- Sui improves the user experience with innovations such as zkLogin and programmable transaction blocks, driving Web3 adoption.
- Optimism scales Ethereum using optimistic rollups, securing transactions and enabling faster and cheaper Ethereum transactions.
- Immutable focuses on the scalability of NFT and ensures secure, fee-free mining and trading on the Ethereum network.
The blockchain world is growing rapidly and the new platforms Sui, Optimism, Immutable, Saga Protocol and Algorand offer exciting scalability, usability and security solutions. Looking at these layered projects, several future token releases could bring new opportunities and new challenges that change the Web3 paradigm for users and developers.
Sui: Easy to use from the web3
Current price:$1.64
Market cap: $4.3 billion
Sui is a Layer-1 blockchain platform whose raison d’etre is intended for a global audience. The platform is about addressing the weaknesses of the existing designed and implemented traditional blockchain designs through the use of object-oriented data models and Move programming language. Additionally, Sui aims to improve the usability of the platform through features such as zkLogin, programmable transaction blocks and sponsored transactions. The focus of these innovations is to break down walls and improve accessibility for users and developers of the Web3 ecosystem.
Optimism: Improving Ethereum Growth
Current price:$1.88
Market cap: $2.3 billion
Optimism is a Layer-2 solution on Ethereum that increases capacity through optimistic rollups. Where transactions take place on Optimism, they are ultimately guaranteed on Ethereum. This structure allows Optimism to leverage the security of Ethereum without sacrificing transaction speed. With a Total Value Locked (TVL) of over $500 million and 97 active protocols on its network, Optimism is on its way to becoming an industry household name. Major dApps such as Synthetix, Uniswap and Velodrome are working on Optimism under live conditions and users experience no hiccups when scaling.
Immutable: The Answer to NFT Scalability Problems
Current price:
Market capitalization:
Immutable offers a Layer-2 scaling solution specific to the NFTs on the Ethereum blockchain. The platform is built to solve primary problems such as scale, liquidity and gas costs, and so users can buy/sell/trade NFTs without incurring any fees. It also scales tremendously, making it possible to create many and federated tokens such as ERC-20 or ERC-721. Projects such as Gods Unchained can already use Immutable’s reliable and fast Blockchain technology.
Saga Protocol: Scalability for Game Development
Current price:$2.38
Market cap: $244.3 billion
By using the Chainlet system, Saga Protocol gets a Layer-1 solution without any limitations for horizontal scalability. Such Chainlets are copies of the Saga Mainnet, but are used to build blockchains that do not contain applications, but are themselves application specific. Equipped with such infrastructure, Saga is focused on developing next-generation gaming and entertainment applications, which will be able to offer scalability as a service and full integration into other ecosystems. The platform is on a mission to facilitate the integration of widespread blockchain practices into real-world consumer applications by offering affordable, yet efficient solutions of this technology.
Algorand: Making Efficient and Scalable Blockchain Solutions Simple
Current price:$0.1407
Market cap: $1.1 billion
Algorand is a self-financing, distributed and efficient blockchain protocol designed with growth in mind. According to data, Algorand has processed nearly a million transactions daily since launching as a mainnet in 2019. The platform’s focus is on developing secure and scalable systems that support applications that require strong assurance about availability and performance. Algorand’s vision is to create an ecosystem of blockchains that can accommodate various blockchain applications without sacrificing performance or security.