In the crypto ecosystem, things change quickly. Although we can make predictions for different cryptocurrencies, some of the metrics that seem essential today may suddenly change in a matter of months.
The last decade was the era of ICOs, which led to many becoming millionaires as well as lots of pump and dump schemes in the market. After the crypto boom in 2017, it became clear that there was no way that governments across the world were going to submit willingly to a new monetary system.
Many platforms have popped up since then focusing more heavily on the fundamental technical aspects of blockchain technology. Also, Dapps (Decentralised Apps) have increased in popularity, with a steady stream of applications developed on popular blockchain platforms.
The year 2019 suggested that the crypto space was gradually developing into a sustainable industry. As we enter a new decade, we will see some important events that will likely shape the market in 2020.
In this article, we will be looking at five of the top blockchain projects to look out for in 2020. After reading, you will have the necessary information about these projects to be able to make an informed investment decision.
So, let’s review some of the most promising blockchain platforms and discuss why they will be among those to watch out for in 2020.
VeChain is one of the oldest projects on this list, having launched in 2015. VeChain is focused on building an ecosystem that integrates blockchain and IoT technology. The platform has been able to build a blockchain network that enables a transparent flow of information over the years.
It is also one of the few blockchain projects that has developed solutions that have been integrated by mainstream businesses across different sectors. Its extensive list of solutions and robust blockchain infrastructure makes it one of the top blockchain projects in the crypto space.
VeChain has a comprehensive list of partnerships which includes automobile giants BMW and Renault.
Matic Network is one of the fastest-growing blockchain platforms within the crypto space. The platform provides scalability through its Plasma-based second layer solution which leverages the security and decentralization of the Ethereum blockchain.
One area where Matic Network has made massive inroads is their outstanding rate of adoption. There are already more than 40 Dapps building on Matic to improve their performance, an increasing number which is expected to grow exponentially as they continue to approach the launch of their final mainnet.
Since its IEO in April 2019, Matic Network has achieved widespread recognition within the crypto space, being one of the only projects backed by both Coinbase Ventures and Binance. Its native token MATIC was among the top three most mentioned new coins on Twitter in 2019 which shows the popularity and confidence in the project from the wider crypto community.
Matic Network has also embarked on a partnership with decentralized crypto exchange Whitebit. Whitebit boasts over 150,000 users and the collaboration is expected to bring better trading terms for MATIC holders on the exchange.
Matic Network is expected to launch its mainnet in the first quarter of 2020 which will signal the deployment of its fully-fledged infrastructure to provide the Dapps building on Matic with a full suite of features.
Cardano is considered as one of the more novel blockchain projects within the crypto space. This is partly due to its CEO Charles Hoskinson, who was one of the original creators of Ethereum. Cardano looks to build one of the top smart contract networks with the intention of resolving the problems of scalability.
Cardano was recently accorded as the busiest blockchain project in 2019 by Santiment report, which highlighted the major technical developments that have been released by the blockchain platform.
Its highly anticipated Shelley Incentivized Testnet was launched in December, signaling a major development within its ecosystem. Since its launch, Cardano has witnessed massive growth within its network with more than 500 staking pools already established.
Cardano has already begun 2020 the way it finished 2019, with the platform already planning to launch a hard fork by February. In addition, Cardano has already inked a strategic partnership with the Uzbekistan government to form a blockchain task force.
Waves is another top blockchain project that has shown potential in recent years. The open-source platform aims to increase speed and scalability with an advanced mainstream blockchain implementation.
Waves has also become an ideal platform for ICOs and developers, who find it an accessible platform to develop tokens. The blockchain platform makes it easy to create a multiple-currency wallet and offers the opportunity to invest in different digital assets.
The platform has also secured notable partnerships on its journey so far and lists auditing firm Deloitte Cis as one of its key partners.
Zilliqa is regarded as one of the most promising platforms within the crypto community. Zilliqa is built on a new programming language, Scilla, and is viewed as one of the competitors to Ethereum.
One area which Zilliqa is looking to tackle is scalability, which is an issue faced by the two major blockchains (Bitcoin and Ethereum).
Zilliqa aims to solve this issue by increasing the number of nodes connected to the network, which would lead to higher transaction speeds.
Zilliqa has also embarked on partnerships with top organizations such as drinks giant Pepsico, further validating its position as a top blockchain platform to look out for in 2020.
That wraps our list of top five blockchain projects to look out for in 2020. This list is by no means exhaustive as the blockchain industry is ever dynamic with new projects springing up daily.
However, the five projects listed above are the ones that we feel could have a great impact in 2020 and are certainly worth keeping a close eye on.