Blockchain technology has come a long way since the inception of Bitcoin over a decade ago. Today, numerous blockchain projects are working to solve some of the most pressing challenges in various industries. Beyond Bitcoin, several projects of blockchain development in the USA are worth watching closely in 2023.
This article will examine 10 such projects and what makes them unique.
Top 10 Blockchain Projects to Watch Closely in 2023
1. Polkadot –
Polkadot is a blockchain platform that solves the scalability and interoperability challenges of existing blockchains. It allows different blockchain networks to communicate, enabling developers to create DApps that work across other chains. Polkadot also uses a unique governance system that allows token holders to participate in decision-making.
To implement Polkadot, developers can follow these steps:
● Choose a Parachain slot or build a Parathread
● Develop and deploy a runtime module
● Create a custom front-end UI for your application
● Integrate with other applications in the Polkadot ecosystem
2. Filecoin –
Filecoin is a decentralized storage network that lets users store and retrieve data securely and efficiently. It uses a proof-of-replication system to ensure data is stored reliably and redundantly. Filecoin also enables users to earn tokens by renting out their storage space to other users.
To use Filecoin, users can follow these steps:
● Download and install the Filecoin software
● Create a Filecoin wallet and acquire FIL tokens
● Connect to the Filecoin network and start storing or retrieving data
● Rent out your storage space to earn FIL tokens
3. Avalanche –
Avalanche is a blockchain platform that focuses on providing a high-performance and scalable network for decentralized applications. It uses a consensus mechanism called Avalanche, allowing fast and efficient block confirmation times. Avalanche also supports the creation of subnets, smaller chains that can operate independently or in coordination with other chains.
To use Avalanche, developers can follow these steps:
● Choose a subnet or create a new one
● Develop and deploy smart contracts using familiar programming languages such as Solidity or Rust
● Integrate with other applications in the Avalanche ecosystem
● Participate in the network’s consensus mechanism to earn rewards
4. NEAR Protocol –
NEAR Protocol is a blockchain platform focusing on developer experience and ease of use. It uses a unique sharding architecture for high throughput and low latency. NEAR also supports the creation of smart contracts and DApps using familiar programming languages such as Rust and AssemblyScript.
To implement NEAR Protocol, developers can follow these steps:
● Choose a shard or create a new one
● Develop and deploy smart contracts using Rust or AssemblyScript
● Integrate with other applications in the NEAR ecosystem
● Participate in the network’s consensus mechanism to earn rewards
5. Polygon –
Polygon, previously known as Matic Network, is a Layer 2 scaling solution that aims to improve the performance and usability of Ethereum. It uses a Proof-of-Stake consensus mechanism and supports creating scalable and interoperable blockchain networks. Polygon also enables developers to create DApps that can run on Ethereum but with lower gas fees and faster transaction speeds.
To use Polygon, developers can follow these steps:
● Choose a Polygon network or create a new one
● Develop and deploy smart contracts using Solidity
● Integrate with other applications in the Polygon ecosystem
● Participate in the network’s consensus mechanism to earn rewards
6. Chainlink –
Chainlink is a decentralized oracle network that runs on smart contracts with reliable, secure data feeds. It uses a unique consensus mechanism that involves multiple nodes verifying the accuracy of data before it is passed on to the smart contract. Chainlink also enables developers to create custom oracle networks and data feeds.
To use Chainlink, developers can follow these steps:
● Choose a Chainlink network or create a new one
● Develop and deploy smart contracts that require data feeds
● Integrate with other applications in the Chainlink ecosystem
● Participate in the network’s consensus mechanism to earn rewards
7. Solana –
Solana is a high-performance blockchain platform that provides fast and cheap transactions for decentralized applications. It uses a unique consensus mechanism called Proof-of-History that allows quick block confirmation times. Solana also supports the creation of smart contracts using Rust and provides a suite of developer tools.
To use Solana, developers can follow these steps:
● Choose a Solana network or create a new one
● Develop and deploy smart contracts using Rust
● Integrate with other applications in the Solana ecosystem
● Participate in the network’s consensus mechanism to earn rewards
8. Algorand –
Algorand is a blockchain platform that provides a secure and scalable network for decentralized applications. It uses a unique consensus mechanism called Pure Proof-of-Stake that ensures the network’s security while allowing for high throughput. Algorand also supports the creation of smart contracts using familiar programming languages such as Python and JavaScript.
To use Algorand, developers can follow these steps:
● Choose an Algorand network or create a new one
● Develop and deploy smart contracts using Python or JavaScript
● Integrate with other applications in the Algorand ecosystem
● Participate in the network’s consensus mechanism to earn rewards
9. Tezos –
Tezos is a self-amending blockchain platform that allows for on-chain governance and the creation of smart contracts. It uses a unique consensus mechanism called Liquid Proof-of-Stake, which provides fast block confirmation times and high scalability. Tezos also supports creating decentralized applications using multiple programming languages, such as Michelson and SmartPy.
To use Tezos, developers can follow these steps:
● Choose a Tezos network or create a new one
● Develop and deploy smart contracts using Michelson or SmartPy
● Integrate with other applications in the Tezos ecosystem
● Participate in the network’s governance process to earn rewards
10. Binance Coin –
Binance Coin (BNB) is a cryptocurrency developed by the cryptocurrency exchange Binance. It was launched in July 2017 as an ERC-20 token on the Ethereum blockchain. Binance Coin was initially used to pay transaction fees on the Binance exchange, with users receiving a discount on their fees when paying with BNB.
To use Binance Coin, developers can follow these steps:
● Choose a Tezos network or create a new one
● Develop and deploy smart contracts using BNB
● Integrate with other applications in the BNB ecosystem
● Participate in the network’s governance process to earn rewards
Conclusion
The blockchain industry is constantly evolving, and new projects are always emerging. In this article, we have highlighted 10 blockchain projects that are worth watching closely in 2023. Whether you are a developer looking to create decentralized applications or an investor looking to explore new opportunities in blockchain development in USA, these projects offer unique solutions to some of the most pressing challenges in various industries. As always, doing your research and due diligence is important before making investment or development decisions.
