Crypto To Watch In 2024

Crypto To Watch In 2024


As the cryptocurrency landscape evolves, certain projects stand out for their innovative approach and substantial growth potential.

Here are some cryptocurrencies to watch for 2024:

Immutable X (IMX)

Immutable This significant financing underlines the enormous potential of the sector and the interest of investors. Immutable X’s strategic partnership with Polygon, a former competitor, has been a game-changer. Together, they now dominate around 80% of the blockchain gaming market.

“Previously competitors, Polygon and Immutable X now occupy a dominant position and most crypto games are developed within their combined ecosystem,” Baktyary notes.

This partnership has transformed Immutable X into a central hub for blockchain gaming, not just focusing on a single game but facilitating the development of over 200 games.

“They’re not just building a game; “They are becoming the center of games created on blockchain.” This broad approach increases the likelihood of significant success in the gaming sector,” says Baktyary.

Additionally, Immutable X has forged partnerships with major industry players such as Amazon Web Services (AWS) and Ubisoft, and has games available on the Epic Games Store. These collaborations signify the project’s strong business development and its potential for widespread adoption.

Another key feature of Immutable X is its focus on zk-rollup technology, which improves scalability, security, and user experience. This positions Immutable X at the forefront of technological innovation in the crypto space. “They are one of the pioneers in zk technology,” Baktyary adds, “which opens the doors to much more than what the market currently sees.”

Polygon (MATIC/POL)

Polygon, in partnership with Immutable X in gaming, is noted for its broader contributions to blockchain technology. Its widespread adoption of the Chain Development Kit (CDK), more colloquially known as the Polygon stack, demonstrates the robustness and versatility of its technology.

“The adoption of the Big Chain Development Kit marks Polygon’s significant presence in blockchain infrastructure,” says Baktyary.

Polygon’s introduction of Polygon 2.0 adds a multi-layer structure to its protocol, with a notable layer being the participation layer. This layer uses Polygon’s native token and allows validators to earn rewards, including transaction fees, from the chains they validate.

“Polygon (Stake Layer) offers validators potential for additional revenue streams,” Baktyary says.

Additionally, Polygon is a leader in zero-knowledge technology and its zkEVM is now operational. This technology improves privacy and scalability in blockchain transactions, making Polygon a pioneer in this area.

Polygon is also advancing scalability by transitioning its PoS chain to become Validium, including parallelized execution experiments. This move further improves network efficiency.

“Polygon’s transition to becoming Validium shows its commitment to advancing blockchain modularity and Ethereum alignment,” Baktyary says. His advancements in technology and strategic direction highlight Polygon’s role as a pioneer in the blockchain ecosystem.

Optimism (OP)

Optimism (OP) stands out as a major player in the blockchain space, with several key achievements underscoring its importance in the evolving cryptocurrency landscape.

One of Optimism’s key achievements is its success in stack adoption, where it ranks second only to Polygon. In the blockchain world, a “stack” refers to the layered structure of technological solutions and protocols that build on each other to create an end-to-end system. In this context, the Optimism stack refers to its core codebase that is used to help launch other layer 2 blockchains within the Optimism ecosystem.

Baktyary says: “Optimism has the second-highest public stack adoption among Layer 2 stacks, after Polygon, including strong customers like Coinbase, who are committed to maintaining stack integrity.”

This high level of adoption indicates confidence in Optimism’s technology and its potential for broad application and integration across different blockchain platforms.

Another important step for Optimism is its partnership with Coinbase, one of the largest cryptocurrency exchanges. This collaboration, in which Coinbase uses the Optimism stack, is a testament to the security and technological robustness of the project, Baktyary notes, and “is huge from a security perspective.” This relationship reinforces Optimism’s credibility and extends its reach to a broader audience, encouraging greater adoption.

In terms of governance and community engagement, Optimism has made notable progress and received applause from the crypto community. The success of Optimism’s governance model has even been highlighted in a stanford articleindicating a mature and thoughtful approach to engaging the community in decision-making processes.

Baktyary adds that the Optimism team appears to be strongly aligned with the Ethereum ecosystem, and this demonstrates their adherence to the core values ​​of blockchain, which resonates with a significant portion of the market.

Like Polygon and Immutable X, Optimism is also at the forefront of technological innovation with its advancements in zero-knowledge (zk) technology.

“Optimism’s Bedrock update enables support for multiple runtime layer clients and a test system abstraction, allowing a rollup in the OP stack to use a failure or validity testing system,” Baktyary says.

“This update is Optimism’s first step towards adopting zk technology.”


Another project that attracts attention for its pioneering technology is EigenLayer.

The project is bolstered by the prospect of a user reward system, a move Baktyary suggests is aimed at appreciating early adopters.

“EigenLayer does not have a token yet, but its points system and the introduction of projects like EigenDA have led the market to assume that there may be an airdrop in the future,” he says.

The cornerstone of EigenLayer’s innovation is its innovative Actively Validated Services (AVS) technology.

This technology benefits a variety of applications, from data availability layers to Oracle networks, by allowing them to benefit from sets of external validators, thereby reducing the cost of protecting and verifying their networks.

“AVS is a huge new primitive that allows you to export the validator security of a blockchain to a new set of software and use cases,” Baktyary says.

EigenLayer’s ability to export validator security can also help improve ecosystem interoperability. Networks and ecosystems that would have previously been siled would need to start their own pool of validators, typically committing high token incentives to validators while also running the risk of a somewhat centralized pool of validators. Now early-stage networks could simply pull validator security from another network that already has those early-stage blockchain issues resolved.

By addressing critical issues within the Ethereum ecosystem, particularly around staking providers, EigenLayer proposes a solution to provide balance and greater security.

“EigenLayer can help incentivize a limit system for staking providers with a majority participation of validators like Lido; a topic that has been a big topic of debate within the Ethereum ecosystem,” says Baktyary.

Additionally, EigenLayer advancements could advance scaling solutions like Validiums and potentially extend the use of Ethereum validators to secure other blockchains, including Solana and Cosmos. This development represents a leap in blockchain scalability and security, which Baktyary sees as a crucial step for the broader application of Ethereum technology.

“EigenLayer can help enable Validiums with projects like EigenDA and, in theory, can have blockchains like Ethereum, alternative secure layer 1 blockchains, like Solana.” he says.


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