacy by default.


Figment is a blockchain-based application development and governance platform for developers. It features tools and software for developing apps for custody of tokens, Figment Prime for token holders, governance for growing communities and groups of stakeholders, and private nodes for business clients. Also, provides a datahub for user guidance and a learning platform for new users.

Figment offers staking and API support for all major protocols. Available via the Figment Staking App or via API that hooks directly into client platforms, offering portfolio tracking across multiple networks and rewards optimization.

Figment provides three key services.


Figment offers the most comprehensive staking solution for our over 200+ institutional clients including exchanges, wallets, foundations, custodians, and large token holders to earn rewards on their crypto assets.


Figment suite of API’s enables exchanges, custodians, wallets and FinTechs to easily add end-to-end staking to their platforms and end users.


Figment Capital offers seed funding and growth support to new, highly innovative Proof-of-Stake blockchains.

Special Mentions

R3, Hyperledger Fabric, Blockstream’s Elements and EOSIO.