In his today’s article John Chen, a Research Engineer at Uber, explains five blockchain game-changers. His list includes Nano, Skynet, Hashgraph, Polkadot and Basic Attention Token.
Chen and his team picked out five blockchain projects, which are in their opinion have the highest potential to disrupt their respective industries.
The first place on the list belongs to Nano, a low-latency zero-fee cryptocurrency. Nano, explains Chen, uses a Directed Acyclic Graph block-lattice architecture. Every user is assigned and controls their own blockchain to store account information, and each blockchain is updated asynchronously to the rest of the block-lattice. This means that there is no need for proof-of-work protocols to establish consensus, which makes Nano a scalable, instant cryptocurrency with no fees.
Chen puts Skynet in the second place. The Skynet Project seeks to make the vision of IoT (Internet of Things) a reality by introducing blockchain- and AI-oriented chips, Skynet Cores. Skynet plans to deploy their chips to billions of devices, which will ‘participate effortlessly in a global machine-to-machine economy’. Skynet Core are completely license-free, which means they have the potential to replace completely dominant semiconductors.
The third item is Hashgraph technology. The hashgraph consensus ‘combines the gossip protocol in the form of 'gossip about gossip' with a voting algorithm to reach consensus quickly and securely without proof of work’. The Hedera Hashgraph network, a dapp platform powered by the hashgraph, can potentially achieve a volume of hundreds of thousands of transactions per second and surpass Visa standards.
Polkadot, the last but one, is a framework that allows different blockchains to interact with one another. Polkadot enables cross-blockchain transactions by providing an inter-chain, an intermediate protocol for secure messaging between blockchains, regardless of their type, be it a private blockchain or a public one. Polkadot seeks to reshape the existing Internet structure and bring a completely decentralized version, Web3.
Basic Attention Token
The last but not the least is Basic Attention Token. BAT is the native ERC20 token of the Brave ecosystem. The Brave project wants to revolutionize the current advertising model, where ‘Internet users are required to sacrifice time, privacy and attention in order to use it for free’. Instead, the Brave browser, an instrumental component of the Brave ecosystem, will cut out any middlemen such as Facebook, Twitter, or Youtube and allow publishers and users interact directly via BATs. Though the project has all the makings of an advertising game-changer, it is too early to say whether it sees wide adoption.
Finally, Chen gives an optimistic conclusion: