Each year, hundreds of blockchains are created, and they are used in different industries like crypto, gaming, real estate, supply chain management, and healthcare.
The blockchain industry is currently valued at $27.84 billion and is projected to grow to $825.93 billion by 2030. Among these blockchains are those with a high user base worth billions and millions of dollars.
What are the top ten blockchains in 2024, and what sets them apart from other blockchains? This article will answer these questions with statistics of what makes this blockchains to be the top 10 blockchains in 2024.
NOTE: These statistics for the top ten blockchains are based on the TVL (Total Value Locked) on the blockchain, a metric used to measure the total value of digital assets.
1. Ethereum
Ethereum, introduced in 2013, is among the oldest and most well-established blockchain platforms. It creates a genuinely decentralized blockchain equivalent to the Bitcoin blockchain network.
The Ethereum blockchain is at the top of the list, with a TVL (Total Value Locked) of $58.1 billion, representing 59% of the overall TVL.
The Ethereum community switched from a proof of work (PoW) consensus process to a proof of stake (PoS), which is more energy efficient.
The Ethereum platform has been widely adopted by technologists who create decentralized apps (dApps) on the Ethereum network.
2. TRON
TRON is a public blockchain that serves as the underlying infrastructure for developers to create smart contracts and decentralized apps, as well as freely publish, own, and store data and information.
TRON, a decentralized blockchain-based operating system with a smart contract functionality, is second on the list with a TVL (Total Value Locked) of $8.5 billion, representing 8.56% of the overall TVL.
Justin Sun developed Tron in March 2014, and the TRON Foundation, a non-profit organization, has governed and supervised it since 2017. It began as an Ethereum-based ERC-20 token before migrating to its network in 2018.
3. Solana
Solana emerges is a high-performance blockchain platform designed for decentralized applications and crypto-currencies, boasting a unique architecture known as the Solana Protocol, which leverages a combination of Proof of History (PoH) and Proof of Stake (PoS) mechanisms to achieve unprecedented scalability and speed while maintaining a secure and decentralized network infrastructure.
Solana has a TVL (Total Value Locked) of $5.45 billion, which represents 5.54% of the overall TVL.
Solana’s architecture is designed for efficiency, resulting in minimal transaction costs even during peak network traffic. This makes it appealing to developers and users alike, particularly in the DeFi arena.
4. BSC (Binance Smart Chain)
Binance Smart Chain (BSC) is a blockchain technology created by cryptocurrency exchange Binance. It seeks to provide a quick and inexpensive alternative to Ethereum for creating decentralized applications and smart contracts.
Binance has a TVL (Total Value Locked) of $4.794 billion, which represents 4.87% of the overall TVL.
BSC has quickly become popular for DeFi projects because of its low transaction costs and speedy confirmation periods. Many major DeFi protocols, including decentralized exchanges and yield farming sites, have started on BSC.
5. Arbitrum
Arbitrum, which Offchain Labs developed, is a scalable Layer 2 blockchain platform that uses Roll-up technology to greatly increase Ethereum’s transaction throughput while retaining high security and decentralization.
Arbitrum is the fifth on the list with a TVL (Total Value Locked) of $3.191 billion, representing 3.24% of the overall TVL.
The platform will enable developers to run unmodified Ethereum Virtual Machine (EVM) contracts and transactions on a second layer while leveraging Ethereum’s exceptional layer one security.
It is designed to address some of the flaws of current Ethereum-based smart contracts, such as low efficiency and high execution costs, which have harmed the Ethereum user experience and frequently make transacting expensive.
6. Base
Base is an Ethereum Layer 2 (L2) chain that provides a secure, cost-effective, and developer-friendly approach to constructing on-chain. Base is an L2 based on the OP Stack in conjunction with Optimism.
Base has a TVL (Total Value Locked) of $1.705 billion, which represents 1.73% of the overall TVL.
Base allows you to easily create decentralized apps with access to Coinbase’s products, users, and tools. Base intends to be decentralized, permissionless, and available to all to build a standard, modular, rollup-agnostic Superchain powered by Optimism.
7. Blast
The Blast Blockchain is an Ethereum Virtual Machine (EVM)-compatible optimistic roll-up solution built on Ethereum to increase scalability and efficiency.
Blast, founded in November 2023 by the team that created Blur, a leading NFT marketplace, has swiftly gained traction due to its novel approach to native yield generation on Layer-2.
Blast has a TVL (Total Value Locked) of $1.202 billion, which represents 1.22% of the overall TVL.
BLAST Blockchain is a fast, secure, scalable, low-cost Layer 2 (L2) and EVM-compatible blockchain based on the One World Chain. BLAST Chain provides high-speed connectivity to the Ethereum network at a lower cost.
8. Avalanche
Avalanche is a blockchain platform that makes use of a unique Proof of Stake (PoS) technique to handle the blockchain’s trilemma of scalability, security, and decentralization.
Avalanche is the eighth largest blockchain with a TVL (Total Value Locked) of $944.36 million, representing 0.96% of the overall TVL.
Avalanche, like Ethereum, enables smart contracts to operate decentralized apps (dApps) on its network. Avalanche’s smart contracts writes in the Solidity language, which Ethereum also uses, and it intends to improve blockchain interoperability by integrating several decentralized finance (DeFi) ecosystems, including well-known projects such as Aave and Curve.
9. Polygon
Polygon (previously Matic Network) is a blockchain platform that intends to build a multi-chain blockchain system similar to Ethereum.
Polygon is the ninth largest blockchain with a TVL (Total Value Locked) of $904.7 million, representing 0.92% of the overall TVL.
Polygon is a “layer two” or “sidechain” scaling solution that works alongside the Ethereum blockchain, allowing faster transactions and lower costs.
10. Scroll
Scroll blockchain is a decentralized network allowing efficient data storage and movement.
Scroll is the tenth largest blockchain with a TVL (Total Value Locked) of $754.72 million, representing 0.77% of the overall TVL.
Scroll’s objective is to create an accessible scaling solution that retains the essence of Ethereum: trust-minimized, safe, and open source.
