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This article explores the reasons why Ethereum is poised to continue its growth in the cryptocurrency market, highlighting its ability to adapt, innovate, and foster a robust ecosystem that positions it favorably for future growth and market relevance.

When exploring the crypto market or considering a return to it, it is crucial to focus on blockchain-based crypto projects that have proven staying power, merit, and resilience through market crashes. Look for projects with active development and a thriving ecosystem, where both builders and users actively participate. Regardless of technological advancements, if a project lacks real-world adoption, it loses significance.

Recent weeks have seen numerous tokens, coins, and projects decline sharply, and many may struggle to reach their previous all-time highs when the market recovers. As the bull market resumes, funds will flow to established projects with merit, while newer projects will compete for capital.

With less than a year remaining before the next halving cycle, we have experienced a prolonged downturn since 2022. While it is possible to hover and consolidate during a downward phase, the bull market eventually emerges, acting as a catalyst for various developments. There is a strong likelihood that those who previously doubted Bitcoin and cryptocurrencies in general will return, contributing to increased investment and adoption.

Although there are several smart contract blockchains that can rival Ethereums capabilities, as it retains its position as the second-largest cryptocurrency by market capitalization. Despite experiencing significant price drops and facing fear, uncertainty, and doubt during its transition from proof of work to proof of stake, Ethereum has endured. Numerous so-called Ethereum killers have emerged, but Ethereums large developer community and extensive ecosystem, comprising real-life projects and users, have sustained its prominence. A good project or blockchain may experience corrections, but ultimately, if it possesses merit, it will bounce back.

Among the numerous smart contract blockchains available, Ethereum stands out as the pioneer, largest, and most widely adopted platform. While other alternatives like Polkadot (DOT), Cardano (ADA), Solana (SOL), and Avalanche (AVAX) exist, Ethereum remains the dominant force in the field, with a significant user base and extensive usage.

Smart contacts, one of Ethereums defining features, are self-executing contracts that automatically execute predefined conditions when met. This functionality has revolutionized the development of decentralized applications (dApps) and enabled a wide range of use cases, including decentralized finance (DeFi), non-fungible tokens (NFTs), supply chain management, and more, opening up exciting possibilities across various industries.

A common argument against Ethereums transition from proof of work to proof of stake is that it compromises decentralization and security. However, Ethereum has a substantial number of stakers who actively participate in securing and decentralizing the network. These stakers are incentivized to protect their stake within the ecosystem; and by staking their holdings, they demonstrate their belief in the blockchain and the ecosystem. While Ethereum operates on a network of computers, it is resistant to censorship and control, but it is important to note that it is not as decentralized or as secure as Bitcoin.

Bitcoin remains the most secure network in the cryptocurrency space. Ethereum, on the other hand, holds a significant stake in the network, giving those with more stake a greater say. While Ethereum may not match Bitcoins level of decentralization and security, its main value proposition lies in its utility rather than being seen as digital gold. Ethereums merit primarily stems from its extensive use cases.

Ethereum has established itself as the industry standard in the blockchain space, facilitating interoperability among various applications and platforms. The Ethereum Virtual Machine (EVM) empowers developers to create and deploy their own smart contracts and applications on the Ethereum network, encouraging innovation and collaboration, fostering a thriving ecosystem. Moreover, the EVMs compatibility allows for cross-chain capabilities.

For instance, wallets like Metamask support the EVM, enabling users to seamlessly interact with Ethereum, Avalanche, Binance Smart Chain, and more. This connection to the EVM and Ethereum provides developers with extensive opportunities for cross-chain development.

The Ethereum community plays a vital role in the continuous development and improvement of the network through Ethereum Improvement Proposals (EIPs). Community members suggest enhancements, upgrades, and new features to the Ethereum protocol, ensuring the adaptability and evolution of the blockchain over time. By addressing scalability issues, improving transaction speed, and introducing new functionalities, Ethereum has demonstrated its commitment to growth.

Ethereum boasts a vibrant and active developer community that plays a crucial role in driving its growth and fostering innovation. The community is constantly engaged in building and improving the Ethereum ecosystem by creating new tools and protocols. Through collaboration, knowledge sharing, and the development of best practices, this community has made Ethereum a dynamic and ever-evolving blockchain platform.

Despite the challenges Ethereum has faced, it has not only survived but also maintained its dominance as a smart contract blockchain. Its journey has seen it adapt to market demands and emerge stronger.

While the timing of the next bull market remains uncertain, it is essential to utilize this period of fear and uncertainty to learn, study, and build a solid foundation. When the bull market inevitably arrives, money will flow into projects with significant merit, and both Bitcoin and Ethereum are poised to benefit from this influx.

As the crypto market evolves, Ethereum remains a prominent player, ready to embrace the next wave of innovation and capitalize on future opportunities.

Rickie Sanchez is an article writer specializing in cryptocurrency news. Since late 2017, he has been actively investing in cryptocurrencies. He is enthusiastic about everything that has to do with crypto and he hopes that the readers of his articles in the years to come will gain a massive understanding of blockchain technology.

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The 5 Forces Propelling The Continued Growth Of Ethereum - Blockzeit

Competition within the crypto sector continues to intensify almost daily as projects jostle to gain the attention of investors. While several projects are worthy of investors attention, one that stands out as potentially the best new crypto this year is the peer-to-peer (P2P) predictive market platform, Chancer.

Chancer is seeking to upset the status quo in the online betting market with its exciting, innovative new decentralized P2P betting platform by removing power from decentralized bookmakers and empowering users to maximize their betting experience by connecting directly with fellow players. Lets examine why Chancer emerges as the best new crypto project in 2023.

The brainchild of the Kelbie brothers, Adam and Paul, Chancer is the worlds first fully decentralized online betting platform, offering a vast range of exciting features and making gambling an enjoyable and fair experience. One brilliant and key feature is the ability of users to create custom betting markets and odds for other players to take on without the interference of a biased centralized bookmaker skewing markets in their favor.

The use of custom betting slips and the ability of users to set personalized odds creates a genuinely interactive and P2P betting experience that allows users to compete against friends and work colleagues in fun bets or to join huge global crowdfunded wagers. These bets can be on various international events, from the Olympics to the Eurovision Song Contest, the US presidential election, or the Champions League final.

To help boost interactivity, Chancer is embedding Googles WebRTC software to allow users to keep up to date with the progress of their bets in real time and interact with other global bettors. As new markets crop up during live play, users can choose whether or not to take these new bets as part of an interactive betting experience thats 100% community-led.

The CHANCER token fuels the P2P prediction marketplace by providing the essential means for creating, laying, and paying out all bets. The platforms excellent CertiK-approved smart control protocol executes all transactions, with CHANCER tokens held in escrow until a winner is determined. When a bet settles, the winnings transfer into the victors digital wallet.

The Binance Smart Chain (BSC) drives the smart contract capability alongside the fully transparent ledger that records all transactions made on the platform on its immutable ledger. This functionality enables Chancer to deliver a genuinely decentralized online betting experience to its users and could become the blueprint for other new betting platforms.

Fairness and safety are critical facets of Chancers route to market, and its team of impartial moderators reviews all markets and odds to ensure that all bets are fair. Unlike the online betting experience on centralized betting apps, where markets and odds skew in favor of the house or bookmaker, the only beneficiaries of Chancers P2P model are the players themselves.

As if Chancers aim to decentralize a colossal industry already worth $60 billion and projected to more than double to $150 billion by 2030 wasnt incentive enough for interested parties to reserve their presale tokens, Chancer is pushing the boat out with considerable giveaways to go alongside a bargain presale price.

To mark the opening of the CHANCER presale, Chancer has announced a $100,000 giveaway that will see ten lucky winners grab a share of the total pot. Experts predict a massive uptake from bullish investors, crypto fans, and online bettors seeking the chance to get involved with what could be the best crypto project of the year.

The 12 stage presale event launched at $0.01, with the price rising to an eventual $0.021 before its launched on crypto exchanges. Currently in stage 1 of its ICO, CHANCER is available for just $0.01, the definition of a bargain!

Crypto experts and analysts are already predicting a bright future for Chancer, with many naming it the best new crypto project of 2023, thanks to its unique value proposition and plan to grab a huge slice of a massive growth industry. Investors taking a chance on CHANCER during the presale could have a great chance of winning big.

Alongside extensive utility, governance voting rights, and outstanding deflationary tokenomics, CHANCER coin holders could benefit enormously from the expected demand for the remaining fixed supply of tokens once the coin hits exchanges.

Many experts predict that CHANCER could rocket beyond the $0.50 barrier by 2025 as the next bull market takes hold, delivering returns of at least 25x but likely more into the wallets of shrewd early presale investors.

The CHANCER presale has gotten off to a flier, racing out of the traps and raising $925k towards its liquidity target of $12.15 million in just 5 weeks. More and more interested parties are flocking toward this ICO, with the presale giveaway providing an additional incentive beyond a low entry price.

The vast appeal and potential of Chancer mark it as arguably the best new crypto project of the year. As the project roadmap unfolds in the coming months and years, investors can look forward to potentially enormous gains accumulating. Dont miss out, carpe diem, and grab your tokens today!

Disclaimer: Any information written in this press release or sponsored post does not constitute investment advice.Thecoinrepublic.comdoes not, and will not endorse any information on any company or individual on this page. Readers are encouraged to make their own research and make any actions based on their own findings and not from any content written in this press release or sponsored post.Thecoinrepublic.comis and will not be responsible for any damage or loss caused directly or indirectly by the use of any content, product, or service mentioned in this press release or sponsored post.

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Seize the Day: Could Chancer Be the Best New Crypto of 2023? - The Coin Republic

In a quirky twist of events, the crypto world has found an unexpected darling hamster racing! This adorable phenomenon has taken the crypto community by storm, with enthusiasts placing bets on cuddly rodents racing through digital tracks. The frenzy surrounding this novel concept has led to the rise of a 24-hour fadcoin and a livestreamed betting platform.

HamstersGG, a betting platform with a twist, came to life on July 11, 2023. Operating through Twitch, the platform allows users to wager using BUSD, further fusing the worlds of decentralized finance (DeFi) and adorable rodent racing. While Ethereum and Binance Smart Chain deposits were accepted, payouts appeared to rely primarily on BSC.

At the heart of this unique spectacle lies the HAMS token, offering a tantalizing blend of stablecoin bets for individual races and revenue-sharing opportunities. HamstersGGs white paper declared that the platform takes a 5% rake of all bets. Then it distributes 4% of it to token holders. This dynamic has given rise to a volatile market on Uniswap, adding another layer of intrigue to the hamster racing phenomenon.

Since its launch, HAMS has experienced a whirlwind of market activity according to Blockworks. With a Uniswap v2 pool boasting just under $100,000 in WETH liquidity, the tokens trading volume reached an impressive $900,000 on its debut day. The tokens value skyrocketed to $.38 cents, only to dip as low as $0.08 before bouncing back to $.38 once more, leaving traders on a thrilling rollercoaster ride.

As the popularity of hamster racing soared, so did speculations regarding its authenticity. Some Twitter users questioned the legitimacy of the races, claiming they were staged and videos were looped. The platforms response was swift, attributing server crashes to the unexpected surge in interest for these furry athletes. Amidst technical glitches and delayed races, concerns about potential scams arose.

As the day unfolded, viewership on the Twitch livestream wavered, dipping below 600 when races failed to commence. Users in the live chat room voiced complaints about withdrawal issues following the conclusion of an earlier race. While some chalked it up to FUD, others couldnt shake the feeling that something might be amiss.

Despite the allure of hamster racing and its endearing charm, the crypto community is left wondering whether this novel venture will stand the test of time. As enthusiasts weigh the risks and rewards of placing bets on cuddly critters, the future of HamstersGG and its HAMS token remains uncertain. Only time will tell if these furry athletes are here to stay or if theyll scamper away into obscurity.

Hamster racing has undeniably captured the imagination of the crypto world, offering a peculiar blend of wholesomeness and DeFi degeneracy. With the HAMS token stirring up the market due to volatility, and concerns surrounding the authenticity of races, the future of this furry phenomenon hangs in the balance. As the crypto community keeps a close eye on the adorable racers and their quirky platform, one thing is certain the world of crypto has never been more whimsical.

Giancarlo is an economist and researcher by profession. Prior to his addition to Blockzeits dynamic team, he was handling several crypto projects for both the government and private sectors as a Project Manager of a consultancy firm.

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Unraveling the Craze: The Furry Spectacle of Hamster Racing in the ... - Blockzeit

Crypto exchanges come in various types, but centralized exchanges (CEXs) and decentralized exchanges (DEXs) are the most widely known and used. These platforms serve as the go-to avenues for buying and selling digital assets, offering straightforward solutions for novice investors.

A centralizedcrypto exchange is a platform that acts as a middleman between buyers and sellers of crypto assets (and some act as market makers too). Some of the leading CEXs in the market are Coinbase, Binance, and Kraken. They are regulated entities that provide security, liquidity, and convenience for their users, matching their orders and executing trades at a fee. Vitally, CEXs are one of the only ways to trade fiat currencies like the USD or EUR for cryptocurrencies. However, they also have some drawbacks.

Investors trust CEXs to handle their assets safely and fairly, while this is often the case, there are a multitude of instances of the exact opposite happening, such as the collapse of FTX in November 2022, which resulted in the losses of billions of customer funds.

On the other hand,decentralized exchanges are platforms that let users trade crypto assets without intermediaries or custodians. Furthermore, they dont take custody of your funds when you trade (unless you stake them in liquidity pools), completely avoiding the problem of bad actors losing or stealing your funds. Unlike CEXs, which hold and manage users funds and identities, DEXs give users full control and security over their transactions.

DEXs usesmart contractsandblockchain technology to execute trades directly between users (and pools of users), with a lower risk of hacking, censorship, or manipulation (assuming it is fully audited). Decentralized exchanges are a key component of decentralized finance, or DeFi, which aims to create a more open and accessible financial system.

Some of the leading DEXs in the market are Uniswap, dYdX, Kine Protocol, and PancakeSwap.

Some centralized exchanges, although convenient, have been faulted by many for abusing the trust of their users. Most must take custody of your funds for you to trade. Most reputable top exchanges like Coinbase dont steal or misuse your funds, but even some of the most popular exchanges have been caught doing this, such as FTX. The SEC has also accused Binance and its founder of illegally diverting and commingling customer funds, but they are innocent until proven guilty.

Due to the requirement to comply withregulations, especially those touching on money laundering and other criminal behavior, most CEXs have made it mandatory for users to go through a Know Your Customer (KYC) process. This requires users to provide extensive personal information, which helps in verifying identities to restrict illegal activities such as money laundering and terrorist financing. All exchanges that are legally available in the U.S. require KYC, and many other countries have similar requirements.

Lack of user control over theircryptocurrencies is a major drawback that has been pushing investors to decentralized exchanges like Uniswap. This situation is made worse by the rampant security issues, with centralized exchanges becoming targets of high-profile hacks.

One of the main benefits of decentralized exchanges is in the name: decentralization. According to a report on cryptocurrency theft statistics of 2023 by Persona, these crypto platforms function on a distributed network of computers with no single owner, as opposed to traditional banks, which are managed by a central authority and its intermediaries. No central authority can refuse your business, nor can it take your funds (assuming the contracts are safe and secure).

Despite DEXs being the obvious alternative to CEXs, they also face numerous issues that make the platforms less efficient in real life at times standing out as more costly compared to centralized exchanges.

Scalabilityis one of the critical challenges synonymous with DEXes, as they rely on different blockchain protocols to process and record transactions. Blockchains likeEthereumare prone to network congestion, highgas fees, and long confirmation times.

Limitedliquidity is one of the biggest issues DEXs grapple with. DEXes are usually built on liquidity pools, which are simply smart contracts with usually 2 (but can be more). This allows investors to make trades immediately, without the need for another investor (or a market maker) on the other end of the trade, like normal order books.

Low liquidity means that there isnt enough of one or both cryptocurrencies in a liquidity pool. This leads to premiums on trades for tokens with low liquidity, giving traders worse prices than they might get on CEXs.

Some DEX users only use them to swap between cryptocurrencies, but others deposit their tokens into liquidity pools to earn fees on each trade. This is what enables DEXs to exist, and the practice can be quite profitable.

However, these pools have their own set of challenges, including the risk ofimpermanent loss, which arises when your share of the liquidity pool is worth less than the present value of the deposit. This happens when the prices of tokens fluctuate compared to each other.

Security is another challenge DEXs continue to struggle with despite not having custody of the crypto assets traded on their platforms. This custodial benefit is only true to a certain extent, especially since decentralized exchanges are not immune to exploitation or hacking.

Smart contracts are often seen as cold, calculating, and precise, but even these programs are susceptible to attacks due to various vulnerabilities. Several DeFi protocols and DEXes lost millions of dollars in 2020 due to manipulated smart contracts.

Lastly, DEXs operate in a grey area with little to no regulation. This implies that they are not compliant with the same standards and guidelines required of CEXs.

The absence of regulation in the DeFi space acts as a double-edged sword. On one hand, certain users favor unregulated platforms for the sake of ease of use, privacy,and anonymity. However, the downside is that these users wont benefit from the regulatory safeguards and protections available to customers on regulated platforms.

That brings us to a new platform, a new permissionless, open-source (GPL), and auction-based protocol Uniswap launched on 17 July, for trading automated market makers (AMMs)and other liquidity sources and might just be the missing piece in the puzzle for the future of crypto exchanges.

AMMs refer to decentralized exchanges that incorporate algorithm money robots to make the process of buying and selling digital assets seamless for individual traders. In other words, Instead of trading directly with other people as with a traditional order book, users trade directly through the AMM, the Chainlink education hub explains.

It is important to understand AMMs as liquidity providers for decentralized exchanges like Uniswap.

Liquidity pool depositors play a crucial role in the DeFi ecosystem, as they are responsible for ensuring liquidity is available on exchanges for tradable assets that might otherwise suffer from illiquidity. These depositors flock to DEXs and tokens that are the most profitable (and secure), leading to liquidity drying up in other pools. The growing number of DEXs also spreads liquidity out into more and more pools, lowering the liquidity of each individual pool.

In light of the obvious liquidity problems often faced by traders on DEXs, Uniswap launched UniswapX a non-custodial Dutchauction-basedtrading protocol implemented for theEthereum Virtual Machine (EVM),the whitepaper states.

UniswapX integrates a blend of on-chain and off-chain liquidity sources, taps maximal extractable value (MEV) as a method to enhance pricing, proposes swaps at zero gas fees, and extends the platforms scope to enable cross-chain trading.

Uniswap, as one of the most popular and largest decentralized exchanges, is well aware that liquidity pools are the only reason (along with AMM contracts) that DEXes can exist without active market makers. Since these pools are susceptible to dry spells, UniswapX has been fronted as the ultimate solution.

The new platform, although still in beta, finds the best prices for swaps from around the internet and mixes liquidity from both off-chain with on-chain liquidity. It does this by outsourcing transaction routing to third-party fillers who take over the process of filling swaps either directly or would be obliged to direct traders to selected AMM pools with appropriate liquidity.

These fillers have to compete with each other for fees because orders are set as Dutch auctions, which are simply auctions that descend in price until someone bids.

In addition, fillers would be required to settle gas fees on behalf of traders carrying out the swaps. Instead, the gas fee that the filler undertakes would be included in the Dutch auction value that they bid on. This eliminates the need for users to hold tokens native to the respective blockchain utilized, for example, Ethereum or Polygon to complete orders. This also means that swappers wont have to pay for unsuccessful transactions.

When traders utilize the Uniswap Protocol (v1, v2, v3, and v4) for their trades, they initiate and authenticate transactions. These transactions define crucial details such as the input token, the desired output token, the specific execution route, and a minimum output amount.

Once the swappers finalize their transactions, they submit them to the blockchains mempool, which can be either public or private. In the mempool, these transactions await miners to pick them up and validate them.

UniswapX harnesses the power of Permit2, a token approval contract that facilitates signature-based approval and transfer actions for anyERC20 token. Furthermore, UniswapX utilizes an on-chain Reactor Contract for settlement. This contract plays a key role in verifying whether the execution of each trade aligns with the users expectations, while it also reverts trades that fall short of pre-set criteria.

Prior to the initiation of any trade, swappers are required to approve the Permit2 contract. Consequently, instead of formulating and posting transactions independently, swappers who use the UniswapX protocol sign orders which then specify the following:

The whitepaper states that fillers have the freedom to combine gas fees with the total cost of swaps, however, they may choose to bundle numerous orders to reduce the overall transaction costs. Uniswap said that with way, fillers nurture a competitiveenvironmentfor offering the best prices for swaps.

Fillers then fill the order with whatever liquidity they want to, off-chain, on-chain, or both.

Unlike traditional AMMs, UniswapX cleverly incorporates MEV into itsarchitectural framework. MEV is currently used by bots to abuse slippage and force traders to pay more for token swaps while they profit. UniswapX uses this in the traders favor by improving prices.

UniswapX plans to integratecross-chain trading later this year, which will support the seamless swapping of trade assets on an origin chain for desired assets on a destination chain. For instance, trading BNB for ETH on the Binance Smart Chain and receiving MATIC on Polygon.

DEX interfaces and aggregators like UniswapX are game changers in the DeFi sector, with traders emerging as the biggest winners. With liquidity available from numerous AMMs and off-chain sources, user experience on DEXs will likely be enhanced significantly. For a long time, CEXs such as Binance and Coinbase have been preferred because of their liquidity advantage, but users who care for having complete control over their assets may turn to UniswapX-like products to take advantage of the best prices, brought by competition among fillers.

Nevertheless, these interfaces and aggregators for DEXes themselves are somewhat centralized. For example, some exchanges can remove certain tokens from the user interface, which some investors may consider a form of delisting. In such a case, investors are required to trade the tokens manually using smart contracts a rather complex and risky procedure.

In 2021, Uniswap delisted 100 tokens from its interface, citingregulatory pressure. At the time, the DEX said that these changes pertain to the interface at app.uniswap.org the Protocol remains entirelyautonomous,immutable, and permissionless.

Furthermore, the Uniswap team will likely be able to ban certain wallets from the UniswapX interface, making them a centralized entity with control over the app. The reason this is possible, at least according to Uniswap, is to ban suspected criminals. This could be important because if fillers are using off-chain stolen, sanctioned, or similarly illegal funds to fill trades, UniswapX users will be the ones hurt.

That said, the benefits likely to come out of having centralized DEXes like UniswapX may outweigh the drawbacks. While investors must carry out their own due diligence before trading crypto assets on any platform, centralized DEX interfaces and aggregators like UniswapX could shape the future of digital asset trading.

Centralized exchanges have continued to triumph over decentralized exchanges due to limited liquidity, the complexity of the trading process, and the high transaction cost of the latter. UniswapX solves all these challenges by offering lost cost swap and zero cost on unsuccessful on-chain transactions, making the process seamless even for novice traders eyeing the DeFi space.

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The Future of Crypto Exchanges Centralized DEX Interfaces - Techopedia

Today, blockchain use cases have far surpassed just cryptocurrencies, and consequently, the number of blockchain protocols has skyrocketed. Blockchain protocols are a set of guidelines that enable data to be shared securely and reliably across cryptocurrency networks.

The aim of blockchain protocols is to address the following principles:

Decentralization: Because blockchain is a decentralized network, its not necessary for any central authority to validate transactions. Rather, the protocols control how data is stored, transmitted, and authenticated across the network.

Scalability: This refers to an increase in transaction numbers. Previously, scalability has been challenging in the blockchain. Today, however, protocols handle the increase in transactions in the network. Protocols also add nodes to the network.

Consistency: Protocols update the entire database at each step of a transaction so every user is knowledgeable about the entire network.

Security: Protocols are responsible for securing the entire network, defining the datas structure as well as securing it from malicious users.

However,since there are so many protocols available, it can be difficult for organizations to determine which really matters. Here are the top 12 blockchain protocols to know.

A peer-to-peer cash system, Bitcoin is the most well-known crypto protocol. It lets people conduct financial transactions with one another without trusted third parties, such as financial institutions. It enables transactions that are not reversible and also stops double-spending.

In addition, the Bitcoin network is decentralized, which means it is not controlled by any one entity, providing more security and making it hard for organizations to tamper with transactions. And the network uses a proof-of-work (PoW) consensus mechanism to confirm and record crypto transactions.

The Ethereum protocol is designed around smart contracts, where contracts are automatically performed without the need for third parties when certain conditions on the network are met. The designs of the Ethereum network are scalable, which means it can handle numerous transactions per second, making it perfect for decentralized apps (dApps) that need to handle huge amounts of data.

Quorum, which is enterprise-focused, aims to help organizations in the finance industry and has major backing from those financial institutions. An open-source project developed by J.P. Morgan Chase, Quorum can be used by anyone. Built on Ethereum, it is compatible with smart contracts and Ethereum tools.

Cardano is a proof-of-stake (PoS) blockchain platform used to develop smart contracts and secure and sustainable decentralized apps. It runs on a protocol known as Ouroboros that aims to reduce the use of energy in crypto transactions.

Corda, an enterprise protocol, was developed by the R3 banking consortium. As such, the Corda protocol is ideal for financial services applications. An open-source framework, Corda maintains security and transparency via consensus algorithms.

A decentralized platform, TRON can be used to develop smart contracts as well as decentralized applications. Because it mainly focuses on the entertainment industry, content creators can use the platform to publish, store, and make money from their digital content.

Designed for decentralized apps, the Binance Smart Chain (BSC) enables inexpensive and speedy transactions. Since BSC is scalable, it can handle a huge number of transactions in a short time, so its suitable for decentralized apps that must handle huge amounts of data.

In addition, as this protocol uses a proof-of-stake consensus mechanism, it enables the network to use less energy than Bitcoins proof-of-work mechanism.

A decentralized network with independent blockchains, Cosmos enables assets and data to be transferred between unrelated blockchains. It offers a shared security model for all connected chains and enables secure and fast transactions.

Because Cosmos focuses on scalability and interoperability, its a good choice for decentralized finance (DeFi) projects and decentralized exchanges.

This multichain network allows unrelated blockchain systems to work together. Developers can use Polkadot to create decentralized apps to allow these different blockchains to communicate with one another and transfer any type of data across any type of blockchain. This means developers can create more interconnected and complex apps.

The designs of this blockchain protocol are similar to decentralized social media apps. Hive provides secure and fast transactions. It has a large content creator and curator community, and, as such, its noted for its emphasis on society, engagement, and collaboration.

A scalable and fast protocol, Solana is developed for decentralized finance apps. It can process thousands of transactions per second using the Solana proof-of-stake consensus algorithm.

Primarily focused on developer adoption, it offers several tools and resources to help them build on the platform.

An open-source blockchain protocol, Hyperledger was developed by the Linux Foundation. As a permissioned blockchain, only authorized parties are able to participate in the network. The protocol is scalable, flexible, and modular, so it is suitable for enterprise apps. Hyperledger targets organizations in different industries and aims to enable business transactions and other financial services.

The protocols smart contract engine enables companies to more easily develop and deploy smart contracts. Hyperledger also offers individuals a secure channel where they can share private data.

These 12 blockchain protocols depict a range of technologies and use cases, each of which has its own strengths and weaknesses. Consequently, users and developers much decide which protocols best meet their needs.

That means that as blockchain technology continues to evolve, users and developers must stay informed and up to date regarding the latest blockchain developments.

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12 Best Blockchain Protocols To Know - Techopedia