After the outbreak of the public chain sector, what other public chains are worthy of our attention and participation?

This article will work with you to explore what other public chain projects have potential in today’s hot public chain sector.

The decision in 2021 will leave a strong mark in the history of the blockchain industry, from Bitcoin’s breakthrough of $60,000, to the vigorous development of the concept of NFT, to the discovery and adoption of emerging concepts such as Metaverse and GameFi. The industry has entered an era of rapid expansion, and more capital has begun to pay attention to the blockchain industry and actively participate in industry construction.

However, we cannot ignore the contribution made by infrastructure. Public chains such as Ethereum, BSC, Polygon, Solana, and Avalanche are all supporting the development of the industry. With this help, public chain native tokens such as ETH, BNB, Matic, SOL, and AVAX have also obtained great value discoveries and completed a substantial rise.

Thanks to the popularity of the public chain market, investors hope to discover and participate in more public chains with potential value in order to obtain sufficient economic benefits. Next, this article will explore with you what other public chain projects have potential in today’s hot public chain sector.

Phantom

As a challenger to the public chain landscape, Fantom is a high-performance public chain that uses DAG technology to build on, and targets public chains such as EOS, Steem, and ADA . Fantom uses the Lachesis aBFT consensus mechanism, which can help Fantom to carry out high-speed, scalable and safer chain activities. At the same time, Lachesis supports Fantom to be used to create any type of private and public distributed ledgers, that is, EVM and Cosmos SDK are supported.

Next, we can first understand DAG technology. The Lachesis aBFT consensus mechanism is based on this technology and is deepened.

After the outbreak of the public chain sector, what other public chains are worthy of our attention and participation?

In the DAG structure, a, b, c, d, and e are in partial order. These elements have no defined order. We know that a is before d, but we don’t know the relationship between b and c. DAG pays more attention to the parent-child relationship. Each element may have multiple parent elements, but the parent-child relationship does not mean application-level dependencies.

DAG improves the restriction between each node through partial order decision-making. All information can only flow in one direction in the node and cannot be self-certified in a cycle. At the same time, this also disrupts the correlation between nodes. A problem with one node will not affect the entire chain, reducing the possibility of a single point of failure. Reducing the constraint of linear relationship will greatly improve the efficiency of information processing.

Each Lachesis node stores a local DAG composed of event blocks, and each event block is composed of things. DAG captures the pre-occurrence relationship between events and is used to calculate the exact final sequence of events independently of each node to calculate things. Compared with the previous Satoshi Nakamoto consensus and the classic consensus, Lachesis aBFT has considerable advantages in terms of scalability, low latency, decentralization, security and environmental protection. It is worth mentioning that Avalanche also uses the form of DAG in its architecture.

Currently, according to data from DeFi Llama, Fantom’s total lock-up volume (TVL) ranks eighth-this public chain is still in its infancy, just surpassing Heco, reaching $1.24 billion.

After the outbreak of the public chain sector, what other public chains are worthy of our attention and participation?

Source: DeFi Llama

Fantom’s currency price has also risen sharply. In 14 days, the FTM price rose from 0.44 US dollars to the highest point 1.33 US dollars. Yearn Finance founder Andre Cronje even tweeted to imitate SBF, saying that if FTM can rise to $3, it will start acquiring FTM.

After the outbreak of the public chain sector, what other public chains are worthy of our attention and participation?

Therefore, in addition to high performance, the widespread attention of the market is also related to the sharp rise of Fantom’s native token FTM.

The total issuance of FTM is 3.175 billion, 40% is sold, 30% is used for market development, 15% is given back to consultants/contributors, and the remaining 15% is held by the team. FTM can be used for node pledge, decentralized governance, gas fees, etc.

At the same time, Fantom also began to lay out for cross-chain. The first is the exchange’s support for Fantom, because we all know that many cross-chain activities are done through centralized exchanges. Currently, Coinbase Wallet supports Fantom mainnet, and users can access DApps on Fantom mainnet through Coinbase Wallet. The aforementioned Andre Cronje also airdrops FTM tokens to users who have used Anyswap, Polygon, Avalanche, xDai, Ren Protocol, and Connext Network cross-chain bridges.

In addition, there is another direction worthy of our attention, and that is cooperation with centralized institutions. Fantom has launched the CBDC solution “Fantom CBDC”, which uses Hybrid technology that has been validated in the Bank of England, and combines a mixed retail and wholesale distribution model. Among them, at the wholesale level, Fantom CBDC cooperates with the central bank to establish direct accounts; at the retail level, Fantom CBDC uses commercial banks as an intermediate layer, while communicating with users and conveying information to other commercial banks and central banks.

After the outbreak of the public chain sector, what other public chains are worthy of our attention and participation?

Cardano

Cardano is a public chain with high hopes from many supporters, founded by Charles Hoskinson. Charles Hoskinson founded Cardano in 2015 after disagreements with BM and Vitalik Buterin .

In Charles Hoskinson’s vision, Cardano is a third-generation proof-of-stake blockchain platform, which is guided by scientific philosophy and research to provide sustainable, scalable and transparent blockchain services. In the 6 years since its launch, Cardano has developed a light wallet and a light client, including five development stages:

  • Byron (foundation established): Cardano’s settlement layer allows users to send and receive ADA on the blockchain network of proof of equity.
  • Shelley (Decentralized): Shelley introduced a decentralized ledger, creating a new economic system for Cardano. As a proof-of-stake network, Cardano Shelley has launched an Incentive Test Network (ITN), which proves that the blockchain can achieve long-term sustainable development through a mining pool that relies entirely on community management.
  • Goguen (smart contract): Cardano’s computing layer, focusing on building a global, financial, and multifunctional system for decentralized application (DApp) construction, smart contract support, and custom token issuance. Including supply chain, tracking and tracing, finance, medical records, identity voting, property registration, P2P payment and other application areas to build solutions.
  • Basho (Scalability): Basho will focus on the optimization of Cardano in improving the scalability and interoperability of the network. Other development stages focus on decentralization and new features, while Basho is committed to improving the underlying performance of the Cardano network to better support the growth and adoption of high-volume applications.
  • Voltaire (governance): Decentralized governance and decision-making are the core of Voltaire, giving the Cardano community the ability to vote on network development updates, technological improvements, and project funds.

Currently, Cardano is on the eve of the Goguen stage.

The technicality of Cardano is liked by its supporters, and the artistry of its name is even more commendable.

The project name Cardano is the name of the Italian scholar Girolamo Cardano. His contribution is the first Cardano formula that published the general solution of cubic algebraic equations. The token name ADA is Edda Lovelace, the only married child of the poet Byron, who was the first programmer in the world. In its five stages, Cardano also uses the names of famous historical figures:

  • Byron: British poet Byron
  • Shelley: British romantic poet Shelley
  • Goguen: American computer scientist Kogan
  • Basho: Japanese haiku master Matsuo Basho
  • Voltaire: French writer Voltaire

But Cardano’s problem is also obvious-the speed of technological development and advancement is too slow. And the Emurg team, one of Cardano’s fundraisers, has also been experiencing negative news. Until now, ADA can only be used as node pledge income.

However, the market is very tolerant of Cardano. ADA has been on the rise for the past two years and has now become the third-largest token by market value. The direct reason that pushed it to become the third is the smart contract launched through the hard fork upgrade.

After the outbreak of the public chain sector, what other public chains are worthy of our attention and participation?

Ing 源 : Coingecko

The belated smart contract has triggered a new round of expectations for Cardano in the market.

It is worth mentioning that Cardano supports the seamless upgrade of hard forks, so this smart contract upgrade will not cause any inconvenience to Cardano users.

Cardano, the most important puzzle piece, will be completed. Then we can also think about the future advantages of Cardano and the role that Cardano will play in the DeFi ecosystem.

First of all, due to the large number of ADA holders, the future volume of Cardano DeFi needless to say, and all token holders can easily participate in Cardano’s DeFi ecosystem.

Secondly, another advantage of Cardano is its excellent development capabilities. Its team is a highly organized team of engineers and scholars who have in-depth research on encrypted assets and blockchain. It has published more than 100 articles on the underlying technology of encryption. Academic papers.

Finally, it is Cardano’s advancement of cross-chain technology. In April of this year, the Cardano team established a private environment to run the end-to-end test of the ERC-20 Converter, allowing users to migrate supported tokens from Ethereum to Cardano. Currently, Cardano’s ERC20 converter will already be online on the testnet.

With the advancement of cross-chain technology, the value flow of the DeFi ecosystem will be completely opened up on the Cardano chain.

Land

Public chains can generally be divided into three types. The first is a large public chain like Ethereum. Now many public chains are beginning to capture more locked-in value by improving performance, such as Solana and Fantom mentioned above. The second is the exchange public chain. The exchange public chain is launched by some large exchanges and is deeply tied to the public chain. Its advantage lies in the initial large user scale. The third type is some dedicated chains, which obtain user stock by providing users with differentiated services. Terra is one of them.

Terra is a blockchain that supports the development of stable programmable payments and open financial infrastructure. It uses the PoS consensus mechanism, supported by the Tendermint consensus, and produces a block in 6 seconds on average. It is backed by a basket of stablecoins (UST) linked to fiat currencies, which are minted by Luna.

The main function of Luna is to lock the value in the Terra ecosystem through pledge to achieve the purpose of protecting the integrity of the Terra mechanism. Through its role in ensuring the stability of the Terra stablecoin price and regulating the incentive mechanism of validators, Luna has become the basic asset of the entire Terra network and ecosystem.

In essence, Terra is replacing the complex payment value chain with a single blockchain layer, including credit card networks, banks, and payment gateways. The foundation of other public chain ecology lies in the construction of multiple protocols, and the foundation of Terra ecology lies in the circulation of UST stable coins, and all application protocols on Terra are developed around UST. Therefore, Terra’s differentiation is reflected here, and it has greater appeal to users outside the encryption industry.

The advantage of Terra ecology lies in two points:

  • Chai has brought to it a huge user base. Chai is the earliest payment application on Terra. On September 5, the user payment amount reached 1.9 billion won (1.66 million U.S. dollars), the number of transactions was 95758, the daily active users were 54,276, and the total number of users reached 2.48 million;
  • The construction of the asset management protocol Anchor Protocol and the synthetic asset protocol Mirror Protocol on the Terra chain.
  •  

After the outbreak of the public chain sector, what other public chains are worthy of our attention and participation?

图 源 : Easter

Next, we will also take you to learn about these two star-rated applications on Terra.

  • Anchor Protocol

     

Anchor Protocol is a decentralized currency market and savings protocol based on the Terra blockchain, which provides stable currency deposits for users on Terra with low volatility. However, the agreement only supports users to obtain the income of the stable coin UST, and does not support other types of stable coins.

Anchor Protocol constitutes a completely decentralized fixed-income tool through the use of diversified mortgage yields, currency markets and ANC token incentives and governance.

At the same time, the design of Anchor Earn takes into account cross-chain access. In the future, Anchor Earn will support the integration of deposits between public chains and provide stable currency deposit services for applications outside the Terra blockchain. With the adoption of ETH Anchor, BSC Anchor, and Solana Anchor, Anchor Earn will be further expanded to capture more value, and more stable currency types will be supported in the future.

  • Mirror Protocol

     

Mirror Protocol is a decentralized synthetic asset protocol, incubated by Terra, and uses Terra stablecoin as the main collateral. It freely casts and trades various synthetic assets with a mortgage rate of 150%. Synthetic assets are also called on the Mirror platform. It is a mirror asset (mAssets).

Mirror will ensure that there is always enough collateral in the agreement to support mAssets and manage the mAssets market through UST on TerraSwap. Mirror is a project developed and directed by its community: its market is maintained by its own users through MIR incentives, and the protocol develops following the development of decentralized ideas through democratic governance.

The casting of mAssets is decentralized, with the goal of simulating and tracking the price of any asset from stocks to cryptocurrencies, providing more Terra users with a wealth of investment targets and choices.

In addition to the Anchor Protocol and the Mirror Protocol, there are currently many protocols under construction with more gameplay, such as the currency market Mars Protocol for Terra assets, the decentralized exchange Levana Protocol, the collection and payment protocol Suberra Protocol, and the sustainable charitable donation. Service agreement Angel Protocol and so on.

Although Terra’s gameplay is closer to traditional finance, with the development of DeFi, more and more protocols have been introduced by the integration of CeFi and DeFi concepts. I believe that more protocols will be deployed on Terra in the future.

At the same time, the value flow between Terra and other public chains has also been opened up. In addition to the decentralized proof engine Wormhole that already supports transmission between Solana, Terra and the Ethereum network, Terra is also expanding its pledgeable assets and adding other public chains such as ETH. In addition, cross-chain protocols like Orion Protocol are also built on Terra.

Orion Protocol aims to build a cross-chain stable currency bank, and its first product, Orion Saver Alpha, can help users outside the Terra ecosystem access Anchor Protocol’s stable income savings service.

It can be said that Terra is establishing a DeFi ecological model based on stablecoins to provide users with extremely differentiated financial services. However, Terra’s current development also has some constraints, such as being too centralized and regulatory agencies The attitude of Terra financial products, the growth bottleneck of Terra star products such as Anchor and Mirror, and the lack of transparency of project information.

It is worth noting that although stablecoin products such as UST are different from other algorithmic stablecoins and have also dealt with extreme market conditions, we cannot be 100% sure that UST products are perfect and can cope with extreme market conditions every time. Today, when the development of decentralized stablecoins is hindered, the sustainability of UST products is also a risk factor that we need to consider.

For investors, these issues are uncertain risks, and they are also the first things they need to consider when participating in the ecology.

Waves

Waves is an open blockchain protocol and development tool set for Web3.0 applications and decentralized solutions, using a proof-of-stake consensus mechanism. The chance of each participant generating the next block is directly proportional to the economic interest in the network. Therefore, the miners launching attacks have no benefit to the miners themselves-this guarantees the security of the network to a certain extent.

The advantages of Waves are in two points:

  • Developer-friendly environment;
  • Product advantages under the Waves system.
  • Developer-friendly environment

     

Waves provides developers with a unique decentralized application development method that can avoid the use of Gas fees and non-Turing complete languages ​​to ensure the security and predictability of the system. Developers need to use the Ride language to develop and program on Waves. The ease of use of Ride can help developers better build decentralized applications on the blockchain. Moreover, the Ride language is built on the technology stack to avoid programming errors that can lead to serious errors. It is worth mentioning that Waves has launched related free courses.

In addition, Waves’ support for developers is also reflected in another aspect-the Waves ecosystem provides developers with various tools, products and components to help developers simplify the construction and operation of decentralized applications the process of. Developers can also develop and launch simplified tools through the community to help more developers more easily enjoy the dividends of the ecological development of the public chain.

  • Product advantages

     

Neutrino Protocol

Neutrino Protocol is an algorithmic stable currency protocol that issues an algorithmic stable currency called USDN. Users can issue USDN by locking and pledged Waves Token. The issuance of USDN is automatically issued on a smart contract through a price oracle machine, a price algorithm. In the event of extreme market conditions or attacks, Neutrino Protocol will lock the collateral and equity pledge to protect the security of all users’ assets.

At present, USDN has received good market feedback, and the current market value has stabilized at around 500 million US dollars.

Gravity Protocol

Gravity Protocol is a decentralized cross-chain and oracle network based on Waves, used for communication between blockchains and with the outside world, serving the native token economy. The operator becomes a node of the Gravity protocol by locking a certain number of native tokens in the chain to provide users with data.

When the user selects the data of a specific chain and pays, all Gravity nodes will share the revenue. At the same time, when Gravity Protocol distributes revenue, it will refer to the data quality provided by each node and its total input data to correctly distribute profits. It can be considered that the larger the cross-chain ecology of Gravity Protocol, the more Gravity high-quality data nodes.

The Waves team has been committed to promoting the development of cross-chain technology and creating a seamless decentralized ecosystem for more users.

Waves Enterprise

Waves Enterprise is an enterprise application-level hybrid chain. In order to solve the problem of hybrid chain development, Waves Enterprise adopts a faster way to meet the current needs of enterprises and government agencies for blockchain technology. Regardless of the degree of decentralization, Waves Enterprise can help enterprise users to quickly deploy, each component is ready to use, and meet the individual needs of different enterprise users.

NFT

In response to the recent NFT boom, Waves launched the blockchain game Duck Hunters, which aims to incentivize the community to promote the Waves ecosystem and collect unique digital ducks in the form of NFT. Game users can use EGG Token to create their own duck digital image NFT and breed them.

Concluding remarks

In the fierce competition, each public chain is competing for liquid value and expanding the ecological value boundary through user size, performance and differentiated services, but almost no public chain can really challenge the leading position of Ethereum. The big reason lies in the first-mover advantage of Ethereum, its decentralized ideology, and the moat formed by the mature decentralized DeFi protocol. How public chain challengers will challenge Ethereum, or build a chain ecosystem with Ethereum, let us wait and see!

 

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/after-the-outbreak-of-the-public-chain-sector-what-other-public-chains-are-worthy-of-our-attention-and-participation/
Coinyuppie is an open information publishing platform, all information provided is not related to the views and positions of coinyuppie, and does not constitute any investment and financial advice. Users are expected to carefully screen and prevent risks.

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