Polkadot Series Part 3: Top Projects in Polkadot
Read my original article at Voice.
In my previous article (Polkadot Series Part 2: What Polkadot offers to its ecosystem projects) I have talked about what Polkadot is doing to encourage the various projects using its platform.
Projects have been building on Polkadot since 2018. An idea of the growth of the Ecosystem can be taken from the number of projects who have received Polkadot Grants.
In total 83 teams have received Polkadot Grants till now. Below is the list of grants by year
• 2018–9 grants
• 2019–51 grants
• 2020- 23 grants
These projects are diversified across various industry sectors
1. Smart Contract Chains:
Edgeware is a WASM smart contract platform which adopts a fundamentally different architecture. It is trying to create a system with lower coordination overhead. Its focus on governance ensures more transparency.
Built with a Substrate framework, Kulupu uses proof-of-work as its consensus method. Its innovation lies in combining a proof of work consensus engine with upgrades that do not require forks.
2. DeFi
Acala Network is a cross-chain DeFi platform that aims to be the financial hub of Polkadot. It provides strong fundamentals like a decentralized stablecoin, decentralized exchange, staking derivatives.
Akropolis has been in this field for a long time, with its initial implementation being in Ethereum. It is a customizable domain-specific financial protocol. It supports Turing-complete virtual machines. The project offers a choice between decentralized smart contract-based self-custody or nominating a regulated custodian.
Rio Chain is both mobile and desktop ready. It brings in tools like a multi-token wallet and block explorer.
3. Data curation network
These networks connect file storage chains into curated data sets
The very popular Ocean Protocol is a tokenized data service with a business, technical, and governance framework interweaved together. It allows to share data, storage, compute and algorithms and services in a secure manner
It has implemented staking on services to ensure the quality and reputation of the data.
Bluzelle acts as a decentralized database for Web3. Users pay Bluzelle to access storage space or read/write to the decentralized database. Bluezelle will bring on solutions like Oracles in the future.
4. Supply chain
Origin Trail is a TRAC token driven product tracing solution. Its solution, ODN is a Knowledge Graph layer -2 solution on Ethereum. Polkadot has integrated ODN to their ecosystem to be used by the projects building on it. In the future, Origin Trail plans to bring out an oracle framework, data marketplace, etc.
Dock provides verifiable credentials through its various tools. These can be used to create decentralized identities (DIDs) and also create, manage and present credentials
5. Oracles
Chainlink is building smart contracts in the Web 3.0 ecosystem with decentralized oracles to get reliable external data feed.
6. Gaming
Darwinia Network is a heterogeneous cross-chain bridge protocol. It focuses on Defi, Gaming, DEX, NFT market, etc.
7. NFT
Unique Network recently won the Hackusama competition. It is a Substrate based NFT chain. It provides game creators with solutions that can be quickly deployed in the mass market.
Check out the article I wrote about their NFTs The First Polkadot NFTs: SubstraPunks
8. Bridge
MathChain is a Smart Wallet Parachain which is based on Substrate. They are also the creator of the Math Wallet.
9. Scaling
The very popular Celer Network is a layer-2 scaling platform. Its innovative off-chain scaling techniques and incentive-aligned crypto-economics allow developers to create highly scalable decentralized applications.
Conclusion
Some of the projects in Polkadot are already quite famous. I have participated in the Testnet of a few of them and have seen the quality and professionalism they are showing. Also, the backend technology which Substrate is providing is excellent. We are also seeing a trend where some major Ethereum Projects (Chainlink, Origin Trail) are extending their support to the Polkadot Ecosystem). Some of the Polkadot projects are sure to break out and we will soon see Polkadot project competing with Ethereum.
Reference: Polkaproject
I would appreciate it if you leave your point of view in the comments for further discussions.
Read my previous article: Polkadot Series Part 2: What Polkadot offers to its ecosystem projects
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