Five Polkadot parachains tipped for early adoption

With the first Polkadot parachain auctions coming up in the not-too-distant future on the 11 November, speculation is rampant as to which parachains will win in the first crowd loans which take place on 11 November. 

The parachains that win these first auctions will have a head start in the Polkadot ecosystem, and will likely attract a lot of projects to build on top of them over the following 3 to 6 months. 

One of the most likely to gain one of the first parachain slots is Moonbeam. Its sister project Moonriver has already secured a slot on the Kusama network and has risen to 162 in the CoinGecko ranking, with a market cap of $492 million. 

Moonbeam is predicted to have at least the same level of success, which will make it very hot property. Moonbeam is an EVM compatible blockchain that will make it easy for dApps to build on Polkadot and for them to be able to work with users and assets on other chains. 

Acala is the other parachain that is almost guaranteed a slot if you take into account the high regard and sense of legitimacy it receives from the Polkadot community.  

The Acala platform will provide financial applications such as a trustless staking derivative (liquid DOT), a multi-collateralised stablecoin (aUSD), and an AMM DEX where the tiny fees can be paid in any token. 

Centrifuge is the project that lets anyone tokenise real-world assets. It enables blockchain lending and borrowing, and works with Celo, MakerDao, and Circle in order to do this.  

Many investor funds are backing this project, including the likes of Galaxy Digital and Fenbushi Capital. 

Bit.Country is possibly more of an outsider for the first few parachain slots, but it is a fascinating project. It will enable anyone to build their own metaverse and to then fill it with who they like, whether that be family and friends, a community, or any other group of people. 

Into these communities can be brought the power of tokenisation and NFTs in order to gamify and incentivise them. Play-to-earn is also a possibility that can take community engagement to the next level. 

Phala Network is a privacy blockchain built on Polkadot. It is the first such privacy layer and has two web 3.0 grants to its name. The Phala Network provides a wide range of privacy infrastructure, including on and off-chain storage, network bandwidth, confidential widgets, and other resources. 

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.