Zilliqa

A Deep Dive Into Zilliqa And Metapolis

Newbie Catchup: The A-Z of NFTs

## What Is Zilliqa (ZIL)?

Zilliqa is a public, permissionless [blockchain](https://coinmarketcap.com/alexandria/glossary/blockchain) that is designed to offer high throughput with the ability to complete thousands of transactions per second. It seeks to solve the issue of blockchain scalability and speed by employing sharding as a second-layer scaling solution. The platform is home to many [decentralized applications](https://coinmarketcap.com/alexandria/glossary/decentralized-applications-dapps), and as of October 2020, it also allows for [staking](https://coinmarketcap.com/alexandria/glossary/staking) and [yield farming](https://coinmarketcap.com/alexandria/glossary/yield-farming).

Development work officially started on Zilliqa in June 2017, and its testnet [went live](https://blog.zilliqa.com/zilliqa-testnet-v1-0-release-codename-red-prawn-27974ca46ecb) in March 2018. A little over a year later, in June 2019, the platform [launched](https://blog.zilliqa.com/zilliqa-mainnet-the-launch-and-beyond-4cd7e113369f) its mainnet.

The native utility token of Zilliqa, ZIL, is used to process transactions on the network and execute smart contracts.


### Who Are the Founders of Zilliqa?

Zilliqa was first conceived by Prateek Saxena, an assistant professor at the National University of Singapore School of Computing. Saxena and several students in the School of Computing published a paper in 2016 that outlined how a sharding-focused blockchain could improve network efficiency and speed.

Around the same time, Saxena co-founded Anquan Capital alongside Max Kantelia, a lifelong finance and tech entrepreneur, and Juzar Motiwalla, former president of the Singapore Computer Society. The company incorporated Zilliqa Research in June 2017 to develop the Zilliqa network, bringing on Dong Xinshu as its CEO, Yaoqi Jia as its chief technology officer and Amrit Kumar as its chief scientific officer. All three previously worked as research fellows at the NUS School of Computing.


#### What Makes Zilliqa Unique?

Zilliqa [claims](https://www.zilliqa.com/platform) to be the world's first public blockchain to rely entirely on a sharded network. This allows it to achieve high throughput and a high rate of transactions per second, which it says solves the scalability issue. Because each shard processes transactions individually, as the network grows and the number of shards increases, the number of transactions that can be processed per second also increases. As well, records are immediately added to the Zilliqa blockchain after being processed, meaning that no additional time for confirmation is required.

Zilliqa seeks to become the blockchain of choice for large-scale enterprise use, including among the advertising, gaming, entertainment and financial services and payments industries. In its 2018 position paper, its team [states](https://docs.zilliqa.com/positionpaper.pdf) that the platform "aims to rival traditional centralized payment methods such as VISA and MasterCard."

Both Anquan Capital and Zilliqa Research, the company responsible for developing Zilliqa, hold significant reserves of ZIL.

As of 2021, the Zilliqa network is an active network that runs over [millions of transactions](https://viewblock.io/zilliqa/stat/txCountHistory) each month. The blockchain has also been constantly scaling, going from averaging over 900 blocks produced a day when its main net launched to presently producing [over 2500 blocks](https://viewblock.io/zilliqa/stat/blockCountHistory) a day.


#### **Related Pages**:

Learn about the largest blockchain to consider incorporating sharding, [Ethereum](https://coinmarketcap.com/currencies/ethereum/).

Learn about [Harmony](https://coinmarketcap.com/currencies/harmony/), another high-throughput, sharded blockchain project.

Want to better understand crypto markets? Read CoinMarketCap's in-depth guide on [tokenomics](https://coinmarketcap.com/alexandria/article/what-is-tokenomics).

Stay up to date on the ins and outs of crypto with the [CoinMarketCap Blog](https://blog.coinmarketcap.com/).


#### How Many Zilliqa (ZIL) Coins Are There in Circulation?

Zilliqa has a fixed maximum supply of 21 billion tokens. ZIL was first [made available](https://blog.zilliqa.com/more-details-on-zilliqas-token-generation-event-4e1b78e0cf5a) for sale as an [ERC-20](https://coinmarketcap.com/alexandria/glossary/erc-20) token as a part of a token generation event that concluded in January 2018. The tokens were subsequently transferred to the Zilliqa mainnet in a token-swap event that [concluded](https://blog.zilliqa.com/zilliqa-successfully-wraps-up-token-swap-f8942e1ce743) in February 2020.

Before launching, Zilliqa generated 60% of all tokens (12.6 billion ZIL) to be distributed at the token generation event, and the remaining 40% (8.4 billion ZIL) will be created through the mining process. Ten percent of all tokens (2.1 billion ZIL) were reserved for Anquan Capital, 12% (2.52 billion ZIL) for Zilliqa Research, and 5% for contemporary and future Zilliqa team members — all of which were announced to be distributed quarterly over a three-year period.

Zilliqa is designed such that all tokens will be mined within 10 years, with the block mining reward slowly decreasing. According to its [whitepaper](https://coinmarketcap.com/alexandria/glossary/whitepaper), the project [aims](https://docs.zilliqa.com/whitepaper.pdf) to have 80% of the tokens (16.8 billion ZIL) mined within the first four years and 20% (4.2 billion ZIL) in the remaining six years.


### How Is the Zilliqa Network Secured?

The Zilliqa network is secured through a practical [Byzantine Fault Tolerance](https://coinmarketcap.com/alexandria/glossary/byzantine-fault-tolerance-bft), or pBFT, [consensus](https://coinmarketcap.com/alexandria/glossary/consensus) protocol, meaning that at least two-thirds of all nodes must agree that a record is accurate in order for it to be added to the blockchain. Each Zilliqa blockchain shard relies on a group of nodes to confirm a subsection of all the transactions, and once each shard has reached a consensus, a second group of nodes confirms the shards' collective results and adds a new block to the blockchain.

The network uses elliptic-curve cryptography to secure its consensus protocol and allows for multisignatures. In addition to the pBFT consensus protocol that secures its transaction records, Zilliqa also uses a [proof-of-work](https://coinmarketcap.com/alexandria/article/proof-of-work-vs-proof-of-stake) algorithm to assign node identities and generate shards.

Zilliqa [developed](https://www.zilliqa.com/language) a new language, Scilla, for its [smart contracts](https://coinmarketcap.com/alexandria/glossary/smart-contract). Short for Smart Contract Intermediate-Level Language, Scilla is a safety-focused language intended to automatically identify and eliminate security vulnerabilities at the language-level and make it easier to formally verify the safety of smart contracts through mathematical proofs.


### Where Can You Buy Zilliqa (ZIL)?

Zilliqa's native token, ZIL, is listed on several major [cryptocurrency](https://coinmarketcap.com/alexandria/article/what-are-cryptocurrencies) exchanges — including [Binance](https://coinmarketcap.com/exchanges/binance/), [Huobi](https://coinmarketcap.com/exchanges/huobi-global/), [Bitfinex](https://coinmarketcap.com/exchanges/bitfinex/) and Bithumb — where it is available to be traded against fiat currencies, [stablecoins](https://coinmarketcap.com/alexandria/article/what-is-a-stablecoin) and other cryptocurrencies.

Are you interested in buying ZIL or other cryptocurrencies such as [Bitcoin](https://coinmarketcap.com/currencies/bitcoin/) (BTC)? CoinMarketCap has a simple, [step-by-step guide](https://coinmarketcap.com/how-to-buy-bitcoin/) to teach you all about crypto and how to buy your first coins.

Binance

Ledger

Trezor

Trust Wallet

Math Wallet

MetaMask

Binance Chain Wallet

Atomic wallet

Enjin Coin is a project of Enjin, a company that provides an ecosystem of interconnected, blockchain-based gaming products. Enjin's flagship offering is the Enjin Network, a social gaming platform through which users can create websites and clans, chat, and host virtual item stores.

Enjin allows game developers to tokenize in-game items on the Ethereum blockchain. It uses Enjin Coin, an ERC-20 token, to back the digital assets issued using its platform, meaning that items can be bought, sold and traded with real-world value.

Enjin Coin was first announced in July 2017, and it launched on the Ethereum mainnet in June 2018.

Enjin Coin (ENJ) is a digital store of value used to back the value of blockchain assets like non-fungible tokens (NFTs).
Every asset minted with the Enjin Platform contains ENJ, a minting resource which is locked inside NFTs and removed from circulation. Minting blockchain assets with ENJ provides a variety of benefits to creators and users:

Infuses them with a reserve value

Ensures their transparency and scarcity

Gives them instant liquidity

Provides utility in games and apps

Anti-inflationary

Enjin's "melting" functionality allows users to destroy their blockchain assets at any time to retrieve the ENJ value from within.

The Enjin blockchain ecosystem aims to offer software products that make it easy for everyone to develop, trade, monetize, and market with blockchain.

Founded in 2009, Enjin has roots in the gaming industry, with the company’s first product, a gaming community platform called the Enjin Network, growing to 20 million users over the course of a decade.

In 2017 following an ICO, Enjin established itself as a leading blockchain ecosystem developer, building a suite of software products that enable anyone to easily mint, manage, trade, distribute, and integrate blockchain assets.

Enjin’s co-founder Witek Radomski wrote the code for one of the first ever non-fungible tokens (NFTs) and is also the co-author of the ERC-1155 Ethereum token standard.

Built on top of an on-chain infrastructure, the Enjin ecosystem enables game developers and businesses of all sizes to use tokenized digital assets as part of their acquisition, retention, engagement, and monetization strategies. The Enjin ecosystem is fueled by Enjin Coin (ENJ), a cryptocurrency used to back the value of blockchain assets.

Enjin Coin

VeChainThor (VET) is a versatile enterprise-grade L1 smart contract platform whose origins began in 2015. VeChain is known as a pioneer of real-world enterprise applications, and built a distributed platform powered by Internet of Things (IoT) technologies, NFC chips and blockchain to help various industries solve data-related challenges.

VeChain solves major blockchain adoption hurdles. The platform uses an intelligent two token model, VET and VTHO, separating the protocol's Store of Value and gas fee payment mechanisms, ensuring costs can be kept low and stable. Fee delegation allows smart contracts to pay gas fees on behalf of business users, and an advanced transaction model allows data to be packaged more efficiently while ensuring finality of data.

VeChain is focused on delivering a wave of incentive-based sustainability dApps through its new platform, VeBetterDAO, working closely with Boston Consulting Group to achieve adoption across enterprise and individual users, and helping  onboard the next billion users to Web3 over the coming decade.

From supply chains to sustainability, VeChain has continuously demonstrated its leading role as a driver of blockchain in business, and is dedicated to its role as a pioneer of driving real world adoption of blockchain technology.

VeChain

Fantom is a directed acyclic graph (DAG) smart contract platform providing decentralized finance (DeFi) services to developers using its own bespoke consensus algorithm.

Together with its in-house token FTM, Fantom aims to solve problems associated with smart-contract platforms, specifically transaction speed, which developers say they have reduced to under two seconds.

The Fantom Foundation, which oversees the Fantom product offering, was originally created in 2018, with the launch of OPERA, Fantom’s mainnet, coming in December 2019.

Fantom is an open-source decentralized smart contract platform for DApps and digital assets that was created as an alternative to Ethereum. Fantom has the goal of overcoming the limitations of previous generation blockchains and balancing three components: scalability, security and decentralization. The project offers a set of tools to simplify the process of integrating existing DApps, as well as a detailed staking reward system and built-in DeFi instruments.

Fantom is a Layer-1 blockchain that uses a scratch-built consensus mechanism and independent consensus layer, Lachesis, to facilitate DeFi and related services on the basis of smart contracts. Lachesis provides security for other layers as well, including Opera, Fantom's EVM-compatible smart contract chain. The long-playing mission of the project is to “grant compatibility between all transaction bodies around the world.”

One of Fantom's key strengths is its performance and efficient transaction processing, namely thousands of transactions per second, where transactions are settled in 1-2 seconds, and the cost is fractions of a cent per transaction. As a result, Fantom provides higher scalability but at a lower cost.

The ecosystem is based on two main technologies: Lachesis protocol and Opera.

The Lachesis protocol is the core consensus layer that secures the Fantom network by providing both transaction speed and security.

Lachesis is an aBFT consensus engine that uses a directed acyclic graph (DAG) algorithm. How it works: network data can be processed at different times, and the network filters the participants, allowing only one third, which are allocated due to erroneous or malicious behavior, without compromising network processes.

Fantom's Asynchronous Byzantine Fault Tolerant (aBFT) Proof-of-Stake (PoS) consensus mechanism maintains the efficiency of the entire network, its design provides security at maximum speed. Fantom developers emphasize that the PoS mechanism is a leaderless phenomenon — there are no leaders of blocks and participants, and anyone can join (or leave) the network of nodes at a convenient moment.

The key qualities of Lachesis are: asynchronous, leaderless, Byzantine fault-tolerant, and near-instant finality.

As for Opera, it's an application development layer or Fantom's mainnet deployment platform, permissionless and open-source hosting DApps. Thanks to EVM integration and support for the Solidity programming language, Fantom has a full set of smart contract capabilities, which allows users to seamlessly interact with Ethereum platforms while maintaining the advantage of Fantom's transaction efficiency.

The Fantom Foundation concluded that removing block leaders improves network security, so Opera uses a PoS model and leaderless validators (validators do not determine which blocks are valid).

In addition to being a fast, secure and cheap payment platform that enables to make fast and secure payments at minimal cost, Fantom also features on-chain governance where users vote with FTM tokens (one token equals one vote). Of the features: users have the right to express the degree of agreement / disagreement on a scale from 0 to 4.

FTM is the native utility in-house PoS token of Fantom that powers the ecosystem and is applied for payments, network fees, staking, and governance. FTM forms the backbone of transactions, and allows fee collection and staking activities, along with the user rewards the latter represents.

Fantom

Theta Network

Harmony is a blockchain platform designed to facilitate the creation and use of decentralized applications (DApps). The network aims to innovate the way decentralized applications work by focusing on random state sharding, which allows creating blocks in seconds.

According to the project’s website, Harmony is expected to introduce cross-shard contracts and a cross-chain infrastructure by the end of 2021.

Harmony

Ravencoin is a digital peer-to-peer (P2P) network that aims to implement a use case specific blockchain, designed to efficiently handle one specific function: the transfer of assets from one party to another. Built on a fork of the Bitcoin code, Ravencoin was announced on Oct. 31, 2017 and released binaries for mining on Jan. 3, 2018 with what is called a fair launch: no premine, ICO or masternodes. It was named in reference to a TV show Game of Thrones.

Ravencoin

Cronos (CRO) is the native cryptocurrency token of Cronos Chain — a decentralized, open-source blockchain developed by the Crypto.com payment, trading and financial services company.

Cronos Chain is one of the products in Crypto.com’s lineup of solutions designed to accelerate the global adoption of cryptocurrencies as a means of increasing personal control over money, safeguarding user data and protecting users’ identities. The CRO blockchain serves primarily as a vehicle that powers the Crypto.com Pay mobile payments app.

In the future, Crypto.com plans to expand the reach of the CRO platform to power its other products as well.

CRO went live in November-December 2018.

Cronos

Stellar (XLM) is a peer-to-peer (P2P) decentralized network created in 2014 by The Stellar Development Foundation or Stellar.org. The network officially launched in 2015 with the purpose of connecting the world's financial systems and ensuring a protocol for payment providers and financial institutions. The platform is designed to move financial resources swiftly and reliably at minimal cost. Stellar links people, banks, payment processors and allows users to create, send and trade multiple types of crypto.

The basis of the network is its native digital currency - XLM or Lumens. XLM acts as an intermediate currency for operations and is also used to pay transaction fees. How it works: the protocol converts money in a few seconds, first into XLM, and then into the requested currency.

The Stellar payment protocol is based on distributed ledger technology -- an open-source development, community-owned and distributed by community. The crypto asset of the Stellar platform helps with cross-border transactions, overcoming the problems of high fees and slow procedures. XLM is more focused on assisting individuals transfer money than they are with institutions. Thus, Stellar offers access to financial systems, and people can send money at low cost and promptly around the world.

Moreover, Stellar serves as a decentralized exchange and marketplace, with a built-in order book that tracks ownership of Stellar assets. Platform users can manage buy/sell orders, as well as select and set their preferred assets in settlements. XLM is a built-in coin that helps reduce transaction fees.

The network maintains a high level of security.  XLM holders must have at least one token in order to remain active on the network. This nuance performs a global goal - the execution of network transactions efficiently and with minimal time costs. Plus, Lumens offers protection against flood attacks by making microtransactions too expensive for hackers with no chance of profit, which keeps Stellar Network safe from serious threats.

The target audience of Stellar is the inhabitants of developing countries, ordinary users who are provided access to the global economy through fast, simple and inexpensive transactions. Stellar Network makes extensive use of Lumens to produce live convection as well as to send cash in multiple currencies; currency is sent from one peer, and the recipient can receive the amount in another currency. This feature is beneficial when a transaction is made between currencies without widely traded pairs.

Support for multi-currency transactions is another competitive advantage of Stellar, and the ability for cross-currency transactions has only enhanced processes with foreign operations. Moreover, stable speed and low transaction costs are a privilege that users receive.

This functionality is powered by a development called Anchors (a bridge between different currencies and the network), which simplifies the exchange within the network and helps speed up the whole process.

In summary, the benefits of Stellar (XLM) include:

Stellar

Gala is a web3 ecosystem powered by a layer-1 blockchain (GalaChain) built to power the Gala entertainment ecosystem that originally included Gala Games, Gala Music and Gala Film. More recently however, GalaChain has opened its doors to external developers and projects from any applicable industry, providing open source developer resources to simplify the process.

On a mission to empower users and creators across multiple industries throughout the world, Gala’s goal is to become the first billion user blockchain in the world. Innovators can extend the benefits of web3 to their users and communities more easily than ever before by leveraging open source tools like the GalaChain SDK and Creator Portal.

By elevating their ideas to web3 through GalaChain, developers can create custom tokens, smart contracts, reward opportunities and node networks for their communities and projects. Assets built on GalaChain can also be bridged to other blockchains, such as Ethereum, Binance Smart Chain and more. Developers who wish to learn more about getting involved with GalaChain are welcome to reach out via GalaChain.com.

The core of GalaChain is powered by its DePIN (Decentralized Physical Infrastructure Network) of Founder’s Nodes, whose operators earn daily $GALA rewards for actively providing resources to the ecosystem and enjoy governance voting rights on certain core Gala decisions. In addition to the Founder’s Node network’s foundational workload, individual projects can also create Node networks on GalaChain with more specific workloads.

Gala.com
News.Gala.com
Games.Gala.com
Music.Gala.com
Film.Gala.com

Gala

Chiliz is the leading digital currency for sports and entertainment by the eponymous Malta-based FinTech provider. It operates the blockchain-based sports entertainment platform Socios, which enables users to participate in the governance of their favorite sports brands. Multiple fan tokens by Socios.com are an example of that. For sports clubs and associations, fan tokens offer a way of connecting with their fans and unlocking new revenue streams.

For instance, fans can participate and influence club-related decisions through surveys and polls, such as messages the captain should wear on his armband. The company aims to bridge the gap between being an active and a passive fan. Chiliz has developed partnerships with some of the biggest sporting institutions in the world: FC Barcelona, Manchester City, Juventus Turin, and Paris Saint-Germain. It also boasts partnerships with the UFC and gaming organizations. By purchasing CHZ, fans get access to various fan tokens and literally have a stake in their club.

Chiliz

Cardano is a proof-of-stake blockchain platform that says its goal is to allow “changemakers, innovators and visionaries” to bring about positive global change.

To learn more about this project, check out our deep dive of Cardano.

The open-source project also aims to “redistribute power from unaccountable structures to the margins to individuals” — helping to create a society that is more secure, transparent and fair.

Cardano was founded back in 2017, and named after the 16th century Italian polymath Gerolamo Cardano. The native ADA token takes its name from the 19th century mathematician Ada Lovelace, widely regarded as the world’s first computer programmer. The ADA token is designed to ensure that owners can participate in the operation of the network. Because of this, those who hold the cryptocurrency have the right to vote on any proposed changes to the software.

The team behind the layered blockchain say that there have already been some compelling use cases for its technology, which aims to allow decentralized apps and smart contracts to be developed with modularity.

In August 2021, Charles Hoskinson announced the launch of the Alonzo hard fork, causing Cardano price to surge, gaining 116% in the following month. On Sept. 12, 2021, the Cardano ‘Alonzo’ hard fork officially launched, bringing smart contract functionality to the blockchain. Over 100 smart contracts were deployed in the following 24 hours after the launch.

Cardano is used by agricultural companies to track fresh produce from field to fork, while other products built on the platform allow educational credentials to be stored in a tamper-proof way, and retailers to clamp down on counterfeit goods.

Cardano

Polygon (previously Matic Network) is the first well-structured, easy-to-use platform for Ethereum scaling and infrastructure development. Its core component is Polygon SDK, a modular, flexible framework that supports building multiple types of applications.

To learn more about this project, check out our deep dive of Polygon Matic.

Using Polygon, one can create optimistic rollup chains, ZK rollup chains, stand alone chains or any other kind of infra required by the developer.

Polygon effectively transforms Ethereum into a full-fledged multi-chain system (aka Internet of Blockchains). This multi-chain system is akin to other ones such as Polkadot, Cosmos, Avalanche etc. with the advantages of Ethereum’s security, vibrant ecosystem and openness.

The $MATIC token will continue to exist and will play an increasingly important role, securing the system and enabling governance.

Polygon (formerly Matic Network) is a Layer 2 scaling solution backed by Binance and Coinbase. The project seeks to stimulate mass adoption of cryptocurrencies by resolving the problems of scalability on many blockchains.

Polygon combines the Plasma Framework and the proof-of-stake blockchain architecture. The Plasma framework used by Polygon as proposed by the co-founder of Ethereum, Vitalik Buterin, allows for the easy execution of scalable and autonomous smart contracts.

Nothing will change for the existing ecosystem built on the Plasma-POS chain. With Polygon, new features are being built around the existing proven technology to expand the ability to cater to diverse needs from the developer ecosystem. Polygon will continue to develop the core technology so that it can scale to a larger ecosystem.

Polygon boasts of up to 65,000 transactions per second on a single side chain, along with a respectable block confirmation time of less than two seconds. The framework also allows for the creation of globally available decentralized financial applications on a single foundational blockchain.

The Plasma framework gives Polygon the potential of housing an unlimited number of decentralized applications on their infrastructure without experiencing the normal drawbacks common on proof-of-work blockchains. So far, Polygon has attracted more than 50 DApps to its PoS-secured Ethereum sidechain.

MATIC, the native tokens of Polygon, is an ERC-20 token running on the Ethereum blockchain. The tokens are used for payment services on Polygon and as a settlement currency between users who operate within the Polygon ecosystem. The transaction fees on Polygon sidechains are also paid in MATIC tokens.

Polygon

Launched in 2017, Dent is a revolutionary digital mobile operator offering eSIM cards, mobile data plans, call minutes top-ups and a roaming-free experience. According to the company website, Dent employs blockchain technology’s powers to create a global marketplace for mobile data liberalization.

Dent has an ambitious roadmap ahead, with plans to expand its services to new markets by the end of 2021. The company has already attracted more than twenty-five million mobile device users, and Dent services are available in more than 140 countries. Enterprise partnerships for Dent include Samsung Blockchain, The Enterprise Ethereum Alliance and Telecom Infra.

Dent

Hedera is the most used, sustainable, enterprise-grade public network for the decentralized economy that allows individuals and businesses to create powerful decentralized applications (DApps).

It is designed to be a fairer, more efficient system that eliminates some of the limitations that older blockchain-based platforms face — such as slow performance and instability.

It was funded through an initial coin offering (ICO) in August 2018 and first launched open access to its mainnet just over a year later in September 2019. As part of the ICO, investors were able to purchase the platform’s native utility token (HBAR) at the lowest possible pricing.

The HBAR token has a dual role within the Hedera public network.

First and foremost, HBAR the fuel that powers Hedera services, such as smart contracts, file storage and regular transactions. Second, it's used to help secure the network, since HBAR users can stake their tokens to assist with maintaining the integrity of the platform.

Hedera (HBAR) is the native cryptocurrency of Hedera Hashgraph, a platform that is positioned as an alternative to traditional blockchain technology and aims to excel in speed, efficiency and security.

Older blockchains tend to use a consensus mechanism like proof-of-work (PoW) to validate transactions, while younger blockchains opted for proof-of-stake (PoS). The Hedera Hashgraph system has a structure that was created from scratch particularly for the project. Hedera is based on a PoS model that is believed to increase the efficiency of transaction verification in the network, provide a high level of security, and protect the network from hacker attacks. Its ecosystem has the underlying hashgraph consensus algorithm and the global enterprise governing body.

Hedera Hashgraph is a distributed ledger technology (DLT). According to the project website, Hedera differs from other blockchains because it uses a new consensus algorithm called hashgraph. It intends to process and execute transactions faster, eliminate delays, and smooth out the TPS (transactions per second) indicator. Hashgraph is claimed to be an upgrade in transaction speed, cost, and scalability.

Core network services by Hedera:

Consensus Service (HCS). With HCS, clients send messages to the network to negotiate consensus timestamping and order. In this case, the state is stored offline, and users can define privacy and access control.

Hedera Token Service (HTS). Thanks to HTS, token creation and management are available to customers. It supports built-in tokenization.

The goal of Hedera’s hashgraph is to increase the speed of transactions. Moreover, the network is also focused on high-volume operations: micropayments, data integrity and tokenization.

Like the EVM, the Hedera network maintains a virtual machine that writes smart contracts in the Solidity programming language. On top of that, Hedera offers a set of built-in KYC and AML checks.

From a technical point of view, Hedera is a form of distributed ledger technology. It is a hashgraph, or consensus algorithm, where users agree on the order in which transactions should be performed. However, Hedera is not exactly a blockchain. It has its own distinctiveness and works differently. With hashgraph, all transaction branches are merged, no block equivalent is thrown away, and each is used to reach consensus.

One of the most noticeable features of the network is the Gossip-about-Gossip protocol. According to Dr. Leemon Baird, Hedera's inventor, within the system nodes randomly transmit data about themselves to other nodes via hashgraph using the Gossip protocol. Soon, all nodes in a cluster become familiar with each other. Then a certain data structure is formed. It consists of a payload of transactions, a timestamp, a digital signature, and hashes to the previous structures.

HBAR is Hedera's native token that powers applications on the Hedera network. HBAR is utilized to pay for network services, transaction fees, in-app payments and micropayments. Developers can pay network fees with HBAR tokens, namely: work with smart contracts, file storage and currency exchange. HBAR is used to incentivize and pay network nodes.

Hedera Hashgraph has a decentralized governance system that is set apart. All critical decisions about pricing policy, software updates, and wealth management are made by the Governing Council.

Hedera

Algorand is a self-sustaining, decentralized, blockchain-based network that supports a wide range of applications. These systems are secure, scalable and efficient, all critical properties for effective applications in the real world. Algorand will support computations that require reliable performance guarantees to create new forms of trust.

The Algorand mainnet became live in June 2019, and was able to handle almost 1 million transactions per day as of December 2020. Algorand transaction metrics can be viewed here. Algorand initial coin offering (ICO) was held in June 2019, with the Algorand price of $0.24 per token.

Algorand

The Graph is an indexing protocol for querying data for networks like Ethereum and IPFS, powering many applications in both DeFi and the broader Web3 ecosystem. Anyone can build and publish open APIs, called subgraphs, that applications can query using GraphQL to retrieve blockchain data. There is a hosted service in production that makes it easy for developers to get started building on The Graph and the decentralized network will be launching later this year. The Graph currently supports indexing data from Ethereum, IPFS and POA, with more networks coming soon.

To learn more about this project, check out our deep dive of The Graph.

To date, over3,000 subgraphs have been deployed by thousands of developers, for DApps like Uniswap, Synthetix, Aragon, AAVE, Gnosis, Balancer, Livepeer, DAOstack, Decentraland and many others. The Graph usage has been growing at over 50% MoM and hit over 7 billion queries during the month of September 2020.

The Graph has a global community, including over 200 Indexer Nodes in the testnet and more than 2,000 Curators in the Curator Program as of October 2020. To fund network development, The Graph raised funds from community members, strategic VCs and influential individuals in the blockchain community including Coinbase Ventures, DCG, Framework, ParaFi Capital, CoinFund, DTC, Multicoin, Reciprocal Ventures, SPC, Tally Capital and others. The Graph Foundation also successfully completed a public GRT Sale with participation from 99 countries (not including the U.S.). To date as of November 2020, The Graph has raised ~$25M.

The Graph

Curve is a decentralized exchange for stablecoins that uses an automated market maker (AMM) to manage liquidity.

Launched in January 2020, Curve is now synonymous with the decentralized finance (DeFi) phenomenon, and has seen significant growth in the second half of 2020.

In August, Curve launched a decentralized autonomous organization (DAO), with CRV as its in-house token. The DAO uses Ethereum-based creation tool Aragon to connect multiple smart contracts used for users’ deposited liquidity. Issues such as governance, however, differ from Aragon in their weighting and other respects.

Curve DAO Token

TRON (TRX) is a decentralized blockchain-based operating system developed by the Tron Foundation and launched in 2017. Originally TRX tokens were ERC-20-based tokens deployed on Ethereum, but a year later they were moved to their own network.

Initially, the project was created with the aim of providing full ownership rights to makers of digital content. The main goal is to help content creators (who receive only a small part of the income) and encourage them with more rewards for their work. How: invite content consumers to reward content makers directly (without intermediaries like YouTube, Facebook or Apple).

The TRON software supports smart contracts, various kinds of blockchain systems, and decentralized applications aka dApps. The cryptocurrency platform uses a transaction model similar to Bitcoin (BTC), namely UTXO. Transactions take place in a public ledger, where users can track the history of operations.

Therefore, the platform was built to create a decentralized Internet and serves as a tool for developers to create dApps, acting as an alternative to Ethereum. Anyone can create dApps on the TRON network, offer content, and in return receive digital assets as compensation for their efforts. The ability to create content and share it openly without hesitation regarding transaction fees is an undeniable advantage of TRON.

TRON

Holo is a peer-to-peer distributed platform for hosting decentralized applications built using Holochain, a framework for developing DApps that does not require the use of blockchain technology. The goal of Holo is to serve as a bridge between the broader internet and apps built using Holochain, offering an ecosystem and marketplace in which DApps are easily accessible, as they are hosted on the internet by Holo network participants.

The Holo network will be facilitated using a token called HoloFuel, which is actively being tested and will act as an accounting system to pay hosts for their services. In 2018, the project minted an ERC-20 token, HOT — also known as HoloToken — as an "IOU" that will be redeemable for HoloFuel upon launch.

Holo is still in development and is expected to launch for open alpha and beta testing by 2021.

Holo

Ontology is a project designed to bring trust, privacy, and security to Web3 through decentralized identity and data solutions. It is building the infrastructure to provide trusted access to Web3, allowing individuals and enterprises to rest assured that through regulatory compliant digital identity solutions, users and their privacy come first.

The Ontology blockchain is a high speed, low cost public blockchain. It is designed to bring decentralized identity and data solutions to Web3, with the goal of increasing privacy, transparency, and trust. To achieve this, users and enterprises are provided with the flexibility to build blockchain-based solutions that suit their needs, while also ensuring regulatory compliance. Through Ontology’s Ethereum Virtual Machine (EVM), Ontology ensures frictionless compatibility with Ethereum, the first step in the creation of the Ontology Multi-Virtual Machine and further interoperability for the chain.

At its launch, Ontology chose to forego the popular initial coin offering (ICO) model in favor of a series of community distributions and airdrops of its ONT cryptocurrency.

This helped to quickly establish both organic price discovery and a passionate community and helped the project to avoid subsequent regulatory scrutiny.

For example, for a brief period any person who signed up for the Ontology newsletter received an airdrop of free 1,000 ONT, which reached a value of $10 per token soon after the token became listed on major exchanges like Binance.

Ontology launched its own MainNet on June 30, 2018 and has been up and running smoothly since.

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