Cardano (ADA) aims to empower individuals by decentralizing power and enhancing transparency through innovative decentralized applications and smart contracts.
Polkadot's Interoperability: Polkadot (DOT) utilizes a sharded multichain protocol to enable seamless communication between independent networks, facilitating a decentralized web and novel application development.
Chainlink's Oracle Network: Chainlink (LINK) connects smart contracts to off-chain data, enhancing their functionality and encouraging community participation in blockchain technology's evolution.
The blockchain network is changing fast, and new ideas and projects are emerging, with Cardano, Polkadot, and Ethereum at the forefront. Additionally, these platforms seek to revolutionize the way people are empowered, the level of transparency, and the very approach to ownership of digital assets.
Cardano(ADA) Vision for Global Change
Current price:$0.3643
Market cap:$12.7B
Launched in 2017, the Cardano blockchain platform employs the proof-of-stake strategy and plans for the population of ‘changemakers, innovators, and visionaries.’ This project's vision is geared towards transferring power from shadowy structures to individuals. As a result, a more secure, less corrupt, transparent, and fair society is better fostered.
However, the Cardano team demonstrated its technology's potential by allowing the creation of decentralized applications and smart contracts. September 2021 also marked the beginning of Cardano's rapid development, as the Alonzo hard fork was finally introduced.
Polkadot(DOT) Interoperability Solution
Current price:$4.26
Market cap:$6.4B
Polkadot offers a sharded multichain protocol, which increases the ability of blockchains to perform different functions. This is the layer-0 metaprotocol where independent networks, called parachains, exist to serve multiple applications, communicate, and exchange value without the need to trust any single entity. Morever, the native DOT policy is designed for staking, governance, and the use of bonding tokens to attach the parachains. The structure of Polkadot allows access to the decentralized web, and the developers can develop novel applications with relative ease.
Ethereum(ETH) Pioneering Platform
Current price:$2,499
Market cap:$300.7B
Since its launch in 2015, Ethereum has become the market platform for many cryptocurrencies and smart contracts. The projects spearheaded by Buterin have done very well, boasting more than 270% compounded yearly returns on investment after their ICO in 2014. Ethereum focuses on providing unfettered application availability worldwide at a low cost; it will undoubtedly continue its leadership in the blockchain sector.
Polygon(Matic): Scaling Ethereum's Potential
Current price:$0.3824
Market cap:$1.09B
Polygon Network is a layer two scaling solution created to improve the Ethereum network. It provides the architects with the lab to create different projects and seeks to boost the use of coins in daily activities. This enables the development of rollup chains and high throughput, with transaction processing levels reaching 65000tps.
Chainlink(LINK) Decentralized Oracle Network
Current price:$11.31
Market cap:$7.0B
Chainlink a decentralized oracle network, and its development, which started in 2017, captures how smart contracts relate to outside computing resources. This new development allows smart contracts to incorporate more complex configurations since blockchains can use information off the chain. Because of the extreme decentralization of the Chainlink community, many users are encouraged to lean over the evolution of current and future applications of blockchain technology.
The post Cryptos With Potential in October 2024: Ethereum and Chainlink appeared first on Crypto News Land.
