The Cardano network is one of the most famous decentralized blockchains based on Proof of stake algorithm (PoS) works. The Cardano ecosystem is developing at a high speed; So, identifying the best Cardano projects among its hundreds of blockchain-based projects seems to be a difficult task. The developers of this network have focused on increasing flexibility, improving the user experience and increasing security. In this article, we will introduce 15 of the most important projects of the Cardano network in 2023.
For a better understanding of this article, we suggest the article What is Cardano? Read on the blog Valx.
What is Cardano?
As we mentioned in the introduction, Cardano is one of the ecosystems Decentralized is developing at a high speed recently. The native token of this network is ADA, named after Augusta Ada King, the first computer programmer. This network uses a special proof-of-stake protocol that Ouroboros It is called Ouroboros is able to perform thousands of transactions per second at high speed.
Cardano has tried to use superior technologies to improve its security. In addition, features such as decentralization are at the top of the goals of this network; In such a way that it has even affected staking in its pools. It is interesting to know that in Cardano pools, if the number of tokens increases; The reward amount will decrease.
The impact of hard forks on the development of Cardano projects
The large number of Cardano projects is due to its extensive and continuous updating. Cardano hard fork has applied many changes to this network and Cardano projects. Cardano’s hard forks are Shelley, Mary, Alonzo and Vasil respectively, the last two being more famous and influential.
Wasil’s hard fork was the last update that, in addition to increasing the speed of transactions, improved scalability and increased network capacity. By increasing the capacity of Cardano, it became possible to develop more decentralized applications based on the Cardano blockchain. Vasil’s hard fork also made it easier to code applications on this network and reduced the cost of software development. All these factors made us witness Cardano projects on a large scale today.
15 top and important projects of the Cardano network
In this section, we are going to introduce the top 15 projects in the Cardano network. Although the number of projects in this network is very large; But we have tried to point out some of them that have more popularity and advantages. Familiarity with Cardano projects helps us to provide the best analysis of Cardano and to correctly predict its trend in the future.
Genius Yield
The Genius Yield project is one of Cardano’s projects that focuses on optimizing user performance and transactions. Genius Yield uses advanced optimization algorithms to implement superior trading strategies. This program is based on Smart Swaps is, uses centralized liquidity; This means, capital allocation is based on the asset price range.
In general, Genius Yield develops an intelligent liquidity management protocol that operates on the basis of artificial intelligence. This project finds the best scale for risk-reward ratio. The white paper of the Genius Yield project is very attractive and that is why it has increased its popularity.
JPG Store
One of the most well-known Cardano projects in the field NFTs or non-fungible tokens, JPG Store. This project is actually a very attractive online NFT market. In this market, hundreds of NFTs can be bought for thousands of digital currency wallets. To buy them, just connect to the JPG Store platform with one click. The user interface of this software is very smooth and comfortable; Also, its support is incredibly timely and professional. You can discuss your problems in this project (for example, in the field of transactions) with the support experts so that they can be resolved as soon as possible. It seems that trying this interesting project should be one of the priorities of Cardano enthusiasts.
Meld
Meld is one of the Cardano projects that pursues several goals. Meld tries first and best Urgent loans provide you with Furthermore, the Meld project is decentralized, durable, borderless and secure. It is interesting to know that in this project, you can use your digital currency assets as collateral to get a low-interest loan in fiat. Among the features of Meld is the ability to collaborate and connect to services such as AMM, LPs and insurance.
THEOS
Theos has come to create a peaceful coexistence between non-fungible tokens and fungible tokens. Theos is one of the Cardano projects that integrates all types of tokens. This project for the integration of DeFi and NFT pursues goals such as reducing pollution and carbon consumption. It is good to know that Theos is supported by many artists, musicians and celebrities. To be fair, the white paper of this project is very interesting and it is recommended to read it; Because it describes how NFTs are supposed to co-exist alongside DeFi applications.
Yamfore
The Yamfor platform is one of the Cardano projects on the process Lending has focused But the interesting thing is that the loans in Yamfor are extremely tempting. For example, you don’t have to repay the interest in Yamfor; This means a hassle-free loan! Yamfor is not a centralized exchange and this feature ensures its role in the future of DeFi. This project uses an irreplaceable bond offering mechanism, which makes the token distribution method more fair and equitable.
Cardstarter
Among the top projects of Cardano is Card Starter, which as a Decentralized accelerator it works. This project is actually one of the main sources of liquidity for entrepreneurs in the Cardano ecosystem. With the help of the Card Starter project, financial resources are provided to launch valuable cryptographic projects on the Cardano network, in order to further prepare the ground for the adoption of crypto in the world. The native token of this project is CARDS, which acts as the fuel of the project. The use of this token to launch Cardano projects in the future is very high.
IAMX
One of the most future-oriented projects of Cardano is IAMX. This project, in fact, tries to identify the users in the blockchain world, a lot Safe and accessible holds. With the help of IAMX, users can have full control over their personal identity and share it whenever needed with just one click.
Independent Identity (SSI) is what IAMX gives you. Users can store their identity information on their device and use it to verify transactions or other applications. This project gradually transfers the responsibility of maintaining user information from governments to blockchains.
AADA
AADA is the oldest application in the Cardano network that implements lending and borrowing processes. With the help of this project, users can get rewards by depositing their digital currency assets. In addition, they can borrow assets and take other financial actions. Although these uses are classic and traditional; But AADA does all of them best.
AADA for lending from Pool loan protocol PLP Uses. This protocol makes lending easier and more affordable for the user. AADA’s user interface is very smooth and can be connected with various digital currency wallets. All your actions are summarized in an AADA dashboard and you are assigned a ballot in the governance community of this project.
Revuto
ReVuto is one of the Cardano projects that helps manage user subscriptions to Netflix and Spotify. You can easily activate or deactivate your subscription with the help of this project’s dedicated software; You can also manage your property at the best and most transparent level. It is interesting to know that Decentralization In the Revuto project, it is based on centralized processes. In fact, you centralize your subscriptions based on a decentralized protocol. The future of this fascinating project is still uncertain and it remains to be seen where it will lead.
Indigo Protocol
Many users on the Cardano network are ardent supporters of the Indigo Protocol. The Indigo protocol is one of Cardano’s projects Derivative products related to. With the help of this protocol, you can trade other cryptocurrencies on the Cardano blockchain. This is technically very impressive; Because it allows you to invest via iETH on Ethereum or iAVAX on AVAX. This protocol is suitable for all applications that operate through artificial assets. In the white paper of this program, how it works is explained well.
AXO
AXO can be called Cardano’s child. This is an interesting interpretation for one of the best Cardano projects. Axo is actually a DEX that focuses on optimized designs. All experts and financial veterans in Axo have officially written its program. In the white paper of this project, the amount of research done and its background is fully explained. The developers of this app are working on AMM DEX, a new generation of DEX that optimizes in-network fees. You can deposit your digital currency assets in one of the liquidity pools and invest in it with the help of its native token called MAL.
Charlie3
How familiar are you with oracles? In fact, they are the interface between the world of the blockchain and the world outside it and provide the possibility of requesting data from the blockchain. Maybe the name ChainlinkYou have heard. China Link is one of the most famous oracles that has been a leader in this space. But this is not the only Oracle. Currently, many projects are trying to provide the best oracle. Charli3 is one of the famous Cardano oracles created for the developers and investors of this network.
It is interesting to know that Charlie 3 is also a toolbox and you can contact the support team to use its tools. It is possible that in the future, its tools will be available to all users through an open source protocol. In the white paper of this project, the project structure, security and its goals are fully described.
Empowa
One of Cardano’s most famous housing projects is Empowa. You may have heard of RealfFi. RealFi is a blockchain-based project that provides real services such as buying real estate to users with the help of cryptocurrencies. The Empowa project is a newer version of this application that was created on the Cardano network. Mpova was created mostly for African users to buy cheap housing in African countries such as Mozambique using decentralized assets. It is likely that in the future, the use of NFTs in Empowa will increase to improve ownership.
World Mobile Token
WMT or Universal Mobile Token is going to revolutionize the world. WMT is actually one of the strangest Cardano projects that allows users to pay for phone calls and SMS at a very low price. WMT does this in the local currency of each country, and for this, it takes help from operators and EarthNodes. This project currently has more than 20 thousand maintainers. Despite the extensive and attractive services of this network, it may seem a little worrying; Because its growth in the future will cause the downfall of telecommunication companies.
MueslySwap
Among the Cardano projects that have provided a suitable platform for earning money; It’s called MueslySwap. The project’s proprietary token is called MILK, which is a useful tool for priority trading, voting and betting. You can trade MILK, own shares in it and earn profit from it. This token is supported by many DEX wallets.
Challenges facing Cardano projects
Cardano projects are being developed day by day. The number of these projects has reached the limit of 1000 projects. What has worried analysts about the future of Cardano’s price and the future of Cardano’s projects; There are many users of the Cardano network. Currently, more than 1.6 million users are present in this network. Although this issue is considered an advantage; But this amount of users has made it very difficult to control the volume of traffic. Another problem is the synchronization of Cardano projects, which has caused problems for testing the network of smart contracts.
The article introducing the top 15 and most important projects of the Cardano network in 2023 for the first time on the Wallex blog. appeared.
