In the blockchain ecosystem, tokens are a vital component of any successful business. These digital assets represent services that cost money to use and generate revenue for project creators. In this list, you will find 13 ERC-20 token projects with large potential upside in 2022
The “best polkadot parachain projects” are the 13 most promising tokens in the Polkadot ecosystem. The list is compiled by a team of blockchain experts and includes some of the best projects on the market today.
Polkadot has become a destination for many developers, blockchain users, and even whole crypto ventures as one of the major Ethereum alternatives. As a result, it has created a rich and diversified ecosystem that continues to improve with each new addition to its network.
However, not all initiatives have the same potential, and although some seem to be destined for success, others will fade away over time. As an investor, you must be able to identify the ones that will survive in the long term. There’s no way to know which projects will be there in five, 10, or more years, but you may do your best to examine their technology, use cases, ambitions, and other factors and make an educated guess.
To assist you in getting started, we’ve compiled a list of the top 13 Polkadot ecosystem projects that we feel have great promise. Check them out in our list below, and if you like one or more, do some further study and consider investing, or at the very least keep a watch on their progress in the months and years ahead.
1. Polkadots are a kind of flower.
The first on our list is Polkadot (DOT), which is the Polkadot ecosystem’s native cryptocurrency. DOT is the core crypto of the whole network, and the more diverse its ecosystem becomes in terms of goods, the more use cases the project will have.
The Polkadot network was created in order to solve difficulties with prior crypto projects, such as scalability, high gas costs, limited throughput, long transaction times, and so on. The team came up with its own approach based on parallel chains running alongside the main chain. These so-called parachains exist to take over a part of the network’s task and lessen the amount of work that the main network needs to handle.
Parachains also have the unique capacity to link to other blockchains, allowing them to create a network and offer interoperability to the blockchain industry, with Polkadot at its center, serving as a crossroads for information, money, and digital assets.
Visit our Polkadot Investing Guide for more information.
2. Kusama
Following Polkadot is Kusama (KSM), which bills itself as Polkadot’s “wild cousin.” Kusama was created as a canary network for Polkadot, a form of network where developers could construct and test new projects before they were implemented on the Polkadot chain. Many of the projects, however, elected to remain and became Kusama’s native projects, which are not available on other networks.
Kusama was able to distinguish itself from Polkadot’s testnet as a bonafide network. Because the two chains use almost similar technology, all of Polkadot’s advantages are available on Kusama, as well as several projects that are exclusive to this chain.
But, thanks to its highly scalable, interoperable sharded network, Kusama has been attracting a lot of projects, and the appeal is that it has a lot of features that Polkadot does not, which are still in the experimental phase, so investors tend to go to Kusama to check out the projects and learn early on which ones to invest in.
Visit our Investing in Kusama guide for more information.
3. Dock
The third project on the list is Dock (DOCK), which is a platform designed to make it easy for organizations and developers to generate, maintain, and display digital credentials. One of the major aims of the blockchain industry is to enable immediate verification at any moment while keeping all data secure, unchangeable, and completely governed by the owner.
Dock is revolutionizing how this information is managed, shared, safeguarded, and more by delivering this solution. The project also features its own trusted network of validators, as well as a separate blockchain, an integrated payment and incentivization token.
Visit our Investing in Dock guide for more information.
Moonbeam 4
Moonbeam (GLMR), the fourth project on our list, is an Ethereum-compatible smart contract parachain for the Polkadot ecosystem. The project’s purpose is to make it exceedingly simple to construct or relaunch Solidity programs in a Substrate-based environment using Ethereum’s development tools.
It’s more than an EVM implementation, however; it’s also a highly-specialized parachain that matches Ethereum’s Web3 RPC, keys, accounts, logs, subscribers, and more. It is also unrivaled in terms of Ethereum compatibility, which is only one of the reasons for its inclusion on our list.
Visit our Moonbeam Investing Guide for more information.
5. Ankr
Moving on, Ankr (ANKR) is a decentralized blockchain infrastructure provider that manages a diverse network of nodes spanning more than 50 PoS networks throughout the world. With that kind of infrastructure, the project is well positioned to propel the digital currency system forward while also powering a comprehensive suite of multi-chain capabilities for Web3 users.
These tools include typical APIs for blockchain developers, a completely decentralized multi-chain network of RPC nodes, and Ankr Scan, which enables users to see information across blockchains.
Visit our Investing in Ankr guide for more information.
6. MXC
Moving on to number six, MXC is a Web 3.0 infrastructure meant to integrate the metaverse — one of the most prominent trends in blockchain technology — with the actual world. The MXC network employs a Proof of Participation method, with Supernodes providing a free, open, and scalable network.
Meanwhile, the project’s native coin, also known as MXC, is utilized for a number of purposes, including NFT administration, network device provisioning, supernode operation, satellite and LPWAN network mining, governance, and more.
Visit our MXC Investing Guide for more information.
Origintrail #7
Origintrail (TRAC), which is halfway down the list, is the world’s first decentralized knowledge graph and is used to organize humanity’s most valuable assets. Not only that, but also makes this information simple to find and verify, therefore increasing its worth. The initiative is linked to the physical world, including areas like healthcare, education, and supply chains, as well as art, fashion, and other creative industries.
Blockchain, smart contracts, the DeFi sector, Metaverse, and the NFT business are all connected to the digital world. It connects everything in a single Reality, blurring the boundaries between the digital and real worlds.
Visit our Investing in Origintrail guide to learn more.
8. Aleph.im
Aleph.im (ALEPH) is an open-source cross-chain network with a decentralized database, as well as compute, file storage, and other services. The project’s primary goal is to enable decentralized applications and protocols become genuinely decentralized by removing any remaining traces of centralization in their design.
As a result, the initiative intends to boost the DeFi ecosystem and help it realize its full potential.
Visit our Investing in Aleph.im guide for more information.
9. DIA
DIA, which stands for Decentralized Information Asset, is ranked tenth. This is an open-source oracle platform that enables market participants to obtain, deliver, and distribute trustworthy data as needed. In the smart contracts ecosystem, DIA’s purpose is to operate as an ecosystem for open financial data.
It also wants to bring together data analysts, data providers, and data users to form a community dedicated to working with data in a trustworthy and verifiable ecosystem, complete with a bridge that transports new data from off-chain sources to the blockchain, enabling smart contracts, dApps, and other blockchain products along the way.
Visit our Investing in DIA guide for more information.
Celer Network, No. 10
Celer Network is next, with its architecture safeguarded and maintained by State Guardian Network, its own blockchain. The chain employs the DPoS algorithm, which enables users to stake their coins and receive rewards while delegating transaction validation to delegates.
The project’s purpose is to revolutionize the creation and usage of multi-chain dApps. Instead of deploying several copies of the same smart contract on each chain, dApp developers may simply write inter-chain-native dApps. This is a novel, perhaps revolutionary approach to dApp development that might have a huge impact in the future.
Visit our Celer Network Investing Guide for more information.
11. Ren
Then there’s Ren, an open protocol designed to promote compatibility and liquidity across various blockchain systems. RenVM, the project’s virtual machine mainnet, was established, and it employs its native token, REN, as a bond for people who host the RenVM nodes.
Ren’s main objective, though, is to improve interoperability and make blockchain more accessible. DeFi is similar in that it would eliminate liquidity barriers across various blockchains.
Visit our Investing in Ren guide for more information.
Phala Network (#12)
Phala Network, a privacy-focused cloud computing provider, is nearing the Conclusion of the list. Phala provides computational capability comparable to standard cloud services while also protecting managed applications’ privacy. It was built using TEE- Blockchain Hybrid Architecture, which lets developers to construct and deploy private smart contracts.
The project will function as one of Polkadot’s parachains, with PHA serving as the native token for accessing trustworthy computing resources, paying data exchange fees, maintaining security, and governing the initiative.
Visit our Investing in Phala Network guide for more information.
Bounce Token (#13)
Finally, there’s the Bounce Token, also known as the Bounce Finance Governance Token (AUCTION). Bounce is a decentralized auction platform that combines governance, liquidity mining, and staking, among other DeFi activities. The scarcity of resources is its primary premise, which generates a highly competitive exchange environment.
The inclusion of swaps was inspired by Uniswap and the project’s members’ access to unlimited liquidity. Bounce, on the other hand, is focused on the opposite situation, providing a competitive atmosphere for a limited amount of tokens, NFTs, and similar assets that may be auctioned off in a variety of ways.
Visit our Investing in Bounce Token guide for more information.
Conclusion
Polkadot’s ecosystem is vast, and these are just a few of the exciting projects that are now open for investment and seem to have a lot of promise in the future. As you can see, the ecosystem has a lot of variety, so investors looking for fresh investment possibilities and something distinctive and unique to diversify their portfolios have lots of alternatives.
The “best dapps on polkadot” is a list of 13 tokens that are expected to have a good performance in the next few months.
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