Blockchain is revolutionizing the internet, financial services, supply chain, gaming and privacy. We have also seen a significant increase in cryptocurrency use.
2017 was the year that crypto was crazed, 2018, was a year of technical focus, 2019, was the year that sophisticated blockchain companies started Building businesses, 2020 will be the year institutional investors adopt, build regulations, and move toward mass adoptions.
Currently over 5000+ cryptocurrencies exist in the market and many more to come in upcoming days as Blockchain-as-a-Service. Over 80% of these coins will die because they are scams or lack proper leadership, tech resource or funds. It's difficult for newcomers to find good projects. Sometimes it can be dangerous to invest in projects that lack fundamentals in technology. Crypto-space is still very speculative. Many times, both new investors and experienced people invest based on hype. They look at CMC rankings or hear from friends and celebrities who are investing in crypto-space. This can be misleading to identify long-lasting tech. People sometimes get confused when they see so many coins, and mistakenly believe that all coins are the same as Bitcoin. People also don't understand the various goals and scope of coins (e.g. They don't understand the differences between store of value and peer-to-peer payment vs internet computer, governance vs digitizing assets. They don't know which coins are valuable.
This article highlights 15 public blockchains that have helped to grow their user networks. These 15 cryptocurrencies have had a global impact by offering premium financial services, supply chains, gaming, the internet of things and governance, as well as cloud computing and storage. This article also highlights the banking industry, Defi. Digital identity, Entertainment Industry, private blockchains for enterprise clients, and entering into commercial partnerships.
- Bitcoin (BTC).
Bitcoin was the first cryptocurrency to be created. It is also the most well-known. The pseudonymous Satoshi Nakamoto introduced Bitcoin in 2009. It is not controlled by a central bank like traditional fiat currencies. Instead, it is run on top of a distributed network that is maintained by thousands of computers all over the globe. Bitcoin is considered the gold standard for digital currency due to its open source, decentralization nature, and the most secure public blockchain network. Bitcoin is the first proof-of-concept of peer-to-peer open-source public network. Bitcoin's actual value is determined by its scarcity and dollar, or any other Fiat currency inflation hedge. These are just a few of the many attributes that Bitcoin has that are more important than simply chasing its price.
+ Non-sovereign issue +Trustless + Native the Internet + Programmable + Supply constrained + Harde to confiscate + Settles quickly+ Border less + Doesn't distinguish between race, religion, or any other trivial thing.
- Cardano (ADA):
Cardano, a public blockchain network that uses Ouroboros as its foundation, is the most secure proof-of-stake. It has more advanced features than any blockchain protocol and includes a decentralization feature higher than Bitcoin. Cardano platform was built using functional programming Haskell. The network is capable of running financial apps used every day by individuals and organisations around the globe in the most decentralized manner. Cardano Blockchain can be used to build real-world applications such as Identity, Banking and Gaming.
Cardano has five stages. The Byron stage is responsible for decentralized network processing of Cardano Settlement Layer. Cardano's Shelley stage focuses on functionality implementation such as stake allocation and stake pool testing net. Cardano is still at its infancy stage, but by 2020 this project will be a huge success with its smart contract and Shelly. Shelly can then go into production in mainnet. Cardano created IELE virtual machine (EVM modified virtual machine) and made it general programming language at Goguen stage. Cardano is now ready to use and build Dapps. Cardano next improves the performance of the project, implements Ouroboros Praos, and modifies the network layer. They aim to make the project sustainable by completing the Voltaire stage. Hydra will help Cardano to overcome the scaling issues. This will allow Cardano to have faster Finality, higher throughput and TPS. Once the Shelly mainnet launches in Mid 2020, we will see an exponential rise in Dapp adoption on Cardano platform.
- Algorand (ALGO).
Algorand created a new generation of blockchain platforms that address many of the problems currently facing blockchain technology implementations. Silvio Micali, MIT professor and cryptography pioneer, founded Algorand. The Algorand Pure Proof-of-Stake consensus protocol and the Verifiable Random Function are the key to solving the blockchain trilemma. They offer unique features that both DApp developers and enterprises will love, including security, scalability and decentralization. The Central Bank Digital Currency (CBDC), which will be used by many countries as the underlying technology, will drive widespread adoption of Cryptocurrency. Algorand will also bring many institutional investors and financial products into mainstream, due to Decentralized Finance (DeFi), which will be rampant in the upcoming years.
- Avalanche (AVAX):
Avalanche, a high-speed platform for smart contracts, supports Visa-level throughput and sub-second finality. Avalanche's initial release dispelled the misconception that blockchains were slow and inefficient. Any improvements to these areas would require a compromise with decentralization. Avalanche uses three default chains for transactions: C-chain, X-chain, and P-chain to manage staking and subnet administration. Each virtual machine runs a different one, each designed for its respective purpose and validated by the exact same set of validators. This platform uses the innovative and powerful Avalanche consensus protocol, which enables true decentralization with near instant confirmation times. It also has an extensible and programable network infrastructure that allows developers and administrators to create new subnetworks with arbitrary execution environments. Avalanche will also be used as Layer-2 by many other Blockchain projects that are struggling to scale. Avalanche Protocol will host many Dapps, Defi, and real-world applications in the coming days.
- Cosmos (ATOM):
The Cosmos team first created the Inter-Blockchain Communication protocol. It has gained considerable popularity. IBC allows two different blockchains to exchange tokens. This protocol is crucial for interoperability. Cosmos is also a distributed network of parallel blockchains powered by BFT consensus algorithms such as Tendermint consensus. It is a decentralized network that many prominent crypto-currency Dapps, such as Binance Chain, are creating. COSMOS SDK, Tendermint Core and other crypto-space Dapps will be more widely adopted in the future because they are user-friendly and transparent.
- Ethereum (ETH).
The ethereum ecosystem is a pioneer in both smart contract technology (ICO) and ICO. It has now shifted its focus on scaling the underlying blockchain as well as building enterprise-grade apps on top of it, especially those related to Decentralized Finance (DeFi). Although Ethereum network has struggled with scaling since its creation, the network will be significantly improved with its proof-of stake upgrade and sharding upgrades. Ethereum may see many Dapps leaving the platform as there are other blockchain platforms that can fulfill its needs.
- Polkadot (DOT):
PolkaDot, an incubated Web 3 Foundation project, is a pioneering Web 3 Foundation project. It aims to create an efficient chain net ecosystem, support heterogeneous chains asset and data communication, and share security. Polkadot invented interoperability in order to improve security and scalability for chains. This was done to create an efficient chain net ecosystem. Para chain bridges allow chains like Monero, Ethereum, and Bitcoin to be connected to PolkaDot. It allows applications and smart contracts to seamlessly cross-border with assets and data on other blockchains. The Polkadot ecosystem continues to grow rapidly, with Parity and Web 3 Foundation leading the charge.
Binance is a leading cryptocurrency exchange. It offers products and services that have low barriers of entry to retail customers. Binance was initially launched as a trading platform to trade cryptocurrencies. However, it has expanded to include a futures trading platform, a blockchain platform and token launchpad. Binance Labs is a VC-like arm that explores promising startups in this space. Binance Academy also educates newcomers. Binance is a strong force in the crypto industry, with multiple revenue-generating businesses. Binance will be the equivalent to NASDAQ in cryptocurrency over the long term.
- Vechain (VET).
Vechain is a well-known blockchain platform that focuses on supply chain and delivering Internet of Things solutions. VeChain allows manufacturers to assign products to the platform with unique identities. This will enable manufacturers, supply chains partners, and consumers to track the movement through their supply chains. VeChain's blockchain solution is used by many companies, including Walmart China, DNV GL and PWC, as well as other high-profile ones.
- Zilliqa, ZIL:
Zilliqa, a prominent cryptocurrency project, aims to make blockchains more efficient and scalable by using sharding technology. Sharding technology is used to speed up the consensus process so that Ethereum and other Blockchains can host distributed applications and provide fast transaction processing. Zilliqa is the first public blockchain that can process 2828 transactions per second with sharding. This allows for new uses cases that are not possible on traditional public blockchains. Zilliqa has seen a lot of interest in real-world applications using blockchain, such as Unstoppbale domain and xfers. Bolt is just one example.
- Ontology (ONT):
The Ontology Team is a leading cryptocurrency project created by a global team of blockchain experts. Its public blockchain platform, DID (Decentralized Identity) is focused on providing flexible and scalable business solutions for enterprise clients. Ontology supports a distributed ledger system, smart contracts system, cross-chain solution and sharding. Ontology also introduces a number of protocols and frameworks to help build the "last mile” for blockchain applications. They swarmed into the crowd of projects competing for multichain interoperability and revealed a solution that is comparable to other prominent competitors like Cosmos, Polkadot and Avalanche.
- Wanchain (WAN).
Wanchain is a leading blockchain platform and it has reached a point where interoperability. The Wanchain ecosystem is designed primarily for asset transport layer. It is similar to the Internet's TCP transport layer. Wanchain is a financial company that provides smart contracts and creates cross-chain transactions. It also offers privacy mechanisms. Wanchain hub Blockchain, digital currency such as Libra, DCEP and even NFT (Non-fungible tokens) can seamlessly move from one blockchain to the next. This will eventually allow tokenization of traditional assets such as bonds, stocks and other physical assets.
- Zcash (ZEC).
ZCash is a leading privacy-driven cryptocurrency. In order to be widely used, it is likely that most cryptocurrency will have some privacy features in the future. You don't want to use a cryptocurrency where your salary, how much you were paid and how much money you spend are visible to your colleagues. This is not what most people want. Privacy features will see a huge increase in the coming years. Zcash uses (zk–SNARKs) for encryption to protect all information (senders, receivers, amounts) without the risk of double-spending. Other privacy protocols than zk-SNARK may also be traction, such as mimblewimble.
Smart contracts and blockchains cannot access off-chain data (data outside the network). Blockchain oracles are able to provide a link between on-chain and off-chain data. ChainLink is a middleware solution that allows smart contracts to access off-chain resources like data feeds, web APIs, traditional financial databases. ChainLink is a middleware solution that enhances the functionality of base-layer blockchains.
- FunctionX (FX).
FunxtionX, a relatively unknown company in the early stages of its development, is the most underrated. FunctionX foundation and PundiX team are currently building the Function X ecosystem. FunctionX is a decentralized total solution. It consists five core components: Function X Operating System, Function X distributed ledger(Blockchain), Function X IPFS, Function X Protocol, and Function X decentralized Docker. Each component serves a single purpose: to decentralize all services and apps, websites, communications, and data. Function X has launched a XPhone and XPOS, as well as other Function X enabled hardware devices. This will make a significant contribution to mass adoption. BOB, the world's first fully blockchain-enabled phone (Android & Blockchain combo phone), was recently honored with the CES 2020 Innovation Award. Many more hardware devices will be able to connect via Function X blockchain, including cell phones, point-of-sales and other smart devices. These devices will act as nodes and create a fully functional and decentralized network.