We use cookies and other tracking technologies to improve your browsing experience on our site, analyze site traffic, and understand where our audience is coming from. To find out more, please read our privacy policy.

By choosing 'I Accept', you consent to our use of cookies and other tracking technologies.

We use cookies and other tracking technologies to improve your browsing experience on our site, analyze site traffic, and understand where our audience is coming from. To find out more, please read our privacy policy.

By choosing 'I Accept', you consent to our use of cookies and other tracking technologies. Less

We use cookies and other tracking technologies... More

Login or register
to apply for this job!

Login or register
to publish this job!

Login or register
to save this job!

Login or register
to save interesting jobs!

Login or register
to get access to all your job applications!

Login or register to start contributing with an article!

Login or register
to see more jobs from this company!

Login or register
to boost this post!

Show some love to the author of this blog by giving their post some rocket fuel 🚀.

Login or register to search for your ideal job!

Login or register to start working on this issue!

Login or register
to save articles!

Engineers who find a new job through Blockchain Works average a 15% increase in salary 🚀

Blog hero image

Top Blockchain Companies in 2021

Michiel Mulders 6 May, 2021 | 6 min read

Blockchain technology has become a legitimate disruptor for many industries. 2021 marks an era of blockchain maturity with many institutional investments. This year alone, we saw credit card companies partner with blockchain companies to offer Bitcoin rewards. In January, Visa partnered with BlockFi, and in April, Mastercard partnered with digital currency exchange Gemini.

So, which are the top blockchain companies to watch in 2021?

This article discusses six companies that have proven to contribute significant value to the blockchain space and improve the maturity and professionalization of the industry. Let’s have a look!

1. Coinbase - Cryptocurrency Exchange

We’ve all heard about Coinbase, the San Francisco-based crypto exchange, that went public on the NASDAQ exchange via a direct listing. It’s the first crypto project ever to get listed on a stock exchange, which is a remarkable achievement. This listing also shows blockchain technology’s importance and its intention to stay relevant for the foreseeable future.

Coinbase was founded in 2012 by Brian Armstrong (former engineer at Airbnb) and Fred Ehrsam (trader at Goldman Sachs). They wanted to provide users with an easy-to-use portal to buy and transact cryptocurrencies. At the time, Coinbase has become the largest cryptocurrency exchange in the US and has succeeded in its mission.

Coinbase estimated total revenue of $1.8 billion during 2021’s first quarter to give you some financial details about its magnitude. On top of that, the crypto exchange caters to 56 million verified crypto users.

Considering these numbers, Coinbase lists as the third-best crypto exchange for spot trading, according to CoinMarketCap.

001 coinmarketcap exchanges.png

2. Chorus One - Staking Infrastructure

First and foremost, Chorus One offers validation and staking services to users for various proof-of-stake blockchain networks. However, recently they’ve also started developing on different blockchain platforms to provide solutions that benefit their users.

For instance, Chorus One received a grant from the Celo Foundation and the Interchain Foundation to develop the building blocks to create an Inter-Blockchain Communication (IBC) module between the Celo blockchain and networks built on the Cosmos SDK.

A proof-of-stake network requires validators to secure the blockchain platform. Therefore, blockchain projects look for reliable validators who can run validator nodes. Users can then stake funds with these validator nodes. The bigger the stake, the more rewards a validator node receives for securing the blockchain. Moreover, the validator can choose (and is incentivized to do so) to share rewards with its stakers.

Chorus One has established itself as one of the most trustworthy and professional staking and validator services in the blockchain space. They’ve proven that you can run a viable staking business. At the moment, users have trusted $1,659,144,530 worth of assets staked with Chorus One. Impressive!

It’s worth mentioning that they support a massive list of proof-of-stake networks.

003 chorus one networks.png

Chorus One is hiring! Take a look at their open roles here.

3. Synthetix - Trade Synthetic Assets

Synthetix allows developers to issue synthetic assets on the Ethereum blockchain. This is a compelling concept as you can transform any asset into a tradable asset while removing its potential restrictions.

Here are some examples of synthetic assets:

  • You can trade synthetic commodities like silver and gold without worrying about high transaction or storage fees. For instance, investors pay a 0.5% fee to buy silver and pay additional storage costs of 7% per year on their total purchase value. You can eliminate all costs by trading synthetic commodities besides paying a small transaction fee on the Ethereum blockchain.
  • You can trade synthetic indexes that track the price of various assets. Often, average traders don’t have enough money to buy an index. Because you can split a synthetic index into smaller denominations, you can buy 1/10th of an index instead of an entire index, which is much more affordable.

002 Synthetix.png

In short, Synthetix has opened up many new use cases for traders seeking new financial instruments. It wasn’t possible to employ trading bots to many traditional financial products to give you a concrete example. When trading synthetic assets, this becomes possible. In other words, the Synthetix platform brings non-blockchain-based asset exposure to the crypto ecosystem.

Join our newsletter
Join over 111,000 others and get access to exclusive content, job opportunities and more!

4. Chainlink - Decentralized Oracle Network

To explain why Chainlink has been such an essential company for 2020 and 2021, let’s look at what problem they solve.

First of all, smart contracts are by nature limited in what they can do. You can program business logic, but you can’t access any external data to influence their decision process. For instance, you want to create a smart contract that allows users to gamble on the current temperature at a particular location. To execute, this contract needs access to off-chain temperature data.

However, we can’t send an API request to a data provider that lives outside our blockchain ecosystem. A smart contract can only access data that lives within the blockchain ecosystem. The problem here is that off-chain data isn’t deterministic. All nodes within a blockchain network need to compute the same result to accept a smart contract’s outcome. Therefore, when one node sends a request only half a second later to a data provider, the data provider may return a different result. Now, the node may calculate a different winner for the gambling smart contract. In other words, off-chain data is non-deterministic.

Therefore, Chainlink created the concept of decentralized oracles that make off-chain data available to smart contracts in a deterministic way. To get back to the temperature example, let’s assume we have ten nodes that request temperature data from different data providers. Then, we calculate the average temperature, and we write this number via a transaction to the blockchain. Now, our gambling smart contract can access the temperature data and execute its logic without leaving the blockchain ecosystem.

Providing this service to many decentralized finance (DeFi) projects helped establish Chainlink as a dominant player in the blockchain industry. Even Synthetix, the project described in bullet three, makes use of Chainlink’s decentralized oracle technology.

Providing this service to many decentralized finance (DeFi) projects helped establish Chainlink as a dominant player in the blockchain industry. Even Synthetix, the project described in bullet three, makes use of Chainlink’s decentralized oracle technology.

Chainlink is hiring! Take a look at their open roles here.

5. Gemini - Bitcoin Exchange and Custodian

Gemini is a crypto exchange founded by the famous Winklevoss twins in 2014. It’s a private exchange that also offers custodian services. The name Gemini refers to the Latin word for twins. The Winklevoss brothers have the vision of marrying both forms of money: fiat money and cryptocurrencies. They do this by offering various trading pairs where they map a cryptocurrency like Bitcoin against a fiat currency like the US Dollar (BTC/USD).

However, the Gemini exchange became famous for offering a first-of-a-kind custodian service for private investors. They hold customer’s digital assets in trust on behalf of the customer. Gemini can offer such a service because they are licensed as a regulated New York State Trust company. That means that they have to comply with banking standards and fulfill security standards. It’s worth noting that they offer $200 million in insurance coverage.

Being the first company to offer custodial services deserves them a spot on this list of top blockchain companies.

*Gemini is hiring! Take a look at their open roles here

6. Circle - Stablecoin USDC

Circle brands itself as the payment infrastructure for internet businesses and are active in the crypto space since 2013. They are the company behind the popular stablecoin USDC, with a market cap of $11,241,731,453. The USDC stablecoin has its value “pegged” against one US Dollar. It means that Circle holds $1 in collateral for every USDC token they issue. It’s one of the most widely adopted stablecoins besides Tether (USDT).

To spread USDC’s usage, the stablecoin runs on the Ethereum blockchain and works with the Algorand, Solana, and Stellar blockchain.

Circle has been a crucial player in the adoption of cryptocurrencies by companies. They provide a wide range of API and integration solutions for businesses to adopt cryptocurrency payments in their applications.

You might wonder why companies would want to adopt stablecoin technology? They provide companies the stability of fiat currencies with the properties of digital currencies like Bitcoin. You can transfer large sums of money within seconds across the globe to anyone or anything while paying a small fee for doing so. Not to forget the secure money transfer blockchain technology enables.

004 circle usdc supply.png (Source: Circle USDC)

If you are interested in more companies that didn’t make it to the list, make sure to check out Consensys, Gitcoin, and the Ethereum Foundation.

Author's avatar
Michiel Mulders
Passionate about Documentation Strategy, Developer Expierence, and Developer Advocacy. Software and blockchain engineer (Node.js & Go) and technical writer. And oh, crypto nerd!

Related Issues

cosmos / gaia
  • Started
  • 0
  • 4
  • Intermediate
  • Go
cosmos / gaia
  • Started
  • 0
  • 3
  • Intermediate
  • Go
cosmos / ibc
  • Open
  • 0
  • 0
  • Intermediate
  • TeX
cosmos / ibc
cosmos / ibc
  • Started
  • 0
  • 1
  • Intermediate
  • TeX
viebel / klipse-clj
viebel / klipse-clj
  • Started
  • 0
  • 4
  • Intermediate
  • Clojure
viebel / klipse
  • Started
  • 0
  • 1
  • Intermediate
  • Clojure
viebel / klipse
  • 1
  • 2
  • Intermediate
  • Clojure
viebel / klipse
  • Started
  • 0
  • 4
  • Intermediate
  • Clojure
  • $80

Get hired!

Sign up now and apply for roles at companies that interest you.

Engineers who find a new job through Blockchain Works average a 15% increase in salary.

Start with GitHubStart with Stack OverflowStart with Email