Disclaimer: The Industry Talk section contains insights from players in the crypto industry and is not part of the editorial content of Cryptonews.com.
Ethereum has long been the king of smart contract platforms, not least because of the huge number of applications already running on the platform and the number of developers who are building on it.
As one of the first smart contract platforms, however, it is getting on in years and is now struggling to keep up with the rapid demand for decentralized applications. With gas charges skyrocketing, transaction delays rampant, and numerous other frustrations for the end user, many developers are now looking for suitable alternatives.
Fortunately, there are dozens of Ethereum competitors currently in development – some of them offer features that are hard to beat. Here we take a look at three of the most promising in 2021 and beyond.
QAN is considered the first quantum-resistant blockchain platform and was developed to host the next generation of truly secure decentralized applications (DApps).
With the rapid improvement in quantum computing capabilities thanks to the recent advances of companies such as IBM, Fujitsu, Google and Honeywell Quantum computers are rapidly approaching the ability to crack current generation encryption systems – including SHA256 from Bitcoin and KECCAK-256 from Ethereum. If they are ever cracked, it could decimate the two platforms and all other platforms that have similarly outdated security.
Not only is QAN quantum attack-proof, but it also stands out from Ethereum and most other blockchains because the emphasis is on the developer experience. The platform is designed to make building DApps an incredibly easy task, accessible even to those with limited development experience. In short, QAN enables developers to build and deploy their DApps in minutes, compared to hours or days on other platforms.
With its 1-click hardware and cloud deployment, support for development in multiple languages (including C, C ++, Rust, etc.), and support for up to 97,000 transactions per second (tps), QAN is well positioned to to see an explosion of innovation with the upcoming release of its main network in the first quarter of 2022.
Interoperability is increasingly becoming an incredibly important pillar of the blockchain landscape.
As more and more projects strive for use across multiple chains and want to build an ecosystem of cross-chain partners and interactions, there is now a great need for a platform that can support these projects.
Polkadot is quickly becoming the first choice for many of these projects as it is able to connect any existing blockchain to a number of Polkadot-based chains without the need for changes to the base layer. This enables real value and information transfer from one chain to another and helps break the closed loop approach to application development by giving users access to the best features of each connected chain.
In addition to its impressive support for cross-chain interactions, Polkadot also has a future-proof upgrade feature that allows new features to be added and bugs to be added without forking the chain and causing a split in the community. Combine that with extreme scalability and an energy-saving Nominated Proof-of-Stake (NPoSs) consensus, and Polkadot looks like a powerful platform for developers.
With the Parachain auctions slated to go live later this year, and the first wave of interoperable blockchains launching shortly thereafter, we may be on the cusp of a new interoperable blockchain future.
In addition to blockchain, artificial intelligence is widely regarded as one of the key technologies of the coming years and decades – with AI-supported tools that will revolutionize practically every industry.
It is therefore not surprising that the paths of these two technologies will eventually cross and a blockchain platform will emerge that uses the power of AI to iterate itself and adapt to changes in network demand.
Velas is just that. The platform leverages cutting-edge cryptography and artificial intelligence to create a self-managed, adaptable blockchain capable of withstanding and adapting to the stresses associated with supporting massively scalable decentralized applications.
Based on the Solana code base, albeit with some powerful modifications, Velas is designed to support a rapidly growing ecosystem of DApps and products. The platform uses a unique AI-driven consensus mechanism called AIDPOS to maximize the stability and scalability of the blockchain and ensure a consistent experience for all DApps.
The platform recently migrated to its 3.0 mainnet, bringing a number of next-generation features with it, including a social media platform called BitOrbit, support for synthetic assets, and a novel security mechanism called Velas Vault. Velas wants to offer a full-fledged ecosystem that developers can use to develop high-performance applications.