Over the past decade, there has been a meteoric rise in the real-world use cases of blockchain technology. The rising popularity of Bitcoin as a store of value, coupled with rapid growth in smart contract platforms, has set the tone for a digital future. Several reputable blockchain ecosystems have piqued the interest of crypto experts, with Ethereum and Gnox set to take the lead in 2022.
Ethereum (ETH)
Undeniably the biggest and the most popular blockchain ecosystem, Ethereum captures a huge market share of decentralized applications. Despite scalability issues, the project has stood the test of time as we await the launch of the highly acclaimed Ethereum 2.0 upgrade in 2022. This will be a historical transition of Ethereum from a Proof-of-Work consensus to a Proof-of-stake mechanism.
Vitalik has hinted at the possible Merge rollout by the third quarter, which will implement sharding and reduce high transaction fees charged on the Ethereum network. The growing popularity of NFTs, DeFi, and stablecoins has triggered the exponential rise in the implementation of smart contracts. Despite tough competition from other L1 chains like Polygon and Solana, Ethereum remains a platform of choice for developers. The much-anticipated upgrade will likely cause another spur in new projects deployed on Ethereum.
Gnox (GNOX)
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Gnox is a community-focused reflection project that derives value from its ecosystem, only to give it back as an incentive to the users. While DeFi can be great for generating passive income through various yield farming options, there are not many protocols that guarantee safe returns to investors. Gnox is on a mission to bridge this gap by providing “Yield farming as a service”.
For those uninitiated, yield farming is a strategy where you lock up your assets to provide liquidity, lending, or staking in exchange for rewards. Gnox does that for you by investing funds from its treasury and sharing the returns among the community of GNOX token holders.
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The team also has plans to launch an aggregator pool, which will be an important part of the Gnoxian ecosystem. It will provide transparent details regarding the current treasury balance and the corresponding allocation to various DeFi protocols. Several exciting developments are in the pipeline as the project is set to launch in August after the conclusion of the presale.
