3 Top Blockchain Ecosystems You Should Focus on in 2022

The meteoric rise of blockchain technology in the past decade is nothing but spectacular. Bitcoin’s rise coupled with the growth of smart contract chains is enticing every global industry to try its hand at blockchain technology. Its decentralized, transparent and secure nature sees blockchain technology offer industries, companies, and governments a new light into the digital future. With the advantages of blockchain being witnessed across almost every industry, demand for blockchain ecosystems and protocols is at its peak. 

As the crypto and blockchain market grows rapidly, many developers and projects are investing loads of money to research and develop protocols that increase the value and innovation of their blockchain ecosystem. Across 2021, blockchain ecosystems such as Solana, Avalanche, and Terra money (LUNA) saw wild growth rates in value, community growth, and development – signaling the importance of building a sustainable blockchain ecosystem.

In this piece, we focus on a list of top blockchain ecosystems with the potential to massively gain value across 2022, their technology stack, features, and solutions they offer. 

A clear path to value growth in 2022

1.Ethereum

It must be a cliche by now seeing Ethereum mentioned as a top prospect coin despite being in the blockchain space since 2015. However, Ethereum has proven to stand the test of time and boasts of the largest blockchain developers community in crypto. The key to Ethereum making this list is the long-awaited upgrade to Ethereum 2.0, which Vitalik hinted at launching this year. The upgrade aims to implement sharding and reduce the exorbitant gas fees charged on on-chain transactions, which could see the blockchain grow even further in the future.

Riding as Bitcoin’s number 2 for the better part of its lifespan, Ethereum has recently morphed into a fully sustainable ecosystem and open financial system. The rise of Ethereum has been fueled by the rising markets including decentralized finance (DeFi), stablecoins, tokenized assets, securitization, and non-fungible tokens (NFT). Heading into 2022, Ethereum’s spark will likely come from decentralized autonomous organizations, or DAOs, which is an organization that runs on a blockchain protocol fully and autonomously in accordance with rules encoded via smart contracts.

Finally, the number of decentralized applications being built on Ethereum continues to increase despite competition from other L1 chains such as Avalanche, Solana, and Polygon. This shows the potential Ethereum still has in its tank despite a wild 250% increase in 2021. 

2.Oraichain

Launched in 2020, Oraichain, an oracle service, aims to revolutionize the blockchain industry by introducing artificial intelligence (AI) to smart contracts. Oraichain is one of the first platforms in blockchain to provide a bridge to bring AI to smart contracts. Unlike its competitors, Oraichain offers users a full suite of services that ensures every transaction is cheap, completed effectively, and decentralized. 

The platform has a host of features that create the world’s first AI-enabled blockchain ecosystem. A real look at what the future holds for blockchain projects. Here are some of the features that show how much the blockchain has grown and why it is such a successful ecosystem.

As explained, Oraichain has a host of features that build up a complete and sustainable blockchain ecosystem for its users. First, the AI-enabled oracle enables smart contracts to securely access external AI APIs hence enhancing the smart contract transactions on the platform. The platform also includes an AI marketplace that allows users to select and purchase AI algorithms and models from different providers in the world. The AI algorithms help developers and users build their decentralized applications (dApps), increasing the functionalities and efficiency of their dApps. 

Notably, the platform includes a fully stacked data hub that allows crowdsourcing for data across the Web 3.0 applications and platforms. The data hub is supplemented by an AI provider that allows developers publish, edit, and manage their work and earn rewards from the users on a global scale. Notwithstanding, Oraichain also includes an all-in-one NFT marketplace and platform, aiRight, that aims to leverage AI to create unique, artistic and rare assets. 

Other Oraichain ecosystem features include staking, the ORAI DAO, Oraichain Studio (CosmWasm IDE), and OraiDEX, a decentralized exchange launching later this quarter. Finally, users can make Ai requests to external third-parties to gain resources that will help their dApp grow further. 

3.Abracadabra.money

The final blockchain ecosystem on our list is Abracadabra.money. In the past six months, Abracadabra blockchain ecosystem, alongside its natiove SPELL token, has experienced wild growth rates thanks to its focus on creating a truly decentralized ecosystem and asset-backed stablecoin. Since launching in Q2 2021, SPELL has witnessed a 1500% increase in value to trade at $0.016, as of writing, as Abracadabra’s stablecoin, Magic Internet Money (MIM) grew to become the sixth largest stablecoin in less than a year. 

 MIM ranks as one of the biggest attractions of Abracadabra’s blockchain ecosystem. The stablecoin is fully collateralized and minted by depositing assets on Abracadabra’s DeFi protocol. These assets earn interest, which incentivizes staking wallets to deposit their assets on the platform. As of writing, the stablecoin boasts $4.55 billion in assets locked, according to data from DeFi Llama, and if Tether’s growth is anything to go by, MIM could just be getting started. 

Secondly, the leading developers of the project are expanding the horizons for its $SPELL token by integrating multiple chains and platforms. The platform recently announced added support for Sushiswap, following integration to Fantom and Binance Smart Chain last year. 

Finally, the blockchain ecosystem is gradually burning its 196 billion supply of $SPELL, as most of these tokens are no longer needed. Earlier this year, the team burned 5 billion $SPELL, adding to the 8.7 billion $SPELL tokens removed in early December. Additionally, the community voted to decrease the emission schedule by 20% moving forward. 

Final words

With the blockchain space expanding at a rapid pace, projects building an all-inclusive blockchain ecosystem will benefit greatly through 2022. Ethereum’s resilience and upcoming upgrades sets it apart, Oraichain’s AI-enabled smart contracts shines a new light on the future of blockchain, and Abracadabra’s asset-backed stablecoins ensure full decentralization. Could these projects lead the blockchain ecosystem growth in 2022?