What are the opportunities in the ecology for Polkadot, the fifth largest in market value?

Content

In 2020, with the gradual launch of Polkadot's mainnet, the first upgrade of the parachain testnet Rococo, and the opening of DOT transfers, Polkadot's ecology has begun to enter an explosive period. However, as the ecology has become hotter, the scam of the "Poka" ecological project has also surfaced.

Many users are still confused about what Polkadot ecological projects are and the development of these projects. On the evening of August 25th, Mr. Lu Yaoyuan, the product manager of Math Wallet, commented on the development of the current Polkadot ecological project. After obtaining his consent, BlockBeats now compiles some of his views on the Polkadot ecological project and publishes it as follows.

Rhythm BlockBeats organized and compiled without affecting the original intention.

For how to distinguish the authenticity of the Polkadot ecological project, you can check the article "Guidelines for Identifying the True and False Polkadot Ecological Project" of the Polkadot Chinese Community.

In summary, for the Polkadot official support plan (Web3 Foundation Grant funding project), the Polkadot ecological public chain must be developed based on Substrate; if it is not included in the official website, then it is difficult to say that it is a Polkadot ecological project (but Official inclusion may be delayed)

The Polkadot ecological project that received the Web3 Foundation Grant, some projects did not issue coins). The Web3 Foundation Grant program started in December 2018. The purpose is to help the management and support team build decentralized technologies for the future of Web3.0. In May 2020, the Web3 Foundation Grant program has funded 100 projects, 83 teams, and 24 new chains. (Rhythm BlockBeats Note: The Web3 Foundation is the development company of the Polkadot blockchain project.)

There are many projects funded by the Web3 Foundation Grant, but few of them have issued tokens. Therefore, users also need to investigate carefully.

Polkadot's ecological public chain must be developed based on Substrate. Web3.0 Bootcamp and Parity see these cooperations being selected, and it can be regarded as a Polkadot ecological project with a high probability.

You can also get fresh Polkadot news by following the official information subscription: https://www.crowdcast.io/polkadot; another query website http://www.polkaproject.com. If there are no projects included here, it is hard to say that it is a Polkadot ecological project.

Basic tool-wallet

MathWallet (http://MathWallet.org) is one of the wallets that supports the Polkadot ecological public chain the most, including APP and plug-in wallets.

Another wallet, PolkadotJS, although not official, has almost become a necessary web wallet.

Basic tool-browser

There are also many kinds of browser choices. However, the Subscan browser is usually sufficient.

Overview of Polkadot Ecological Project

In addition to the Polkadot mainnet, the currently well-known projects including Kusama, Edgeware, Acala, Darwinia, Stafi, Phala, Bifrost, Plasm, Kulupu, Centrifuge, Westend and ChainX also belong to the Polkadot ecosystem.

Kusama, Polkadot’s early experimental network, has now developed into an independent public chain. Its token KSM has risen 170% in the past week. Polkadot is the first network, so the market is too enthusiastic, and it may be risky to catch up.

Edgeware, the Polkadot smart contract chain, locks ETH to get its token EDG airdrop for free. However, the team has not updated the dynamics and project progress for almost a long time, and it is understood that it has recently claimed to be upgraded. Its tokens have risen by 17% in a week.

Acala Network, Polkadot's chief Defi, is no less than Ethereum's MakerDAO. The valuation is huge, and he is a member of the Polkadot board of directors, the orthodox Polkadot Defi project. Rhythm Note: The token ACA has not yet been launched on the trading platform.

Darwinia Network (Darwin), a veteran project, used to be an evolutionary planet, and is now a Polkadot heterogeneous cross-chain bridge protocol. The team has many years of experience and developed Subscan, which occupies the traffic portal of Polkadot browser, which is equivalent to the status of Ethereum browser. Rhythm Note: Darwin has two tokens, RING and KTON. KTON is essentially a derivative token of RING, which encourages long-term locking and delegation. Participants of the RING equity pledge can obtain KTON as a reward by locking the RING for 3-36 months to make up for the loss of liquidity.

Stafi Protocol, the predecessor of the team is Wetez wallet. The solution to release the liquidity of staking supports multiple public chains. The Stafi Protocol concept is larger than the pure Polkadot project. Rhythm BlockBeats Note: The project has launched a token FIS distribution plan on August 25, and is scheduled to be launched on the trading platform in September.

Phala Network, a privacy computing parachain on Polkadot. The field is slightly niche, it is difficult to obtain the bargaining chip, and the project party has sufficient technical level. It is recommended to keep paying attention.

Rhythm Note: Phala Network is based on a PoW-like economic incentive model. It releases countless CPUs of private computing power for the Polkadot parachain, and then serves other applications such as Defi and data services on Polkadot. Phala Network token PHA, the total amount is 1 billion. Token distribution will be completed after the launch of the Phala Network mainnet. Before the launch of the mainnet, 1% of the PHA will be distributed through testnet tokens.

Bifrost, DeFi for PoS tokens. Providing staking services, similar to Stafi, these concepts are mainly based on the market share and the quality of the partners, which is a good Polkadot project.

Plasm Network, Polkadot's layer2 solution, a project of the Polkadot community in Japan. The team is small, and there are also lock-up and airdrop mechanisms, but the community foundation is poor, or smart contracts are being prepared.

Kulupu, launched in September 2019, is a POW public chain based on Substrate that uses the Monero mining algorithm RandomX. The community is mainly promoted by Parity members and developed by engineer Wei tang. At present, the only POW public chain in Polkadot ecology has 28.5 million in circulation, and currently each block is rewarded with 60 KLP.

Centrifuge, a decentralized global financial supply chain exchange platform, the team bridges Ethereum and Polkadot through a cross-chain. The name of the token is RAD, and it seems that the method of obtaining the token has not yet been announced. The partners are Makerdao, Celo, Circle, and the projects are relatively high-quality. Assets under the main chain enter Defi, and there are also some concepts of NFT, and tokens have governance rights.