Blockchain is one of those technologies which is truly revolutionizing the world in terms of how big businesses and organizations conduct their affairs. Even though Blockchain was introduced in the market with the introduction of cryptocurrencies such as Bitcoin, Ethereum etc. and for the longest part, people used to associate Blockchain with cryptocurrencies only. But gradually this position is shifting as Blockchain has turned out to be a major cause of disruption for multiple industries around the world.
The year 2021 denotes an era for the maturity of blockchain-centric systems and has attracted a lot of institutional investments all over the world. Just this year itself, we have seen how credit card companies partnered up with blockchain companies in order to give out rewards in the form of Bitcoins. Back in the month of January, Visa was seen partnering with BlockFi and later in the month of April, Mastercard partnered up with Gemini, which is a famous digital currency exchange.
This article discusses 6 of the top blockchain companies that have contributed to the growth of blockchain as a technology and adoption of the technology in terms of diversified industries, helped increase the professionalism and maturity of the blockchain industry.
Coinbase- Crypto Exchange
We are all familiar with the San Francisco-based crypto exchange company, Coinbase, who went public on the NASDAQ Exchange through a direct straight listing. What is remarkable about this event, is that this is regarded as the first instance when a crypto project was listed on a stock exchange. Moreover, experts also pointed out that this listing serves as a clear example of how important the technology of blockchain is and how deliberate they are in their attempts to stay significant and relevant in the years to come.
The company was established in the year 2012 by an individual named Brian Armstrong, a former employee at Airbnb and a trader at Goldman Sachs named Fred Ehrsam. Coinbase’s total estimated revenue by the first quarter of 2021 was $1.8 billion catering to more than 56 million crypto users.
Chorus One – Staking Infrastructure
Chorus One is a company that offers staking and validation services for several proof-of-stake blockchain networks to users across the world. However, they are now focussing on developing various blockchain platforms that would help their users in different ways. For instance, Chorus One received funding from the Interchain Foundation and the Celo Foundation to develop the foundation for the Inter-blockchain Communication or IBC modules between the networks built atop the Cosmos SDK and the Celo blockchain.
They have established themselves as one of the leading validating and staking service providers in the blockchain space. They are the ones who actually proved that it is possible to operate a feasible staking business. The company has been entrusted with more than $1.6 billion worth of assets by its users, which is an impressive feat.
Synthetic – Trading Synthetic Assets
Synthetix offers a platform where developers are allowed to issue assets that are synthetic on the popular Ethereum blockchain. This is one of the most compelling of concepts since it allows one to transform any possible asset into an asset which is tradable. This is done by removing certain potential restrictions.
Synthetix has created many opportunities for traders who were otherwise looking for other financial instruments with potential. In short, Synthetic makes it possible for non blockchain base assets to gain an exposure in the entire crypto ecosystem.
Chainlink – the decentralized network on Oracle
Chainlink basically created the entire concept of oracles that help smart contracts gain access to off chain data, in a deterministic way. By offering this service to many Decentralized Finance or DeFi projects has helped Chainlink in establishing itself as a significant player in the blockchain ecosystem. Even Synthetix, which was mentioned before, uses Chainlink’s decentralized oracle technology.
Gemini – Bitcoin Custodian and Exchange
In 2014, the famous Winklevoss twins helped establish Gemini, which is basically a crypto exchange. It is actually a private exchange which also offers custodian services. The twin brothers’ vision was to integrate both forms of money, the cryptocurrencies and fiat money. The way in which they do this is by providing trading pairs where a cryptocurrency such as Bitcoin is mapped against a traditional fiat currency like the US Dollar. Gemini was the first ever company to offer custodian services to users.
Circle – Stablecoin
Circle introduced its brand as a payment infrastructure for businesses on the internet and has been active in the crypto space since the year 2013. They made the establishment of the famous Stablecoin USDC possible in reality. The value of a USDC Stablecoin is pegged at one US dollar, which in turn means that Circle holds one dollar as a collateral for every single USDC stablecoin they issue. Circle is undoubtedly the most widely adopted stablecoin apart from Tether.