So, you’re convinced that Web3 holds the key to more efficient, secure, and patient-centred healthcare. The big question is: Which blockchain do you choose? From public chains like Ethereum to private and consortium options, the choice isn’t as simple as it first appears.
This guide explores the potential of different blockchains for HealthTech, including the emerging options of Sui, Solana, and NEAR Protocol. These platforms are designed to address the unique needs of HealthTech innovators, offering scalability, security, and ease of development.
Public Blockchains: Maximum Decentralisation
Public blockchains, such as Ethereum, are open networks where anyone can read and validate transactions. This fosters trust because no single party has control.
Pros:
- Robust developer communities.
- High security through decentralisation.
- Large existing ecosystem of decentralised applications (dApps).
Cons:
- Transaction fees (gas) can spike unpredictably.
- Slower speeds, though layer-2 solutions (like Polygon) can help.
- Privacy challenges, since on-chain data is publicly visible.
- Best for: Tokenised incentives or research programmes where transparency is paramount and wide participation is encouraged.
Private Blockchains: Keeping Data In-House
Private blockchains are controlled by a single entity—like a hospital group or insurance provider. Only authorised users can read and write to the ledger.
Pros:
- Greater privacy and direct control.
- Potentially faster transaction speeds and lower costs.
- Easier to comply with healthcare regulations, as participant access can be carefully managed.
Cons:
- Less trust from outside parties, since it’s centrally governed.
- Smaller pool of developers and fewer integration options.
- Single point of authority could lead to disputes if transparency is lacking.
- Best for: Internal hospital data management, where sensitive patient information must be tightly secured and not publicly visible.
Consortium Blockchains: Collaborative Governance
Consortium blockchains occupy the middle ground. Multiple organisations share control, making governance more democratic than a private chain.
Pros:
- Greater trust than private systems, as no single organisation has total control.
- More privacy than public blockchains, since members are vetted.
- Encourages industry-wide collaboration and standardisation.
Cons:
- Complexity in establishing governance rules among members.
- Smaller ecosystem compared to public networks.
- Requires strong coordination to maintain consensus on decisions.
- Best for: Multi-stakeholder projects, such as a network of hospitals, insurers, and research institutions sharing data or collaborating on clinical trials.
Emerging Platforms for HealthTech Applications
When choosing a blockchain for HealthTech, focus on platforms that provide scalability, developer support, and integration-friendly ecosystems.
Sui Blockchain:
- A Layer-1 blockchain using the Move programming language, offering high throughput and low latency.
- Its object-centric model allows parallel transaction execution, making it ideal for processing large datasets in HealthTech.
Solana Blockchain:
- Known for high-speed transactions (up to 65,000 per second) and low fees.
- Utilises Proof-of-History (PoH) and Proof-of-Stake (PoS), ensuring scalability and security.
- Well-suited for complex HealthTech dApps requiring fast processing.
NEAR Protocol:
- Designed for Web2 developers transitioning to Web3, NEAR allows building decentralised applications using familiar programming languages.
- Features include seamless integration of AI agents and blockchain, making it attractive for creating innovative HealthTech solutions.
Factors to Weigh When Choosing a Blockchain
- Scalability: Will you need to handle thousands of transactions per second? If so, consider layer-2 solutions or platforms like Solana and Sui.
- Privacy & Compliance: Healthcare data is sensitive, so permissioned or consortium chains often fit better.
- Ecosystem Support: Public chains like Ethereum boast extensive developer communities and tooling, speeding up development.
- Cost & Governance: Public blockchains may incur high transaction fees. Private or consortium chains require continuous governance and maintenance.
Best Practices for Adoption
- Start with Pilots: Test concepts on a small scale using a testnet or local blockchain deployment.
- Engage Stakeholders Early: If you opt for a consortium, ensure that all parties understand their roles and responsibilities from the outset.
- Plan for Growth: Whether you choose private or consortium, consider how you’ll expand to accommodate more users or even integrate with a public chain later on.
Finding the right blockchain for your HealthTech solution requires balancing privacy requirements, scalability needs, and the desire for a trusted network. Emerging platforms like Sui, Solana, and NEAR Protocol offer promising alternatives to traditional blockchains, enabling developers to build innovative, secure, and user-friendly applications. By evaluating your project’s specific needs and involving key stakeholders early, you can set the foundation for success in the evolving world of Web3.
