As the cryptocurrency landscape evolves, certain projects stand out for their innovative approaches and significant growth potential.
Here are the cryptocurrencies to watch in 2024.
Immutable X (IMX)
Immutable This significant funding highlights the sector's vast potential and investor interest. Immutable X's strategic partnership with his former competitor Polygon was a game-changer. Currently, the two companies control about 80% of the blockchain gaming market.
“Previously competitors Polygon and Immutable X now occupy a dominant position with most crypto games being developed within their combined ecosystem,” Baktyary points out. .
This partnership will transform Immutable X into a central hub for blockchain gaming, facilitating the development of over 200 games instead of just focusing on a single game.
“They're not just developing one game. They're becoming a hub for games built on blockchain.” This broader approach increases the chances of big success in the gaming space. ,” Bakchary says.
Additionally, Immutable X has partnered with major industry players such as Amazon Web Services (AWS) and Ubisoft, and its games are available on the Epic Games Store. These collaborations demonstrate the project's strong business development and widespread adoption potential.
Another key feature of Immutable X is its focus on zk-rollup technology, which enhances scalability, security, and user experience. This puts Immutable X at the forefront of technological innovation in the cryptocurrency space. “They are one of the pioneers of zk tech,” Baktyary adds. “This opens the door to much more than what the market is currently seeing.”
Polygon (MATIC/POL)
Polygon partners with Immutable X in the gaming space and stands out for its extensive contributions to blockchain technology. The widespread adoption of the Chain Development Kit (CDK), colloquially known as the Polygon stack, demonstrates the robustness and versatility of the technology.
“The adoption of the Large Chain Development Kit demonstrates Polygon’s significant presence in blockchain infrastructure,” Baktyary said.
Polygon's introduction of Polygon 2.0 adds multiple layers to its protocol, with the most notable layer being the staking layer. This layer uses Polygon's native tokens and allows validators to earn rewards, including transaction fees, from the chains they validate.
“Polygon (Saking Layer) provides additional revenue stream potential for validators,” Baktyary said.
Additionally, Polygon is a leader in zero-knowledge technology and its zkEVM is already in production. This technology enhances the privacy and scalability of blockchain transactions, making Polygon a pioneer in this field.
Polygon is also making strides in scalability by moving its PoS chain to Validium, including experimenting with parallel execution. This move further improves network efficiency.
“Polygon’s move to Validium demonstrates Polygon’s commitment to increasing blockchain modularity and Ethereum integration,” Bakchary said. Advances in technology and strategic direction highlight Polygon's role as a pioneer in the blockchain ecosystem.
Optimism (OP)
Optimism (OP) stands out as a key player in the blockchain space, with several significant achievements highlighting its importance in the evolving cryptocurrency landscape.
One of Optimism's key achievements is its successful stack implementation, ranking it second only to Polygon. In the world of blockchain, a “stack” refers to a hierarchy of technology solutions and protocols that build on each other to create a comprehensive system. In this context, the Optimism stack refers to the core codebase used to bootstrap other layer 2 blockchains within the Optimism ecosystem.
Baktyary said: “Optimism has the second-most public stack adoption after Polygon among Layer 2 stacks, including powerful companies such as Coinbase, which is passionate about maintaining stack integrity.” That includes clients.”
This high level of adoption demonstrates confidence in Optimism's technology and its broad application and integration potential across various blockchain platforms.
Another major development for Optimism is its partnership with Coinbase, one of the largest crypto exchanges. This collaboration with Coinbase, which uses Optimism's stack, is proof of the project's safety and technical robustness, and is “huge from a security perspective,” Baktyary points out. This relationship strengthens Optimism's credibility and extends its reach to a broader audience, driving further adoption.
In terms of governance and community engagement, Optimism has made significant progress and has received praise from the cryptocurrency community. The success of Optimism's governance model is also highlighted in the following articles: stanford paperdemonstrates a mature and thoughtful approach to involving the community in the decision-making process.
Baktyary said the Optimism team appears to be strongly aligned with the Ethereum ecosystem, indicating that the team adheres to blockchain's core values that resonate with a significant portion of the market. He added that
Like Polygon and Immutable X, Optimism is at the forefront of innovation with advances in zero knowledge (zk) technology.
“Optimism's Bedrock upgrade enables support for multiple execution layer clients and proof system abstraction, allowing rollups on the OP stack to use either a failure proof system or a validity proof system. ” says Baktyary.
“This upgrade is Optimism’s first step towards implementing zk technology.”
lamina propria
A project that is attracting attention as a pioneering technology is EigenLayer.
The project is further boosted by the prospect of a reward system for users, with Bakchary suggesting the move is aimed at thanking early adopters.
“Although EigenLayer does not have a token yet, its points system and the introduction of projects such as EigenDA have led the market to speculate that there may be an airdrop in the future,” he says.
The foundation of EigenLayer's innovation is our breakthrough Actively Validated Services (AVS) technology.
This technology brings the benefit of an external validator set to a variety of applications, from data availability layers to oracle networks, reducing the cost of network protection and validation.
“AVS is a very new primitive that allows blockchain validator security to be exported to new software sets and use cases,” Baktyary said.
EigenLayer's ability to export validator security can also contribute to improved ecosystem interoperability. Previously siled networks and ecosystems have had to bootstrap their own sets of validators, typically committing high token incentives to validators, all while maintaining a somewhat centralized set of validators. involves the risk of Early-stage networks can now derive validator security from another network where early-stage blockchain issues have already been resolved.
To address key issues within the Ethereum ecosystem, especially regarding staking providers, EigenLayer proposes a solution that brings balance and enhanced security.
“EigenLayer helps incentivize a limit system for staking providers with a majority share of validators, such as Lido. This is a highly controversial topic within the Ethereum ecosystem,” Bakchary said. says.
Furthermore, advances in EigenLayer could facilitate scaling solutions like Validium and expand the use of Ethereum validators to secure other blockchains, including Solana and Cosmos. This development represents a leap forward in blockchain scalability and security, and Bakchary points out that it is an important step towards broader application of Ethereum technology.
“EigenLayer helps enable Validium with projects like EigenDA and could theoretically allow blockchains like Ethereum to secure alternative layer 1 blockchains like Solana,” he says. Masu.
