With the start date of the Polkadot parachain auctions approaching; Popular crypto channel Altcoin Buzz shares the best projects competing for Polkadot Parachain auctions with the potential to go up 100x. this is the analyst altcoinHe stated that ‘s have large ROI (Return on Investment) for November.
Acala Network (ACA)
First on the list is the Acala Network (ACA), an on-chain DeFi hub in Polkadot. The trader highlights that Acala is an Ethereum-compatible platform for smart contracts.
“The platform offers services such as a staking derivative, a secured stablecoin, and an AMM (automatic market maker) DEX, which is trustless (you don’t need to trust any outsider, institution or other third party for a network or payment system to work). This platform is considered a close relative of Karura.”
The crypto strategist also supports Acala’s ChainLink, Moonriver, Shiden Network, etc. It also draws attention to its partnership with Major investors such as Digital Currency Group, Polychain Capital, Alameda Research and Coinbase Ventures are also known to invest in Acala.
Primer (ASTR)
Next on the potential 100x list aster (ASTR) there is. Astar, a scalable, interoperable and decentralized Web3.0 platform; Ethereum is considered Polkadot’s native dApp hub, supporting WebAssembly, dApp Staking and Layer2 solutions.
Lining also; It has 150,000 ETH as Total Value Locked (TVL), 30,000 communities and more than 40 projects in its ecosystem. The platform also aims to connect Ethereum and Cosmos blockchains to the Polkadot ecosystem.
Centrifuge (CFG)
The third altcoin on the list is DeFi, a platform that connects assets such as billing, real estate, and royalties. Centrifuge (CFG).
“TVL has $36.6 million. In other words, borrowers can finance their real-world assets without banks or other intermediaries. It is also open to everyone to provide liquidity to anyone for whom investors receive return CFG rewards.”
“He has a TVL of $36.6 million. In other words, borrowers can finance their real-world assets without the help of banks or other intermediaries. Also, providing liquidity is open to everyone and investors can receive CFG rewards in return.”
Darwinia Network (RING)
Darwinia Network (RING)connects heterogeneous chains to create the next-generation Web3.0 Metaverse. According to Trader, this decentralized platform allows projects deployed on public blockchains such as Ethereum and BSC to enter the Polkadot ecosystem.
In addition, Gavin Wood, co-founder of Ethereum and creator of Polkadot and Kusama, also endorses Darwinia as one of the “most notable projects in the Polkadot ecosystem.”
Moonbeam (GLMR)
fifth on the list Moonbeam (GLMR) located, Moonbeam; It is known as the kinship project of Moonriver, Kusama’s second parachain.
“This project contributes to the development of decentralized applications on Polkadot. As a result, Moonbeam dApps can also integrate with Bitcoin and Ethereum.”
This platform supports Solidity, Vyper and anything else that can be compiled to EVM bytecode. Users can also implement Ethereum-based tools such as MetaMask, Remix, Hardhat, Waffle, and Truffle.
Litentry (LIT)
Nearing the end of the list, sixth place is a decentralized multi-chain identity aggregation protocol. Litentry (LIT) exists. With Litentry, users can manage their identities and get real-time loans. The analyst thinks that one of the reasons why this platform is likely to experience an increase of up to 100x is that it is built on Substrate, which inherits superior features and the latest Blockchain technology.
“Litentry aims to be a Polkadot Network Parachain that leverages the strong cross-chain ecosystem and shared security.”
Efinity (EFI)
Created by Enjin, one of the pioneers of the NFT playground, Efinity is at the bottom of the list. According to the crypto strategist, Efinity is trying to solve some of the issues facing the NFT space. It is planned to provide a user-friendly platform for the mainstream NFT experience.
“As Efinity makes NFTs accessible to everyone, overall NFT adoption will likely increase.”
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.