What are the top five projects born in 2020 in the crypto industry with revolutionary potential?
Polkadot, leading the top 5 2020 crypto projects
Probably the one with the most potential is Polkadot (DOT), so much so that despite having only debuted on crypto markets in mid-August, it has already placed itself in the top 10 of the largest cryptocurrencies by market capitalization, ahead of „historical“ names such as Cardano, Stellar, Monero or EOS.
The fact is that the ambitions of this project are really very high.
First of all, Polkadot is basically proposed as a basic infrastructure, in some ways competitive with Ethereum, but with much broader functionality.
It even hypothesizes to create a new Web 3.0 based on blockchain, making possible the communication of different models in a single structure.
To give strength to this project is, in particular, the reputation of Gavin Wood, already co-founder of Ethereum, and head of the Polkadot project. Among other things, Wood has created the Solidity language, and is the author of the Ethereum Virtual Machine specifications.
Expectations on this project are probably as high as his ambitions, and is therefore probably the most potentially revolutionary crypto project born in 2020.
Diem, don’t call it cryptocurrency
Another project that could have truly revolutionary implications is Diem.
It’s actually not a cryptocurrency, but a stablecoin, and it wasn’t born in 2020. In fact, it was born last year, in mid-2019, but then it was called Libra, and it was different. In 2020 it changed not only the name, but also the specifications, and became Diem.
The fact is that behind Diem is Facebook, which is the largest social network in the world, and one of the strongest and richest tech companies on the planet.
Although it is not a cryptocurrency, it is still a currency based on a distributed ledger (i.e. DLT).
Diem will debut on the markets in 2021, and it seems destined to be very popular. Already when its predecessor, Libra, was announced in mid-2019, it triggered a real speculative mini-bubble on the crypto market, clearly indicating how even though this is not a cryptocurrency, it could have a significant impact on the crypto world.
Space for DeFi: Aave
A third potentially revolutionary crypto project born in 2020 is Aave.
This is not only one of the DeFi projects with the most potential, but also one that is already making a strong statement in the crypto industry.
Although this protocol was only launched in January, it has already become the third DeFi protocol ever for TVL, behind only the giants Maker and Compound, but for example ahead of Uniswap and Synthetix.
Aave wants to bring on blockchain, and on its decentralized platform, many tools, services and products of traditional finance, as if to build a parallel financial world without intermediaries.
Certainly among these projects it is the one in the most advanced stage.
The yield farming of yearn.finance
A fourth project that deserves to be mentioned is yearn.finance. Its revolutionary scope is far less than the previous three, but within the DeFi environment it has had the merit of launching yield farming.
It also stood out for a truly extraordinary performance of its token price. YFI debuted on the crypto markets on July 18 at a price of $790, and by September 1 it had already reached the stratospheric figure of over $35,000. Now, despite many ups and downs, it hovers around $22,000, which is still much more than the initial price.
Its revolutionary scope lies in the automatic management of capital allocations in the DeFi sector, opening a new front of development within this already revolutionary sector.
The youngest: The Graph
Finally, there is a fifth project that was born very recently and is already making a lot of talk: The Graph.
Its GRT token made its debut on the crypto markets on December 17th at $0.13, and immediately jumped to $0.75, only to fall back below $0.5.
As with yearn.finance, this is a project with revolutionary potential within the crypto industry, and as with Polkadot it has to do with the so-called Web 3.0, or blockchain-based web.
It’s still extremely early to try to understand what are its real potentialities, beyond the theoretical ones, but it’s already making a lot of talk about itself despite it’s really just born.