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Gala is a web3 ecosystem powered by a layer-1 blockchain (GalaChain) built to power the Gala entertainment ecosystem that originally included Gala Games, Gala Music and Gala Film. More recently however, GalaChain has opened its doors to external developers and projects from any applicable industry, providing open source developer resources to simplify the process.

On a mission to empower users and creators across multiple industries throughout the world, Gala’s goal is to become the first billion user blockchain in the world. Innovators can extend the benefits of web3 to their users and communities more easily than ever before by leveraging open source tools like the GalaChain SDK and Creator Portal.

By elevating their ideas to web3 through GalaChain, developers can create custom tokens, smart contracts, reward opportunities and node networks for their communities and projects. Assets built on GalaChain can also be bridged to other blockchains, such as Ethereum, Binance Smart Chain and more. Developers who wish to learn more about getting involved with GalaChain are welcome to reach out via GalaChain.com.

The core of GalaChain is powered by its DePIN (Decentralized Physical Infrastructure Network) of Founder’s Nodes, whose operators earn daily $GALA rewards for actively providing resources to the ecosystem and enjoy governance voting rights on certain core Gala decisions. In addition to the Founder’s Node network’s foundational workload, individual projects can also create Node networks on GalaChain with more specific workloads.

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Gala

Hedera is the most used, sustainable, enterprise-grade public network for the decentralized economy that allows individuals and businesses to create powerful decentralized applications (DApps).

It is designed to be a fairer, more efficient system that eliminates some of the limitations that older blockchain-based platforms face — such as slow performance and instability.

It was funded through an initial coin offering (ICO) in August 2018 and first launched open access to its mainnet just over a year later in September 2019. As part of the ICO, investors were able to purchase the platform’s native utility token (HBAR) at the lowest possible pricing.

The HBAR token has a dual role within the Hedera public network.

First and foremost, HBAR the fuel that powers Hedera services, such as smart contracts, file storage and regular transactions. Second, it's used to help secure the network, since HBAR users can stake their tokens to assist with maintaining the integrity of the platform.

Hedera (HBAR) is the native cryptocurrency of Hedera Hashgraph, a platform that is positioned as an alternative to traditional blockchain technology and aims to excel in speed, efficiency and security.

Older blockchains tend to use a consensus mechanism like proof-of-work (PoW) to validate transactions, while younger blockchains opted for proof-of-stake (PoS). The Hedera Hashgraph system has a structure that was created from scratch particularly for the project. Hedera is based on a PoS model that is believed to increase the efficiency of transaction verification in the network, provide a high level of security, and protect the network from hacker attacks. Its ecosystem has the underlying hashgraph consensus algorithm and the global enterprise governing body.

Hedera Hashgraph is a distributed ledger technology (DLT). According to the project website, Hedera differs from other blockchains because it uses a new consensus algorithm called hashgraph. It intends to process and execute transactions faster, eliminate delays, and smooth out the TPS (transactions per second) indicator. Hashgraph is claimed to be an upgrade in transaction speed, cost, and scalability.

Core network services by Hedera:

Consensus Service (HCS). With HCS, clients send messages to the network to negotiate consensus timestamping and order. In this case, the state is stored offline, and users can define privacy and access control.

Hedera Token Service (HTS). Thanks to HTS, token creation and management are available to customers. It supports built-in tokenization.

The goal of Hedera’s hashgraph is to increase the speed of transactions. Moreover, the network is also focused on high-volume operations: micropayments, data integrity and tokenization.

Like the EVM, the Hedera network maintains a virtual machine that writes smart contracts in the Solidity programming language. On top of that, Hedera offers a set of built-in KYC and AML checks.

From a technical point of view, Hedera is a form of distributed ledger technology. It is a hashgraph, or consensus algorithm, where users agree on the order in which transactions should be performed. However, Hedera is not exactly a blockchain. It has its own distinctiveness and works differently. With hashgraph, all transaction branches are merged, no block equivalent is thrown away, and each is used to reach consensus.

One of the most noticeable features of the network is the Gossip-about-Gossip protocol. According to Dr. Leemon Baird, Hedera's inventor, within the system nodes randomly transmit data about themselves to other nodes via hashgraph using the Gossip protocol. Soon, all nodes in a cluster become familiar with each other. Then a certain data structure is formed. It consists of a payload of transactions, a timestamp, a digital signature, and hashes to the previous structures.

HBAR is Hedera's native token that powers applications on the Hedera network. HBAR is utilized to pay for network services, transaction fees, in-app payments and micropayments. Developers can pay network fees with HBAR tokens, namely: work with smart contracts, file storage and currency exchange. HBAR is used to incentivize and pay network nodes.

Hedera Hashgraph has a decentralized governance system that is set apart. All critical decisions about pricing policy, software updates, and wealth management are made by the Governing Council.

Hedera

Floki (FLOKI) is the people's cryptocurrency and the utility token of the Floki Ecosystem. It is a cryptocurrency birthed by fans and members of the Shiba Inu (SHIB) community and is inspired by (and named after) Elon Musk’s Shiba Inu.

Musk is a prominent fan of Dogecoin, although he publicly denied owning any SHIB. Floki Inu is working on “four flagship utility projects:”

An NFT gaming metaverse called Valhalla

A suite of decentralized finance products launched under the "FlokiFi" umbrella.

An NFT and merchandise marketplace called FlokiPlaces

A content and education platform called University of Floki

The community calls itself the “Floki Vikings” in honor of Floki (Musk’s dog) that was named after a Viking character. Floki vows to take its community efforts seriously and has been listed several times in the Top 10 of LunarCrush’s social engagement leaderboards. Floki has also partnered with leading crypto projects that include Chainlink, Trader Joe, ApeSwap for its FlokiFi Locker digital asset locker protocol.

Floki is also sometimes referred to by some as "Floki Inu".

According to the one-pager, BONK is the first dog-themed coin on Solana "for the people, by the people" with 50% of the total supply of the cryptocurrency airdropped to the Solana community. BONK is similar to Shiba Inu (SHIB) and Dogecoin (DOGE) memecoins, it was launched on December 25, 2022, and led to an increase in the price of the SOL token (a rise of 34% in 48 hours). Trading began on December 30, 2022, arousing genuine interest from the crypto community.

The main goal of the team is to bring back liquidity to Solana-based decentralized exchanges (DEXs). The idea of the developers was to create a full-fledged community coin that will be used across all the dApps built on Solana, and each user will have the opportunity to become part of the ecosystem, "where everyone gets a fair shot".

BONK was airdropped randomly to Solana NFT collectors, developers, and artists, other airdrop details remain unknown. Currently, the project has a small digital footprint on the Internet, except for an active twitter account.

The Internet Computer blockchain incorporates a radical rethink of blockchain design, powered by innovations in cryptography. It provides the first “World Computer” blockchain that can be used to build almost any online system or service, including demanding web social media, without need for traditional IT such as cloud computing services. As such it can enable full end-to-end decentralization.

Internet Computer

The Graph is an indexing protocol for querying data for networks like Ethereum and IPFS, powering many applications in both DeFi and the broader Web3 ecosystem. Anyone can build and publish open APIs, called subgraphs, that applications can query using GraphQL to retrieve blockchain data. There is a hosted service in production that makes it easy for developers to get started building on The Graph and the decentralized network will be launching later this year. The Graph currently supports indexing data from Ethereum, IPFS and POA, with more networks coming soon.

To learn more about this project, check out our deep dive of The Graph.

To date, over3,000 subgraphs have been deployed by thousands of developers, for DApps like Uniswap, Synthetix, Aragon, AAVE, Gnosis, Balancer, Livepeer, DAOstack, Decentraland and many others. The Graph usage has been growing at over 50% MoM and hit over 7 billion queries during the month of September 2020.

The Graph has a global community, including over 200 Indexer Nodes in the testnet and more than 2,000 Curators in the Curator Program as of October 2020. To fund network development, The Graph raised funds from community members, strategic VCs and influential individuals in the blockchain community including Coinbase Ventures, DCG, Framework, ParaFi Capital, CoinFund, DTC, Multicoin, Reciprocal Ventures, SPC, Tally Capital and others. The Graph Foundation also successfully completed a public GRT Sale with participation from 99 countries (not including the U.S.). To date as of November 2020, The Graph has raised ~$25M.

The Graph

PEPE is a deflationary memecoin launched on Ethereum. The cryptocurrency was created as a tribute to the Pepe the Frog internet meme, created by Matt Furie, which gained popularity in the early 2000s.

The project aims to capitalize on the popularity of meme coins, like Shiba Inu and Dogecoin, and strives to establish itself as one of the top meme-based cryptocurrencies. PEPE appeals to the cryptocurrency community by instituting a no-tax policy and being up-front about its lack of utility, keeping things pure and simple as a memecoin.

In late April to May 2023, the explosive surge of PEPE caused its market cap to reach a high of $1.6 billion at one point, minting millionaires out of early holders and attracting a strong community of like-minded followers. It has induced what some may dub a "memecoin season," causing other memecoins — some launched within hours — to go on spectacular pumps and just as astounding dumps. It remains to be seen if PEPE and other memecoins will go on to new highs, although that is certainly the hope of many believers waiting for the coming BTC halving cycle praying for a Bull Run.

The PEPE roadmap features three phases, where phase one includes listing on CoinMarketCap, and getting $PEPE trending on Twitter, while phase two includes listing on centralized exchanges (CEXs) and phase three includes “tier 1” exchange listings and what the team terms a “meme takeover.”

Pepe

Kaspa is a proof-of-work (PoW) cryptocurrency which implements the GHOSTDAG protocol. Unlike traditional blockchains, GHOSTDAG does not orphan blocks created in parallel, rather allows them to coexist and orders them in consensus. The Kaspa blockchain is actually a blockDAG. This generalization of Nakamoto consensus allows for secure operation while maintaining very high block rates (currently one block per second, aiming for 10/sec, dreaming of 100/sec) and minuscule confirmation times dominated by internet latency.

The Kaspa implementation includes a lot of cool features such as Reachability to query the DAG's topology, Block data pruning (with near-future plans for block header pruning), SPV proofs, and later subnetwork support which will make future implementation of layer 2 solutions much easier.

Kaspa

Render Network  is the leading provider of decentralized GPU based rendering solutions, revolutionizing the digital creation process. The network connects node operators looking to monetize their idle GPU compute power with artists looking to scale intensive 3D rendering work and applications to the cloud. Through a decentralized peer-to-peer network, the Render Network achieves unprecedented levels of scale, speed, and economic efficiency. On top of a decentralized GPU computing network, Render provides a platform for artists and developers to build services and applications for the emerging digital economy.

Render

Algorand is a self-sustaining, decentralized, blockchain-based network that supports a wide range of applications. These systems are secure, scalable and efficient, all critical properties for effective applications in the real world. Algorand will support computations that require reliable performance guarantees to create new forms of trust.

The Algorand mainnet became live in June 2019, and was able to handle almost 1 million transactions per day as of December 2020. Algorand transaction metrics can be viewed here. Algorand initial coin offering (ICO) was held in June 2019, with the Algorand price of $0.24 per token.

Algorand

SHIB is a decentralized, community-led currency held by millions across the globe. Since its inception in late 2020, the Ethereum-based SHIB token has grown to become a worldwide phenomenon, and is now accepted as a form of payment at hundreds of locations, either directly or through third-party intermediaries.

Shiba Inu coin was created anonymously in August 2020 under the pseudonym "Ryoshi." Ryoshi says about himself that he is a nobody and not important and that the efforts to unmask his identity, even if successful, would be underwhelming.

This meme coin quickly gained speed and value as a community of investors was drawn in by the cute charm of the coin paired with headlines and tweets from personalities like Elon Musk and Vitalik Buterin.

Since release SHIB now trades on the ecosystem's proprietary DEX, ShibaSwap.

VeChainThor (VET) is a versatile enterprise-grade L1 smart contract platform whose origins began in 2015. VeChain is known as a pioneer of real-world enterprise applications, and built a distributed platform powered by Internet of Things (IoT) technologies, NFC chips and blockchain to help various industries solve data-related challenges.

VeChain solves major blockchain adoption hurdles. The platform uses an intelligent two token model, VET and VTHO, separating the protocol's Store of Value and gas fee payment mechanisms, ensuring costs can be kept low and stable. Fee delegation allows smart contracts to pay gas fees on behalf of business users, and an advanced transaction model allows data to be packaged more efficiently while ensuring finality of data.

VeChain is focused on delivering a wave of incentive-based sustainability dApps through its new platform, VeBetterDAO, working closely with Boston Consulting Group to achieve adoption across enterprise and individual users, and helping  onboard the next billion users to Web3 over the coming decade.

From supply chains to sustainability, VeChain has continuously demonstrated its leading role as a driver of blockchain in business, and is dedicated to its role as a pioneer of driving real world adoption of blockchain technology.

VeChain

Launched in 2012, the XRP Ledger (XRPL) is an open-source, permissionless and decentralized technology. Benefits of the XRP Ledger include its low-cost ($0.0002 to transact), speed  (settling transactions in 3-5 seconds), scalability (1,500 transactions per second) and inherently green attributes (carbon-neutral and energy-efficient). The XRP Ledger also features the first decentralized exchange (DEX) and custom tokenization capabilities built into the protocol. Since 2012, the XRP Ledger has been operating reliably, having closed 70 million ledgers.

Sui is a groundbreaking layer-1 blockchain platform designed to support the needs of global adoption by offering a secure, powerful, and scalable development platform. At its core, Sui leverages a novel object-centric data model and the secure Move programming language to address inefficiencies prevalent in existing blockchain architectures.

On top of strong technical foundations, Sui prioritizes user experience by eliminating barriers commonly associated with blockchain interactions. Through innovations like zkLogin, sponsored transactions, and programmable transaction blocks, Sui creates a higher standard for user experience within Web3 by ensuring applications are accessible and user-friendly.

Stellar (XLM) is a peer-to-peer (P2P) decentralized network created in 2014 by The Stellar Development Foundation or Stellar.org. The network officially launched in 2015 with the purpose of connecting the world's financial systems and ensuring a protocol for payment providers and financial institutions. The platform is designed to move financial resources swiftly and reliably at minimal cost. Stellar links people, banks, payment processors and allows users to create, send and trade multiple types of crypto.

The basis of the network is its native digital currency - XLM or Lumens. XLM acts as an intermediate currency for operations and is also used to pay transaction fees. How it works: the protocol converts money in a few seconds, first into XLM, and then into the requested currency.

The Stellar payment protocol is based on distributed ledger technology -- an open-source development, community-owned and distributed by community. The crypto asset of the Stellar platform helps with cross-border transactions, overcoming the problems of high fees and slow procedures. XLM is more focused on assisting individuals transfer money than they are with institutions. Thus, Stellar offers access to financial systems, and people can send money at low cost and promptly around the world.

Moreover, Stellar serves as a decentralized exchange and marketplace, with a built-in order book that tracks ownership of Stellar assets. Platform users can manage buy/sell orders, as well as select and set their preferred assets in settlements. XLM is a built-in coin that helps reduce transaction fees.

The network maintains a high level of security.  XLM holders must have at least one token in order to remain active on the network. This nuance performs a global goal - the execution of network transactions efficiently and with minimal time costs. Plus, Lumens offers protection against flood attacks by making microtransactions too expensive for hackers with no chance of profit, which keeps Stellar Network safe from serious threats.

The target audience of Stellar is the inhabitants of developing countries, ordinary users who are provided access to the global economy through fast, simple and inexpensive transactions. Stellar Network makes extensive use of Lumens to produce live convection as well as to send cash in multiple currencies; currency is sent from one peer, and the recipient can receive the amount in another currency. This feature is beneficial when a transaction is made between currencies without widely traded pairs.

Support for multi-currency transactions is another competitive advantage of Stellar, and the ability for cross-currency transactions has only enhanced processes with foreign operations. Moreover, stable speed and low transaction costs are a privilege that users receive.

This functionality is powered by a development called Anchors (a bridge between different currencies and the network), which simplifies the exchange within the network and helps speed up the whole process.

In summary, the benefits of Stellar (XLM) include:

Stellar

Ondo

Filecoin is a decentralized storage system that aims to “store humanity’s most important information.” The project raised $205 million in an initial coin offering (ICO) in 2017, and initially planned a launch date for mid-2019. However, the launch date for the Filecoin mainnet was pushed back until block 148,888, which is expected in mid-October 2020.

The project was first described back in 2014 as an incentive layer for the Interplanetary File System (IPFS), a peer-to-peer storage network where users pay for data storage and distribution services in $FIL. Filecoin is open protocol and backed by a blockchain that records commitments made by the network’s participants, with transactions made using FIL, the blockchain’s native currency. The blockchain is based on both proof-of-replication and proof-of-spacetime.

Filecoin is open-source and decentralized, which means that all governance is in the hands of the community. On the Filecoin platform, developers have the opportunity to create cloud file storage services like Dropbox or iCloud. Anyone can join Filecoin and start storing their data or earn money by providing space for someone else's funds. The creators of Filecoin opted for their blockchain technology to run the network and their token with their own consensus.

$FIL is the native currency of Filecoin that powers the entire network and all processes. Clients pay for transactions in FIL tokens. Miners place FIL as collateral, guaranteeing their services.

The developers claim that Filecoin solves the problem of inefficient file storage and retrieval. Customers can find the right solution with an efficient set of tools and its core development, IPFS.

Filecoin

Founded in 2017, Chainlink is a blockchain abstraction layer that enables universally connected smart contracts. Through a decentralized oracle network, Chainlink allows blockchains to securely interact with external data feeds, events and payment methods, providing the critical off-chain information needed by complex smart contracts to become the dominant form of digital agreement.

The Chainlink Network is driven by a large open-source community of data providers, node operators, smart contract developers, researchers, security auditors and more. The company focuses on ensuring that decentralized participation is guaranteed for all node operators and users looking to contribute to the network.

To learn more about this project, check out our deep dive of Chainlink.

Dogecoin (DOGE) is based on the popular "doge" Internet meme and features a Shiba Inu on its logo. The open-source digital currency was created by Billy Markus from Portland, Oregon and Jackson Palmer from Sydney, Australia, and was forked from Litecoin in December 2013. Dogecoin's creators envisaged it as a fun, light-hearted cryptocurrency that would have greater appeal beyond the core Bitcoin audience, since it was based on a dog meme. Tesla CEO Elon Musk posted several tweets on social media that Dogecoin is his favorite coin.

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