With the introduction of transparency, decentralization, and secure solution, blockchain technology is regarded as the innovative force which is transforming different industries. Different industries have been established within the blockchain ecosystem, harnessing the potential of blockchain technology to develop modern products and services.
In this article, we will emphasize the top most exciting blockchain startup for newbies, highlighting their specific approaches, and contributions to the blockchain space.
1. Ethereum ($ETH):
New crypto coins and decentralized applications can be created using Ethereum on its network. Ethereum brought about the idea of smart contracts which plays a vital role in the crypto industry. Ether is the native token of the Ethereum network. Ethereum has a scalability nature, and as a result of that; it has gained much attention in recent years and much adoption from different investors across the world.
2. ChainLink ($LINK):
It is a decentralized network that provides information to smart contracts and also connects smart contracts to real-world data. Using Chainlink, the challenge faced by off-chain information sourcing by smart contracts can be solved. Through the decentralized network of Oracle, the $LINK network provides accurate information to smart contracts and APIs. It has a native token called $LINK which can be used as a medium of payment for smart contracts that utilizes the data provided by the link network. In decentralized finance (DEFI), supply chain systems, and sectors it has been significantly adopted in those sectors.
3. Ripple ($XRP):
Ripple is a digital currency and a payment system that was developed to carry out international transactions quickly and efficiently. Via blockchain-based payment protocol called XRP ledger, transactions are being secured on the XRP ecosystem. On the ripple blockchain, $XRP operates as the role of a bridge currency, allowing smooth transactions between several fiat currencies. Ripple is a significant player in the payments cross-border as a result of their collaborations with different financial institutions.
4. ConsenSys ($SYS):
This blockchain software helps to create applications, infrastructure, and data for the Ethereum ecosystem. ConsenSys is crucial in influencing the landscape of decentralized finance and encouraging blockchain adoption. It provides different ranges of goods and services, such as; infura, Quorum, and metamask to assist developers, enterprises, and individuals in taking advantage of blockchain technology.
5. Coinbase:
Coinbase exchange is a leading trading platform for experienced traders and it is a famous exchange due to its credibility and security cautions. Coinbase exchange brings both amateur traders and institutional traders who are searching for a reliable exchange to trade and invest in. However, it is important to note that coinbase exchange comprises many kinds of cryptocurrency pairs. Coinbase exchange also offers crypto custodial services and has been the force behind cryptocurrency adoption nationwide.
6. Circle:
This is a blockchain technology-based financial company that solve real-life problems using technology for both an individual and firms. One of the famous products it offers is USD (USDC), a stablecoin that is pegged to the united states dollar just like USDT. With the help of USDC, transactions can be carryout in a fast and efficient manner. In decentralized finance, circle innovative solutions have been famous in recent years.
7. Brave:
Brave is a web browser that rewards content creators using blockchain technology and also enhances user privacy. Using Basic Attention Tokens (BAT) assists publishers and content creators by earning the token. Its special strategy for an online advertisement has attained traction which determines an option for a conventional ad-supported browsing experience.
8. Solana ($SOL):
Solana is created to assist projects that are developed on decentralized applications (DAPPs) and decentralized Finance (DEFI). However, it is a blockchain platform that helps to execute transactions in a fast and less expensive manner making it suitable for high-frequency trading, decentralized exchange, and scalable applications. For staking, investments, or performing other transactions on the Solana ecosystem, $SOL was created as its native token.
9. Polkadot ($DOT):
Polkadot is used as a governance and bonding token and it has a native coin called $DOT. This is a multi-chain platform that makes it feasible for numerous blockchains to communicate with one another. It strives to build a network that is decentralized and accessible that can render the transmission of data between several chains. It also aims to foster collaboration between several blockchain networks and resolve any challenge relating to blockchain decentralization.
10. Aave:
Aave is built on the Ethereum ecosystem, it is a decentralized lending and borrowing platform. It allows individuals to deposit cryptocurrencies, earn interest, and borrow assets by collateralizing their assets such as Ethereum. Aave has a flash loan functionality as a unique feature. This feature enables individuals to borrow assets with no collateral during transactions. The Aave platform has become one of the most important DEFI platforms and has contributed substantially to the development of decentralized finance (DEFI).
Summary
The blockchain startups listed and discussed above are a fraction of the exciting advancements within the blockchain ecosystem. Most of these blockchain startups have made much impact in various sectors such as financial institutes, decentralized applications, data storage, etc.
The future of decentralized finance will continue evolving by the permission of transparency to every transaction as blockchain technology continues to advance and mature.
