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Cardano is a blockchain built on the groundbreaking Ouroboros proof-of-stake consensus protocol, and developed using the Haskell programming language: a functional programming language that enables Cardano to pursue evidence-based development, for unparalleled security and stability.Cardano is well-known for its high transactions-per-second and for its energy efficiency. ADA is the native token of Cardano.
Created by a former co-founder of Ethereum, Polkadot is a platform that seeks to connect multiple blockchain networks into an 'Internet of Blockchains'. It accomplishes this with its unique use of a main 'Relay Chain' where transactions are agreed upon. The native token DOT has three key functions in the platform – governing the network, operating the network, and creating ‘parachains’ by bonding DOT. Its value is growing because DOT connects several chains in a single network, allowing transactions in parallel and data exchange between chains with security guarantees.
Tezos (XTZ) uses a proof-of-stake protocol which creates strong incentives for users to actively participate in the development process. Tezos' consensus model permits the platform to upgrade rapidly without the risk of a 'hard fork'.
Polygon (formerly known as Matic Network) is a Layer-2 scaling solution for Ethereum. The Polygon network facilitates Ethereum transactions through sidechains – which run parallel to the main Ethereum chain – providing additional transaction speed and scalability. The MATIC token serves transactional, governance and security functions for the network.
EOS is a unique blockchain platform and cryptocurrency that is designed for developers to build decentralized applications (DApps). To maintain its network, validators are rewarded with newly-issued EOS tokens, rather than receiving transaction fees. This means that the EOS network is essentially fee-free for participants and developers. EOS tokens are also used to vote on proposed upgrades to the network.
Ethereum Classic (ETC)
Ethereum Classic is a decentralized network that runs smart contracts. ETC was created as a result of a hard fork of the original Ethereum (ETH) blockchain in 2016, when a group of ETH developers chose to stay with the original blockchain rather than participate in a controversial upgrade. As a result, ETC is now a fully independent cryptocurrency from ETH with separate groups of nodes and developers.
Solana is a platform for building blockchain-based products and services. Its unique consensus mechanism, known as ‘proof-of-history’, enables high transaction speed and low settlement times. The SOL cryptocurrency is involved in transaction processing, and provided as a reward to validators who help maintain the network. It is also a governance token, permitting holders to vote on changes to the protocol.
Algorand is a decentralized financial network and cryptocurrency platform. Designed for low environmental impact, its pure proof-of-stake (PPoS) consensus mechanism enables high transaction speeds and instant settlement, without sacrificing security or decentralization. Algorand nodes reach consensus about what should appear in the blockchain through this PPoS consensus based on a staking system (instead of a Proof of Work mining system like Bitcoin’s) to verify new transactions and produce new crypto tokens. The ALGO cryptocurrency is used to participate in transaction processing and network governance.
The Filecoin network is a decentralized peer-to-peer file storage network that is used to store and retrieve data. FIL is the currency of the Filecoin network. Think of it as traditional cloud storage but instead of having one provider, it is a network made up of many individual providers. Due to its distributed infrastructure, Filecoin is secure and more reliable than a traditional cloud storage solution. FIL tokens are used to pay for these services.