Gate.io Research: Research Report on the Ecosystem Development of Public Blockchains

Announcements Gate.io Research: Research Report on the Ecosystem Development of Public Blockchains

2021-07-28 10:08:25 UTC 54222 Read

Abstract: There are few projects on the public blockchain which can withstand the turbulence of the market. Since 2021, public blockchains have been progressing in terms of investment, financing and eco innovation. Therefore, this report will do the research on the token market, operation and status quo of public blockchains with the approach of focusing on the problems that exist in the eco, while providing suggestions for improvement.

Key points：

- In the last six months, many public blockchain projects have been active in the market in terms of investment and financing. The projects include Polkadot and Kusama’s Layer0 underlying cross-chain, Solana’s Layer1 technological innovation chain, Layer2/ Sidechain’s problem-solving technological chain, BSC and Heco’s exchange brand public blockchain, and ICP’s assumption public blockchain of next generation. There are various features in these five public blockchain projects.

- The token market for public blockchains shows a similar trend, where SOL, Matic and BNB have been developing at a stable rate, but their cognition of the ICP market needs improving. Solana produces and processes blocks at the highest speed; Polygon has the most daily trading volume and newly added users; GateChain TPS has the highest level with 2000. It is out in front of its competitors in the industry. The cross-chain public blockchain also has the highest rate of active users. The number of users have been accumulated recently after the launch of ICP.

- BSC has a rich variety of ecos. Polygon onboards a large number of mature ethereum projects, and also has numerous Polkadot native projects. Solana attracts a large number of projects with its high performance. Most ecos of public blockchains fall under the umbrella of Decentralized Finance. Polkadot’s fund supports many projects within their ecos, while ICP focuses more on the infrastructure.

- The public blockchain projects are dynamic. The first phase of Kusama's parachain slot auction has come to an end, which will give insight for future Polkadot slot auctions. There is an outburst of fund raising in Solana projects. With the help of well-known institutions, future projects are being funded to help build their ecos.

- There are many similarities between public blockchain projects as well as intense competition. With the booming token market, there are too many projects that are surplus to the demand of users, which has impeded the development of blockchains. To address this issue, projects in the market need to develop in different ways and reform the supply issues. DAO and public blockchain funds on the eco can offer support. When it comes to the more developed projects in the cryptocurrency space, the expansion and retention of user flow as well as the optimization of users’ experience is pivotal.

- The supply and demand side in the cryptocurrency market largely rely on the booming development of the token market. There is a mismatch between supply and demand of projects in the eco. The Purple Ocean Strategy focuses on the basic demand of users. When the value of projects has been fulfilled, users will support the public blockchain, and vice versa.

Disclaimer: Based on the due diligence and objective analysis by internal staff, the research draws a conclusion based on the observed market data. However, it should not be treated as the sole basis of any investment.

The report will be uploaded soon. Please stay tuned!

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Gate.io Team
July 28th, 2021

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