Top Layer-1 Crypto Projects to watch in 2022
2 According to a Chainalysis.com global cryptocurrency adoption report, crypto adoption increased by 880% in 2021! Less than 5% of the world population transacts in crypto as of December 2021, as per the latest reports. But that number will grow rapidly considering the potential of scalable Web 3.0 applications. And that’s why you can expect several new blockchain projects to be launched in 2022 and beyond. The list below includes 13 promising Layer 1 blockchain/crypto projects to watch in 2022. We have summarized these projects in terms of technical capabilities, ecosystem, roadmap, and key differentiators. So, let’s have a look at the exclusive Layer 1 crypto projects list.
Kadena ecosystem comprises Layer 1 public chain protocol called ‘Chainweb’ and a layer 2 permissioned protocol called ‘Kuro.’ Kadena is the only sharded and scalable Layer 1 Proof of Work (PoW) network in use today. Kadena is indeed one of the best Layer 1 crypto projects
Kadena was founded in June 2016 by Stuart Popejoy and Will Martino, both former JP Morgan executives. It enables businesses and organizations to efficiently transact and share data in a decentralized manner. It also seeks to address the issues that current generation blockchains face – such as speed, scalability, and security.
2022.1.Kadena
Bitcoin is a Proof of Work (PoW) blockchain; however, smart contracts and scalability are two issues it does not address. There are other PoW blockchains that do feature smart contracts. Ethereum is an example, but it has scalability issues. Kadena fixes this by being a scalable smart contracts platform. Kadena has 20 braided chains running at the same time, significantly improving its capacity and security. Chains can add multiple blocks simultaneously while crossreferencing each other’s past. This makes it very difficult for bad actors to function against honest nodes.Differentiators
Next on our list of crypto Layer 1 projects is Solar Network. Solar Network is a fully decentralized energy-efficient blockchain that utilizes a Byzantine Fault Tolerance (BFT) consensus mechanism. The consensus is achieved through the Delegated Proof of Stake (DPoS) algorithm powered by its native token called SXP. It is secured by 53 voted-in delegates that produce blocks and validate SolarDifferentiatorstransactions.willbeentirely run by SXP holders with no central company or management. It claims to be a truly decentralized autonomous organization (DAO) Solar’s value proposition enables plugins to be developed in Javascript and Typescript languages at layer 1. This allows for native smart contracts and scalability on the network 2. NetworkSolar
Shardeum is an EVM-compatible smart contract Layer 1 blockchain on which decentralized applications (DApps) can be deployed seamlessly. It is a dynamically sharded network with infinite scalability, true decentralization, and solid security. It will be the first network built to scale and accommodate billions of daily users by solving the scalability trilemma – this is considering almost all Web 3.0 networks today have issues either with decentralization or scalability. AsidesDifferentiatorsfromaddressing scalability trilemma, the Layer 1 platform will be EVM compatible to make it easy to host and port DApps on its network with immediate finality and low latency. Each node added to the network will increase its throughput, making it linearly scalable. The network will also use separate ‘archive nodes’ for storing data and ‘validator nodes’ to validate transactions. This enables low-configuration devices to participate in the network, earn incentives and keep the network truly decentralized. The unique consensus mechanism and architecture in Shardeum help it to scale with very low and stable gas fees
3. Shardeum