Klever: Empowering businesses and individuals to unlock the decentralized economy with integrated blockchain technology

Klever 

Calling all Hackers!! We're thrilled to announce Klever, a game-changer in the world of crypto finance and blockchain solutions, and we were nominated for HackerNoon's prestigious Startup of the Year awards! Our headquarters are based in the vibrant city of São Paulo, Brazil. Vote for us now and show your support: Every vote counts! Click here! Are you also participating in SOTY 2023? If so, click here to fill out this interview. Let us introduce you to Klever, your ultimate gateway into the world of cryptocurrencies: Simplifying Crypto Management for All Are you a crypto newbie? Don't worry; we've got your back. At Klever, we believe that crypto should be accessible to everyone. That's why we've built a revolutionary platform with a user-friendly interface that makes managing and navigating the crypto world a breeze. With built-in features like our intuitive Swap tool, Web3 Browser, and round-the-clock support team, we've created an all-in-one crypto wallet app and ecosystem that takes the complexity out of crypto finance. Unleashing Creativity with Kleverchain But we didn't stop there. We've disrupted the industry with our very own blockchain, . It's a cutting-edge, low-code blockchain solution designed to empower entrepreneurs and developers in the crypto space. With Kleverchain, the path from idea to execution is drastically shortened. We offer pre-built dapps called Kapps, so you can transform your vision into reality faster than ever before. Kleverchain Standing Tall Among the Crowd What sets Klever apart from the sea of startups in the crypto finance space? It's our unwavering commitment to our users and the relentless pursuit of excellence. With over 3 million Klever Wallet downloads, we've built a thriving community that believes in our mission. Our blockchain ecosystem has already witnessed the success of numerous projects, thanks to the tireless efforts of our visionary team. And with a network available in over 30 languages, we provide unparalleled assistance to our users worldwide. global support 2023 and Beyond: Unlocking the Future of Crypto Finance While challenges and bearish sentiments persist, we remain optimistic. Regulatory landscapes are evolving, adoption rates are soaring, and market dynamics are shifting. At Klever, we're at the forefront of these transformations, anticipating every turn and paving the way for a brighter tomorrow. Why We Embarked on HackerNoon's Startup of the Year Awards Participating in is more than a chance to celebrate our achievements — it's an opportunity to inspire and be inspired. It's about standing shoulder-to-shoulder with the best, gaining recognition, and forging new connections. We believe in the power of collaboration and sharing our vision with the world. HackerNoon's Startup of the Year awards It's Time to Vote for Klever Now, it's your turn to make a difference. Join us in shaping the future of crypto finance by casting your vote for Klever in HackerNoon's Startup of the Year awards. Explore our innovative blockchain at and discover the simplicity of our wallet at . Stay updated with the latest trends and insights by following us on Twitter at klever.org klever.io klever_io. Klever is nominated as Startup of the Year in São Paulo, Brazil. Vote for us today!

Simplifying Crypto Management for All - Interview with Startups of the Year Nominee, Klever 

What is Happening? released its blockchain with prebuilt and ready-to-use smart contract functionalities for developers to build web3 applications. The KleverChain is secured through the Proof-of-Stake consensus mechanism composed of 21 validators that work on a randomised selection of master nodes dynamically changed every Epoch. Klever mainnet A user must first submit an application to be considered a contender for the position of a master node on KleverChain. The cost of 100,000 KLV is charged and destroyed during the application procedure for electing a masternode. Candidates for Klever Finance Blockchain master node must have 1,500,000 KLV in self-staking before being deemed active by KleverChain. Through self-staking and delegated-staking, master nodes must meet the barrier of 10,000,000 KLV before they can create blocks in the consensus. Masternode owners may indicate whether or not delegated staking is permitted and the maximum number of nodes that can be assigned to each entity. : Vested Interest Disclosure The author is an independent contributor publishing via our . Be it through direct compensation, media partnerships, or networking, the author has a vested interest in the company/ies mentioned in this story. HackerNoon has reviewed the story for quality, but the claims hereon belong to the author. #DYOR brand-as-author program What is Klever Finance? Klever Finance is developing blockchain solutions and goods for millions of consumers across the globe. Klever has created products and services on top of the world's leading blockchain networks over the years and presently hosts 100+ blockchain nodes on top of 20+ key blockchain protocols to guarantee maximum uptime for our worldwide consumers' every crypto demand. With over 160 developers globally, Klever provides extensive knowledge of blockchain technology, cryptography, and immutability for supporting high performance, speed and security for web3 applications. crypto Understanding the Impact of Masternodes on the Consensus Mechanism of a Blockchain Masternodes are very beneficial for a blockchain startup building a decentralized blockchain network. Web3 applications working on top of a blockchain network use the master node as a full node to validate transactions. Due to the proof-of-stake consensus mechanism transactions are completed more efficiently and scalable on a blockchain network as compared to proof-of-work (PoW). The transaction is verified by each and every node on a blockchain network. If one node refuses to confirm the transaction, the specific transaction is orphaned by the blockchain network. It is critical to note that the master node network allows for scalable transactions if the number of master nodes is centralized. However, this leads to a high centralisation risk as it the risk of a single point of failure. Nevertheless, this can be tackled with new consensus algorithms that solve the 51% attack on PoW and PoS blockchains. Further, it is critical to think about the consensus algorithm to govern the master nodes as per the principles of decentralized governance. Klever uses Practical Byzantine Fault Tolerance (PBFT) as a method to evaluate and grant bonuses to master nodes as part of its decentralized governance framework. increases Why Proof-of-Stake is the Future for Decentralized Governance As per Cong. T Nguyen, et al, Internet-of-Vehicles networks are increasingly important as Internet-of-Things (IoT) and networking technologies develop at breakneck speed. This has forced the automotive industry to develop smart vehicles that are capable of sensing and communicating, necessitating an IoV blockchain-based platform. becoming Vehicles and RSUs in an IoV network might share information via a blockchain-based approach which operates on a decentralized network. To tackle the governance approach, it is beneficial to use a form of Proof of Stake called Delegated Proof of Stake (DPoS), where the stake is RSUs' reputation in the blockchain network. Under this model, it is necessary for an RSU to make a deposit, which will be forfeited if the RSU engages in a malevolent activity, and for the RSU's reputation rating to exceed a certain level. Block proposers are picked among the applicants through the round-robin selection procedure to propose blocks that include data sharing records and reputation ratings for each round. The new block is subsequently added to the chain by a vote of the other candidates. This is a novel way of governing network members in a decentralized governance principles-based manner. PoS and DPOS are the future of the consensus mechanisms when it comes to developing applications for the web3 and the IoT industry. Final Thoughts on Klever Blockchain Mainnet Release The Klever mainnet blockchain release is a sign that the web3 ecosystem is going ahead with full force! Building the infrastructure for developing web3 applications for different economic sectors will create the next foundations of the technological revolution. In my opinion, the majority of blockchain networks such as KleverChain and Ethereum using a PoS consensus mechanism instead of PoW indicates a trend toward less energy-consuming blockchains which are secure and scalable in nature. Don’t forget to share the story! Image credits: , Pontus Wellgraf , and Pierre Borthiry. Dmitry Demidko

Klever Releases Blockchain Mainnet to Support Building Scalable Web3 Applications 

The wait is over! - it’s time to celebrate the champion startups of the world. Shout out to all of the participants in our ! You did a wonderful job showcasing your incredible startups and powering through another year. 2023 Startups of the Year is a community-driven voting platform brought to you by HackerNoon that recognizes and celebrates tech startups changing technology and the world for the better. The award started on May 8th, 2023, where the internet nominated and voted for 30k startups around the world. The voting period remained open until December 31, 2023, and now we are here with the winner announcement after a comprehensive evaluation by the HackerNoon team. Startups of the Year 2023 To see the top 3 startups in each respective city, visit and pick a city. hackernoon.com/startups You’ll get a little surprise 😉 Here are the Startups of the Year Regional Announcements: North America Europe Asia Africa South America Oceania Misc/Remote From all of us at HackerNoon, thank YOU for your excellent campaign perseverance 🥺 This year has been awesome! Startups of the Year 2023 is concluded with 623k+ total votes, up from 215k+ votes in the inaugural startup competition. We look forward to seeing you again in the next campaign (stay tuned 😉)! Without further ado, let us kick off the announcement by celebrating the cities with top votes per region for 2023 🎉 North America (11,697 votes): Winner: Bloomfilter Cleveland, Ohio (8,835 votes) - Winner: SerpApi Austin, Texas , California (5,564 votes) - Winner: Finch San Francisco (4,258 votes) - Winner: RELAYTO SoMa, California - (3339 votes) Winner: Windscribe Toronto, Canada, North America (3304 votes) - Winner: Vouched Seattle (2716 votes) - Winner: Seccuri Palo Alto, CA, North America (2671 votes) - Winner: Salsa Valley Miami, FL, North America (2,613 votes) - Winner: Majhi Group Manhattan, New York (2423 votes) - Winner: Flieber, Inc. New York City, NY, North America See the complete announcement for the . Startups of the Year, North America, here Europe (45,612 votes) - Winner: Algomo London, UK (2,344votes) - Winner: Data Lake Warsaw, Poland (1,955 votes) - Winner: Hoken Tech Bari, Italy (1716 votes) - Winner: Not8 Amsterdam, Netherlands (1657 votes) - Winner: KYVE Frankfurt Am Main, Germany (1566 votes) - Winner: BazaIT Kyiv, Ukraine (1496 votes) - Winner:  Unity Network Tallinn, Estonia (1,478 votes) - Winner: Volcaino Ghent, Belgium (1,288 votes) - Winner: Owl Me Dublin, Ireland (1198 votes) - Winner: Groover Paris, France See the complete announcement for the . Startups of the Year, Europe, here Oceania (3,350 votes) - Winner: Sharepass Melbourne (2,107 votes) - Winner: The Catfisher Project Perth, Australia (220 votes) - Winner: Gemini AI Solutions Auckland, New Zealand, Oceania (213 votes) - Winner: Nexustorage Wellington, New Zealand, Oceania (138 votes) - Winner: Coviu Sydney (124 votes) - Winner: Bopple Brisbane, Australia, Oceania (124 votes) - Winner: Regional CFO New South Wales, Australia, Oceania (106 votes) - Winner: Edit on the Spot Gold Coast, Australia, Oceania (93 votes) - Winner: Knowledge Satnav Canbera, Australia, Oceania , Australia, Oceania (48 votes) - Winner: Peptalk360 North Melbourne, Melbourne See the complete announcement for the . Startups of the Year, Oceania, here Asia (16,345 votes) - Winner: Serenity Shield Singapore (13,588 votes) - Winners: QUIXY Telangana, India (10,168 votes) - Winner: HealthySure Mumbai, India (3,865 votes) - Winner: InterviewBuddy Visakhapatnam, India (3,733 votes) - Winner: Omniflo Bengaluru, India (4589 votes) - Winner: MeNow Tel Aviv (3877 votes) - Winner: ForestVPN Dubai (2478 votes) - Winner: TechGraph Powai, Mumbai, India (1004 votes) - Winner: Reelo Ahmedabad, GJ, India (875 votes) - Winner: Debt Hunter Hong Kong, China See the complete announcement for the . Startups of the Year, Asia, here Africa (8,179 votes) - Winner: GO PLATFORM Algiers, Algeria (767 votes) - Winner: Tudu Accra, Ghana (415 votes) - Winner: Treford Lagos, Nigeria (265 votes) - Winner: Phalconwise Ogbomosho, Nigeria (157 votes) - Winner: AbuErdan Cairo (151 votes) - Winner: Eazipay Lekki (144 votes) - Winner: KaziConnect Dar es Salaam, Tanzania (101 votes) - Winner: faceATT Gauteng, South Africa (79 votes) - Winner: Dimagi Cape Town (71 votes) - Winner: Sabi Addis Ababa See the complete announcement for the . Startups of the Year, Africa, here South America (376 votes ) - Winner: UpGirl Santiago, Chile (217 votes) - Winner: Klever Sao Paulo, Brazil (191 votes) - Winner: Tributo Simple Buenos Aires, Argentina (127 votes) - Winner: Light-it Montevideo, Uruguay (87 votes) -Winner: Thousand Antioquia, Colombia (108 votes) - Winner: GetLavado Lima (101 votes) - Winner: Cogniflow Medellin (73 votes) - Winner: TPAGA Bogota (73 votes) - Winner: Reliv Quito (47 votes) - WInner: Quantex Cordoba See the complete announcement for the . Startups of the Year, South America, here Misc/Remote: Featured Startups (1500 votes) - Winner: CIC Chain Remote, Earth (1193 votes) - Winner: Reship Colony US Misc (146 Votes) - Winner: Partful UK, Misc (116 votes) - Winner: GoMining British Virgin Islands Misc (283 Votes) - Winner: tomorrowSpace Germany Misc (225 votes) - Winner: Dtravel Cayman Islands See the complete announcement for Misc/Remote startups . here Once again, HUGE CONGRATULATIONS and BIG PROPS to all of the top Startups of each region this year! The whole team at HackerNoon would like to thank you for your perseverance in the campaign, and we look forward to seeing you in the next campaign. About HackerNoon’s Startups Of The Year Startups of The Year is HackerNoon’s Flagship community-driven event celebrating startups that survived and thrived in 2023. 30,000 startups across 4200+ cities and six continents participated this year to be crowned the best startup in their city. Visit our page to learn more. FAQ Companies that blog more get 67% more leads - Jumpstart your company’s blogging journey by purchasing our . Business Blogging Package The 2023 Startups Of The Year is sponsored by: . . The winners get a free .Tech Domain, a HackerNoon NFT, and a Tech Company News Page. TECH Domains

Stand Up for the Champion Startups of the Year! 

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Setzen Sie sich für die Champion-Startups des Jahres ein!

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143 Stories To Learn About Future Of Finance

83 Stories To Learn About Proof Of Stake

186 Stories To Learn About Web3.0

The underlying technology of crypto and blockchain can theoretically be applied to any type of market sector/industry. It is simply a matter of introducing the technology correctly, somewhere in the supply chain/business model. Whether service-based, physical goods, or informational products there are touchpoints at which the presence of a digital asset or distributed ledger can serve beneficially towards improving a system. The natively digital economy is composed of a slew of different markets. Given the financial/accounting nature of cryptocurrency in general, a large portion of sectors stem from similar primitives and in turn overlap, due to the commonalities in infrastructural/ design elements. Let's look at 18 of the most popular sectors of the crypto economy: Content overview DEFI Store of Value Smart Contract Platforms Oracles Stablecoins CEXs DEXs Gaming Metaverse Wallet Logistics/Supply chain Social Media Prediction me I go score. Insurance Media/Entertainment Storage REFI Analytics 💱 💱 DEFI . The holy grail of crypto and blockchain applications. Decentralized Finance is an incredibly broad term that encompasses a multitude of different sub-categories relating to finance including insurance, exchanges, lending/borrowing, payments, liquid staking, and others. Decentralized Finance What set decentralized finance apart from traditional finance is the “operating system” upon which it runs and the distribution of ownership over the application and the industry; in the case of a crypto-based DEFI, that system is a blockchain network. At the highest level decentralization is the diffusion of power throughout multiple parties, decentralization in regards to finance exists across two paradigms; the application level, where a single protocol is decentralized, and at the industry level, where it is possible to create competing protocols without having regulatory moats deny access to regular people. Application of Crypto: Strong - Incentive for bootstrapping liquidity into a protocol - Distributing governance rights UniSwap ( ), Compound ( ) Ex: UNI COMP 👑 👑 Store of Value A commodity of the digital economy. This is basically a class of monetary assets that specifically serve the function of facilitating the protection of buying power over the course of time. The purpose of projects in this space should be to minimize any technical complexities in their networks (which reduce risk vectors and the surface area of potential hacks) and focus on optimizing monolithic architectures that heavily prefer maximizing security. Generally speaking in order to classify as a store of value, the economic design that underpins a digital/crypto asset must exhibit characteristics superior to fiat systems with concepts such as deflation, fixed supply policy, and resistance against being controlled by any geographic entity. Application of crypto: Very Strong - Tool to represent digital claims on a repository of tokens (UTXO) - Object of attributing energy storage Bitcoin ( ), Litecoin ( ) Ex: BTC LTC 🧫 🧫 Smart Contact Platforms Distributed ledger networks that allow for the instantiation/deployment of code with arbitrary logic to create general-purpose programs. Also commonly called, Layer 1’s, smart contract platforms allow for applications to be built on top of them while providing them with security and computation. The timeless interest in scalability has brought a new generation of blockchain technology to the forefront with modularity called L2. There has been insane hype around this and funding by venture capitalists attempting to introduce even newer L3’s modular scalability technology trying to garner its own sector of the digital economy, however, I personally do not think that it will last. My thesis is that while L2s will survive and thrive, the modular narrative will die; rollups don't need tokens. Application of Crypto: Very Strong - Incentive for node management Ethereum ( ), Solana ( ), Polygon ( ) Ex: ETH SOL MATIC 🔭Oracles 🔬 Pipelines that connect on-chain and off-chain data sources to feed information between siloed digital environments that are otherwise not capable of transferring information. Oracles are a middleware that exists somewhere between the fabrics of Web2 and Web3 which act as an added layer of trust for providing accurate, timely, and relevant information to applications. Applicable to every industry/business model, Oracles are generalized automatons that have strict input-output demands. Giving an Oracle a hard set of “if-then” rules helps create a monitoring system for guaranteeing arbitrarily anything. The dominant application of oracles within crypto has been to provide price feeds. Since blockchains are not “aware” of themselves they need external prompts in order to trigger some kind of action. Ethereum the blockchain does not know the price that society is paying for ETH. Thus for an application such as decentralized exchange, oracles are needed in order to fetch information about the prices of assets and bring them on-chain. Application of Crypto: Very Strong - Incentive for node management - payment method for requests ChainLink ( ), Band Protocol ( ), UMA ( ) Ex: LINK BAND UMA 💵 Stablecoins 💶 Tricky terminology with two categories of meanings that depends on the context and the group of people talking. At the most basic level, the term is used to express a token that is stable in price, . While 99% of the conversations around stablecoins relate to pegged fiat currencies; is also the terminology used to describe wrapped crypto assets across chains and representative commodities such as gold-backed cryptos. stablecoin relative to the asset which it represents stablecoin Ultimately, stablecoins are just tokens that represent the price of their underlying asset. Technically this is a very intuitive sector to comprehend, the complexity in this sector arises from over-ambitious testing (ahem, algorithmic stablecoins ) and political intrigues relating to the countries that issue the underlying assets. {basically money out of thin air} Application of Crypto: Strong - Tool to track price , , , , Ex1: USDT USDC BUSD DAI TUSD , , , Ex2: WBTC WETH DGX PAXG 📉 CEXs 📈 Centralized Exchanges. Possibly the most common interface for onboarding traders and investors. CEX’s provide the industry with a wealth of important services and information. They are venues where users can engage in exotic financial operations (such as 100x margin), they are the primary sources of price data for oracles, they typically. Many modern-day, crypto-centric centralized exchanges also tend to issue their own tokens. The utilities of their tokens tend to be over-imaginative, but generally, they are just fee discounts for using the exchange. Starting from the shenanigans of Mt. Gox in 2014 and rolling into the crazy FTX saga of 2022, centralized Exchanges have a muddled history in the crypto industry of constant consumer allegations and regulatory scrutiny for fraudulent behavior, faking data, fund misappropriation, and other undesirable things. Application of Crypto: Moderate - Tool to track price - discounts on trading fees KuCoin ( ), , , Binance ( ) Ex: KCS Phemex MEXC BNB 📈 DEXs 📉 Decentralized Exchanges. One of the many sub-categories of DEFI and the potentially better twin sister of CEXs. Decentralized exchanges are the facilitators of trade for digital assets in the crypto economy. Within the context of exchanges, decentralization exists in two major ways; decentralization of the control over order flow with the utilization of AMM bonding curves (allowing anybody to become an LP), and decentralization over the ownership of the platforms through a DAO. There are two general models of placing bids/trades in a DEX, AMM, and order books. Automated Market Making involves pricing assets on a bonding curve based on the ratio of assets within a pool. Orderbooks are the traditional model where bids/asks are organized according to wherever users set their prices. Both models have merit and both models have been getting a lot of innovation taking place around them. Application of Crypto: Moderate — Strong - Incentivizing LP’s for liquidity provisioning - Mechanism to offset hacks - DAO membership Balancer ( ), Pancake ( ), ThorChain ( ), 1inch ( ), Bancor ( ), SushiSwap ( ), TraderJoe ( ) Ex: BAL CAKE RUNE 1INCH BNT SUSHI JOE 🎮 Gaming 🎮 One of the most actively pursued areas of development within the crypto industry is gaming. Beyond crypto, gaming has always been one of the most sought-after industries by investors and startups due to its extremely high rate of growth. Even in 2023, the gaming industry, as a whole, is anticipating a CAGR of over 13% over the next 5 years. The reason that gaming is such a hot topic is due to the fact that it holds the promise of incredibly high user retention, high transaction frequency, and near-zero costs for new product releases. Once a game penetrates society, the incremental costs of releasing new products (such as skins in a game) are laughable in comparison to the income that it brings for the game. Application of Crypto: Weak - In-game currency Gala (GALA), Enjin (ENJ), Illuvium (ILV) Ex: 📺 Metaverse 📺 A grossly misunderstood and misappropriated term, Metaverse is a generic, broad word typically used to drive conversations around AR/VR, gaming, and the intersection of human evolution with technology. So many startups in the space just throw out Metaverse as a buzzword in an attempt to appeal to unknowing retail users, meanwhile, there is more worthless vaporware projects in the Metaverse category than nearly any other. There is only one sub-category of “meta-verse” assets that hold potential and that is digital land. Land in cyberspace might be valid, but then again, this teeters quickly from the catchphrase of metaverse into gaming, as these lands are typically used for and belong in, games. Application of Crypto: uncertain - Reward for users participating - promise of DAO membership - promise of abstract, non-tangible things Decentraland ( ), Sandbox ( ) Ex: MANA SAND 👛 Wallets 👛 A pioneering OG sector of the digital economy, wallets were one of the first applications to exist and remain as possibly the most important. Wallets core functions of managing Public/Private key pairs, and storing, receiving, and transferring cryptocurrency puts it at the very heart of basically all other applications. They are the foundation for onboarding and retaining users. Decentralization of wallets is a vitally important aspect to the creation of a holistic crypto economy because the presence of a decentralized enough system of ownership will protect a wallet’s users from nefarious governments trying to monitor their activities. Application of Crypto: Moderate - Incentive for attracting users to hold deposits on their platforms - Vehicle for distributing protocol/application ownership TrustWallet (TWT), SafePal (SFP), TokenPocket (TPT), XDEFI Wallet (XDEFI), Klever (KLV) Ex: 🚚 Logistics/Supply chain 🚛 One of the most intuitive applications of blockchain technology relates to its properties of transparency and auditability. The ability to prove product provenance and trace its tracks from origination to end consumer without having to worry about any of the potential liabilities relating to malicious parties in the supply chain manipulating the product is a tremendous natural benefit to all businesses. Application of crypto: Very Weak Application of blockchain: - timestamping (TRAC), TE-Foods (TONE) Ex: Origin Trail 🤳 Social Media 🤳 Platforms that provide engaging interfaces for communities to build and users to connect with one another. Savagely competitive sector. Thus far, all of the attempts in this niche have been failures, primarily due to easily manipulable incentive designs and not being able to reach inflection points in adoption. Whenever a platform’s only differentiator is the presence of an incentive, the odds are that platform will never reach mass adoption. Mercenary actors would come to platforms such as Steemit and manipulate their systems via astroturfing/Sybil attacks and extrapolate all of the value. Once all of the rewards are gone, those early users that joined just for the rewards leave and new users don't want to go somewhere where there are no users. Whenever a platform's only differentiator is the presence of an incentive, odds are that platform will never reach mass adoption. The trickiest part of building social platforms from scratch is the fact that this sector is dependent on an adoption flywheel. Users will go wherever their friends already are. Bootstrapping a new social media platform would mean having to compete with existing platforms and take away their user market share; this requires strong enough drivers for user behavioral adaptions (having to get familiarized with new platforms) and users will typically not want to leave behind the reputations they have already spent time building in order to start all over again. Application of crypto: Weak - access to platform (pay/hold for use) - mechanism to secure identity (staking) - rewards for creator/audience engagement SocialEX, DESO, GM.xyz, Torum Ex: 💹 Prediction Markets 💹 Prediction markets allow for the creation of markets around arbitrary, non-financial objects of social interest. From outcomes on new regulations to environmental turnovers to the results of sporting events, prediction markets are exactly what they sound like, predictions. Anything that can be predicted can have a market created. Will Manchester United win this year? Will they place in top 10? Will RFK jr become the next president? Will Beyonce release a new Album? Will Eminem find a new girlfriend? Literally, anything the mind can conceive and society can measure can be transformed into a market. I am a huge fan of this sector and believe that this form of the market has simply yet to be properly understood by the general public or perhaps might have just not had enough proper innovation due to potential regulator hurdles. Application of crypto: Moderate - DAO ownership/membership - Asset for placing wagers - Reward for payouts Augur (REP), Prosper (PROS), Numeraire (NMR) Ex: 🔐 Insurance 🔐 A very underappreciated industry sector with massive potential, yet it has been hardly addressed by the crypto industry. The main reason this sector lags behind in terms of adoption/innovation is that implementing insurance in crypto gets tricky when the elements of decentralization and pseudonymity invite dis-honest, malicious actors looking to subvert the system. Users can get creative in orchestrating systems of failure just to collect potentially outsized insurance claims. That said, the size of the surface area of what insurance can be used for in crypto is MASSIVE. From smart contract failures to Oracle misbehavior and even exotic uses such as hedging yield, the raw amount of demand vectors for decentralized insurance products are insane. Highly recommend this area for startups looking to enter and provide genuine value with solutions to burning problems. Application of crypto: Strong - tools for DAO membership - Pool of assets to balance out potential claims - backstop mechanism to offset funds lost in hacks InsureDEFI (SURE), Nexus Mutual (NXM), Etherisc (DIP), UnoRe (UNO) Ex: 📺 Media/Entertainment 🎥 Primarily CDN (content delivery networks) the media sector within the digital economy is among the few that remains relatively quiet even during moments of peak euphoria in bull markets. From music to visual entertainment to active engagement, the Media/Entertainment sector exists with heavy overlap with the gaming and social media sectors. I would pose that this is a general pseudo-category similar to what DEFI is. The main distinction for quality projects in Media would depend on the nature of their product designs; building a CDN is high value with strong arguments for the presence of a toke, meanwhile building applications that merely use CDNs are more abstract and likely should not have their own digital assets. Application of crypto: Moderate - Depends on exact application - Reward for use - Incentive for node operators to become relayers/providers Theta ( ), LivePeer ( ), LBRY ( ) Ex: THETA LPT LBRY 📦 Storage 📦 The storage sector of the crypto economy has only begun to gain traction. One of the potentially limitless sectors in terms of size, as humanity continues to exponentially grow its digital footprint, the demand for storage will only continue to grow in tandem. Application of crypto: Moderate - Incentive for node operators to dedicate storage space on their hardware FileCoin (FIL), Arweave ( ), Storj (STORJ), SiaCoin (SC) Ex: AR 🌳 REFI 🌴 Regenerative Finance. A somewhat strange morphology of DEFI regarding a class of financial products that serve as a vehicle to provide environmental benefits as a byproduct of its operations. Driven by a model of doing good for the environment, REFI focuses on creating a “sustainable” financial system that takes into account its impact on ecological aspects of social life and looks to address climate change. Application of crypto: Moderate - Incentives for carbon emission controls Application of blockchain: - Record Keeping - Auditing , Toucan Ex: KlimaDAO 🔎 Analytics 🔍 Providers of information about the industry. Analytics tools are the backbone of organized data; every grade of market participant, from the most Degen retail investor to sophisticated high-frequency trading firms all rely on some kind of empirical and statistical data to help them drive their decision-making. By the nature of the products themselves, analytics contribute to basically all other sectors. Application of crypto: Weak - DAO Acces , , Ex: DexTools DexCheck Nansen We have just covered 18 sectors of the crypto economy; roughly half of the total ~36–40 that exist. Categories that have not been included in the list are: Gambling, Art, AI, Memes, DAOs, Health, Launchpads/incubators, Real Estate, RWA, lending/borrowing, derivatives, energy, IOT, AR/VR, and a few others. I hope this information can serve you well in understanding just how nuanced and broad the landscape of the digital economy really is. Live long & prosper 🥂 Also published here.

Exploring the World of Crypto: 18 Key Categories of the Digital Economy

is a blockchain platform that seeks to bring scalability and security. Its mainnet runs Ethereum applications, allowing users experience a two-second transaction finality. $ONE is its native token. Harmony has been fronted as the go-to platform for collectibles, assets, governance, and identity. It also comes with secure bridges that make it easy to process cross-chain asset transfers with Binance, Ethereum, and several other chains. Harmony Harmony supports both promising and existing projects from various startups. Products that fall under the following categories can apply for : Harmony Ecosystem Fund/Grants . A project running on the Ethereum main net, a project running on xDAI/ Polygon, or a full prototype on Harmony testnet. Those that have a working product . Those who intend to convert 10,000+ users to the blockchain, are coding a demo in the next six weeks, and want to recruit developers to build. Those that have a promising idea . Coders of mobile/web/backends, those that enjoy drawing/making videos/writing, and those that enjoy giving product feedback. Those that want to learn and help Harmony approved 21 proposals to be part of its $300M Ecosystem Fund in January 2022. Let us go through each project based on various categories: DeFi Ethereum Push Notification Service (EPNS) (@epnsproject) EPNS is a decentralized Web 3 protocol for blockchain-based communication and for notifications that are platform-independent, chain agnostic, and incentivized. This protocol allows any dApp, backend, or smart contract to send off-chain or on-chain notifications tied to wallet addresses. AnChain.AI (@anchainai) AnChain is known as the “Guardian of the Digital Asset Class.” Its protocol was designed from scratch to become the leading smart contract analytics and data platform. The protocol has different features such as machine learning-based risk profiling and wallet behavior, AI-powered auto-tracing, and smart contract auditing. Perpetual Protocol (@perpprotocol) Perpetual Protocol is a platform that lets users trade a wide range of assets. With this DEX, users can trade futures to decide to go long or short on xDai and Ethereum with up to 10x leverage. Trading is non-custodial, which means that traders retain possession of their assets. Unite Finance (@ finance_unite) Unite Finance is the first algorithmic stablecoin to be created on the Harmony Mainnet. It is pegged at 1 $ONE via seigniorage. Various underlying mechanisms ensure a peg of ONE:UNITE is achieved. Once this is achieved, it is maintained, and then $UNITE mirrored as a liquid asset to $ONE. Openfabric AI (@openfabricai) Openfabric AI is a decentralized AI platform. Through it, data providers, AI innovators, infrastructure providers, and businesses will collaborate and facilitate the creation and use of new intelligent services and algorithms. DEXSWAP Project This AMM is a decentralized protocol optimizer for various exchanges. DexSwap has many goals, including reshaping the DeFi landscape by reducing entry barriers, offering lower fees on the Harmony network, and offering multiple pools dedicated to the Harmony Protocol ecosystem. ScaleSwap (@Scaleswapio) ScaleSwap claims to be the ‘world’s first truly fair IDO launchpad.’ The protocol provides early access to investment opportunities previously reserved to a select few. Users can access the most exclusive tokens before anyone else and make the blockchain a better space. Payments Allbridge (@Allbridge_io) Allbridge is a secure, fast, and affordable way to transfer assets across various blockchains. Users can move liquidity between non-EVM (Terra, Solana), EVM (Ethereum, BSC, Polygon), and L2 blockchains. Abracadabra.Money (@MIM_Spell) Abracadabra is a protocol that enables users to provide collateral in the form of various interest-bearing crypto assets such as yvUSDC, yvUSDT, XSUSHI, and yvYFI. Users can then borrow Magic Internet Money ($MIM), a stable coin that you can swap for any traditional stable coin. Klever (@Klever_io) Klever is a crypto wallet ecosystem that serves over 2.5 million users globally. There are more than 500,000 monthly active users on the Klever App, Klever OS, and Klever Swap from over 190 countries, and it is available in 30 different languages. Trustee_Wallet (@trustee_wallet) Trustee Wallet is an anonymous, multi-currency wallet. It allows users to send and receive virtual assets with their MasterCard/VISA cards. Users don’t go through AML/KYC and don’t incur transaction fees; they only pay miners’ fees. Gaming CyberGothica (@cyber_gothica) CyberGothica is an upcoming play-to-earn MMORPG game based on the Solana blockchain. Those who hold its NFT can participate in various activities such as the arena, tournaments, or try to bet on PvP matches. Warriors in this game are displayed on a special leaderboard, and the better you play, the more valuable these characters become. Freyala (@freyalacrypto) Freyala is a low-cost and fast token created on the Harmony blockchain. $XYA is an HRC-20 token centered around integrating cryptocurrency in decentralized applications and gamified NFTs. The whole idea behind the project is to build a user-friendly means of utilizing crypto. Tower of Babel Tower of Babel is a decentralized marketing gamified platform. It comprises a network of mirror sites and a smart contract that makes it easy to build a single building, labeled the Tower of Babel. NFT DeFimons (@thedefimons) DeFimons is a play-to-earn MMORPG with a marketplace and a DEX that will launch on Harmony Protocol. Yokorobi, the game’s first town, has already been deployed. KangaFinance (@kangafinance) KangaFinance is a lending protocol, a DEX, NFT marketplace, and a yield farming engine. StoreyTheApp (@storeytheapp) This platform is a social network for fashion. The app seeks to make second-hand fashion inventory transparent and circular. The platform also has a Storey Token & NFT digitization. NiftyRow (@niftyrow) NiftyRow is an NFT marketplace for African arts. The marketplace supports both visual & audio arts, including contemporary digital and fine arts. BlockPerksNFT (@blockperksnft) BlockPerksNFT is a unique marketplace with various features such as branded/personalized social tokens, token gated communities, exclusive NFT drops, and metaverse applications. SlothFi (@slothfi) SlothFi is a protocol that seeks to bring an entire ecosystem of dApps to Harmony Blockchain. These apps include the $SLOTH token, Lazybones app, and Avocado NFT Marketplace to find rising projects. Envelop Project (@envelop_project) Envelop Project is a flexible cross-chain toolset that can give any NFT new functionality, comes with an anti-fraud system, and protects it from devaluation. Wrapping Up Since Harmony was founded in 2018, it has supported different projects on various fronts. With these approved proposals in 2022, we expect to see a diverse range of blockchain products that will advance this space. We can only wait and see how these products will compete with others from various ecosystem funds. Also Published Here

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