This is the part 3 summary notes of some blockchain protocols – based on the top protocols ranked in CoinMarketCap.com. It is a systematic walkthrough of the popular protocols. The ranking and capital data is on 04/22/2022.
1 FTX Exchange
FTX Exchange (FTT) has a market cap of $5.68B, ranked 27th.
FTX was developed by Alameda Research. FTX.US is for US customers. FTX Exchane is a centralized cryptocurrency exchange specializing in deravatives and leveraged products. FTX offers a range of trading products, including derivatives, options, volatility products, and leveraged tokens. It also provides spot markets in over 100 cryptocurrency trading pairs such as BTC/USDT, ETH/USDT, XRP/USDT, and its native token FTT/USDT
2 UNUS SED LEO
UNUS SED LEO (LEO) has a market cap of $5.57B, ranked 28th.
UNUS SED LEO is a utility token that’s used across the iFinex ecosystem. The cryptocurrency allows Bitfinex users to save money on trading fees. LEO tokens were issued on two blockchains. While 64% of the original supply was on Ethereum, the remaining 36% could be found on EOS.
Tether is also controlled by Bitfinex (owned by Ifinex). There are several legal cases agaist the iFinex.
Algorand (ALGO) has a market cap of $4.88B, ranked 29th.
Algorand is a self-sustaining, decentralized, pure POS, blockchain-based network that supports a wide range of secure, scalable and efficient applications. The core development of the Algorand protocol is overseen by Algorand Inc, a private corporation in Boston. Algorand contracts are written in TEAL, which is an assembly-like language that is interpreted by the Algorand Virtual Machine (AVM) running within an Algorand node.
Stellar (XLM) has a market cap of $4.87B, ranked 30th.
Stellar is an open network that allows money to be moved and stored. When it was released in July 2014, one of its goals was boosting financial inclusion by reaching the world’s unbanked — but soon afterwards, its priorities shifted to helping financial firms connect with one another through blockchain technology. Stellar was originally based on the Ripple Labs protocol. The blockchain was created as a result of hard fork, and the code was subsequently rewritten. Stellar can give people a way of moving their fiat into crypto — and eliminate the friction that people normally experience when they are sending money around the world.
Stellar is unique because 1) every transaction costs just 0.00001 XLM. Given how one unit of this cryptocurrency only costs a few cents at the time of writing, this helps ensure that users keep more of their money. 2) Few blockchain projects have managed to secure partnerships with big-brand technology companies and fintech firms. A few years ago, Stellar and IBM teamed up to launch World Wire, a project that allowed large financial institutions to submit transactions to the Stellar network and transact using bridge assets such as stablecoins. 3) Stellar allows its users to vote on which ventures should be given this support.
Monero (XMR) has a market cap of $4.83B, ranked 31st.
Monero was launched in 2014, and its goal is simple: to allow transactions to take place quickly, inexpensively, privately and with anonymity. XMR is designed to obscure senders and recipients alike through the use of advanced cryptography. Seven developers were initially involved in creating Monero — five of whom decided to remain anonymous.
From Github Monero:
Monero is a private, secure, untraceable, decentralised digital currency. You are your bank, you control your funds, and nobody can trace your transfers unless you allow them to do so.
ApeCoin (APE) has a market cap of $4.25B, ranked 33rd. The 32nd is Ethereum Classic.
ApeCoin is an ERC-20 governance and utility token used within the APE Ecosystem to empower and incentivize a decentralized community building at the forefront of web3.
ApeCoin holders govern themselves via the decentralized governance framework controlling the ApeCoin DAO, and vote on how the ApeCoin DAO Ecosystem Fund should be used. The APE Foundation administers proposals agreed upon by ApeCoin holders.
Decentraland (MANA) has a market cap of $3.78B, ranked 34th.
Decentraland defines itself as a virtual reality platform powered by the Ethereum blockchain that allows users to create, experience, and monetize content and applications.