BlackRock’s introduction of the first Bitcoin spot ETF in January has sparked renewed interest in the blockchain industry as a whole, leading to increased institutional investment and enthusiasm for crypto sectors like DeFi, GameFi, and NFTs. With the rise in crypto prices, many believe that further growth is on the horizon as we approach summer 2024. Now is the perfect time to explore some of the most promising blockchains to watch out for currently.
1. Polygon:
Polygon is a well-known Layer-2 scaling network for Ethereum, enabling EVM developers to scale their dApps quickly. It enhances the scalability, flexibility, and sovereignty of Ethereum dApps while maintaining strong security and interoperability with the top smart contract blockchain. Polygon’s native ERC-20 token, MATIC, is compatible with other ERC-20 tokens and offers utility such as gas fee payment, network security, and governance. With its rapid speed, low gas fees, and integration with Ethereum’s ecosystem, Polygon has become one of the leading Ethereum scaling networks.
2. Merlin Chain:
Merlin Chain, developed by Bitmap Tech, aims to bring DeFi, GameFi, and community coins to the Bitcoin ecosystem. It introduces utility for Bitcoin through technical innovations like ZK-Rollups to enhance efficiency, security, and scalability. Merlin also utilizes fraud-proof mechanisms and a segregated oracle network to fetch external data for smart contracts, enabling more utility for Bitcoin-native assets. Merlin’s native token, MERL, allows users to interact with its growing ecosystem of dApps and participate in governance.
3. Fetch.ai:
Fetch.ai has created an AI blockchain that integrates AI capabilities and services into legacy systems and applications. It offers access to AI agents that perform various tasks, allowing humans to complete work more efficiently. The network is powered by the FET token, which has seen significant value growth. Fetch.ai’s recent launch of DeltaV, an AI chat interface, further enhances its relevance by providing a virtual assistant for e-commerce platforms. As the need for decentralized AI models increases, Fetch.ai has the opportunity to thrive.
4. Nolus:
Nolus is revolutionizing DeFi with its concept of “leasing,” enabling users to secure more capital upfront by borrowing against their collateral. Unlike traditional DeFi, Nolus allows undercollateralized loans and offers more flexible liquidation processes. Its interest rates are locked into smart contracts, eliminating concerns about variable interest rates. Nolus has its own Layer-1 proof-of-stake blockchain, ensuring compatibility and security within the Cosmos ecosystem. The total value locked in Nolus has grown significantly since the beginning of the year.
5. R3 Corda:
Corda is a decentralized ledger aimed at large enterprises, banks, and financial service providers. It offers a blockchain-like experience with a unique consensus mechanism that processes transactions in real-time. Corda has gained a loyal following, with customers like HSBC, Bank of America, Intel, and Microsoft. It provides tools for automating business logic and supports CorDapps, allowing developers to receive funding for their projects. Corda’s strong traction positions it as a leading player in industries like insurance and central bank digital coins.
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