Top 5 Promising Public Blockchain Projects in 2023
As the most important infrastructure in the crypto world, recent years have seen the rapid development of public blockchains. According to the statistics of DefiLlama, as of December 2022, there are 159 public chains registered, an increase of 289% compared to 2021. In addition, the total value locked (TVL) of each major public chain has also reached record highs repeatedly, including the peak in December 2021, with a total TVL of $180 billion. In this wave of public chain development, countless phenomena and applications have been born, and unimaginable wealth myths have also been created. However, although new public chains are developing rapidly, they still face many problems in their commercial application. For example, the extremely hot Solana blockchain compresses node performance to increase operating speed, making it less decentralized and more vulnerable to node failure; Near protocol has a sharding scheme with asynchronous cross-contract calls, which increases the complexity of the system; Binance Smart Chain (BSC) is overly dependent on binance’s traffic, and the low threshold for entry makes too many fraudulent projects in the ecosystem. As we enter the blockchain 3.0 era, higher performance, security and commercial stability requirements are sure to be placed on public chains, so what are the five most promising public blockchain projects in the next 5-10 years?
1. Aptos
Aptos has attracted a lot of attention since its birth. It not only has the original core team of Libra, but also has almost all the top institutions in the cryptocurrency industry, such as A16z, Binance Labs, Coinbase Ventures and Multicion Capital. It is intended to build the first layer of the network that is “the most secure and scalable”, and to increase the transaction speed to 160,000 transactions per second. Although this blockchain has been criticized by users for its overvaluation and selfish token distribution mechanism, its future development is still worth being optimistic about with its strong technical concept and first-class industrial resources.
2. Sui
Sui, also founded by the original core team of Libra, is developed in the same Move language as Aptos, and has also received funding from FTX, Coinbase, Binance, A16 and other top institutions. The team includes their CEO Evan Cheng, former Head of R&D at Novi and Director of Engineering at Meta (Programming, Languages & Runtime), who worked at Apple for 10 years, and Chief Technology Officer Sam Blackshear, former Principal Engineer at Novi, who is dedicated to Move and has a strong team. With a focus on asset security and performance improvement, although it started a little later than Aptos, this blockchain is not inferior to Aptos in terms of ecological development and public concerns. In the future, both Sui and Aptos are likely to become one of the strongest public chains after Solana.
3. BFM
Compared to Aptos and Sui, BFchainMeta is a fairly low-profile public chain. Unconcerned with marketing hype, the team has been working on the research and development of blockchain technologies for nearly seven years, and has made epoch-making breakthroughs in consensus mechanisms, data storage, private key management, cross-chain resources and other aspects. Currently, it has obtained more than 40 international patents on blockchain. In addition, BFChainMeta has built a blockchain system based on mobile terminals, which breaks the limitation that traditional blockchain projects must run on personal computers, thus becoming the first public chain in the world to develop mobile blockchain applications. Due to its dedication to technological development, strong innovation ability and significant breakthroughs achieved, it deserves an optimistic future.
4. LayerZero
LayerZero is a lightweight cross-chain interoperability protocol for DApps. It has achieved better compatibility in chain security and operating costs, and can effectively solve the current problems of DApp projects, including the inability to achieve cross-chain synchronization and liquidity fragmentation. Stargate, the first cross-chain product launched by the project, has also caused a huge reaction in the industry. In an era of multi-chain interconnection, cross-chain agreements will become a rigid demand and have a large market potential. As a better compatible protocol in terms of cross-chain security and operational costs, LayerZero will surely take its own place in the crypto market.
5. Aleph Zero
Known to be faster, safer and more decentralized, Aleph Zero (Azero) is far ahead of existing mature public chain projects in terms of transaction speed, with a maximum of 100,000 transactions per second. Based on a Directed Acyclic Graph (DAG) algorithm, Azero allows simultaneous writing and multiple blocks to be packed simultaneously, thus greatly improving network efficiency. In addition to high performance, Azero also focuses on privacy, which is receiving more and more attention with the continuous development of blockchain, especially in commercial use. The project has a strong team consisting of graduate students from prestigious universities and highly sophisticated talents with years of work experience in Fortune 500 companies, all of whom have excellent R&D and innovation capabilities. With its high performance and focus on privacy, Azero has a bright future.
Since the launch of Ethereum in 2015, the smart contract era has been created, and since then public blockchains have made major breakthroughs in performance, scalability and other aspects with the birth of excellent public chains such as Solana, Avalanche and BSC in recent years. year. However, the development of public chains goes far beyond this, and there is still more room for public chains to develop their technology. Therefore, we must keep an eye on some public chain projects with advanced technology, a strong team and significant breakthroughs! Perhaps the next leading project will be born among them.
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