Altcoin Roundup: Three smart contract platforms that could see deeper adoption in 2022

Decentralized finance (DeFi) dominated media headlines all through 2021 and the sector, together with nonfungible tokens (NFTs), helped to provoke the mass adoption of cryptocurrencies.

Whereas excessive yields on staking and prompt earnings from flipping jpegs have confirmed to be very profitable for traders, it’s necessary to do not forget that none of it will have been attainable with out the underlying capabilities of sensible contract know-how. 

The Ethereum community stays, hands-down, essentially the most extensively used layer-one sensible contract platform within the crypto ecosystem, however everybody is aware of concerning the excessive price and clogged community problems with the previous few years.

In 2021, competing networks like Avalanche and Binance Good Chain enabled compatibility with the Ethereum Digital Machine (EVM) and this produced constructive outcomes for traders in each ecosystems.

Let’s check out a couple of of the top-performing layer-one protocols in This autumn 2021 and examine how partnerships, funding from conventional finance and protocol developments would possibly profit every venture in 2022.


Algorand (ALGO) is a pure proof-of-stake (PoS) layer-one blockchain community designed to be self-sustaining and extremely scalable, thus making it able to dealing with heavy transaction hundreds for minimal prices.

In This autumn, the protocol launched the Algorand Digital Machine which enabled decentralized purposes (DApps), which means DeFi and NFT tasks might now function on the community.

Tether (USDT) and USD Coin (USDC) had beforehand launched on the community, so their integration into new DeFi platforms was comparatively easy, permitting for the fast construct up of liquidity. The launch of the 150 million ALGO Viridis Fund by the Algorand Basis was additionally designed to speed up the event of the DeFi ecosystem on the community.

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The venture additionally attracted the eye of institutional traders, and a large money infusion got here from Borderless Capital who launched a $500 million fund to assist develop DApps on Algorand. Hivemind Capital Companions additionally chosen the protocol as its first know-how associate.

In October, Algorand launched governance options that enabled ALGO holders to have a say sooner or later growth of the protocol.

ALGO/USDT 1-day chart. Supply: TradingView

On Nov. 18, 21Shares introduced the launch of a physically-backed Algorand exchange-traded product which helped spark a rally within the value of ALGO to a yearly excessive at $2.99.


Tezos (XTZ) is a versatile proof-of-stake blockchain designed to evolve over time with out the necessity to endure arduous forks. In This autumn, conventional finance entities just like the Arab Financial institution Switzerland partnered with the protocol to launch staking, buying and selling and custody providers for the venture’s native XTZ token.

On Dec. 7, the venture made headlines after it expanded its NFT ecosystem by partnering with Ubisoft, a serious gaming firm. The Ubisoft Quartz platform makes use of Tezos blockchain, and the gamers of Ghost Recon: Breakpoint will have the ability to purchase and commerce game-specific NFTs within the market.

On Dec. 15, Rarible, a preferred NFT market, additionally introduced the mixing of the Tezos blockchain into its ecosystem. This implies Rarible customers should purchase, promote and commerce Tezos NFTs in an atmosphere that’s less expensive than Rarible’s Ether-based market.

A part of the rationale for the elevated consideration on the Tezos blockchain is the vitality effectivity of the community in a world that’s turning into more and more centered on environmental sustainability.

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In response to a current carbon footprint report from PricewaterhouseCoopers Advisory SAS, the Tezos community noticed a 70% improve in vitality effectivity in 2021, with its annual vitality consumption now estimated to be roughly the identical because the carbon footprint of simply 17 individuals.

XTZ/USDT 1-day chart. Supply: TradingView

On the time of writing, XTZ is buying and selling at a value of $4.34 after hitting a yearly excessive of $9.17 on Oct. 3. This was simply previous to the broader market downturn that has put strain on costs throughout the crypto ecosystem because the market heads into the ultimate weeks of 2021.

Associated: ‘I am an enormous believer in crypto know-how,’ says former US SEC chair


Elrond (EGLD) is a blockchain platform for distributed apps and enterprise-level companies that has the objective of turning into the know-how ecosystem for the “new web.”

In response to the venture’s web site, the community makes use of sharding know-how to allow the processing of 15,000 transactions per second (TPS) with a median transaction value of $0.001.

The late-year value rally seen within the protocol’s native EGLD token got here after the launch of a $1.29 billion liquidity incentive program by the Elrond-based Maiar decentralized alternate (DEX).

EGLD/USDT 1-day chart. Supply: TradingView

Previous to the launch of the liquidity program, the value of EGLD was on the rise due to its elevated use as a type of digital cost, together with a partnership with the Romanian music competition Untold, which introduced that tickets for its 2021 competition may very well be bought utilizing EGLD.

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Need extra details about buying and selling and investing in crypto markets?

  • Right here’s why Algorand’s value simply rallied to a brand new multi-year excessive
  • 3 the explanation why Tezos (XTZ) value broke its downtrend with a 50% rally
  • Swiss B2B financial institution InCore launches new tokenization software utilizing Tezos
  • Three the explanation why the value of Elrond (EGLD) is hitting new each day highs
  • Rarible integrates with Tezos blockchain and launches personal NFT assortment

The views and opinions expressed listed below are solely these of the creator and don’t essentially replicate the views of Each funding and buying and selling transfer entails danger, it is best to conduct your individual analysis when making a choice.

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