As one of the leading Ethereum alternatives, Polkadot has become a destination for numerous developers, blockchain users, and even entire crypto projects. As such, it has developed a rich and diverse ecosystem that is only getting better with each new addition to its network.
With that said, not all projects share the same potential, and while some seem bound to succeed, there are plenty of those that will fade away in time. As an investor, you have to know how to identify the ones that will stick around in the long run. There is no sure way to tell which projects will still be around in five, ten, or more years, but the best you can do is research their technologies, use cases, goals, and alike, and do your best at making an assessment.
To help you get started, we have created a list of the top 13 projects from the Polkadot ecosystem that we believe have such potential. Check them out in our list below, and if you find one or more that you like, research them in-depth and consider investing, or at least keep an eye on them and their development in months and years to come.
The first on our list is Polkadot (DOT), which is the native cryptocurrency of the Polkadot ecosystem. DOT is the core crypto of the entire network that helps run the ecosystem, and the richer its ecosystem gets in various products, the more use cases the project has.
Polkadot network itself was developed in order to address issues of older projects in the crypto world, such as the lack of scalability, high gas prices, low throughput, lengthy transaction times, and alike. The project invented its own solution that revolves around parallel chains that run alongside the main chain. These parachains, as they are called, are there to take the portion of the network’s job, and reduce the amount of work that the main network has to deal with.
Parachains also have a unique ability to connect to other blockchains, and in doing so, they can establish a network and bring interoperability to the blockchain industry, with Polkadot in the heart of it, acting as the crossroads for information, money, and digital assets.
To learn more visit our Investing in Polkadot guide.
Next up, we have Kusama (KSM), which describes itself as Polkadot’s “wild cousin.” Essentially, Kusama was originally developed as a canary network for Polkadot — a type of network where developers could go to create and test new projects before implementing them on Polkadot’s chain. Over time, however, many of the projects decided to stay and become Kusama’s native projects that do not exist on other networks.
This allowed Kusama to become a legitimate network, and more than just Polkadot’s testnet. The two have nearly identical technology, so all the benefits of Polkadot are also present on Kusama, plus some projects that only exist on this chain now.
But, Kusama has been attracting projects a lot thanks to its highly-scalable, interoperable sharded network, and the appeal is that it has a lot of features that Polkadot does not, which are there in the experimental phase, so investors tend to go to Kusama to check the projects out, and learn early on which ones to invest in.
To learn more visit our Investing in Kusama guide.
In the third spot, we have a project called Dock (DOCK), which is a platform created to offer a simple solution for businesses and developers who wish to build, manage, and present digital credentials. Digital credentials have been one of the great goals of the blockchain industry, as this technology can ensure instant verification at any time, while also keeping all the information safe, immutable, and fully managed by its owner.
By providing this solution, Dock is also changing how this information is handled, shared, secured, and more. Furthermore, the project also has a standalone blockchain, an integrated payment and incentivization token, and its own trusted network of validators.
To learn more visit our Investing in Dock guide.
The fourth project on our list is called Moonbeam (GLMR), and it is an Ethereum-compatible smart contract parachain for the Polkadot ecosystem. The project’s goal is to make it extremely easy to use Ethereum’s development tools to build or redeploy Solidity projects in a Substrate-based environment.
However, it is more than just an EVM implementation, as it also acts as a highly-specialized parachain that mirrors Ethereum’s Web3 RPC, keys, accounts, logs, subscriptions, and more. It is also unmatched when it comes to Ethereum’s compatibility, which is only one of the reasons why it deserves to be on this list.
To learn more visit our Investing in Moonbeam guide.
Moving on, we have Ankr (ANKR), which is a decentralized blockchain infrastructure provider that operates an entire array of nodes, distributed across more than 50 PoS networks around the globe. With infrastructure like that, the project is in a perfect position to drive the growth of the digital currency economy, all the while powering a full suite of multi-chain tools for Web3 users.
These tools include blockchain developer solutions, such as traditional APIs, a fully decentralized multi-chain network of RPC nodes, as well as Ankr Scan, which allows users to view information across blockchains.
To learn more visit our Investing in Ankr guide.
Moving on to number six, we have MXC, which is a Web 3.0 infrastructure, designed to connect the metaverse — one of blockchain technology’s most popular trend — with the real world. The MXC network uses a Proof of Participation mechanism, featuring Supernodes that offer a free, open network, with excellent scalability.
Meanwhile, the project’s native token, also called MXC, is used for a variety of things, from NFT management to provisioning of devices for the network, running supernode, mining from satellite and LPWAN networks, governance, and more.
To learn more visit our Investing in MXC guide.
Halfway down the list, we have Origintrail (TRAC), which is the world’s first decentralized knowledge graph, and it is used for organizing the most important assets of humanity. Not only that, but it makes this knowledge easy to discover, verify, and it helps increase its value as a result. The project is connected to the physical world, to sectors such as healthcare, education, supply chains, but also to art, fashion, and alike.
But, it also has a tie to the digital world, including blockchain, smart contracts, the DeFi sector, Metaverse, and the NFT industry. It binds it all together in a single connecter Reality, removing the borders between digital and physical worlds.
To learn more visit our Investing in Origintrail guide.
Aleph.im (ALEPH) is an open-source cross-chain network that features a decentralized database, including things like a decentralized identity framework, computing, file storage, and more. The project has a single core mission, which is to help dApps and decentralized protocols become truly decentralized, by stripping off any remnants of centralization that remains in their architecture.
As such, the project aims to supercharge the DeFi ecosystem and make it reach its full potential.
To learn more visit our Investing in Aleph.im guide.
In the ninth spot, we have DIA, which stands for Decentralized Information Asset. This is an open-source oracle platform that allows market actors to source, supply, or share trustable data, as per need. Furthermore, DIA’s goal is to act as an ecosystem for open financial data in the smart contracts ecosystem.
It also wishes to bring data analysts, data providers, and data users together, and create a community that would be fully dedicated to working with data in a reliable and verifiable ecosystem, with a bridge that delivers new data from off-chain sources onto the blockchain, enabling smart contracts, dApps, and other blockchain products along the way.
To learn more visit our Investing in DIA guide.
10. Celer Network
Next up, we have Celer Network, whose architecture is secured and supported by State Guardian Network — its personal blockchain. The chain uses a DPoS algorithm, which allows participants to stake their coins and earn rewards while transferring the responsibility to validate transactions to delegates.
The project’s goal is to change how multi-chain dApps are created and used. Instead of deploying a number of isolated copies of smart contract on each individual chain, dApp developers can simply create an inter-chain-native dApps. This is a very unique, and even revolutionary approach that might significantly change the way dApps will work in the future.
To learn more visit our Investing in Celer Network guide.
Moving on, we have Ren, which is an open protocol built to provide interoperability and liquidity between different blockchain platforms. The project launched a virtual machine mainnet known as RenVM, and it uses its native token, REN, as a bond for those who run the nodes that power RenVM.
Other than that, Ren’s goal is to work on expanding interoperability and making blockchain more accessible. In extent, the same is true for DeFi, as it would remove liquidity hurdles between different blockchains.
To learn more visit our Investing in Ren guide.
12. Phala Network
Nearing the end of the list, we have Phala Network, which is a privacy-focused cloud computing service. Phala offers computing power similar to traditional cloud services, and it protects the privacy of managed programs. It was based on TEE- Blockchain Hybrid Architecture, and it allows the developers to create and deploy confidential smart contracts.
The project will act as one of Polkadot’s parachains, and its native token, PHA, will be used for accessing trusted computing resources, paying data exchange fees, ensuring security, and for the project’s governance.
To learn more visit our Investing in Phala Network guide.
13. Bounce Token
Lastly, we have the Bounce Token, or Bounce Finance Governance Token (AUCTION). Bounce is a decentralized auction platform, which includes several DeFi activities, including governance, liquidity mining, and staking. Its first principle is the scarcity of resources, which creates a very competitive swap environment.
The idea to include swaps came from Uniswap and its infinite liquidity, provided for the project’s participants. However, Bounce’s focus is on the opposite scenario, as it provides a competitive environment for a very limited supply of tokens, NFTs, and similar assets, that can be auctioned off in multiple ways.
To learn more visit our Investing in Bounce Token guide.
Polkadot’s ecosystem is massive, and these are only some of the great projects that are currently available for investment, and that seemingly have great potential to go big down the road. As you can see, there is also great diversity in its ecosystem, so there are plenty of options for investors seeking new investment opportunities and something different and unique to diversify their portfolios.