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Crypto Analysis - Coggle Diagram

- - - - smart contracts
      - Uses a hybrid consensus algorithm combines proof-of-history with proof-of-stake
        
        Up to 50k T/s
      - DApps
    - - founded by Anatoly Yakovenko - engineer manager @ Qualcomm, SE @ Dropbox
      - mainnet beta was launched Mar 2020
      - Released Feb 2018
      - 2017 ICO boom, raise $25 M in public & private funding
    - - Max 500 M tokens, current 272 M (Dec 21)
      - Founders 60%
      - Community 38%
    - - 200+ Projects
        
        USDC
        
        USDT
        
        Serum
        
        Terra
        
        DeFi projects: O3Swap, Arweave, SolStarter & Oxygen
        
        Chainlink
      - 1000+ validators
      - 75% SOL tokens are staked
    - - decentralization is still debate
      - costly validators high cost to run a node
      - still in beta
  - - - Developers: Ethereum co-creator Gavin Wood
      - Maintained by Web3Foundation
      - Released May 2020
      - Supply 10 billion DOT tokens
      - ICO Oct 2017, price was $0.29 with 2.24m tokens
      - 2nd ICO Jul 2020, price was $1.25 with 342k tokens
    - - allowing value and data to be sent across previously incompatible networks B, E
    - - facilitating network governance
      - staking for operations and security
      - bonding tokens to connect parachains
    - - 1000 T/s
      - main blockchain (relay chain)
      - user-created parallel chains (parachains)
      - more parachains, get faster could hit 1M T/s
      - NPoS (nominated proof-of-stake) mechanism with validators and nominators
        
        Nominators back validators with their tokens
        
        maximize chain security by making it prohibitively expensive to misbehave
      - 4 core components
        
        Relay Chain
        
        Polkadot’s “heart,” helping to create consensus, interoperability and shared security across the network of different chains
        
        Parachains
        
        independent chains that can have their own tokens and be optimized for specific use cases
        
        Parathreads
        
        similar to parachains but with flexible connectivity based on an economical pay-as-you-go model
        
        Bridges
        
        allow parachains and parathreads to connect and communicate with external blockchains like Ethereum
    - - can process many transactions on several chains in parallel (“parachains”)
      - highly flexible and adaptive, allowing the sharing of information and functionality between participants
      - automatically upgraded without the need for a fork in order to implement new features or remove bugs.
      - layer-0 metaprotocol because it underlies and describes a format for a network of layer 1 blockchains known as parachains (parallel chains)
      - facilitating cross-chain transfer of any data or asset types, not just tokens
        
        allowing blockchains to be interoperable with each other
      - was designed to provide a foundation for a decentralized internet of blockchains, also known as Web3
      - can connect public and private chains, permissionless networks, oracles and future technologies
        
        allowing these independent blockchains to trustlessly share information and transactions through the Polkadot Relay Chain
  - - - Released Sep 2020
      - support smart contracts and EVM-compatible (Ethereum Virtual Machine)
        
        developers can build or migrate DApps, tools and other ecosystem components on the BSC network without much friction
      - relies on the Tendermint Byzantine Fault Tolerance (BFT) consensus and delegated proof-of-stake (DPos)
      - independent blockchain
    - - Proof-of-Authority and Delegated Proof-of-Stake
      - only ever be a total of 21 validators - reduce trans cost
      - Cross-Chain Bridging - enable users to bring their USDT, BUSD and ETH to BSC
      - Native interoperability: seamless for users to move their cryptocurrencies between BC and BSC.
    - - Launched Jul 2017, ERC-20 token
        
        Tokens designed and used solely on the Ethereum platform, fungible
      - Supply: initial max 200 M burns to 100 M
      - Uses
        
        serves as the gas fees for transactions on BC, issuance costs for new assets, minting and burning costs and more
        
        powers the BSC, and is used for delegated staking on the authority validator
        
        to pay for trading fees on the exchange
    - - PancakeSwap
        
        VLT$150m on Jan 23 to $2.5 b Mar 2021
        
        the second most popular DEX after Ethereum’s UniSwap
  - - - Breakthroughs - Consensus
        
        using repeated sub-sampled voting by validators to make consensus fast & affordable
      - uses Subnets as a novel method of horizontal scaling
      - the fastest smart contracts platform in the blockchain industry, as measured by time-to-finality
      - Launched Sep 2020 by Ava Labs (NY)
        
        Raised ~ $300 M in funding
        
        Private & public token sales $48 M
        
        Founding teams Kevin Sekniqi, Maofan "Ted" Yin, and Emin Gün Sirer.
    - - 3 block chains
        
        X-Chain (Exchange)
        
        creating & trading assets (Avalanche)
        
        C-Chain (Contract)
        
        smart contract creation (Snowman)
        
        EVM-compatible DApps
        
        P-Chain (Platform)
        
        coordinating validators (Snowman)
        
        tracks active Subnets, and allows for the creation of new Subnets
      - Avalanche's consensus mechanisms
        
        Avalanche
        
        implements a directed acyclic graph (DAG) optimized consensus protocol
        
        Validators poll a sampling of other validators to determine whether a new transaction is valid. After a certain number of this repeated random subsampling, it's statistically proven that it would be all but impossible for a transaction to be false.
        
        Running a validator node and validating transactions have low and accessible hardware requirements
        
        process transactions in parallel
        
        Snowman
        
        builds on the Avalanche consensus protocol but orders transactions linearly
        
        beneficial when dealing with smart contracts.
        
        created blocks
    - - Scalability vs. decentralization
      - Interoperability
        
        Subnets – custom app-specific blockchains that share the primary network’s security, speed, and compatibility.
    - - Consensus mechanisms
      - claims to have the fastest time-to-finality in the industry
      - Decentralization (1300+ validators)
      - Interoperable blockchains
- - - - DApps & smart contracts
  - - - based on Bitcoin-NG
- - - - a framework for creating Ethereum-compatible blockchain networks and scaling solutions
      - Polygon SDK allows developers to create these Ethereum-compatible networks
      - Polygon Network - a Proof of Stake (PoS) sidechain
        
        fast and very low-cost compared to Ethereum
      - Dapps run on it - Aave, 1inch, Cuve, Sushi
      - Native apps - QuickSwap, Slingshot
      - Founders: Jaynti Kanani, Sandeep Nailwal, Anurag Arjun, and Mihailo Bjelic
    - - supports two major types of Ethereum-compatible networks: secured chains and stand-alone chains
      - MATIC token
        
        paying gas fees
        
        participating in governance
      - Polygon Bridge
        
        bring your funds from another blockchain network to the Polygon sidechain
      - The Polygon sidechain is secured by its own set of validators (validator pool), and it has to submit checkpoints to Ethereum from time to time
        
        have to take care of their own security instead of leveraging Ethereum’s security
        
        sidechains are not a “pure” Layer 2 solution