Top Blockchain Companies in 2022
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Introduced in 2008, blockchain is a system which records cross-border digital transactions made in bitcoin and other cryptocurrencies across numerous PCs that are connected in a peer-to-peer network. In other words, a blockchain is a fast and secure way to buy and sell digital assets. The best part about a blockchain is that it provides supply chain visibility to suppliers and retailers. Moreover, blockchain systems are decentralized and implemented with open source software, in the sense that no government body regulates them.
The aim of introducing blockchain was to replace banks with software and it is said to be initiated by “Satoshi Nakamoto” by launching a project called “bitcoin.”
Each blockchain user is called a node and a node in the blockchain technology market initiates a digital transaction using its private key. The private key generates a unique digital signature and makes sure that no one can change it. Once done, the transaction gets broadcast to the verifying nodes.
The blockchain platform can use different methods to verify the validity of the transaction. If the transaction is found to be authentic, it will get a place in the ledger. It is believed that blockchain has the potential to revamp the stock market. Also, many organizations and banks have incorporated blockchain into their businesses.
Blockchain technology had seen a significant rise in institutional investments in 2021 leading to its tremendous growth. Last year alone, we saw credit card companies partner with blockchain companies to offer Bitcoin rewards. In January, Visa partnered with BlockFi, and in April, Mastercard partnered with digital currency exchange Gemini.
Seeing the growth of blockchain and its growth potential, it would be interesting to learn which are the top blockchain companies to watch in 2022.
Companies that have proven to contribute significant value to the blockchain space and improve the maturity and professionalization of the industry by offering effective blockchain solutions.
List of top Blockchain Companies:
Binance is the world’s leading digital currency exchange platform. The company provides a platform to exchange cryptocurrencies while taking care of liquidity and security. Founded in 2017 by Changpeng Zhao and Yi He, Binance is now one of the largest companies dealing in digital technology and finance with headquarters in George Town, Cayman Islands, Malta and various other locations globally.
Coinbase was founded in 2012 by Brian Armstrong (former engineer at Airbnb) and Fred Ehrsam (trader at Goldman Sachs). They wanted to provide users with an easy-to-use portal to buy and transact cryptocurrencies. At the time, Coinbase has become the largest cryptocurrency exchange in the US and succeeded in its mission.
Coinbase estimated total revenue of $1.8 billion during 2021’s first quarter to give you some financial details about its magnitude. On top of that, the crypto exchange caters to 56 million verified crypto users.
Chorus One has established itself as one of the most trustworthy and professional staking and validator services in the blockchain space. They’ve proven that you can run a viable staking business. At the moment, users have trusted $1,659,144,530 worth of assets staked with Chorus One.
They also support a massive list of proof-of-stake networks.
Synthetix allows developers to issue synthetic assets on the Ethereum blockchain. This is a compelling concept as you can transform any asset into a tradable asset while removing its potential restrictions.
Synthetix has opened up many new use cases for traders seeking new financial instruments. It wasn’t possible to employ trading bots for many traditional financial products to give you a concrete example. When trading synthetic assets, this becomes possible.
The Synthetix platform brings non-blockchain-based asset exposure to the crypto ecosystem.
Chainlink created the concept of decentralized oracles that make off-chain data available to smart contracts in a deterministic way. To get back to the temperature example, let’s assume we have ten nodes that request temperature data from different data providers. Then, we calculate the average temperature, and we write this number via a transaction to the blockchain.
Now, our gambling smart contract can access the temperature data and execute its logic without leaving the blockchain ecosystem.
Gemini is a crypto exchange founded by the famous Winklevoss twins in 2014. It’s a private exchange that also offers custodian services. The name Gemini refers to the Latin word for twins. The Winklevoss brothers have the vision of marrying both forms of money: fiat money and cryptocurrencies. They do this by offering various trading pairs where they map a cryptocurrency like Bitcoin against a fiat currency like the US Dollar (BTC/USD).
Circle brands itself as the payment infrastructure for internet businesses and are active in the crypto space since 2013. They are the company behind the popular stablecoin USDC, with a market cap of $11,241,731,453. The USDC stablecoin has its value “pegged” against one US Dollar. It means that Circle holds $1 in collateral for every USDC token they issue. It’s one of the most widely adopted stablecoins besides Tether (USDT).
Steem is a blockchain company providing services to social media users, developers and entrepreneurs. Founded in 2016 by Ned Scott and Daniel Larimer, the company launched the Steemit social media platform as its first application built upon the Steemit blockchain. On Steemit, anyone can earn rewards by posting quality content, upvoting and investing in Steem-based currencies.
Argo is a publicly-traded blockchain technology company based in London, United Kingdom. Known for large-scale cryptocurrency mining. Argo Blockchain is the only blockchain company listed on the London Stock Exchange. The company was established in 2017 by Mike Edwards and Peter Wall with the sole aim of making mining a legitimate operation. In 2020, Agro Blockchain earned a revenue of $18.96 million.
Hive Blockchain Technologies Ltd. is a crypto mining blockchain company that claims to use renewable energy for mining Bitcoin and Ethereum. The company is jointly funded by Genesis Mining and Fiore Group to provide robust blockchain solutions and accelerate the development of the blockchain sector through traditional capital markets and develop the leading listed blockchain infrastructure company.
Founded in 2013 by Olivier Roussy Newton, Hive Blockchain Technologies Ltd. is headquartered in Vancouver, Canada. In 2020, the company earned $33 billion in revenue, for a $9 billion annual growth.
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