- The projects are expected to be launched later this year or early next year.
- The projects are Polkadot, BloXroute, Origin and Filecoin.
Developers are currently focusing on the key features of blockchain infrastructure to eliminate bottlenecks for mass adoption, volume transactions and ease of use. The new blockchain-based platforms are believed to be driving efficiencies and transforming industries by making the utmost use of decentralization to challenge legacy systems that are prone to manipulation.
Dan Morehead, CEO of blockchain investment firm Pantera, pointed out four upcoming blockchain projects created to tackle scalability and interoperability. The projects are Polkadot, BloXroute, Origin and Filecoin.
Morehead says:
“We have been supporting them since their earliest stages of development and are excited to see working products ship. Not only will this bring more liquidity to our ICO funds, but also bring additional robustness to blockchain infrastructure.”
Polkadot:
“The technology is aiming to bridge disparate blockchains through a system of relay chains and parachains”¦ As the market is signaling a multi-blockchain ecosystem, it will be important for cross-chain communication protocols to connect them.”
BloXroute:
“The project is described as a “layer 0″ solution as it focuses on the underlying network layer – the biggest bottleneck in scaling. For context, when you send a transaction on ethereum or bitcoin, you have to broadcast that transaction to a group of computers who then relays it to another group of computers. It’s like a game of telephone except it takes a really long time because each person has to call ten of their friends who then call another ten.
After ten hops, all of a sudden it’s taken a long time to complete one phone call. The idea with bloXroute is, instead of having to call ten sequences of people to route your phone call, why not just do one direct call.”
Origin:
“A protocol for creating decentralized marketplaces on ethereum. The idea is to connect buyers and sellers directly, effectively removing the rent-seeking entities that charge 20-30% for each transaction on their platforms. The total addressable market within the sharing economy model is massive and so are the fees extracted by the middlemen in control: Uber, Lyft, Airbnb, etc. In theory, removing these entities out of the equation would effectively allow for significant cost reductions for both the buying and selling sides.”
Filecoin:
“A protocol for creating decentralized marketplaces on ethereum. The idea is to connect buyers and sellers directly, effectively removing the rent-seeking entities that charge 20-30% for each transaction on their platforms. The total addressable market within the sharing economy model is massive and so are the fees extracted by the middlemen in control: Uber, Lyft, Airbnb, etc. In theory, removing these entities out of the equation would effectively allow for significant cost reductions for both the buying and selling sides.”
Morehead says that he expects the much-awaited projects to be launched later this year or early next year. He also warns investors to be patient as developers need time to build solid projects:
“These applications and technologies aren’t developed overnight. Months-to-years of development and beta testing take place before projects can be deployed. An unfortunate byproduct of raising capital through an ICO or public token offering is an accelerated expectation of when final products are shipped.
The reality is that investing in these projects is like early-stage venture but with a real-time price feed. These technologies will take a while to build and they will be iterated upon many times before they work. So we encourage investors to keep that in mind as the foundations of the future crypto landscape are being built today.”
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