The crypto industry is posting a sharp recovery after a brutal crypto winter. The biggest platforms, like bitcoin and Ethereum, were among the worst hit by the downturn. Surprisingly, it’s the lesser-known tokens like Snowfall Protocol (SNW) that have performed well. Several other utility blockchains have also made their mark in the industry and posted healthy growth. However, three blockchains have emerged as leaders who could take the crypto world into a full-fledged Web3 ecosystem. They are Snowfall Protocol (SNW), Polygon (MATIC), and Near Protocol (NEAR).
Polygon (MATIC)
Polygon is a layer-2 blockchain solution designed to address the speed and scalability issues of Ethereum. Polygon executes transactions at lightning speeds while charging a fraction of what Ethereum does. While Polygon’s speed continues to be remarkable, its charges have escalated in recent months. Polygon announced a hard fork to reduce the transaction fees on the platform, besides implementing other upgrades to the blockchain. However, the hard fork was passed with only 15 validators’ votes, out of whom 13 approved the upgrade. Polygon boasts 100 validators!
How Polygon’s hard fork was implemented has raised serious questions about its commitment to decentralization and De-Fi. Criticisms aside, Polygon is a robust platform that can be equipped with new features on the fly. So, Polygon has strong relevance in its niche and will continue to shape Web3 and metaverse.
Near Protocol (NEAR)
Near Protocol (NEAR) is a layer-1 blockchain that brings the power of the cloud to De-Fi. Near Protocol is a community-run cloud computing platform that allows developers to launch dApps on the cloud. Near Protocol is remarkably easy to use and uses human-readable account names instead of strings of random alphanumeric symbols. Near Protocol is a proven system that can process 100,000+ transactions per second. Near Protocol is a robust cloud platform for the De-Fi ecosystem and is quite affordable. It’s designed to charge less than $0.01 in transaction fees.
After losing over 80% of its value in an industry-wide crash last year, Near Protocol is tracing a sharp recovery path. Irrespective of how Near Protocol’s native token performs in the short term, there’s no denying that it’s a formidable answer to the centralized cloud computing solutions offered by AWS, MS Azure, Google Cloud, and others. If anything, Near Protocol is essential for the success of the De-Fi ecosystem. However, Near Protocol has quite a number of competitors who continue to upgrade their systems and services.
Snowfall Protocol (SNW)
There’s no dearth of interoperability projects in the blockchain sector. Many cryptos have tried to build bridges between different blockchains. Some have failed; some continue to struggle. Crypto analysts agree that Snowfall Protocol (SNW) has the most potential to be a successful interoperability bridge. Snowfall Protocol (SNW) intends to connect stablecoins to its interoperability bridge and later add other prominent tokens to its bridge.Snowfall Protocol (SNW) has already demonstrated its utility with a prototype dApp and has raised over $3 million in staggered presale events.
Snowfall Protocol (SNW) is critical for integrating siloed blockchains scattered across the crypto world into an interconnected multiverse ecosystem. Without an interoperability bridge like Snowfall Protocol (SNW), many blockchains will be nothing more than just another IT solution. De-Fi projects gain value as part of the collective that is Web3.
Website: https://snowfallprotocol.io
Telegram: https://t.me/snowfallcoin
Presale: https://presale.snowfallprotocol.io
Twitter: https://twitter.com/snowfallcoin
