- Berachain: Innovates with Proof-of-Liquidity, boosting liquidity and governance in blockchain networks.
- EigenLayer: Enhances Ethereum efficiency with Layer 2 off-chain data availability and EIGEN token staking.
- Monad: Speed-focused Layer-1 blockchain, achieving 10,000 transactions per second and EVM compatibility.
The crypto market has recently witnessed investors gaining confidence in funding projects that are popular because of funding and being looked upon because of the innovations and efficiency they bring to this industry. Below is the list of 5 altcoin projects that have received the most funding in the year 2024 along with their possible influence on the development of the industry.
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Berachain
Berachain raised $169 million in fundraising using a novel Proof-of-Liquidity (PoL) consensus process. This blockchain is EVM compatible and incorporates validators and projects via an economic architecture that aims to increase liquidity and governance.
Berachain’s technique of aligning network incentives has sparked significant investment, demonstrating its ability to influence the blockchain ecosystem. Berachain intends to use this financing to further develop its technology and boost market adoption.
EigenLayer
EigenLayer has successfully raised $100 million in investment. The project is based on the Ethereum network and enables protocols to use the Ethereum trust network without needing to create their own set of validators.
EigenLayer contributes to cost savings and efficiency gains by providing off-chain data availability for Layer 2. EIGEN tokens are utilized for staking alongside ETH, and the system has secured a total of $18 billion in value to far.
Eclipse
Eclipse’s position as the “fastest Layer-2 Ethereum” helped it raise $50 million. By running the Solana Virtual Machine (SVM) as a rollup on Ethereum, Eclipse provides a scalable and cost-effective solution.
This technique is intended for developers and consumers who deal with Ethereum and Solana smart contracts. Eclipse is intended to bring new advances to the development and use of blockchain applications.
Avail
Avail also secured $70 million in financing. This Web3 infrastructure layer enables a flexible execution layer for scalability and interoperability while minimizing trust.
Avail’s infrastructure meets the growing demand for scalable and interoperable blockchain systems, which support a diverse set of Web3 applications. With this money, Avail will broaden its reach and technological capabilities.
Monad
The Monad project has received $225 million in funding. Monad is a new Layer-1 blockchain that is geared for speed and network connectivity. It can execute 10,000 transactions per second, has one-second block timings, and one-slot finality.
Monad’s interoperability with EVM boosts its appeal, positioning it as a key player in increasing blockchain efficiency and scalability. This technique is supposed to solve the problems of speed and transaction fees, which are common difficulties in many blockchain networks.
Berachain, EigenLayer, Eclipse, Avail, and Monad are poised for a promising future in crypto. With substantial funding and innovative technologies focusing on scalability, interoperability, and efficiency, they’re set to shape the next generation of blockchain applications. Investors’ confidence underscores their potential to drive significant industry advancements, making them pivotal players to watch.
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