Truth be told, 2019 was entirely a smooth for a league of blockchain projects. The 365 days were filled with ups and downs, from the collapse of many projects to the start of new ones, While the hands of thousands of investors were burned in the apocalyptic endings, more opportunities emerged for people to put their money into. After all said and done, it is a fact that the blockchain industry moves at breakneck speed. It is as such that one substantial development is enough to pull a reverse course on the market and reset the expectations of investors. With that in mind, here are 5 notable projects you should keep tabs with this year.
This little-known blockchain project was created to make Big Date a lot more manageable and accessible to people in the space. Constellation makes this possible by using a highly scalable data structure called a Directed Acyclic Graph (DAG). This is the same technology that formed the basis of IOTA’s tangle chain.
Big Data is not just itself; it also means big business. As this becomes clearer, the largest corporations are pouring serious money to extract valuable information from data sets in order to process efficiently. Nonetheless, the advent of the twin technologies known as machine learning and artificial intelligence has made combing through this data cheaper and more efficient daily.
With features like scalable interoperability, notarization and validation of Big Data, Constellation has all it takes to become the first and perhaps foremost platform to enable individuals and any-size businesses get to grips with their data.
If you followed blockchain in 2019 properly, you must have caught something called Tezos. It is a self-evolving blockchain designed to play host to scalable Dapps while being under the governance of stakeholders. Last year alone, the project introduced a trio of new programming languages for smart contracts. It also registered over 400 delegated implemented a host of protocol updates and hit the hammer on prominent collaborations with big firms such as Brazil’s largest investment bank.
With these milestones among many others, the crypto asset went up the ladder and cinched the position of the tenth largest digital coin. However, its mainnet has only been operating since June of 2018, an indication that the platform is still taking those baby steps. Due to this, Tezo has only a few Dapps operating on the blockchain.
Regardless, one of the reasons Tezos is likely to continue its effervescent growth in 2020 due to the success of the Tezos Foundations; developer training initiative. As far as we know, the project used this medium to provide grants to train over 1,000 new Tezos developers in 2019.
Heralded as the new global form of money, Nano is a crypto that share the same vision with any other digital coin in the market, which is replacing fiat. What is different about it is that the project seeks to revolutionize blockchain technology on the whole by delivering zero-fee transactions in real time. While making this happen, Nano does not consume the amount of energy and demand the work-intensive overhead very much associated with Bitcoin inter alia.
Even though it follows in Bitcoin’s footsteps, Nano wants to beat in front much later. Its plan is to address vital problems posed by the Bitcoin network. That includes scalability problems which has raised concerns among users regarding the increment of transaction fees on the network.
Nano is also addressing computational issues which have to do with the latency of transaction times, which now stand at a 164-minute average. Mind you, the amount of energy consumed when Bitcoin is mined is lifting the roof, demanding more electricity that 159 countries of the world combined. NANO uses a Directed Acyclic Graph (DAG) block-lattice architecture, where every individual is assigned his blockchain.
Ocean Protocol, billed as a decentralized data exchange protocol, is created to enable data providers and consumers share information in a secure way. The project is also helping in the democratization of access to important data which only deep-pocket tech companies can currently afford to dig into. Ocean Protocol rose to prominence in 2019 because it had an aggressive development and expansion strategy in the works.
In a matter of 12 months, the team behind the tech-driven solution plan to launch no less than 2 new versions of the protocol. The first is called V2 while the other is named V3. The former is currently being scheduled for launch early this year, bringing AWS and Azure integration, case-specific marketplaces, competition and bounty rewards for service execution agreements.
On the other hand, V3 would be unveiled in the latter half of 2020, building on its predecessor;s functionality by adding web 3.0 integration and cross-interaction features with other decentralized projects. It will also introduce cryptographic proofs for verification of service conditions. Being able to monetize data and decentralize AI workflows makes Ocean Protocol a prominent step forward in the world of business.
One of the earliest enterprise-grade smart contract platforms to ever exist, Factom has been strutting its stuff since 2014. But it seems to have not been able to gain the momentum needed, despite being one of the first smart-contract capable blockchain projects. This is probably because Ethereum initially became the favored platform for smart-contract and Dapp developers.
In November of 2019, Factom landed a $200,000 grant from the U.S Department of Homeland Security to help in the war against import fraud and the verification of importers’ digital identities. This coupled with another reward from the DHS Silicon Valley Innovation Program proves Factom to be a sleeping giant that has just started to do morning stretches.
In the same way, the Bill and Melinda Gates Foundation also provided the project a half a million-dollar grant in 2016 to fund the development of a prototype digitized medical record system for those living in remote regions. With all these under its belt, 2020 could be the year Factom finally lets out a roar.
2020 is going to be an interesting year for Bitcoin and blockchain technology. How you see it depends on which space you keep a keen eye on.