With each passing year, the cryptocurrency landscape undergoes remarkable transformations, pushing the boundaries of what was once deemed possible. In this exciting journey, new projects emerge, bringing forth ingenious concepts, advanced functionalities, and novel approaches to decentralization.
In this article, we embark on an adventure to uncover the most progressive digital currencies that are poised to redefine the financial landscape in 2023. From revolutionary developments in artificial intelligence to new developments on centralized exchanges, from decentralized finance to environmental-friendly Bitcoin mining, these crypto projects are pioneering the way forward, challenging traditional systems, and paving the path for a more inclusive and transparent financial future.
As we analyze each of these innovative cryptocurrencies, we will shed light on their underlying technologies, their real-world applications, and the impact they have had on the industry. We will examine how these projects are pushing boundaries, tackling inherent challenges, and addressing key concerns to foster mass adoption and promote sustainable growth.
The top five most innovative crypto companies in 2023
The cryptocurrency space is an ever-evolving industry where groundbreaking technologies and disruptive ideas are revolutionizing the way we perceive and interact with money. In the past six months, the industry has witnessed massive progress in development amidst the bear market and SEC regulatory concerns. In this section, we dive deep into the realm of digital assets to present you with an exclusive glimpse into the top five most innovative cryptocurrencies of 2023.
1. Binance
Despite its recent troubles with the U.S. Securities and Exchange Commission (SEC), Binance, the world’s largest cryptocurrency exchange, has been one of the leading firms driving innovation and development in the crypto space. Over the past six or so months, Binance has introduced several innovations and developments in its ecosystem. Let’s take a closer look at some of the innovations launched by the exchange.
Binance tax tool has to be the biggest innovation by Binance so far in 2023. The Binance tax tool is an easy and user-friendly tax assistant that estimates the total taxes you need to pay over a period of time. The tool launched in Canada and France with plans to launch in other jurisdictions soon. Additionally, Binance launched ‘Sensei’, an AI-driven learning tool, integrated into Binance Academy, that allows users to freely educate themselves on blockchain, Web3 and crypto.
Image: Binance Blog
In a first-of-its-kind move, Binance also launched its NFT Loans service that allows users to borrow/lend crypto loans using their blue chip NFTs as collateral. Currently, users can borrow from the platform using their Bored Ape Yacht Club (BAYC), Mutant Ape Yacht Club (MAYC), Doodles and Azuki NFTs. Finally, Binance has also extended its support for Bitcoin ordinals NFTs and introduced a 10-week summer internship program.
2. StormGain DEX
The latter half of 2023 (and possibly 2024) is shaping up to be a tough time for centralized crypto exchanges if the latest SEC charges on Binance and Coinbase are to go by. The recent regulatory crackdown on centralized crypto exchanges is convincing crypto users to embrace decentralized exchanges, and we could see an exodus of capital from CEXs to DEXs later in the year.
One such solution is StormGain, a centralized and decentralized exchange that allows users to trade directly from their digital wallet. The CEX offers more features than StormGain DEX, which only offers crypto derivatives trading but with 500x leverage.
Image: StormGain DEX
Moreover, StormGain offers the advantage of not requiring a deposit to start trading as users only need to connect their wallet, approve a blockchain transaction for the trade amount, and the trade is open. This allows the user to have complete control of his funds at all times, and in case the exchange is down, users can still access their funds – no more “locked withdrawals’.
Finally, StormGain CEX also added its order books to the platform allowing users to view current market orders. Currently, the order book is provided by institutional market makers but plans are underway to allow users to view their liquidity.
3. World Mobile
Image: World Mobile
World Mobile, a blockchain-based global mobile network, is our third pick for companies advancing the blockchain space in 2023. According to Statista, only 66% of the world is connected with internet services and the number drops to 36% when it comes to the least developed countries. World Mobile’s goal is to enable everyone to be connected via a decentralized platform, enhancing economic freedom and dignity across developing countries.
In 2023, World Mobile successfully launched its trials in Kenya, Mozambique, and Nigeria, allowing local business operators in unconnected regions to operate affordable nodes, bring their communities online, and share rewards as a result. The protocol enters our list as one of the blockchain services targeted at decentralizing traditional systems that excluded many developing countries.
As the year wears on, World Mobile aims at providing affordable and reliable internet access to both rural and underserved areas worldwide.
4. Fetch.ai
Could the list be complete without any artificial intelligence (AI) based company? I think not. Since the turn of the year, AI has been the talk of the town with constant rumbles and debates on the future of AI-driven technology. Fetch.ai, a protocol allowing users to build, deploy and connect ‘smart agents’ to automate Web3 systems, is our pick.
Launched in 2021, the platform offers developer tools to advance business models using artificial intelligence. Smart agents can be trained to learn, predict and act to undertake meaningful tasks in the real world. Using these smart agents, users can develop micro automation to help them in their everyday tasks.
As the world moves towards AI-driven technology, blockchains will need to adapt hence the need for platforms such as Fetch.ai, which provide easy-to-use AI-blockchain development tools. Earlier in the year, Fetch.ai partnered with electronics giant Bosch to launch the Fetch.ai Foundation. The foundation will research and develop blockchain and AI-driven technologies for real-world use cases in different industries.
5. EZ Blockchain
The final pick for our most innovative companies during the 2023 bear market hails from the green Bitcoin mining industry, EZ Blockchain. As the next Bitcoin halving approaches in 2024, Bitcoin mining companies focusing on using green energy could shape the industry. According to research by ESG analyst and investor Daniel Batten, over half of Bitcoin miners currently use renewable energy sources to power their mining rigs.
Nonetheless, 43% of the miners still use energy from coal and oil, and while this marks a remarkable development, a lot still needs to be done. The latest report on carbon emissions from BTC mining shows over 22 million tonnes of CO2 are released from miners’ activities.
One of the leading green Bitcoin mining companies is U.S.-based EZ Blockchain, a Bitcoin mining company that aims to tackle global waste energy issues using crypto mining. EZ blockchain is an energy-oriented company that connects the Bitcoin mining space with the energy industry to optimize energy use and solve the crisis of energy waste.
Other leading companies in the green Bitcoin mining space to focus on in 2023 include Riot Blockchain, Marathon Digital Holdings, Bitfarms, Kenyan-based Gridless, and Genesis Mining.
Final words
The world of cryptocurrencies continues to push the boundaries of innovation, and the top five most innovative cryptocurrencies of 2023 have showcased remarkable advancements. These digital assets have introduced groundbreaking technologies, challenged traditional systems, and paved the way for a more inclusive and transparent financial future. As the landscape evolves, we eagerly anticipate the next wave of innovation that will further reshape how we perceive and interact with money.