There’s been a sense of positivity lately in crypto where people are starting to believe that we’ve bottomed out (or are very close to it). The “experts” have started to speculate about which projects or tokens will be the most profitable in the next bull run.
I’ve noticed that most of these projects are L1s, so I think it’s safe to say that everything appears to be the same, with so many offering similar or identical utilities. Scalability has been a thorn in the flesh of L1s, including BTC and ETH, but the smart money move (IMO) would be to focus on #blockchain trilemma-solving alternatives – none other than the Layer 0s.
It’s one that provides the tools that enable other blockchains to be built on top of them. It can also be designed for a specific purpose to alter 1 or 2 dimensions of the scalability trilemma, as opposed to all 3. Blockchains built on top of a L0 network can satisfy various trilemma dimensions. L0s set themselves apart from L1s by facilitating the ability for independent blockchains to be built on top of them.
DOT and ATOM are the two prominent L0 players.
DOT has a Relay Chain, which provides shared security and consensus for the Parachains, which are custom blockchains built within the Polkadot ecosystem. ATOM’s cosmoshub
is the central consensus chain of the network. It has its own validators and zones representing other blockchains linked to it.
Another L0 protocol worth mentioning is Geeq Official.
GEEQ is a multichain platform that supports any blockchain-powered application. Blockchain apps can live side-by-side with DeFi apps while having nothing to do with each other. Unlike other L0 and L1 blockchains, GEEQ has limitless scalability because it has no main chain. Every application is served by its own decentralized network, so there’s no shared overhead.
GEEQ can settle a wide range of on-chain transactions with no smart contract, making the platform faster and more scalable while removing dependencies and possible attack points. As the space matures, adoption will be a key factor in deciding the longevity of projects. Among the L0s, GEEQ has unlocked the potential for blockchain tech to solve real-world problems.
For example:
$GEEQ’s data services were added to MNWSupplyChain’s global supply chain middleware platform to help its international clients, like CoopFCL, the third-largest food distributor in Canada, and Gulftainer, a leading shipping operator. GEEQ enables medical data to be traced and recorded on a private #blockchain ledger so that you can verify the data’s integrity.
If these don’t scream “adoption” to you, nothing will
To summarize:
L0’s potential is in its ability to run independent and secure app-specific blockchains that will spur mainstream adoption and widen the number of blockchain use cases. I believe it’s a good place to look to invest before the bulls return.
This was originally a Twitter thread in regard to Geeq.
