Alternative & Exciting L1 Ecosystems In Crypto 2021
Within the cryptocurrency market, many newcomers are already aware of the new blockchain protocols that have been gaining traction like Polkadot ($DOT), Polygon ($MATIC) and Solana ($SOL), but there are other protocols that are also creating vast ecosystems that are also revolutionizing the space. In this article we’ll touch on a few projects that have built robust blockchain solutions.
As we’re approaching the climax of this cycle’s bull-run, here are a few things that you might want to consider; especially if you’re planning to increase your Bitcoin stack by investing in different ecosystems that are looking very promising. Although this is not financial advice, it is common knowledge that some altcoins will offer a much better risk:reward (R:R) ratio and thus more profits than simply investing in Bitcoin.
Fantom is an almost 2-year-old Layer-1 blockchain that is compatible with the Ethereum Virtual Machine (EVM). The Fantom Foundation operates 2 divisions, namely the Fantom Opera Mainnet (with tools to encourage and support dApps) and the Fantom-Blockchain-as-a-Service (to boost the adoption of Fantom’s blockchain-based technology around the world).
Fantom has the following features:
- On-chain Governance with several community-led network upgrades already completed.
- Interoperability; Cross-Chain Swapping / Bridging with several protocols such as REN, AnySwap, Gravity, Clover, etc.
- DeFi opportunities such as trading, borrowing and lending, insurance, yield farming, etc. with protocols such as SushiSwap, Cream, Cover, SpookySwap, Popsicle Finance, Waka Swap, Zoo, ModeFi, etc.
- NFT platforms and projects such as SuperFarm, World of Umans, Fantums, etc.
- Wallets such as fWallet, Fantom Safe, MetaMask, etc.
- Explorers such as FTM Scan and Fantom Explorer.
Near’s dApp platform is based on the same technology as Bitcoin but is built with community consensus, database sharding, and usability as advances to the technology. Just one 1 year old, the Near protocol allows developers to create enterprise-ready blockchain solutions. On Near, developers can create frictionless and interoperable decentralized applications and run smart contracts. Near operates on a Thresholded Proof-Of-Stake mechanism.
Near has the following features:
- Cross-chain Bridging by platforms such as the NEAR Rainbow Bridge (allows bridging to Ethereum), Textile, Liquality,
- NEAR Protocol Wallet
- Staking & Delegating your
- NEAR Explorer
- NFT Platforms and Projects such as Mintbase, Paras, Satori, BerryClub,etc.
- DeFi projects such as Flux, CronCat, Rep Finance, Proximity, etc.
Avalanche is also a smart contracts’ platform that is built to launch dApps. It’s Solidity-compatible and claims to be the fastest blockchain in the industry based on time-to-finality (time it takes to confirm that all well-formed blocks within the blockchain will not be revoked) and more scalable than the other major ecosystems based on transactions per second (TPS).
Avalanche has the following features:
- DeFi protocols and projects such as Aave, AvaLaunch, BenQi, YieldYak, Pangolin, Penguin Finance, etc.
- Explorers such as Avax Explorer, AvaScan, and VScout.
- NFT projects such as Avaxtars, Kalao, FlashBack, Hodo, etc.
- Wallets like Avme, Coin98,
Conclusion
These are just some of the newer ecosystems that are blossoming in the crypto market. To stay up to date with all the developments happening in all the different ecosystems, make sure to follow their social media pages, telegram or discord channels, and websites.
Each ecosystem has projects tackling different areas from the traditional markets, such as finance, gaming, collectibles, etc. Find areas that you are drawn to and find interesting, and stay updated on the projects that are focusing on these areas. Being actively interested and involved is the best way to make sure you are on top of all new developments and potential investments.
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