#6: FANTOM (FTM)
Works on the Proof of Stake (PoS) protocol.
Fantom (FTM) differs from the others in that it uses a DAG system, which is not actually a blockchain, since a blockchain contains blocks and each block contains data. However, each block must have one block before it and one block after it, so that it links into a chain. In a DAG, there are a bunch of computers on the network and they all “chat” in a way about the transactions they have with nearby computers. They constantly communicate with this method.
The Fantom Network (FTM) is very fast, capable of up to 4,500 transactions per second, including both basic transactions and smart contracts. The important thing is the completion of the transaction, when the block is actually confirmed (for Bitcoin it is about an hour, for Ethereum 10 minutes), for Fantom (FTM) this time is about 1-2 seconds. Transaction costs are also very low in the network, as we deduct less than one cent for each transaction.
It is very important that it is compatible with Ethereum, so you can copy and paste everything you did on the Ethereum network to the Fantom (FTM) network as well. This is very good news for downloading popular decentralized apps like Curve, SushiSwap, and Cream (which is actually a “fork” of the famous Compound app).
• Fantom also runs an incentive program where they promise around 370 million tokens (around half a billion dollars) to developers who can create unique and useful applications on their network.
IMPORTANT: Fantom is very good at “branding”. And that can work wonders in terms of expansion and price. Founder Michael Kong is an entrepreneur, technologist, former software engineer and blockchain visionary.
#7: HARMONY (ONE)
Works on the Proof of Stake (PoS) protocol.
Harmony (ONE) is one of the newest smart contract networks. It is compatible with Ethereum, which has proven very effective for Polygon and more recently Avalanche in their quest to attract both developers and users. Harmony (ONE) is an open source blockchain for building decentralized applications (dApps).
The project has designed a new version of Proof of Stake (PoS) that it calls “Effective PoS” (EPoS). EPoS allows participants to directly stake or transfer their ownership to an active validator in exchange for the block reward they will receive.
It also encourages users to delegate to smaller validators, thereby reducing the possibility of centralization.
OBJECTIVES: Harmony’s (ONE) long-term plan is to reduce centralization. Harmony uses “sharding” to scale its network, which separates the chain into segments that process transactions and store data in parallel. For this reason, it is possible for it to reach 2,000 transactions per second, but because it remains connected to the main Ethereum blockchain, it maintains protocols that ensure a high level of security in the network.
OPPORTUNITIES: Harmony (ONE) has introduced a cross-chain bridge called Horizon, which enables the exchange of assets between the Ethereum and Harmony blockchains. This solution also allowed Harmony to connect to the Binance blockchain, allowing the latter to take advantage of the former.
• This also means that nodes on another blockchain can confirm transactions on the Harmony (ONE) blockchain, thus also contributing to a faster transaction speed.
The Harmony Network (ONE) has great potential for NFTs. Namely, they presented the Bored Ape Yacht Club (monkey NFTs that also impressed the world of celebrities). Prices ranged from $200,000 to just under $3 million. Harmony (ONE) was founded in 2018 by Stephen Tse and co-founders Rongjian Lan, Nick White and Sahil Dewan. They were all infrastructure engineers who used to work at Google, Amazon, Apple and Facebook.
#8: KADENA (KDA)
Works on the Proof of Work (PoW) protocol.
The idea behind Kadena (KDA) is to revolutionize the way we interact and transact. Kadena aims to provide companies and entrepreneurs with blockchain solutions that guarantee Bitcoin security, very low network costs (“gas fees”) and high flexibility.
They want to build a public blockchain that is scalable and developer-friendly and provides a high level of security. To support this vision, they created a new consensus method, a Proof of Work model called Chainweb, and a new smart contract language called “PACT”, which is said to be more accessible to the layman than other coding languages.
In a world where every cryptocurrency is seemingly moving towards a Proof of Stake model for processing transactions on their network, Kadena (KDA) is returning to a Proof of Work model, which they believe is the most secure method to secure their network.
However, this again leads to the scalability problem that Bitcoin and Ethereum struggle with, resulting in expensive transactions and being slow compared to newer blockchains. Kadena (KDA) solves this problem by using a “ChainWeb” system that “distributes” transactions.
• “Sharding” is a process where transactions are divided into smaller blocks, allowing for faster and cheaper processing, which is what Ethereum is also trying to do with its upgrade to Ethereum 2.0.
OPPORTUNITIES: Kadena (KDA) recently created a “bridge” with the Ethereum mainnet. Cross-chain bridging not only with Ethereum but also with other blockchains such as Polkadot will allow for great scalability and more liquidity in Kadena (KDA).
• The protocol also expands rapidly and focuses on the latest trends. This includes the DeFi and NFT market. »Play-to-Earn« games, the latest trend in the crypto world, are also coming to the network.
The project was founded by Stuart Popejoy and Will Martino, who also developed blockchain projects for JP Morgan and the SEC (US Securities and Exchange Commission). The project also includes members who have worked at Microsoft, Google and Disney. Most importantly, their team includes Dr. Stuart Haber, co-inventor of the blockchain, whose studies have been cited several times in the Bitcoin white paper itself.
#9: OASIS NETWORK (ROSE)
Works on the Proof of Stake (PoS) protocol.
The Oasis Network (ROSE) is a decentralized blockchain network that enables secure and private data exchange and control. It has significant advantages that will enable it to support the next generation of DeFi, as it provides private smart contracts that enable the creation of a new generation of decentralized applications that see privacy as an incentive to build trust with their users. The Oasis Network (ROSE) is also flexible in keeping data public or confidential, allowing DeFi decentralized applications to comply with regulations while ensuring the protection of business interests and the cooperation of financial institutions in the system.
• With the support of confidential smart contracts, data is private during processing.
Oasis Network (ROSE) is the token of the Oasis system and is used for staking and delegation, as well as network transactions.
It was created to expand and improve DeFi opportunities for businesses large and small by removing the barriers that currently exist in the field. Oasis Labs, which is the core developer of the Oasis Network, was founded in 2018 by Professor Dawn Song, University of California, Berkeley. The development team raised $45 million from Polychain Capital and Binance Labs, among others, to support the initial development of the protocol.
Slovenian engineers are also working on this project: Jernej Kos, Tadej Janež, Peter Gilbert, …
#10: MINA PROTOCOL (MINA)
MINA uses “Zero Knowledge” technology.
Mina is creating the infrastructure for a secure, democratized future. While the sizes of other projects building their blockchain technology are huge and steadily growing, MINA has a fixed size of 22kb. This means it is the easiest blockchain technology in the world.
Mina’s Zero Knowledge applications can communicate privately with any website and access verified real-world data for further use in the Mina network.
What are zkApps or Zero Knowledge Apps? ZkApps are Mina protocol smart contracts that perform off-chain transactions and prevent overloading the mainnet. You can think of them as a secondary chain on the Mina network that prevents congestion on the main Mina network.
Zero Knowledge technology can be compared with Layer 2 technology on the Ethereum network and projects such as Arbitrum or Polygon, which solve the problem of over-densification of the Ethereum network. MINA has the technology integrated, and thus does not need external decompression projects.
Their advanced technology and forward-looking team has behind them well-known investors in the crypto world. These include Coinbase, Polychain Capital, Pantera, Dragonfly Capital, Hashkey Capital and many others. The project looks a strong competitor to other blockchain networks such as Ethereum, Arbitrum, Polkadot, Avalanche and others.
Unlike other coins, MINA has most of its coins already in circulation (89%), which means that there will be no major inflationary pressure in the future.