Cosmos & Other Top Crypto Projects That Will Change The Space According To Bankless.
Many investors are looking forward to the future of the crypto space. With many of the world’s biggest economy going through inflation, many people are looking at crypto as the safe haven for investing in the future.
Crypto and finance media, Bankless release their newsletter on what crypto projects to look out for in the future. Even though we are in the middle of a bear market, they believe that the future is still promising for the crypto space.
Cosmos Ecosystem To Look Out For In Crypto Space
In the newsletter, they predict that the Layer-2 Ethereum is going to grow in the coming months and will have a huge impact in the future.
“While at present there is scant demand for blockspace, the increased transaction capacity provided by these networks has already begun to unlock new use cases and will pay long-term dividends during the next bull market by allowing more users to be onboarded into the on-chain economy.”
“Arbiturm and Optimism are far and away the two largest L2s, with the optimistic rollups combining for a 96.6% share over all DeFi TVL on L2s.”
One specific project that Bankless really looking forward to is Cosmos (ATOM). Cosmos enables developers to create highly customizable, application-specific blockchains that can leverage interoperability via inter-blockchain communication (IBC).
One upgrade that is huge for Cosmos is the Interchain Security. Interchain security, which is scheduled to debut in January 2023, will allow Cosmos chains to rely on the Cosmos Hub, the network with the highest value staked, for their security, eliminating the need for them to bootstrap their own validator set, a labor-intensive, pricey, and security-risky process.
Others: DeFi, WEB3 Social & GameFi
One sector that is growing in the industry is Decentralised Finance (DeFi). By the end of the year or the start of the following year, DeFi for NFTs and options protocols are expected to take off.
One sector that Bankless sees to be gaining momentum are options protocols. Benefiting from the increased capacity provided by L2s, protocols like Dopex, Lyra, and Premia seem set to grow in the near future.
Web3 socials and GameFi are the last two sector that Bankless is keeping a look out for. Web3 social networks will expand, according to Bankless, since they can withstand restrictions.
In the upcoming months, gm.xyz, Lens, and DeSo [decentralized social], a layer-1 created expressly to support blockchain-based social applications, are some protocols and applications to keep an eye on.
According to Bankless, the popularity of play-to-earn games like Axie Infinity, STEPN, and Sweatcoin suggests that the GameFi industry might act as a platform to promote the mainstream acceptance of NFTs.