Blockchain technology serves as the backbone of the crypto world, providing the underlying infrastructure on which cryptocurrencies function. Various types of blockchain networks exist, each designed for specific use cases, from financial transactions to supply chain management and beyond.
Additionally, a growing number of blockchain startups are driving innovation in the space, offering solutions to real-world problems.
Here are some notable blockchain startups making an impact:
Founded in 2014, Chainalysis is a blockchain analytics firm and the first startup dedicated to Bitcoin tracing. It provides cryptocurrency data and analysis to government, authorities, financial institutions, and corporations. Additionally, the company regularly publishes research and reports, highlighting trends in crypto-related crime and associated risks.
Ava Labs is the company behind Avalanche, a blockchain network designed for hosting decentralized applications (dApps). Known for its speed and scalability, Avalanche has become a preferred platform for developers. Over the past years, hundreds of decentralized applications have launched on the network, which can process up to 4,500 transactions per second—far surpassing Ethereum’s capacity of just 14 transactions per second.
Founded in 2017, Chainlink is a blockchain network that facilitates interoperability between different blockchains, enabling them to exchange data seamlessly. In simple words, it acts as a bridge that allows different blockchain networks to communicate and share data with each other. It’s similar to sharing data between an Android phone and Apple’s iOS.
Chainlink’s native token, LINK, is used to pay for services such as retrieving and processing off-chain data.
Sui is a blockchain network designed for high transaction speeds and efficient smart contract deployment. With a focus on instant transaction finality, it is particularly well-suited for the financial sector. Developed by Mysten Labs, Sui’s team includes former Meta engineers with deep expertise in blockchain technology.
Bitcoin operates on the Bitcoin blockchain, Ether runs on the Ethereum blockchain, and Cardano is built on the Cardano network. These blockchains function independently and cannot share data with one another due to a lack of interoperability.
Polkadot, a decentralized blockchain network, solves this issue by enabling different blockchains to communicate and interact. Designed for scalability, security, and flexibility, it also supports the development of decentralized applications.
The network’s native cryptocurrency, DOT, grants holders governance rights over the Polkadot protocol through voting.
What if you could get paid for working out? STEPN, a popular lifestyle app, lets you earn cryptocurrency just by walking. Built on the Solana blockchain, this “move-to-earn” project rewards users with GMT tokens when they walk or run outdoors while wearing NFT sneakers. These tokens can be used for in-app upgrades, purchasing digital items, staking, or voting on platform changes.
Ripple is a blockchain-based payment network designed to facilitate cross-border transactions for businesses. It operates on the XRP Ledger, an open-source blockchain, with XRP as its native token—one of the top ten cryptocurrencies by market capitalization. As a pioneer in its field, Ripple has set the stage for blockchain-powered financial solutions.
Following the success of Bitcoin and Ether exchange-traded funds (ETFs), several asset management firms have also applied to launch XRP ETFs.
You’ve probably heard of crypto exchanges like Coinbase or Kraken, where investors buy and sell cryptocurrencies. These platforms are run by registered companies and managed by teams.
However, since blockchain’s core philosophy revolves around decentralization and the distribution of power, a question arises: why not decentralize crypto exchanges, too?
Launched in 2018, Uniswap is the first decentralized cryptocurrency exchange, allowing users to deposit tokens into liquidity pools. Instead of traditional order books, Uniswap relies on algorithms to determine market prices based on supply and demand within these pools.
Uniswap also has its own cryptocurrency, UNI, which gives holders governance rights, allowing them to vote on key platform decisions.
Ethereum is home to thousands of decentralized applications. Due to its high demand, the Ethereum blockchain network sometimes becomes slow. To cope with this issue, the Polygon blockchain network was built on the Ethereum blockchain to enhance and scale Ethereum-based decentralized applications. It runs parallel to the main Ethereum blockchain. It acts as a guard to the Ethereum blockchain network and improves its scalability and speed.
Polygon has its own native token, POL, that gives holders governance rights.
Initially launched as a crowdsourced AI platform, later NEAR Protocol expanded into the blockchain world. It is designed to incentivize a network of computers to support a platform where developers can build and launch decentralized applications (dApps). Its native token, NEAR, is the largest AI token by market cap, valued at $5.2 billion.
