This is the part 5 summary notes of some blockchain protocols – based on the top protocols ranked in It is a systematic walkthrough of the popular protocols. The ranking and capital data is on 04/23/2022.

1 THORChain

THORChain (RUNE) has a market cap of $2.77B, ranked 44th.

THORCHain is a decentralized liquidity protocol that allows users to easily exchange cryptocurrency assets across a range of networks without losing full custody of their assets in the process. The platform has no CEO, no founder and no directors. Instead, the further development of the platform is organized through Gitlab.

THORChain uses a unique system to help mitigate the issue of “impermanent losses” — or the often temporary losses that a liquidity provider can experience when contributing to liquidity pools. It achieves this by using a slip-based fee to help ensure liquidity stays where it is needed.

On top of this, THORChain combines a range of novel technologies, including on-way state pegs, a state machine, the Bifröst Signer Module and a TSS protocol to seamlessly facilitate cross-chain token swaps. This is all kept behind the scenes, making the platform accessible to even inexperienced traders.

2 PancakeSwap

PancakeSwap (CAKE) has a market cap of $2.71B, ranked 45th.

PancakeSwap is an automated market maker (AMM) — a decentralized finance (DeFi) application that allows users to exchange tokens, providing liquidity via farming and earning fees in return. It launched in September 2020 and is a decentralized exchange for swapping BEP20 tokens on Binance Smart Chain.

3 Tezos

Tezos (XTZ) has a market cap of $2.70B, ranked 46th.

Tezos is an open-source proof-of-stake (PoS) blockchain network that offers peer-to-peer (P2P) transactions via its native XTZ cryptocurrency (called a Tezzie) through its decentralized platform by deploying smart contracts.

The Tezos blockchain (XTZ) solves the protocol development problem by functioning as a self-amending blockchain network, which has made it one of the most promising projects in the space today.

Tezos supports 40 TPS and 1 minute per block.

4 Klaytn

Klaytn (KLAY) has a market cap of $2.58B, ranked 47th.

Klaytn is a public blockchain focused on the metaverse, gamefi, and the creator economy. Officially launched in June 2019, it is the dominant blockchain platform in South Korea and is now undergoing global business expansion from its international base in Singapore.

To simplify building for the metaverse, Klaytn offers an end-to-end metaverse package that includes customized L2 solutions, SDKs and smart contract libraries, IPFS solutions, wallets, chain explorers, oracles and bridges, as well as an ecosystem of supporting services such as stablecoin integration, NFT marketplaces, tradfi interfaces, and more.

5 Aave

Aave (AAVE) has a market cap of $2.41B, ranked 48th.

Aave, built on Ethereum, is a decentralized finance protocol that allows people to lend and borrow crypto. Lenders earn interest by depositing digital assets into specially created liquidity pools. Borrowers can then use their crypto as collateral to take out a flash loan using this liquidity.


EOS (EOS) has a market cap of $2.40B, ranked 49th.

EOS is a platform that’s designed to allow developers to build decentralized apps.

7 ZCash

ZCash (ZEC) has a market cap of $2.22B, ranked 50th.

Zcash is a decentralized cryptocurrency focused on privacy and anonymity. It uses the zk-SNARK zero-knowledge proof technology that allows nodes on the network to verify transactions without revealing any sensitive information about those transactions. ZEC transactions by default do not reveal the sending and receiving addresses or the amount being sent. There is an option, however, to reveal this data for the purposes of auditing or regulatory compliance. Zcash was first released on October 28, 2016, and it was originally based on Bitcoin’s codebase.

8 Helium

Helium (HNT) has a market cap of $2.08B, ranked 51st.

Helium (HNT) is a decentralized blockchain-powered network for Internet of Things (IoT) devices. Nodes come in the form of so-called Hotspots, which are a combination of a wireless gateway and a blockchain mining device. Users who operate nodes thus mine and earn rewards in Helium’s native cryptocurrency token, HNT.

9 Flow

Flow (FLOW) has a market cap of $2.04B, ranked 52nd.

Flow is a fast, decentralized, and developer-friendly blockchain, designed as the foundation for a new generation of games, apps, and the digital assets that power them. Flow is the only layer-one blockchain originally created by DapperLabs that has consistently delivered great consumer blockchain experiences: CryptoKitties, Dapper Wallet, NBA Top Shot.

10 Waves

Waves (WAVES) has a market cap of $2.03B, ranked 53rd.

Waves is a multi-purpose blockchain platform which supports various use cases including decentralized applications (DApps) and smart contracts.