Hackernoon logoNEO, MATIC and now FLETA Tokens: What do they have in common? by@daniejjimenez

NEO, MATIC and now FLETA Tokens: What do they have in common?

image
Daniel Jimenez Hacker Noon profile picture

@daniejjimenezDaniel Jimenez

Blockchain technology lover

The cryptocurrency ecosystem is very broad, and there are many blockchain projects that have not managed to float, despite having interesting proposals. The reasons are diverse: lack of connection with its audience, little volume of negotiation in the market of its native currency that denotes little interest, successful proposals for alliances or marketing, among others.

However, the rebranding or rebranding of a project can sometimes work, as other times the final sentence means. Although this strategy is nothing new or exclusive to the crypto market, some blockchain platforms are gradually considering it as a viable alternative to reach a wider audience that finally allows them to position themselves within the competitive crypto market.

Let's review some blockchain platforms that have successfully applied this scheme and how their performance has been after applying the 'brand' change.

NEO (Antshares)

On June 22, 2017, the so-called “Ethereum of China”, Antshares announced the change of its brand towards the now known “NEO”, also establishing a series of alliances and a new roadmap for the development of its blockchain project in China. , in order to lead the development of the ecosystem in the Asian nation.

image

The process was completed on August 8 of that same year, thus making NEO Blockchain the first original public chain project in China, also updating its nodes, technical documents, social networks, official site and exchange name around the world.

By then, NEO was focused on updating itself as a smart economy platform based on the integration of digital assets, digital identity, and smart contracts.

Today, NEO is a blockchain platform of reference within the business world with a presence in all corners of the planet, in addition to offering a range of solutions that include the latest developments in the crypto ecosystem within the decentralized finance, storage and identity sector.

image

Currently, NEO has grown both in community and users, as well as in use cases, while in the general ranking of cryptocurrencies it has managed to position itself as one of the blockchain projects within the top 30 of the market, with a market capitalization of USD 3.4 billion. and a trading price of its native token of $ 49.02 (+ 0.65%).

FLETA (FLETA)

FLETA Blockchain is a platform created by the South Korean Sendsquare team, which aims to offer infrastructure that can be applied to real-world business models.

With its own basic blockchain technologies that include its own consensus algorithm (Proof of Formulation, PoF) and a gateway system that supports the conversion of assets between various blockchains, the team has decided since June 3 to do a rebranding with a new revamped logo that is in tune with the new boom they want to drive within the ecosystem.

image

FLETA has updated its roadmap, and has established some milestones that, if met in a timely manner, promise to position the platform and its mainnet as a benchmark within the blockchain space both in Asia and globally.

Its technological characteristics are excellent and the fundamental pillar to increase its presence in the blockchain world: high speeds in real and non-simulated environments of up to 14,000 TPS, unlimited scalability, high decentralization, interoperability with other chains, very low-cost rates, among others.

For now, FLETA has completed the first phase of its new brand change based on an improved website, logo, a new smart contract for its FLETA token and updates and improvements to its own wallet (FLETA Wallet).

image

FLETA is also targeting the decentralized finance scheme and announced together with the ‘rebranding’ the launch of ‘Fleta Finance’, a multiplatform DeFi ecosystem that will allow the integration of additional mainnets to its ecosystem in the best style of Polkadot or Kira Network.

Lastly, the team has launched Dev Portal, an enterprise solution tailored for users and businesses to build their own independent chain using FLETA Mainnet.

Although it is very premature to elucidate a definitive result on its success, there are fundamentals that could weigh in a new boost for the platform, given its experience in managing clinical data with its blockchain technology successfully in times of pandemic in hospitals in Korea. South.

The native token FLETA currently trades on the market at a spot price of $ 0.01321 (-6.67%), and is in position 758 of the general market ranking with a diluted MarketCap of USD 26.3 million.

Polygon (Matic Network)

At the beginning of February of this year, the Matic Network team announced the change of its name to Polygon, as part of a strategic change to focus on a multi-chain system similar to Polkadot but on the Ethereum blockchain.

image

Matic Network was originally designed as a layer 2 system on top of Ethereum to help scale the public network, especially due to the high congestion and transaction fee issues plaguing millions of users around the world.

Now under Polygon's new approach, the native Indian team hopes to help Ethereum fight rival platforms like Polkadot, creating a multi-chain architecture that further enables support for native ETH solutions like Optimistic Rollups, zkRollups and Validium.

The rebrand also implies a strategic change to enhance the use cases in Polygon, with a focus designed to help Ethereum users while the EIP-1559 and Ethereum 2.0 proposals arrive.

image

In that sense, the project is looking with this new rebrand, to improve Ethereum's capabilities by being a hub for other blockchains or a network of blockchains to find scaling solutions on demand.

Like FLETA, Polygon will continue to use the MATIC token to secure and incentivize user participation in its ecosystem. Anchored around Ethereum, Polygon's L2 aggregator will put instant scaling options in the hands of developers.

The Polygon team is backed by Coinbase and Binance, in addition to having as active adviser members renowned personalities within the Ethereum development community: Ryan Sean Adams, Anthony Sassano and Hudson Jameson, among others.

Polygon is currently concentrating on developing an SDK similar to Polkadot's Substrate to build standalone chains on the Ethereum mainnet and collaborate with several leading-edge Layer 2 (L2) solution providers on top of Ethereum.

The native token MATIC has been able to take advantage of this 'rebranding' very well and has managed to rise in the general ranking of cryptocurrencies to be ranked 15th with a MarketCap of almost ten billion dollars, after having reached historical highs of almost USD 2 per unit last April.

Tags

Join Hacker Noon

Create your free account to unlock your custom reading experience.