So far, this year has been a thrilling one for cryptocurrency investors. The industry's environment has been reshaped by the emergence of new markets and innovations. These developments also opened up new possibilities for both developers and investors. Although keeping track of these trends may seem unlikely, some have risen above the competition to become major points of interest. Here are ten projects to keep an eye on in 2021.
Avalanche (AVAX)
Avalanche is known as a "platform of platforms." To provide users with some unique functionality and capabilities, the network runs on three native blockchains. When building Dapps on Avalanche, Dapp developers can escape the Ethereum network's high Gas fees and centralization. The network, for example, includes a blockchain dedicated to converting Ethereum-based Dapps to the Avalanche ecosystem.
Avalanche's stats are impressive. The network outperforms top payment processors like Visa and Mastercard in terms of scalability. It can complete transactions with confidence in less than a second. The platform has a transaction rate of 6,500 transactions per second. It's also perfect for developing and minting money, as well as creating new blockchains, thanks to its low Gas fees and programmability.
Ethereum 2.0
Ethereum 2.0 is still in the early stages of growth. The Medalla Testnet was launched in Phase 0 to enable daily users to start staking on the network. Ethereum is the second-largest Proof-of-Work blockchain in the world. Converting to a PoS network is a major undertaking. However, the upgrade is accepted because of the numerous advantages acquired.
Ethereum 2.0 would lead to the reduction of existing Gas prices. These payments are correlated with transaction and smart contract execution. Regrettably, they are already at all-time highs. Additionally, by adding a sharding mechanism and increasing network bandwidth, the upgrade would aid scalability.
Pancakeswap
PancakeSwap is a project that has received a lot of attention in recent months. The platform is similar to Uniswap in that it is a decentralized exchange, with the exception that Pancakeswap runs on the Binance Smart Chain. With $4,720,303,152 in locked liquidity, the Dapp is currently the largest on the Binance Smart Chain.
PancakeSwap provides a decentralized trading environment with a number of liquidity pools. The exchange allows everyone to trade BEP-20 and a number of ERC-20 tokens. Pancakeswap is an AMM (automated market maker), which means that the protocol seeks trades to execute your order automatically. This process decreases slippage and increases the trading environment's responsiveness.
Terra (LUNA)
Terra is a decentralized financial infrastructure and blockchain protocol that uses a self-adjusting token supply to keep the value of its stablecoins tied to their underlying properties. The network's creators describe it as "programmable money for the internet." Terra has a stablecoin protocol, an oracle scheme, smart contracts, and LUNA, a native cryptocurrency.
Users benefit from the network's architecture, which includes instant settlements, low fees, and seamless cross-border exchange capabilities. Terra is a permissionless and transparent financial platform that can run on a variety of blockchains. Developers may use the network to program in a variety of languages, including Rust, Go, and AssemblyScript.
DASH
DASH is a long-running project that established itself as a privacy coin. The platform has recently rebranded and shifted away from the privacy coin space in favor of a more mainstream payment scheme. DASH has a much higher scalability than other early blockchains. Every 2.6 minutes, the network adds a new block, which equates to about 56 transactions per second.
DASH is still as innovative as it was when it first came out. To control the network's complexity, the coin employs the Dark Gravity Wave protocol. The network's difficulty, in particular, actively changes with each block, making it extremely sensitive. DASH is notable for being run by a DAO, which gives all holders a say in its growth.
OpenSea
Opensea is one of the most common websites for buying, selling, and trading NFTs. When more of these one-of-a-kind tokens sell for astronomical prices, NFTs (non-fungible tokens) continue to make headlines. For these tokens, Opensea remains a famous exchange. At this time, there are over 4 million products online.
Investing in NFTs is simple with OpenSea. At a glance, you can see all of the important information about the token. Listing history, sales volume, rarity, and other important characteristics are all available. Users may participate in auctions or buy directly from the market. Another appealing aspect of the marketplace is that you just have to pay a fee for your first offering. All subsequent bids are completely open.
EOS
Because of its functionality, EOS has recently gotten a lot of coverage. It started from the ground up to build this next-generation blockchain ecosystem to make Dapp creation easier. Unlike Ethereum, which charges a fee for each smart transaction, EOS has a special mechanism that lowers transaction fees and makes the blockchain more flexible than its rivals.
EOS is an open-source project that gives developers complete accountability. To boost performance, EOS Dapp developers can use the network's server hosting and cloud storage. EOS is a Proof-of-Stake network in which blocks are accepted every 0.5 seconds. There are currently over 100 Dapps available on the platform, with several more in progress.
Conclusion
There are a lot of improvements happening in the crypto-sphere right now. Each of these projects provides a valuable service to the consumer that is in high demand. As a result, it's easy to see these channels rising in popularity in the coming months.
