According to the latest statistics from GlobeNewswire, the global market for blockchain technology will be US$3.4 billion in 2022 and will reach US$19.9 billion in 2026, growing at a compound annual growth rate of 43%.
Blockchain technology is becoming more and more important. From the concept to the application, this technology not only brings disruptive experiences such as NFT and Metaverse to users, but also empowers traditional industries such as finance, social networking, and sports, greatly expanding the boundaries of its development. Although the global economy is struggling under macro headwinds this year, the crypto market is also gradually entering a cold winter, but thanks to the increasing popularity of blockchain and related technologies in digital identity, payment, transactions and other applications, the growth trend in the crypto field is expected to continue.
As the most important underlying infrastructure in the crypto field, how to prepare for the rainy day and build a good public chain platform will give us the opportunity to create a more complete and rich Web3 ecosystem in the future. Looking back at the public chain projects in the last round of bull-bear transition in the crypto industry, it is not difficult to find that the public chain projects such as Solana, Cosmos, and Avalanche that have exploded by tens or hundreds of times have been born and accumulated against the wind in the bear market, seized the opportunity to stand out in the bull market, and then expanded rapidly. The market value of these public chains exceeded 300 billion US dollars at the peak of the bull market.
Before introducing the new public chain, let's review the existing public chain development pattern. In 2022, Ethereum "left the dust behind", and around the scalability problem of Ethereum, EVM-compatible public chains were produced. At present, EVM-based public chains have formed a huge encrypted ecological island group, which plays an important role in the entire public chain ecology. Non-EVM-based public chains such as DFINITY, Polkadot, Flow, etc. have carried out technical innovations from multiple angles, each shining. Interested developers can learn more about the development pattern of public chains in the article "Interpreting the Development Pattern of Public Chains, "Hundred Chains Contesting" may be the general trend".
Only by understanding the opportunities can we better seize them. In this bear market, which new public chain projects should we pay attention to? What development opportunities can we seize? This article will systematically review about 60 new public chain projects from L0, L1, and L2 this year. Due to the large number of projects, this article will be divided into two parts, upper and lower. It is recommended that you save it for later reading. Friends who want to see the simplified version can scroll to the end of the article for summary. The first part will focus on the two layers of public chains, Layer0 and Layer1.
2022 New Public Chain Highlights
A few things you need to know about the new public chain in 2022:
Move series is coming strong
Special chains for games, metaverse, DeFi, privacy, etc.
Modular blockchain emerges
Breaking the “isolated chain” and crossing all chains
DAO Chain returns ownership to community users
The fourth generation of public blockchain may break through the "impossible triangle of blockchain"
Environmental protection is the top priority, green blockchain is sought after by the global community
60 New Public Chains in 2022 (Part 1)
From the perspective of blockchain logic architecture, the public chain can be divided into three layers: Layer 0, Layer 1 and Layer 2. Specifically:
Layer0 corresponds to the "transport layer". This is where the Internet and hardware are connected, allowing blockchains to interact with each other. For example, Polkadot and Cosmos have created a cross-chain interoperable ecosystem at this layer. In addition, since it is at the most basic bottom layer, as long as they are built using the same Layer 0, developers do not need to start from scratch again and again, and many functions can be used at any time.
Layer1 corresponds to "data layer, network layer, consensus layer, incentive layer". This is where data is processed, transactions are conducted, block dispute resolution and other technical operations are handled on the blockchain. Ethereum is the most famous layer of public chain, but the most important problem facing this layer of public chain is how to overcome the "impossible triangle dilemma", namely decentralization, security and scalability. Although Ethereum has tried to solve the problem through upgrading through Merge, it seems that no layer of public chain can solve this problem well so far.
Layer2 corresponds to the "application layer and contract layer". This is a third-party integration used in conjunction with Layer1, mainly to improve the scalability and throughput of the blockchain. Currently, Layer2 technical solutions include three categories: State Channel, Rollups, and Plasma. Among them, the Rollups solution is favored by the Ethereum community and is divided into two types: Zero-knowledge Rollups and Optimistic Rollups.
In addition, Layer3 is the client application layer. Considering that the scalability and throughput of Layer2 still cannot meet the development needs, the combined operations between layers and the same layer are transferred to the customized Layer3. This is no longer within the scope of blockchain logic technology, and the Layer3 chain is still in the technical conception stage, so it is not included in the classification. The following will introduce the two new public chains of the year, L0 and L1, and L2 will be introduced in the next issue.
Layer0
As the reality of Web3 multi-chain coexistence becomes increasingly clear, it is inevitable that problems such as cross-chain transfer of information and assets will arise. Allowing blockchains to interact with each other at the Layer0 layer has become one of the ways to break the "isolated chain" problem.
LayerZero cross-chain lightweight
LayerZero introduces Ultralight Node (ULN), a full-chain interoperability protocol designed for lightweight message delivery across chains. LayerZero provides authentic and guaranteed message delivery through configurable trustlessness, relying on two parties to transmit messages on the on-chain endpoints ORACLE and RELAYER. LayerZero supports cross-chain state sharing, bridging, lending, swaps, governance, etc. Financing: more than $135 million.
Website: https://layerzero.network/
Wormhole connects everything
Wormhole leverages the power of universal messaging and a single SDK to make xChain richer than ever with an interoperability protocol, further exploring more about how to grow the user base with xChain. The protocol has a total transaction volume of over $35B and has successfully transmitted millions of messages. Currently, thousands of messages are submitted every day. This month, Wormhole made its first attempt to connect to the Cosmos ecosystem to achieve cross-chain federation.
Website: http://wormholenetwork.com/
Layer1
In the last bull market, the battle of Layer1 public chains was fierce, and both EVM-based public chains and non-EVM-based public chains had their own leaders that were all the rage. This year, many Layer1 public chains were born in the bear market, and they centered around network scalability, security, and the "impossible triangle" technological innovation, generating a number of emerging projects.
Move, a new public chain, is coming
After several rounds of strong financing this year, Move-related public chains Aptos and Sui have attracted nearly $500 million in investment from top VCs including a16z, and their popularity and popularity have risen rapidly, becoming a rising star in the crypto winter. We have introduced the charm of the Move language in the article "Developers earn up to $1,200 per hour? This article takes you closer to the programming charm of the Move language!", as well as "Aptos VS Sui, a review of the innovative similarities and differences of the two new Move-related public chains". Interested developers can learn more from the relevant tweets.
Come on
Sui is the first permissionless Move blockchain designed from the ground up to enable creator developers to build experiences that will satisfy the next billion users in Web3. Sui's high throughput and low latency performance will be more suitable for building rich and dynamic on-chain assets from games to finance. Raised approximately $336 million.
Website: https://sui.io/
Apartments
Aptos can be said to be the public chain with the fastest development progress and ecosystem start-up in the current Move series Layer1. Although it is not a new chain this year, it has made qualitative development this year. Aptos is a blockchain network designed for billions of people to use decentralized applications. It is committed to redefining the products and applications of Web3 user experience. It is highly scalable and modular. At the same time, it achieves a developer-friendly environment through the Move language architecture smart contract. The main network is now online. Financing: 350 million.
Website: https://aptoslabs.com/
Dedicated chain
Oasys Architecture for Gaming
Oasys Architecture is designed for game developers. By combining the best public L1 and private L2 blockchain technology solutions, this unique architecture consists of a multi-layered Hub-Layer structure and is highly scalable. It can provide users with a high-speed, zero-gas-fee experience. Financing: More than $20 million.
Website: https://www.oasys.games/
Caduceus focuses on the Metaverse
Caduceus is the world's first blockchain dedicated to Metaverse development. It is a distributed ledger-based platform with unique technology that can more efficiently deploy and run Metaverse applications. P2P communication, IPFS storage and more loads are all on the Caduceus Metaverse protocol. It puts tools in the hands of creators to subvert the entire world of travel, education, social, film and television, games and entertainment. Funding: $4 million+.
Website: https://www.caduceus.foundation/
Sei DeFi Protogenesis Link
Sei is the first blockchain specifically designed for trading, giving exchanges an edge through a native order matching engine, front-running protection, and multi-level order bundling. With a transaction speed of 600 milliseconds, it is the fastest chain on the market today. Funding: $55 million+.
Website: https://www.seinetwork.io/
Onomy Cross-Chain DeFi
Onomy is a layer 1 blockchain built with CosmosSDK, using inter-blockchain communication protocols to bridge with other Cosmos ecosystem project chains, and is committed to obtaining CEX experience on the chain. Currently, Onomy provides rails for a large number of US dollar foreign exchange markets to access DeFi every day, and has a complete ecosystem across Arc Bridge Hub, Access Mobile Wallet and Onomy Exchange. Financing: more than $15 million.
Website: https://onomy.io/#forex
Modular blockchain
Celestia
Celestia is the first modular blockchain network that allows sovereign blockchains to break free from the constraints of a monolithic architecture so they can be built with flexibility and freedom on their own terms, designed to make it easy for anyone to deploy their own blockchain with minimal overhead. Funding: $56M+.
Website: https://celestia.org/
Community DAO Chain
Unit
Unit connects creators and communities on decentralized markets through powerful, secure, and user-friendly tools. It will be used to create and manage the economic infrastructure of DAOs, leveraging the power of Web3 to take your business or brand to the next level. It is a layer 1 blockchain built using the Substrate framework with funding from the Web3 Foundation. Funding: $13 million+.
Website: https://www.unit.network/home
0L
0L is a new layer 1 blockchain protocol. It is open, permissionless, and community-governed, combining state-of-the-art blockchain technology with truly decentralized governance. The 0L network is an open source fork of Diem, a community-driven project using the Move programming language, focused on collective contribution and co-construction.
Website: https://0l.network/
Privacy Chain
Anoma
Anoma is a privacy-preserving protocol that “the web should be a benefit to the public, not an industry that turns the public into a commodity.” It enables any digital representation of value to be used as a means of exchange, payment, or trade, unleashing an entirely new way to build economies.
Website: https://anoma.net/
Partisia
Partisia is built for trust, transparency, privacy, and speed. Its mission is to build a Web3 infrastructure without a single point of trust for universal coordination of public and private information, for use by all applications on all platforms. Providing an additional layer of data protection on the blockchain, users can control access to their data through ZK Computations. In addition, Partisia is green and environmentally friendly, consuming only one thousandth of the energy required by traditional blockchains. Funding: $45 million+.
Website: https://partisiablockchain.com/
Come on
Aleo is the first platform to offer fully private applications. They achieve this by leveraging a decentralized system and zero-knowledge cryptography to protect user data on the network. Funding: $228 million.
Website: https://www.aleo.org/
Worldcoin
Worldcoin is building what is known as the Privacy Preserving Proof of Identity Protocol (PPPoPP). By making Worldcoin freely available to everyone, it aims to become the world's largest and most inclusive crypto network. Its vision is to connect the first billion users in a jointly owned crypto network. Funding: $125M+.
Website: https://worldcoin.org/
Balancing Regulation and Decentralization
Redbelly
Redbelly is uniquely suited for assets in regulated markets, balancing for the first time the enforceability and social license of regulated markets with the speed and efficiency of blockchain. All participants on the Redbelly Network are identified through our network of off-chain digital identity providers. Funding: $3.6M+.
Website: https://www.redbelly.network/
Cross-chain interconnection of everything
ZetaChain
The world’s first and only blockchain that connects everything. It facilitates cross-chain and cross-layer value transfers, messaging, and smart contract calls — enabling for the first time omnichain dApps (odApps) that can tap into liquidity on multiple networks, and read and update state on all connected networks. ZetaChain is the base layer for a multichain future. The novel blockchain enables multichain functionality without the use of bridges or wrapped tokens, and can easily deploy omnichain-dApps or odApps. These applications can manage and connect data and value across all smart contract platforms, as well as non-smart contract platforms. Supports omnichain, universal smart contracts, and messaging between any blockchain. They solve the problem of “cross-chain” and “multi-chain”.
Website: https://t.co/gZhl1tZpT3
The trilemma breaker
Subspace
Subspace is a fourth-generation blockchain built for the next wave of crypto developers. It uses advanced technology to solve the blockchain trilemma without sacrificing security and decentralization, archives the history of the blockchain ecosystem, and enables simple, secure and trusted bridges between networks to achieve true interoperability. Currently supports interaction with Polkadot and Kusama networks. Funding: more than $33 million.
Website: https://zh.subspace.network/
Quai
Quai Network is a proof-of-work blockchain network, the fastest and most secure blockchain, creating the only decentralized solution that is scalable to all global commerce, allowing users to enjoy fast transaction times with decentralization and security. Capable of processing thousands of transactions per second, Quai Network is a scalable proof-of-work solution that is ready for mainnet launch.
Website: https://quai.network/
PraSaga
The most advanced next-generation layer-1 blockchain - designed to avoid the limitations faced by other blockchains and fully supported by a global community ecosystem. Eliminates smart contracts and has developed SagaPython™ to empower developers. Also, increases hashrate per chain by 100x or more than Bitcoin blockchain and reduces energy consumption by 100x or more. A truly innovative solution to the problems faced by other layer-1 blockchains. Funding: Over $4M.
Website: https://www.prasaga.com/
Minima
Minima aims to be accessible to as many people as possible. It is the world's first fully decentralized blockchain, the only blockchain fully controlled by users, the only blockchain that runs entirely on mobile phones, and exchanges value with anyone without intermediaries. Currently, hundreds of thousands of nodes are verifying and building the network. Funding: $5.6 million.
Website: https://www.minima.global/
In addition, projects such as Linera, Massa, Odsy, and Berachain are all working to solve the decentralization trilemma, providing higher performance, reliability, and scalability, creating decentralized applications with near-instant interactions and lower end-user costs. Due to the length of the article, we will not expand on this, and interested developers can visit the official website to learn more.
Environmentally friendly blockchain
5ire
5ire is designed with economic and environmental sustainability at its core. They are one of the fastest growing unicorns in India, with community support from all over the world. It has the advantages of interoperability, high throughput and low fees, and can send assets, collectibles or files to any chain, mobile number or Web3 address. The project vision is to make blockchain sustainable and accessible to more than 1 billion people by 2030. Funding: $250 million+.
Website: https://www.5ire.org/
Setting sail against the wind, the new public chain remains true to its original intention
With the advent of the bear market, the crypto space has experienced a turbulent year. However, judging from the development of emerging public chains, Web3 is still releasing its unique charm globally. Public chains are the most important basic components in the blockchain field. In 2022, the trend of Ethereum being one superpower and many strong ones has not been broken, but new public chains are going against the wind and emerging like mushrooms after rain.
The above article introduces the development of new Layer0 and Layer1 public chains of the year. First of all, cross-chain projects that introduce ultra-light nodes have appeared in the Layer0 layer, which means that the security of cross-chain interoperability will be greatly improved. At present, almost all existing methods for cross-chain bridging and message passing belong to one of two categories. The first is to form a consensus, form an intermediate chain, verify and forward messages between chains. Due to its low cost, most projects will adopt this method. The second is to run a light node on the chain, which is very secure but very expensive. I look forward to the development and growth of the project's ecology in the later stage, which may be able to break the problem of blockchain islands.
The competition in the Layer1 public chain is still very fierce this year. In general, although their technologies are different, we can find several commonalities:
First, the development of new public chains has broken away from traditional narratives.
New public chains are no longer satisfied with simply solving the blockchain impossible triangle dilemma. In addition to adhering to the principle of decentralization to solve security and scalability issues, they have also taken new approaches to help the Web3 industry develop better.
Second, the transformation of consensus mechanisms is an inevitable trend, and public chains pay more attention to green and environmental protection.
This is also closely related to the vigorous "Green Blockchain" campaign this year. Everyone hopes to reverse the bad impression that blockchain "damages the environment". Even a dedicated environmental protection public chain has emerged and has been sought after by the global community.
Third, except for a few new public chain companies, the financing of most public chain projects is not optimistic.
We know that the development and growth of public chains, especially Layer1 public chains, is not achieved overnight. The early stages of development require intensive financing, talent, and time investment. Affected by the crypto winter, at a critical moment when the market is tightening, financing support may be insufficient, and many new public chains will soon usher in a round of reshuffles.
However, high-quality projects can survive the test of time and emerge from the crypto winter with technological innovation. They may become the next unicorn star that grows a hundredfold. Let us wait and see.
This is the first part of the 2022 New Public Chain Inventory. In the next part, we will focus on the development of Layer2 public chains. Please stay tuned. In addition, TinTinLand has launched a series of public chain interpretation articles. Interested developers can check out the "Previous Highlights" at the end of the article. If you have any public chain projects or public chain insights that you are interested in, you are also welcome to leave a message in the background to discuss with us.
