1. Understand your business needs: Before selecting a blockchain platform, you must clearly understand the needs of your business. Consider the specific use case you are trying to solve and how blockchain may help to facilitate this.
2. Evaluate Platform Security: As blockchain platforms store large amounts of precious data, it is important to assess the security features of each platform. Look at the security architecture of the platform, including network security mechanisms and cryptography protocols.
3. Look at Performance: Performance is another key criteria when selecting a blockchain platform. Ensure that the platform can process transactions quickly and securely. Check the latency and transaction times.
4. Consider Open Source Vs Closed Source: Decide if you want an open-source platform or closed-source platform depending upon the level of customisation and control you require.
5. Identify Scalability Requirements: Make sure the platform can scale according to your needs. Check if it has the capacity to handle increasing numbers of transactions and data.
6. Understand the Cost Structure: Choose a platform that fits into your budget. Understand the different costs associated with the platform such as licence fees and maintenance costs.
7. Check Third-Party Integrations: Look for a platform that integrates with other third-party systems easily for seamless operation.