Introduction
The year 2024 was a landmark year for the cryptocurrency industry, marked by significant advancements and successful project launches. From major protocol upgrades to the introduction of new infrastructure networks, several crypto projects stood out and delivered on their promises1. Here are the top 10 crypto projects that made a notable impact in 2024:
1. Avalanche 9000 Etna Protocol Upgrade
The Avalanche network's "Avalanche 9000" Etna upgrade, launched on December 16, 2024, was the biggest in the protocol's history. This upgrade simplified the process of launching subnets and reduced subnet deployment costs by 99.9%1.
2. Sui Implements Mysticeti Consensus Engine
In August 2024, the Sui protocol implemented the Mysticeti consensus engine, slashing consensus latency to 390 milliseconds and enhancing efficiency.
3. Sonic Labs Launches Sonic Mainnet
The Sonic Foundation, overseen by the Fantom Foundation, launched the Sonic Chain in May 2024. This Ethereum Virtual Machine-compatible layer-1 blockchain featured sub-second finality times and a throughput of 10,000 transactions per second1.
4. Hyperliquid Launches Token, Enables Staking
Hyperliquid, a layer-1 blockchain optimized for decentralized finance, initiated one of the largest token airdrops in crypto history on November 29, 2024. The project distributed 310 million HYPE tokens to community members1.
5. Ethereum Dencun Upgrade Goes Live
The Ethereum network saw the successful implementation of the Dencun upgrade, which aimed to improve scalability and security.
6. Cardano's Chang Hard Fork Introduces Onchain Governance
Cardano introduced the Chang hard fork in 2024, bringing onchain governance features to the network.
7. Near Protocol Implements Stateless Validation Through Nightshade 2.0
Near Protocol launched Nightshade 2.0, which introduced stateless validation to enhance network performance.
8. Movement Mainnet Launch
The Movement project successfully launched its mainnet, providing a new infrastructure network for decentralized applications.
9. Bitcoin and Ethereum Spot ETFs Approved in the US
The US Securities and Exchange Commission approved several spot ETFs for Bitcoin and Ethereum, allowing traditional investors to gain exposure to these cryptocurrencies.
10. Bitcoin Completes Fourth Halving Event
Bitcoin completed its fourth halving event in April 2024, reducing the block reward and impacting the supply dynamics of the cryptocurrency.
Conclusion
These projects not only delivered on their promises but also set new standards for innovation and efficiency in the crypto space. As we move into 2025, the impact of these advancements will continue to shape the future of cryptocurrencies and blockchain technology.
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