The Most powerful ecosystems in the space.
You can check back on occasion as this list may change. Cardano and Solana will be added soon. Also ratings on different aspects will be added soon.
Biggest advantages : Polkadot enables cross-blockchain transfers of any type of data or asset, not just tokens. Connecting to Polkadot gives you the ability to interoperate with a wide variety of blockchains in the Polkadot network. They have one of the best team in the ecosystem.
Biggest challenges : All the challenges faced today with the traditional internet of today — such as poor system security, monopolization of internet services and misuse of personal user data. Polkadot is a highly technical ecosystem and user friendliness is a great goal to have, and Polkadot does have it in mind for now.
Website : https://dfinity.org/
Any type of data across any type of blockchain
Polkadot was created by Gavin Wood, another member of the core founders of the Ethereum project who had differing opinions on the project’s future. Polkadot development is on track to deliver the most robust platform for security, scalability and innovation.
Polkadot is a network protocol that allows arbitrary data—not just tokens—to be transferred across blockchains. This means Polkadot is a true multi-chain application environment where things like cross-chain registries and cross-chain computation are possible. Polkadot can transfer this data across public, open, permissionless blockchains as well as private, permissioned blockchains.
This makes it possible to build applications that get permissioned data from a private blockchain and use it on a public blockchain. For instance, a school’s private, permissioned academic records chain could send a proof to a degree-verification smart contract on a public chain.
Polkadot is a sharded multichain network, meaning it can process many transactions on several chains in parallel (“parachains”). This parallel processing power improves scalability. Custom blockchains are quick and easy to develop through the Substrate framework and can be connected to Polkadot’s network within minutes. The network is also highly flexible and adaptive, allowing the sharing of information and functionality between participants similar to apps on a smartphone. Polkadot can be automatically upgraded without the need for a fork in order to implement new features or remove bugs. The network has a highly sophisticated user-driven governance system that also helps to secure it. Communities can customize their blockchain’s governance on Polkadot based on their needs and evolving conditions. Nominators, validators, collators and fishermen all fulfil various duties to help secure and maintain the network and eradicate bad behavior.
Polkadot’s relay chain is built with Substrate, a blockchain-building framework that is the distillation of Parity Technologies’ learnings building Ethereum, Bitcoin, and enterprise blockchains.
Polkadot’s state machine is compiled to WebAssembly (Wasm), a super performant virtual environment. Wasm is developed by major companies, including Google, Apple, Microsoft, and Mozilla, that have created a large ecosystem of support for the standard.
Polkadot’s networking uses libp2p, a flexible cross-platform network framework for peer-to-peer applications. Positioned to be the standard for future decentralized applications, libp2p handles the peer discovery and communication in the Polkadot ecosystem.
The Polkadot runtime environment is being coded in Rust, C++, and Golang, making Polkadot accessible to a wide range of developers.
Tron is the world fastest-growing public chain, boasting over 54 million accounts and 2.4 billion transactions. Founded by Justin Sun, Tron have big advantages over Ethereum, lower fee’s and the ecosystem can generate much more transaction per second. Another difference between TRON and Ethereum is the use of the improved Delegated Proof-of-Stake consensus mechanism when transactions are not confirmed by all network nodes, but by regularly elected super-representatives, the number of which is limited to 27 and who receive significant rewards from TRON for their work. Tron added Tether on Tron blockchain and it already surpassing Ethereum last april.
TRON has established dual headquarters in the Americas and Asia Pacific,with the establishment of more overseas offices in preparation and our team in rapid expansion. We offer employees opportunities to go on international business trips and to work on overseas posts. With TRON, you’ll be exposed to the most cutting-edge blockchain technology.
TRON is a blockchain-based operating system that aims to ensure this technology is suitable for daily use. Whereas Bitcoin can handle up to six transactions per second, and Ethereum up to 25, TRON claims that its network has capacity for 2,000 TPS.
TRON has positioned itself as an environment where content creators can connect with their audiences directly. By eliminating centralized platforms — whether they are streaming services, app stores or music sites — it is hoped that creators won’t end up losing as much commission to middlemen. In turn, this could also make content less expensive for consumers. Given how the entertainment sector is increasingly becoming digitized, TRON could have a headstart in applying blockchain technology to this industry.
TRON also offers developers a really interesting and attractive platform for building decentralized applications. To facilitate their work, the project created a TVM virtual machine that supports Remix, Truffle, and Web3.js, making it easier for applications built within and outside of TRON to interact.
Last but not least, whereas some other blockchain projects can be opaque about their plans for development, TRON offers a point of difference by delivering a roadmap that shows its intentions for the coming years.
Internet Computer (ICP)
Biggest advantages : Chain Key Technology, scientific breakthrough
Biggest challenges : All the challenges faced today with the traditional internet of today — such as poor system security, monopolization of internet services and misuse of personal user data.
Website : https://dfinity.org/
Live Explorer : https://www.dfinityexplorer.org/#/datacenters
Internet Computer is set out to build a modern internet capable of hosting practically any scale of application — ranging from simple smart contracts and DeFi applications to pan-industry platforms and enterprise systems. The system is theoretically capable of hosting “all of humanity’s software logic and data in smart contracts.”
The essential purpose of the Internet Computer is to create a far superior blockchain for humanity to build on. Inside that objective there are many more specific intentions, some of which I review in broad strokes:
- Public Utility That Grows Exponentially With Builders
- Systems and Services That Are Unstoppable Like the Internet
- Systems and Services That Are Secure by Default and Preserve Privacy
- Crushing Complexity and Scaling Using Reimagined Smart Contracts
- Blockchain at Web Speed That Runs on the Internet’s “Edge”
- Removing Troublesome Intermediaries From Blockchain Systems
- Removing Critical Usability Issues From Blockchain Systems
- Unleashing Intelligent Governance and Autonomous Evolution
- “Open Internet Services” With Tokenized Governance Systems
- A Trustless Programmable Web With Non-Revocable Sharing
- Democratizing Tech Opportunity by Extending It to the 99 Percent
- Building a Richer Open Internet That Beats Out Mega Monopolies
- Using Computation to Provide Stable Liquidity to Contracts
- Making WebAssembly the World’s Virtual Machine
- Completing the Blockchain Trinity
Internet Computer is the world’s first blockchain that runs at web speed with unbounded capacity. It also represents the third major blockchain innovation, alongside Bitcoin and Ethereum a blockchain computer that scales smart contract computation and data, runs them at web speed, processes and stores data efficiently, and provides powerful software frameworks to developers. By making this possible, the Internet Computer enables the complete reimagination of software — providing a revolutionary new way to build tokenized internet services, pan-industry platforms, decentralized financial systems, and even traditional enterprise systems and websites.
The Internet Computer blockchain only recently launched but developer and entrepreneurial activity is exploding, and so are the active users of their emerging dapps and services.
The mission of Internet Computer is to build the Internet Computer, thereby reinventing the Internet as a computer that hosts secure software with superpowers. The Internet Computer is a new technology stack that is tamper-proof, fast, scales to billions of users around the world, and supports a new kind of autonomous software that promises to reverse Big Tech’s monopolization of the internet.
DFINITY was founded in 2016 by Dominic Williams and already include 3 research Centers, and more than 200 team members.
The purpose of the Internet Computer is to extend the public internet, so it can also be the world’s compute platform. Today, the internet is a network that connects everybody and everything, but systems and services currently run from private infrastructure. The scientific breakthrough behind the Internet Computer is Chain Key Technology, which encompasses dozens of advanced technology such as novel Consensus, Non-Interactive Distributed Key Generation (NI-DKG), Network Nervous System (NNS), Internet Identity, etc. Chain Key Technology consists of a set of cryptographic protocols that orchestrate the nodes that make up the Internet Computer. It is one of the fundamental breakthroughs behind the Internet Computer, enabling it to have a single public key. This is a huge advantage because it allows any device, including smart watches and mobile phones, to verify the authenticity of artifacts from the Internet Computer. In contrast, this is not possible for traditional blockchains. The single public key is just the tip of the iceberg: Chain Key Technology is the engine that drives the Internet Computer and makes its operation possible. It allows for adding new nodes to form new subnets to scale the network infinitely; replacing faulty or crashed nodes with new ones without ever stopping; reviving subnets even if too many nodes within have failed; and upgrading the Internet Computer Protocol seamlessly, allowing the network to fix bugs and add new features. The DFINITY R&D team has invented a new noninteractive key resharing protocol. Each of the old signers only needs to broadcast a single message to the new signers. To ensure that this is done securely, many concepts from advanced cryptography are utilized, including encryption with forward secrecy and noninteractive zero-knowledge proofs. Because it is noninteractive, the way the key resharing protocol operates is ideal for an asynchronous environment, and the benefits include key preservation. Throughout the lifetime of a subnet, it is known by a single public key, and the other parties on the Internet Computer do not have to keep track of changing public keys.
Ethereum (ETH)
Ethereum is the community-run technology powering the cryptocurrency, ether (ETH) and thousands of decentralized applications. Ethereum is the center of cryptoverse and the most used in the world.
Biggest advantages : Flexibility, open source & adoption
Biggest challenges : With many of the biggest DeFi projects built on top of ethereum’s blockchain, the token has soared as users flood the network. Meanwhile, the latest cryptocurrency craze for so-called non-fungible tokens (NFTs) has also resulted in heavy traffic on the underlying ethereum network. Ethereum upgrades are very complex but necessary. The time it has taken to get this far in implementing Ethereum 2.0 speaks to the fact that it’s far more challenging to change the engine in a moving vehicle than it is to build one from scratch.
Website : https://ethereum.org/en/
Ethereum is the community-run technology powering the cryptocurrency, ether (ETH) and thousands of decentralized applications and a technology that’s home to digital money, global payments, and applications. The community has built a booming digital economy, bold new ways for creators to earn online, and so much more. It’s open to everyone, wherever you are in the world – all you need is the internet.
Today, billions of people can’t open bank accounts, others have their payments blocked. Ethereum’s decentralized finance (DeFi) system never sleeps or discriminates. With just an internet connection, you can send, receive, borrow, earn interest, and even stream funds anywhere in the world.
Ethereum isn’t just for digital money. Anything you can own can be represented, traded and put to use as non-fungible tokens (NFTs). You can tokenise your art and get royalties automatically every time it’s re-sold. Or use a token for something you own to take out a loan. The possibilities are growing all the time. Ethereum and its apps are transparent and open source. You can fork code and re-use functionality others have already built. If you don’t want to learn a new language you can just interact with open-sourced code using JavaScript and other existing languages.
Vitalik Buterin, Galvin Wood (Polkadot) and Charles Hoskinson (Cardano) Co-Founded Ethereum. Ethereum is a decentralized open-source blockchain system that features its own cryptocurrency, Ether. ETH works as a platform for numerous other cryptocurrencies, as well as for the execution of decentralized smart contracts. Ethereum’s own purported goal is to become a global platform for decentralized applications, allowing users from all over the world to write and run software that is resistant to censorship, downtime and fraud. Ethereum has pioneered the concept of a blockchain smart contract platform. Smart contracts are computer programs that automatically execute the actions necessary to fulfill an agreement between several parties on the internet. Ethereum’s principal innovation was designing a platform that allowed it to execute smart contracts using the blockchain, which further reinforces the already existing benefits of smart contract technology. Ethereum’s blockchain was designed, according to co-founder Gavin Wood, as a sort of “one computer for the entire planet,” theoretically able to make any program more robust, censorship-resistant and less prone to fraud by running it on a globally distributed network of public nodes.
In addition to smart contracts, Ethereum’s blockchain is able to host other cryptocurrencies, called “tokens,” through the use of its ERC-20 compatibility standard. In fact, this has been the most common use for the ETH platform so far: to date, more than 280,000 ERC-20-compliant tokens have been launched.
In 2021, Ethereum plans to change its consensus algorithm from proof-of-work to proof-of-stake. This move will allow Ethereum’s network to run itself with far less energy and improved transaction speed. Proof-of-stake allows network participants to “stake” their ether to the network. This process helps to secure the network and process the transactions that occur. Those who do this are rewarded ether, similar to an interest account. This is an alternative to Bitcoin’s proof-of-work mechanism, where miners are rewarded more Bitcoin for processing transactions.
Built for the people
A powerful user friendly network who deliver the most scalable, fast and secure blockchain platform for real world applications with one of the most creative team in cryptoverse.
Biggest advantages : Creativity of the team, powerful technology built for internet scale, adaptative state sharding and lightning fast transactions at the lowest fee’s.
Biggest challenges : Adoption, complexity in tool development & expansion, fast growing demand.
Founders : Elrond was co-founded in late 2017 by brothers Beniamin and Lucian Mincu alongside Lucian Todea as a solution to the problem of blockchain scalability, which they thought to be the most pressing problem facing the industry. Before Elrond, Beniamin and Lucian Mincu co-founded MetaChain Capital, a digital asset investment fund, with Beniamin Mincu serving as CEO and Lucian Mincu as chief technology officer. The two also co-founded ICO Market Data, an aggregator of information around initial coin offerings.
Website : https://elrond.com/
The Elrond Team : https://elrond.com/team/
A NextGen Scalable, Value Transfer Blockchain Protocol
The technology to scale the decentralization platforms to support higher throughput in terms of transactions per second is in huge demand.
Technology like NFT(Non-Fungible Tokens), DeFi all has been making waves recently and has been using the power of Ethereum programmable blockchain to make their name in the crypto space, all this have lead to the creation of promising blockchain Projects/Protocols like
- Polygon
- Elrond
- Polkadot
- Algorand
- Cardano etc…
Elrond is a high-throughput public blockchain focused on providing security, efficiency, scalability, and interoperability by adopting two key elements: Adaptive State Sharding and a new Secure Proof of Stake (“SPoS”) consensus mechanism. Elrond is not just a blockchain protocol facilitating high transaction throughput, but it is a complete Defi, Fintech & IoT ecosystem. It provides a scalable & secure platform for building distributed applications called DApp’s.
In the crypto universe, there are some of the popular crypto’s with use cases like
- Bitcoin: A gold standard digital asset with amazing power to store value due to scarcity.
- Ethereum: The programmable blockchain
- Solana: Has got scale & speed to support blockchain innovation
Elrond seems to be the unique crypto project which combines the power of all the three attributes mentioned above, that’s why it is special.
Elrond’s blockchain protocol for smart contracts & DApps can process over >15k transactions per second with low block times (5s), negligible transaction fees, and fast finality for cross-shard transactions in a matter of seconds. This is one of the unique value propositions Elrond has to offer.
One of the key features which Elrond offers is smart-contract royalties, In this 30% of the fees can be reallocated to the smart contract author, isn’t it alluring
Compared to Ethereum, Elrond eliminates both energy and computational waste from PoW algorithms, by implementing a Secure proof of stake consensus, while enabling transaction parallelism via Adaptive state sharding.
Elrond’s approach to increased throughput, called “Adaptive State Sharding”, combines all three sharding types into a solution that improves communication inside the shards and dramatically increases performance through parallel processing.
The Elrond Virtual Machine is a dedicated smart contract execution engine built on WASM. It expands the family of languages available to smart contract developers to include Rust, C/C++, C#, Typescript. This means you can write smart contracts in whichever language you’re familiar with, compile it of WASM and easily debug its WAT human readable format.
Offer extremely fast transactions with the lowest fee in the Crypto verse. A creative team which offer user friendly tools which help fast adoption. Powerful Network with adaptative sharding (blockchain platform) for the new internet economy, decentralized applications and enterprise use. Its main selling point is its high scalability, stating that it is the first blockchain network in which state, network and transaction sharding have all been implemented. Elrond seeks to build up its ecosystem and establish EGLD as a store-of-value asset. In order to increase adoption, the project also supports developers building on the platform. The Maiar Exchange is coming in august or september. Total Supply for the egold will be only 22 277 023 EGLD
Highly Secured PoS(Proof Of Stake ):
Elrond validates each transaction by using the highly secured mechanism of Secure-Proof-Of-Stake. This consensus-building approach makes it innovative and futuristic, where validator nodes are selected for consensus out of a shard. It also innovates in the steps taken by the validators to complete the consensus process as efficiently as possible.
- SPoS selects validator nodes for consensus based on the amount of EGLD tokens staked by their operators. Each validator has an individual rating score that is taken into account. The Rating depicts the historical behavior of the individual validators and is taken into account during consensus.
- Validators with a higher rating are more likely to be selected. The rating of a validator is recalculated at the end of each epoch cycle, with a few specific exceptions when the rating is adjusted immediately.
- SPoS: Builds Consensus in two communication rounds with modified Boneh–Lynn–Shacham (BLS) multi-signatures.
Elrond DeFi will facilitate access to the following key DeFi services:
- Liquidity pools
- Automated swaps
- Synthetic assets,
- Lending
- Bridges(for interoperability )
- Maiar Wallet(Which is already available in the market )
- The launchpad and more…
Elrond’s DeFi 2.0 module reimagines the world of banking altogether. By unbundling its components and leveraging blockchain technology, they will be offering a much simpler digital solution for each of the problems lying in the current financial & banking world, which means all these financial services would be near-instant, inexpensive, programmable, and decentralized. Making them accessible to anyone anywhere via a mobile app
Maiar Dex: Maiar defi exchange is also slated to come alive soon in the coming few months, which will allow Swapping of digital assets instantly, globally, inexpensively, automatically
Elrond adoption Map to download