Polkadot Parachains that have gained public charm

~dwulf

DOT

Most of the parachains (at least on Polkadot) are around 8 months old. That’s still very early in the lifecycle of a blockchain. Not to mention there are still some improvements coming on the Parity side, like async backing (which reduces blocktimes to 6s), Governance v2, Kusama<>Polkadot bridge, native USDT/USDC, native bridges, and others.

The Polkadot.js wallet is still very meh, but a good stand by the new wallets are starting to feel really good, especially Talisman.

Moonbeam was on a really great path to reaching broad adoption in terms of TVL/other metrics until the Nomad situation hit. Now they are rebuilding.

Acala, my personal favorite that I supported during the crowd loan, was in a similar situation until their aUSD incident. Acala is also rebuilding, traces are complete, now it is going into vote.

NODL

Nodle now has its coin/token on several exchanges, the mining app works well to provide proof of location to Bluetooth Low Energy sensors in the proximity.

Other than BitCountry, most of the other parachains haven’t launched yet.

It’s a long game and few of the parachains will reach a broader market, even if the market conditions aren’t great. That should then flow on to other parachains seeing growth.

“public charm”, What Polkadot Got

There are some solid parachain teams that are growing and making steady progress towards their roadmap:

Astar to become a DAO
Bifrost to expand its bond markets to Dot-based derivatives
Phala to launch Phalaworld as the POC for their Private cloud services
Moonbeam to refine multichain operations with Connected smart contracts
Litenty to deliver an Identity hub for Twitter/Discord/social media/on-chain verifications.
IntegriTEE to offer TEE services through Litentry’s DID infrastructure.
Darwinia to launch the Light Client Message Passing protocol for its Bridge hub.
BitCountry and its NFTs.

Conclusion

Outside of Bitcoin, Ethereum and Dogecoin I don’t think many blockchains have really gained public charm. There may be a lot of interest towards certain chains within the crypto community, but public interest? I don’t think so. In fact, Dogecoin doesn’t even have much interest outside of that everyone has heard of it.

Cosmos has a huge following primarily because of airdrops. During the bull cycle a lot of money was being made for free just by holding ATOM. Who doesn’t like free money at the end of the day? I like Cosmos, it’s a great project, I like Ethereum, I like Bitcoin, I love Polkadot obviously. All of this stuff is complimentary at the end of the day. This space is way too rife with speculation and many people here see the best project as the project that makes them the most money. People here for the technology and future potential often tend towards projects like Polkadot, even Cosmos. I love IBC and XCM and together they can create a better Web3 experience.

We aren’t even a year into para-chains and XCM is still extremely young, none of this is a finished product at the moment. Everything will continually be upgraded, we will see what works and doesn’t work, we can upgrade without hardforks, anybody can create a proposal on-chain to create change.

The potential with Polkadot is massive.