• In addition to Bitcoin, various Altcoins are always popular
• Cardano, Polygon, Solana & Co. are currently in the top spots
• Looking at potential blockchains of tomorrow could be worthwhile
In addition to Bitcoin and Ethereum, new blockchain projects have repeatedly appeared in recent years – and some have disappeared from the focus of investors. In addition to Cardano, Polygon, Solana, Polkadot & Co., which – in terms of market capitalization – are currently in the top spots, there are also some blockchains that are not yet so well known, but could possibly celebrate their breakthrough soon . BTC-ECHO has identified five of them.
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May be
Sei is a crypto startup founded by Goldman Sachs and Robinhood veterans developing a blockchain that aims to accelerate decentralized finance transactions. Sei bills itself as “the first sector-specific Layer 1 blockchain dedicated to trading.” The blockchain was built using the Cosmos SDK and Tendermint Core. According to Sei, every aspect of the blockchain has been optimized “to help exchanges run better and offer their end users the best UX.” The native order-matching engine promotes the scalability of order book DEXs based on Sei, the twin-turbo consensus improves latency and throughput, and the front-running protection combats malicious front-running that is prevalent in other ecosystems. In addition, Sei offers specialized parallelization for DeFi and describes itself as the fastest blockchain on the market with around 600 milliseconds to finality. It is expected to process 22,000 orders per second, compared to Bitcoin with a finality after 60 minutes and 10 transactions per second, Ethereum with a finality after six minutes and 20 transactions per second and Solana with a finality after 2.5 seconds and 10,000 transactions per second. “The combination of these tweaks allows for the emergence of new types of financial products – from live sports betting to complex options and futures,” Sei said on its website.
It is currently in the second of four acts of the Incentivised testnet, where validators can receive rewards for their support. However, a date for the launch of the mainnet has not yet been announced.
Shardeum
Shardeum was founded in 2022 by co-founder and CEO of Indian crypto exchange WazirX, Nischal Shetty, and US-based blockchain architect Omar Syed. Shardeum is “an EVM-based, linearly scalable smart contract platform that offers forever-low gas rates while maintaining true decentralization and robust security through dynamic state sharding,” according to its website. What sets Shardeum apart is that any dApp that can run on the Ethereum Virtual Machine runs seamlessly on Shardeum. Also, each node that joins the Shardeum network increases both transactions per second (TPS) and the overall capacity of the network “to achieve linear scaling and ensure low transaction fees even as usage grows”. To reduce the load on each validator, historical data is swapped out to archive nodes and more nodes are added. This keeps the hardware requirements for operating a validator node low. Shardeum also guarantees that all transactions are processed within a few seconds to ensure low latency. Once processed, transactions are irreversible to achieve immediate finality. Transactions are processed according to the “first come, first served” principle. The gas rate is the same for all transactions “to ensure fairness and eliminate miners’ extractable value.” “A leaderless Proof-of-Quorum (PoQ) consensus algorithm, Proof-of-Stake (PoS) with slashing, standby nodes, node rotation and permissionless participation” contribute to increasing the security of the network. As a PoS network, Shardeum is also energy-efficient and sustainable.
At the moment, Shardeum is still in the testnet phase – but the mainnet launch should take place in the first quarter of 2023.
ZetaChain
ZetaChain is, as the company behind the blockchain writes on its website, “the only decentralized blockchain and smart contract platform built for omnichain interoperability” and is based on Cosmos SDK and Tendermint Consensus. The Zeta team’s mission is to “build the safest, easiest, and most cost-effective way to move value and information across blockchains and layers” to enable more users and developers to take advantage of crypto. “While many cross-chain solutions like Bridges have different, often centralized trust models that have been shown to be vulnerable to exploits and hacks, ZetaChain is a proof-of-stake blockchain where all transactions and activity on the platform – even cross- Chain transactions – are fully transparent and verifiable and work with a reduced level of trust,” says the documentation for the project.
ZetaChain is also still in the testnet phase with “ZetaChain Athens 2”. It has not yet been revealed when the mainnet launch will take place.
Canto
“Canto is a Layer 1 blockchain designed to deliver on the promise of Defi,” reads the website of the fledgling blockchain project, which launched in August 2022. It is a permissionless, general-purpose blockchain running the Ethereum Virtual Machine (EVM). “As a post-traditional financial movement, Canto enables accessibility, transparency and freedom for new systems.” Canto is “powered by a loosely organized collective of in-chain builders” and offers “a new commons powered by free public infrastructure.”
CANTO’s own token is complemented by NOTE – “a fully collateralized unit of account” issued by Canto Lending Market (CLM), a pooled compound v2 fork for lending, and “also to the ecosystem as a soft bond USDC/USDT stablecoin.” serves”.
rain ledger
Regen Ledger is an “application-specific blockchain for global climate finance,” as Regen Network writes on its own website. It is a “sovereign proof-of-stake blockchain built on top of the Cosmos SDK” and will be “managed as a public blockchain by token holders.” Starting in 2019, Regen Ledger launched a series of testnets, the Regen Ledger mainnet was launched in April 2021. The Regen Network community aims to “build a fundamental fintech infrastructure for ecological claims and data.” The project aims to serve as a “Layer 0” that other projects and protocols can build upon and use “to implement their own climate-focused business models.” The blockchain provides the project with three key elements (data verification, payments, and smart contracts) that make it possible to “create a network dedicated to the monitoring, verification, and awarding of contracts or payments for environmental health outcomes.”
Regen Network also owns its own token: The REGEN token is a staking token and utility token launched on Tendermint’s own BFT-powered blockchain. It was developed “to ensure utility for ecological data and climate markets.” For example, in the Regen network, transaction fees are paid in REGEN and the token is required for additional fees for special promotions. The token is currently available on the decentralized exchanges Osmosis, Emeris and Sifchain.
In addition to REGEN, there is also a carbon token in the Cosmos ecosystem, Nature Carbon Ton (NCT), which is “secured 1:1 by CO2 certificates” which, according to Regen Network, were originally issued by the “world’s leading company on the voluntary CO2 Market”, Verra, were exhibited. It also now has its own Regen Marketplace, where “carbon and green assets can be bought, sold and retired on-chain.”
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