Discover these innovative blockchain ideas in 2023

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Despite the rather rough past year for cryptocurrencies, the rate of innovation within the blockchain industry shows no signs of slowing down. Companies and startups continue to explore the benefits of the new technology across multiple sectors, and market growth is projected to reach 1.43 billion by 2030 with an annual growth rate of nearly 86% (Source: FinanceYahoo).

In this article, we will take a brief look at some of the most promising new projects to watch for in 2023, as well as some returning players with some new improvements that will potentially open a new page for the market. Buckle up!

DeFi

DeFi (Decentralized Finance) is definitely one of the most promising concepts within the crypto multiverse in recent years. It introduced several innovative solutions such as decentralized exchanges (DEX), yield farming, lending protocols and others that greatly expanded the use of cryptocurrencies from an economic point of view.

One promising idea is an open, decentralized and public blockchain infrastructure executed by a secure network of permissionless validators using Proof-of-Stake (PoS) consensus. It focuses on accelerating DeFi applications across multiple chains, essentially making the cryptocurrency ecosystem more interconnected – a concept that paves the way for compatibility and adoption in the space. These concepts have been around for a while, but have recently reached a significant milestone – the introduction of a fully decentralized, DEX-compatible, Time Weighted Average Price (TWAP) protocol that can integrate seamlessly with existing EVM DEXs.

The goal of TWAP is to improve conditions in the DeFi ecosystem by allowing orders to be executed more efficiently. This could potentially bring the entire DeFi market to a new level, making this idea one of the trends to watch closely in 2023.

Cryptoanalysis

There are many innovative ideas in cryptanalysis. This field is focused on creating new tools for cryptocurrency trading. They offer several features including trading signals, predictions and social analytics to help traders make informed decisions. Especially in the turbulent times and given the inherent volatility of cryptocurrency markets, this field enjoys significant investor interest due to the use case almost all crypto investors can tap into.

Projects in this field have already raised more than millions of dollars at the time of writing. The significant initial traction it has gained among investors may be proof of the future potential of cryptoanalysis, making it one of the ideas to pay attention to in the coming year.

New ideas for cryptocurrency

Both existing and new cryptocurrencies have a lot in store for 2023. There are definitely a few projects you need to follow due to their huge potential for the cryptocurrency market. After some recent changes among established cryptocurrencies that transformed blockchain consensus to PoS (Proof of Stake) from PoW (Proof of Work) – many more changes to the ecosystem are planned for the coming year that will introduce many improvements in various segments. Major players in the market recently revealed a new development track focused on solving the issues surrounding censorship of transactions and an exploitative bot-driven trading practice known as maximum extractable value (MEV).

Solving key issues related to leading blockchain solutions is one of the most important steps towards widespread adoption of cryptocurrencies. It shows that the industry can work to offer solutions through technical improvements to even the most pressing problems, which essentially drives innovation in the entire sector forward.

Sustainable development

Many innovative projects focus on the environmental sector and more specifically on sustainable development, which has fallen out of the top charts in the crypto industry recently. Yet, with the current environmental challenges we face and the missed environmental targets set by governments and organizations such as the UN, the importance of ecologically sustainable solutions has never been greater.

Companies within sustainable development create ecosystems for brands, companies and individuals who want to reduce their negative footprint on the environment. The projects introduce carbon offset tokens, a concept that has gained increased support from environmental organizations and governments around the world and is increasingly seen as one of the future ways to track environmental impact and reward efficient behavior. Stakeholders are able to buy, sell or withdraw carbon credits while avoiding double counting and fraud by using blockchain technology and its immutability, transparency and tamper-proof nature.

Qoomed

Another new entrant to the blockchain market focusing on an emerging sector with significant upside potential is Qoomed. The project creates an ecosystem that introduces several blockchain concepts to the CBD industry, such as a B2B and B2C marketplace for CBD products, a unique token with various use cases, as well as an NFT platform.

The marketplace connects both businesses and private sellers with buyers of CBD products directly. Furthermore, Qoomed offers a variety of tools in the marketplaces such as payment integration solutions and advanced dashboards that allow companies to effectively manage their operations and grow their business. In addition, the marketplace introduces several solutions for a variety of stakeholders such as dropshippers that enable them to set up their business and gain exposure to thousands of potential customers easily and in a short period of time.

Qoomed also introduces the first art-focused NFT platform created specifically for the CBD sector. Users can buy, sell and create their own unique NFTs with the QOOMED token. The platform charges royalty fees that are openly disclosed for each specific product. Artists also gain additional exposure through their own subpages on the platform that display all of their submitted NFTs.

Qoomed has already launched both their blockchain-based marketplace for CBD and cannabis products, as well as the first NFT platform for the CBD industry. Several unique artworks have already been listed on the platform – you can check them out here.