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Top 5 Promising Public Blockchain Projects in 2023

By: Get News

As the most important infrastructure in the crypto world, recent years have seen a rapid development of public blockchains. According to the statistics of DefiLlama, as of December 2022, there are 159 public chains that have been recorded, an increase of 289% over 2021. In addition, the total value locked (TVL) of each major public chain has also reached record highs repeatedly, including the peak in December 2021, with a total TVL of $180 billion. In this wave of public chain development, countless phenomena and applications have been born, and unimaginable wealth myths have also been created. However, although new public chains are developing rapidly, it still faces many problems in its commercial application. For example, the extremely hot Solana blockchain compresses node performance to increase its operational speed, making it less decentralized and more vulnerable to node failure; Near protocol has a sharding scheme with asynchronous cross-contract calls, which increases the complexity of the system; Binance Smart Chain (BSC) is overly dependent on binance's traffic and the low threshold of entry makes too many fraudulent projects in its ecosystem. Entering the era of blockchain 3.0, there are bound to be higher requirements for the performance, security and commercial stability of public chains, so what are the top five promising public blockchain projects in the next 5-10 years?

1. Aptos

Aptos has attracted much attention since its birth. It not only has the original core team of Libra, but also has almost all the top institutions in the cryptocurrency industry, such as A16z, Binance Labs, Coinbase Ventures, and Multicion Capital. It is intended to build the first layer of network that is "the most secure and scalable", and to increase its transaction speed to 160,000 transactions per second. Although this blockchain has been criticized by users for its overvaluation and selfish token distribution mechanism of, its future development is still worth being optimistic with its strong technical concept and first-class industrial resources.

2. Sui

Sui, also founded by the original core team of Libra, is developed in the same Move language as Aptos, and has also received funding from FTX, Coinbase, Binance, A16 and other top institutions. The team includes their chief executive officer Evan Cheng, former head of R&D at Novi and director of engineering at Meta (Programming, Languages & Runtime), who worked at Apple for 10 years, and chief technology officer Sam Blackshear, former principal engineer at Novi, who is devoted to Move and has a strong team. With a focus on its asset security and performance improvement, although it started a little later than Aptos, this blockchain is no inferior to Aptos in terms of ecological development and public concerns. In the future, both Sui and Aptos are likely to become one of the strongest public chains after Solana.

3. BFM

Compared with Aptos and Sui, BFchainMeta is a rather low-profile public chain. Its team, which is not keen on marketing hype, has been working on research and development of blockchain technologies for nearly seven years, and has made epoch-making breakthroughs in consensus mechanism, data storage, private key management, cross-chain assets and other aspects. At present, it has obtained more than 40 international patents about blockchain. In addition, BFChainMeta has built a blockchain system based on mobile terminals, which breaks the constraint that traditional blockchain projects must run on personal computers, and thus become the first public chain in the world to develop mobile blockchain applications. Due to its dedication to technological development, strong innovation ability and significant breakthroughs achieved, it deserves an optimistic future.

4. LayerZero

LayerZero is a lightweight cross-chain interoperability protocol for DApps. It has achieved better compatibility in cross-chain security and operating costs, and can effectively solve the current problems of DApp projects including the inability to achieve cross-chain synchronization and the liquidity fragmentation. Stargate, the first cross-chain product launched by the project, has also induced a huge reaction in the industry. In the era of multi-chain interconnection, cross-chain agreements will become a rigid demand and have a large market potential. As a better compatible protocol in terms of cross-chain security and operating costs, LayerZero will surely occupy its own place in the crypto market.

5. Aleph Zero

Aleph Zero (Azero), known for being faster, safer and more decentralized, is far ahead of existing mature public chain projects in terms of transaction speed, with a maximum of 100,000 transactions per second. Based on a Directed Acyclic Graph (DAG) algorithm, Azero allows concurrent writing and multiple blocks to be packaged concurrently, thus greatly improving network efficiency. In addition to high performance, Azero also focuses on privacy protection, to which more and more attention is being paid with the continuous development of blockchain, especially in commercial use. The project has a strong team made up of doctoral students from prestigious universities and highly sophisticated talents with years of work experience in the Fortune 500, all of which have excellent R&D and innovation capabilities. With its high performance and focus on privacy protection, Azero has a bright future.

Since the launch of Ethereum in 2015, the era of smart contract has been created, and since then, public blockchains have made great breakthroughs in performance, scalability and other aspects with the birth of excellent public chains such as Solana, Avalanche and BSC in recent years. However, the development of public chains goes far beyond this, and there is still more space for public chains to develop their technology. Therefore, we need keep a close eye on some public chain projects with advanced technologies, a strong team and significant breakthroughs! Perhaps the next leading project will be born among them.

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