The launch of Bitcoin (BTC) not just created a cryptocurrency but also put a spotlight on blockchain technology. kickstarting an entirely new industry comprised of companies developing applications underpinned by blockchain. In the last couple of years, hundreds of blockchain startups have been launched. Let’s take a look at some of the most innovative of them.
With Sharding (the process of dividing the network into smaller networks that can handle multiple transactions simultaneously) being its core idea, Zilliqa aims to develop a blockchain platform that allows scalability and processes more transactions than the average blockchain. Using this process, Ziliqa can divide 1,000 nodes of a network into five smaller networks, or shards, with 200 nodes each. Instead of asking all 1,000 nodes to process a transaction, it will assign it just to one shard.
Greeneumpromotes renewable energy and its goal is to advance the production and peer-to-peer trading of green energy.The innovative startup records the green energy that a household or a utility produces and issues Greeneum Carbon Credits and Green Certificates.Fully automated with a GreenPET setup, the process also records and validates energy production on the blockchain. The Carbon Credits and Green Certificates trade on the open market for either the native cryptocurrency GREEN, or any other cryptocurrency or fiat. The startup also has a marketplace wherein people can buy smart devices for energy usage and installations that produce renewable energy.
Authenteq is one of the most interesting startup from the thriving startup community of Iceland which uses blockchain and artificial intelligence (AI) for facial recognition. AI facial recognition compares a user with their photo-ID and has a multi-step verification process that prevents using counterfeit identification as well.Authenteq has accepted over 3,500 documents including passports, ID Cards, and driver’s licenses and performed 150,000 verifications. Around the world, it connects to 10,000 anti-money-laundering sources in 190 countries.
Keep watching this space for more.