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The best Ethereum-based crypto projects now
The best Ethereum-based crypto projects now
Ethereum

The best Ethereum-based crypto projects now

By Amelia Tomasicchio - 16 Feb 2020

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In the fantastic crypto world there are always births and deaths of many futuristic projects, but what are now the best crypto projects?

In a few years, there will be no more talk of many tokens, whereas some platforms will be used daily by millions of people.

On this point, it is worth mentioning, among the many alternatives, some projects to look at with curiosity, some crypto assets – or better tokens – based on Ethereum that are interesting beyond speculation.

Ethereum – ETH  

Although it seems obvious, ETH represents a fundamental crypto in the blockchain world. Second for capitalization, it still remains a hot project for its unpredictable developments

With its price growing in the last few days, it represents a hotbed of innovation capable of attracting development, interest and capital.

  • The DeFi sector is the engine of adoption that could start a new wave of enthusiasm and success. The deflating power of the system should not be underestimated.
  • The arrival of ETH 2.0 equipped with Proof of Stake (PoS) will be greeted with fear and enthusiasm, if the work of the developers and the foundation does not fail, the transition could be of great impact.
  • Interoperability and a large development community combined with the standards, of which Ethereum has the authorship, are the great added value of this blockchain.

The usefulness of the ETH crypto:

  • Gas to activate contracts;
  • Store of value useful as collateral in the creation of stablecoins (see Dai);
  • Means of exchange;
  • With the arrival of the PoS, it becomes a passive profitability tool for securing the network thanks to staking.

eth chart

Kyber Network – KNC  

A liquidity protocol fully on-chain for the instant exchange of tokens and cryptocurrencies in a decentralized way without the need to pass through an exchange. 

 by providing a single endpoint for participants. 

The goal is to execute transactions between tokens using the best available rates quickly and efficiently. The design of Kyber allows any party to contribute to an aggregated pool of liquidity within each blockchain

Necessary and widely used in the DeFi world, Kyber is a candidate to be adopted as a tool able to activate interoperability between platforms in a fast way.

The utility of Kyber’s KNC token:

  • Economic benefits and fees paid in tokens;
  • KNC staking to ensure network integrity;
  • Governance protocol similar to that of a DAO

knc chart

Hubii Network – HBT

The Hubii project is much smaller and less known: it is a protocol for second-level scaling based on Ethereum. 

The goal of the Hubii team was to solve the problems related to the aggregation and monetization of online media content. First Telenor, then Alcatel and Panasonic collaborated to realize the dream of this small team. 

Their goal was to use the blockchain and for this reason, they approached Ethereum. 

The fundamental problem they encountered after a few steps was scalability, a requirement that changed the objectives and made Hubii Network a second level system useful to meet the needs of the commercial market in search of secure and verifiable transactions. The tech at the core of the network wants to bring millions of transactions to the Ethereum network by making the system efficient with off-chain solutions

A few months ago, Microsoft became interested in the project and integrated Nahmii in its Microsoft Azure DLT.

The project is complex but the HBT tokens native to the Hubii ecosystem born in 2017, allow to receive the NII airDrop: a second-generation token essential for the functioning of Nahimii. It was precisely Nahimii that caught Microsoft’s attention.

HBT chart

Aave (LEND)

The DeFi world is gaining ground and attention is now focused on Aave, a project we talked about in this previous article.

Born as ETHLend, the Aave protocol allows a constant lending stream with a variable interest rate depending on the amount of liquidity in the platform, Aave has designed a contract capable of handling all this in a decentralized way. Their a-token represent a very efficient system to manage on-chain lending.

The LEND tokens will be similar to those of MakerDAO, they will have a fundamental function in the decision-making process of the Aave platform. A DAO based on DAOstack technology will be at the highest technological level to manage in a decentralized way the financial dynamics of the project.

With the arrival of the pool factories on Aave, a new lending chapter will open in the DeFi world. LEND tokens will play a key role in this ecosystem.

The governance details still need to be disclosed, allowing to understand the opportunities reserved for token holders.

Aave chart

Status Network (SNT) 

Status Network presents itself as an instant messaging dApp, the big difference from its competitors is its obsession with the principles of Web3.0, namely privacy when communicating and transacting

The project is open source and able to guarantee a separation between the service producer and the user data.

Their token is the epicentre of a series of interesting services:

  • Incentive for the management of a node and participation in network security;
  • Governance of the DAO which allows voting without costs through the acknowledgement of a right to SNT holders;
  • Anti Spam filter to receive messages only from those who hold tokens in their wallets;
  • Payment of internal services through streamlined token economics.

SNT charts

Amelia Tomasicchio
Amelia Tomasicchio

As expert in digital marketing, Amelia began working in the fintech sector in 2014 after writing her thesis on Bitcoin technology. Previously author for Cointelegraph and CMO at Eido. She is now the co-founder and editor-in-chief of The Cryptonomist.

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