The year 2022 will be remembered as the worst year in the history of Crypto markets. From LUNA crash to FTX bankruptcy. There was a range of unfortunate events that have put the credibility of the industry at risk. The worst isn’t over yet. We’re in 2023 and the situation doesn’t seem to improve after governments decided to impose strict regulations on the crypto market.
In between the chaos, I present you the top 5 chains that will surely make it through the storm and has high growth potential in the bull run. These chains stood the test of time and have a loyal user base using the network each day. Let’s take a look at each one of them.
1. Ethereum Network (ETH):
Founded in 2014 and launched in 2015. Ethereum was the first blockchain that was equipped with smart contract computations & Dapp creation features. It’s the unbeatable Altcoin, second only to Bitcoin.
In the past, Ethereum was criticised for high network congestion and high gas fees. However, it has become an attractive network for developers after it shifted from proof-of-work consensus to proof-of-stake consensus. Moreover, support from layer-2 chains like Optimism has added to the growth of the network.
Ethereum is the backbone of the crypto industry and distributed ledger technology. It’s an innovative network that keeps on updating and improving itself. The chain is here to stay and bloom in the bull run since it’s backed by a strong team and has a significant presence in both crypto and NFT markets, all thanks to its eco-system.
2. Binance Smart Chain (BNB):
Binance Smart Chain is a decentralized, scalable and secure network similar to Ethereum. It was rebranded to BNB Chain after its native BNB token. The network has the capability to process transactions at a lighting fast speed with the lowest gas fee possible (nearly equal to 0.0007 BNB per transaction.
Its ecosystem is also growing and has its own NFT marketplace. BNB chain was recently integrated with OpenSea, the largest NFT marketplace which will give you an idea of its growth plans.
Backed by Binance, the chain is here to stay and has the potential to match the growth trajectory of Ethereum in the next bull run. Checkout “Burger Runner” a blockchain game built on BNB chain that rewards $BUSD token to the winners.
3. Avalanche Blockchain (AVAX):
Avalanche is an open-source blockchain that is both scalable and interoperable. It is also the fastest network for executing smart contracts. The best part of Avalanche is its capability to support Ethereum Dapps at the lowest gas fees.
If you wish to explore its potential, take a look at its ecosystem. Supporting Solidity, its ecosystem is the replica of the Ethereum network. Top projects like AAVE, Chainlink, and Trader Joe are running on the Avalanche blockchain.
Take a look at the top 5 dapps on Avalanche blockchain.
4. Layer-2 Chains:
Ethereum based layer-2 chains help the network by reducing congestion and gas fees at the same time. Blockchains like Polygon (MATIC), Arbitrum, and Celer are some of the popular chains in this category.
L2 chains were initially developed to support the Ethereum network but they now have been building a solid ecosystem. Chains like Polygon have partnered with several NFT & gaming projects. Take a look at Polygon partnerships to understand the growth in the L2 segment.
L2 chains will continue to exist and evolve in the presence of the Ethereum network and are here to stay for the long run.
5. Hedera Hashgraph:
Hedera Hashgraph is not a blockchain but a competitor of blockchain technology with a somewhat similar architecture. Hedera is built for enterprises, providing enterprise-based solutions. It is also managed and maintained by leading tech giants including Google, IBM, Tata Communications and more.
Most of its partners are hosting the nodes of the chain which makes it centralized in nature. Hedera was patented but it recently opened to the public. Since the network has a solid foundation and is backed by tech giants, it’s quite obvious to say that Hedera will survive in any market crash.
Checkout Hedera Hashgraph partnerships taking HBAR to new heights.
This completes my post on top blockchains. In the next post, I will talk about Avalanche partnerships & BNB Chain partnerships. If you’re a fan of blockchain technology then do share this post on your social handles and educate everyone around you. Remember to subscribe to my YouTube channel for more informative content, released every week.
Paras is a blockchain writer & video creator at Katoch Tubes. In his free time, he loves watching space exploration documentaries & Hollywood movies.