Polkadot has grown significantly in 2021 to become the main outstanding Tier 1 blockchain. Interoperable blockchain and the brainchild of Ethereum co-founder Gavin Wood flipped Ripple’s XRP to rank the fourth-largest cryptocurrency by market capitalization.
Cardano is also substantiating its value as an L1 blockchain through betting and discussions with creator Charles Hoskinson about the implementation of DeFi in Africa after fully integrating smart contract functionality. These developments have helped propel the 100% rise in the ADA price since the beginning of 2020, making it the sixth-largest, unseating Bitcoin Cash.
The Decred Token (DCR) mirrors Bitcoin with a maximum supply of 21 million tokens, the network combines PoW with PoS to allow all community members to participate and receive rewards.
The built-in governance mechanism gives token holders a direct vote in the future of the project, and the release of the Decred Decentralized Exchange (DCRDEX) on October 21, 2020, triggered a rise in the DCR price from $11.68 to a new high of $67.80 on January 8th.
DeFi Returns from Dec 2020-Jan 2021. Courtesy: Coin Metrics
83% of Crypto Assets That Hit Record Highs in January 2018 Are Still Down by 90%
Image Credit: Coin Metrics, Shutterstock