Top 10 Blockchain Networks in 2024: The Ones To Watch

Image showing top 10 blockchain networks

Welcome to the world of blockchain technology, where things are becoming safer and faster. A blockchain is like a digital ledger (record book) that stores information across many computers. Once you add something, you can’t change it. At first, people only used blockchain for cryptocurrencies like Bitcoin. Now, it’s used in many areas like gaming, finance, and even real estate. 

In today’s world, we need things to be safe, clear, and quick—this is where blockchain shines! Let’s look at the top 10 blockchain networks. Each one has special uses in different industries. We’ll explain why they’re leaders in security and innovation.

Important Terms in Blockchain Networks 

Before we look into each blockchain network, here are some important terms that will help you understand how blockchains work.

Token Price

This is the current value of a cryptocurrency or digital asset on a blockchain. The price can go up or down depending on how many people want to buy or sell it, how people feel about the market and other economic factors. The token price can show how strong and promising a blockchain network is.

Dapps (Decentralized Applications)

DApps are apps that run on a blockchain network instead of on one central server. They are more secure, transparent, and give users control over their own data.  You can use them in things like games, social networks, and finance.

Smart Contracts

Smart contracts are like agreements that run on their own. You write them into code on the blockchain. When certain conditions are met, they automatically do what they are supposed to do. This removes the need for middlemen and automates the process.

Total UAW (Unique Active Wallets)

This number shows how many unique wallets (like digital accounts) are active on a blockchain network. It tells us how many people are using the network.

DeFi TVL (Total Value Locked)

DeFi TVL measures the total value of assets locked in Decentralized Finance (DeFi) platforms on a blockchain network. It’s like the heartbeat of the DeFi ecosystem. A higher TVL means more people trust and actively use the network.

NFT Volume

NFTs  (Non-Fungible Tokens) are unique digital items like art, music, or virtual real estate that can be traded on a blockchain. NFT volume measures how much buying and selling is happening on a blockchain network. It shows the network’s important role in this growing market.

Transactions

Transactions are the basic actions recorded on a blockchain. A transaction is the transfer of value or data between users. How often and how fast transactions happen show how efficient a  blockchain network is.

Dapps Volume

DApps volume is the total value of transactions made by decentralized applications on a blockchain network. It gives us an idea of the economic activity in the DApps ecosystem and helps us understand the network’s usefulness.

The Top 10 Blockchain Networks

BNB Smart Chain

Formerly known as Binance Smart Chain, BNB Smart Chain has become very popular in the blockchain world. People know it for its low fees and fast transactions. This network is a top choice for decentralized applications, especially in DeFi (decentralized finance) and NFTs (non-fungible tokens). Its design allows easy transfers between BNB Chain and BNB Smart Chain, offering flexibility and ease of use. Developers love it because it’s easy to build apps, and there’s a strong community supporting it.

Ethereum

Ethereum is a leader in smart contracts and decentralized applications. As the second-largest blockchain network, it has made many innovations in DeFi and NFTs. Ethereum faces challenges like network congestion and high fees. However, with the launch of Ethereum 2.0, the network will be faster and cheaper to use.

Polygon

Formerly known as Matic Network, Polygon helps improve Ethereum by making it faster and cheaper to use.  It’s great for developers who want to build on Ethereum but don’t want to deal with high fees. Polygon has a lot of DeFi projects and partnerships that are helping it grow.

Tron

Tron is a blockchain network known for its high transaction speeds and low fees. It’s popular in the entertainment world, where people use it for gaming, social media, and streaming platforms. Tron also owns BitTorrent, which shows its dedication to helping content creators.

Avalanche

Avalanche is one of the top blockchain networks for several reasons. It can handle thousands of transactions per second and has strong security . It allows developers to create custom blockchain solutions,  making it perfect for things like DeFi and enterprise applications. 

Arbitrum

Arbitrum is like a helper for Ethereum. By moving some of the work off Ethereum’s main network, Arbitrum makes transactions faster and cheaper while keeping the blockchain secure. Because it works well with Ethereum’s smart contracts, it’s popular among developers who want to scale up their DApps without losing security.

EOS

EOS is a blockchain platform people know for being scalable and easy for developers to work with. It uses a system that can handle millions of transactions per second, known as the proof-of-stake (DPoS) consensus mechanism. This makes it great for high-traffic apps like games and social networks.

Fantom

Fantom is a blockchain network built to improve how we use smart contracts and decentralized applications. Powered by a special structure called directed acyclic graph (DAG),  It is fast, with low fees, and is perfect for DeFi and high-volume applications. More developers are joining Fantom, making it one of the most promising blockchains.

Base

Base is focused on making decentralized finance better. It uses advanced security and cryptographic techniques to handle financial apps safely. Base is designed to be flexible and scalable, so it can support a wide range of projects.

Solana

Solana is known for its speed and low costs. It handles thousands of transactions per second, making it great for high-frequency trading and gaming. Solana’s special technology, Proof of History (PoH), keeps things fast while staying decentralized.

How Hindsight VIP Comes Into Play

As blockchain networks grow and improve, Hindsight VIP is here to help you explore them. With Hindsight VIP, you can track transactions, visualize smart contracts, and see how blockchains work in real-time. Whether you’re a developer or an investor, Hindsight VIP gives you the tools you need to make smart choices.

For developers, Hindsight VIP shows how well-decentralized apps (DApps) are working on networks like Ethereum, Polygon, and Solana. For investors, Hindsight VIP provides real-time data on NFT trading and active wallets, helping you spot trends.

But Hindsight VIP is more than just a block explorer. It simplifies complicated blockchain data, making it easy for businesses, developers, and investors to understand and use. As blockchain continues to evolve, you can rely on Hindsight VIP to guide you through this fast-changing world.

Conclusion

Blockchain technology is revolutionizing the way we handle transactions. It offers a safe, transparent, and efficient way to store and move data. While blockchain started with cryptocurrencies, it now helps many industries, from gaming to finance. Each of the top 10 blockchain networks has something special to offer, and understanding these networks will help you stay ahead in this exciting field.

With tools like Hindsight VIP, exploring and using blockchain networks becomes easier than ever. Whether you’re building the future of decentralized apps or making smart investments, these networks are the ones to watch in 2024!

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