- Several projects are in line to be released in 2023 to further improve the use cases of the crypto industry.
- All projects come with their risks and rewards and must be thoroughly researched before investing.
Recent years have increased crypto awareness among the masses, and it is no longer limited to early investors, crypto enthusiasts, or tech-savvy individuals. The crypto industry is thriving with projects aiming to solve existing issues of scalability and security. Moreover, they are now looking to resolve real-life problems, which would attract more users and broaden the possibilities of blockchain. Here are some crypto projects to watch out for in 2023, all with unique goals.
Arkham Intelligence
Blockchains were designed to be anonymous, achieved by providing a string of characters as the username to the users. People can hide behind these strings, and every day billions of dollars move through the virtual pipes of cryptocurrencies. Although privacy is inherent to blockchain, it also brings fairness and equality in markets. People should know who is moving large funds and unmask any potential malicious user hiding behind those strings.The Arkham Intelligence platform allows users to inspect all those strings, track fund movements, and be transparent to both sides of the transaction. It aims to provide features that will make cryptocurrencies familiar to traditional finance.
BTQ
The modern connected world relies on Encryption, ensuring that bank payments are secure, and emails and chats are read only by the desired parties. Blockchains depend on the Elliptic Curve Digital Signature Algorithm (ECDSA) for their cryptographic algorithm to maintain a trustless environment and prevent double-spending attacks. However, quantum computers have the potential to break several encryption protocols, and with thousands of quantum computing patents granted each year, this may pose potential threats.BTQ, a quantum computing startup, is focused on blockchains and aims to advance them by creating quantum-proof standards.
Immutable Passport
The gaming industry is shifting gears and moving to Web3 and multiverse to provide more experiences to gamers through the use of blockchain and NFTs. However, what is supposed to be fun is burdened by an irritating starting process with users first setting up a crypto wallet, remembering seed phrases, and adding funds. All this process may be repeated several times for different games, further annoying the gamers.
Immutable Labs is all set to launch its Immutable Passport, which will serve as a single entry point to the whole Web3, resembling more or less what Google ID is for Web2 now. It is also working on interoperability within several games and has recently partnered with Polygon to fulfill its commitment.
Rainbow Wallet
The crypto industry needs more user-friendly apps and websites to facilitate non-technical users. When users today have become familiar with powerful and fascinating apps for Web2 users, they feel horrible when presented with a crypto app with the UI from the 1990s and demanding code lines to execute functions. Crypto wallets are an integral part of the Web3 economy and the first step for any user.Rainbow, a design-first approach-based wallet, is focused on making the onboarding process super easy for people. It also works to engage mobile users which were left out by Metamask, a popular but browser-based wallet.
Nostr
People love their social media identity presently and spend hours making it more appealing for themselves and others. Social media gave people a voice and celebrities to be in direct touch with their fans and build communities. However, the increased cases of censorship and account bans have shed light on the underlying authority of the company and its monopoly. Twitter banned several accounts that promoted other social media or posted censored content.Nostr is making a decentralised social media reality with Brantle being its first client. The client is any software that lets users access the technology, and later Damus, the iOS client, was also released.
Conclusion
As more crypto projects launch in 2023, people should also be aware of possible scams. All these projects initially attract large investor funds and generate hype but turn out to be hoaxes and rug-pull scams. However, some projects are seriously developed and launched to cause a change in this space.
