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Blockchain technology is advancing at full speed. Just 5 years ago, there were only Bitcoin and Ethereum networks. Today, dozens of blockchains, a more advanced version of the previous one, enter our lives. I am sure that there are projects that are all valuable and solve many problems. There is always a wind in the cryptocurrency markets. In 2020, Ethereum-based cryptocurrencies experienced a great rise with the craze. It continued with the NFT craze in 2021. Due to the high transaction fees of the Ethereum network, searches for other networks began. Meanwhile, the Solana network stood out for its speed, scalability and low transaction fees. Terra LunaAvalanche followed.
Parachain proving to be a successful platform when we enter 2022, I think Polkadot will be a candidate to be the star of this year.
First of all, what is Parachain in a nutshell… ? Let's examine this…
Parachain is connected to the security provided by the Relay Chain, Polkadot's central chain, which coordinates the entire system. However, calculations in parachain structures occur automatically. Parachain can have different applications and features. They can operate openly or covertly with their own functions, tokens and governance.
Parachain works in parallel in the ecosystem it is in, and all kinds of data can be sent thanks to the cross-chain compatibility of the Polkadot network. Parachain systems can be connected to Bitcoin (BTC), Ethereum (ETH) and other external blockchain networks through network bridges.
Thanks to Parachain Crowdloans, 2 year locked Polkadot (DOT) is increasing day by day. This will play an important role in DOT pricing.
Now that we understand parachain briefly, I would like to tell you about two important projects in Parachain Crowdloans. Moonbeam Network(GLMR)Astar Network (ASTR)
Moonbeam (GLMR)EVM (Ethereum Virtual Machin) compatible and substrate-based blockchain running on the Polkadot parachain. Holders of the token are the service and management token of the network, users can participate in governance, pay transaction fees, earn rewards by providing liquidity, or stake.
Moonbeam Network simplifies the developer experience by combining full compatibility, including scalability, cross-chain integrations, and on-chain governance, with the power of Polkadot
This important project emerged as the first project from the paracahain Croedloans event. As soon as it was released, Binance, Gate.io, KuCoin, Mexc Global, Kraken, OKX were listed on the major exchanges. The news of listing on the exchange may come soon…
Our second project, which we will talk about in our article, is Astar Network (ASTR)
Astar Network is a scalable and interoperable infrastructure for Web3.0. As Astar Network is built with Parity's Substrate framework, it could be a future Polkadot parachain that also functions as a scalable smart contract platform. By design, Polkadot Relaychain does not support smart contracts. This gives Primer an opportunity to fill this gap. Scalability is obviously one of the most important demands that dApp developers have. Ideally, developers can build any app on the Liner Network without having to think about its scalability. I think especially DeFi projects will focus on Astar Network…
Astar Network is a gateway to the multi-chain future. It connects multiple layer1 blockchains to Polkadot via the Primer Network.
This important project emerged as the third project from the paracahain Croedloans event. As soon as it was released, Huobi, Gate.io, KuCoin, Kraken, OKX, which were on major exchanges, were listed. There may be news of listing on BINANCE and COINBASE exchange soon … Must follow.
My final words; My friends, you should follow the Polkadot network closely. You can earn good profits by investing in projects, especially in Parachain Crowdloans events. I also invested in these two projects. As the projects evolve and the Poldakot ecosystem evolves, there is high potential for profits from both sides.
Please share your thoughts with me. Knowledge becomes valuable as it is shared…
