Original author: Axel Bitblaze (@Axel_bitblaze 69 ）
Original compilation: Joyce, BlockBeats
Editors note: Crypto researcher Axel Bitblaze analyzed the three public chains Injective, Oasis and Near from the perspectives of technology, use cases, performance, consensus mechanism, market position and token economics. And based on the higher trading volume/market capitalization ratio of Injective, it is believed that the market will be more interested in Injective in the short term, and transactions on it will be more active. BlockBeats is compiled as follows:
Privacy-focused L1 solution Oasis Protocol
Technology: Focus on privacy protection functions; combine secure computing technology (such as trusted execution environment) and blockchain framework;
Consensus mechanism: Use Proof of Stake (PoS) to reach consensus;
Use cases: Mainly targeted at applications that require privacy; especially suitable for healthcare or financial fields where sensitive data needs to be protected;
Performance: High scalability and low gas fees; advantages of PoS mechanism and optimized network structure;
Market positioning: As a privacy-focused platform, it may appeal to a niche market; especially attractive to industries that handle sensitive data.
DeFi and Derivatives L1 Solution Injective
Technology: Aims to create a fully decentralized platform for derivatives and DeFi; allows the creation of permissionless and decentralized markets;
Consensus mechanism: using the PoS model, which contributes to faster transaction speeds and lower fees;
Use cases: Focus on trading and finance, supporting a series of financial products such as futures and perpetual futures;
Performance: High transaction throughput and low latency, solving some common pain points in DeFi and trading;
Market positioning: Strongly attractive to the DeFi community and traders looking for a decentralized, safe and efficient trading platform.
Near protocol
Technology: Leveraging sharding technology for scalability, allowing the network to handle more transactions as it grows;
Consensus mechanism: Adopts Nightshade, a variant of PoS that helps achieve high throughput and low transaction costs;
Use cases: Aims to be a developer-friendly platform that supports a variety of dApps, including NFTs, games, and DeFi;
Performance: Adopts a unique sharding method (sharding-as-you-go), providing a potential solution to the impossible triangle problem of blockchain;
Market Positioning: Focused on usability and scalability, aiming to target a wider segment of the blockchain ecosystem from developers to end users.
Comparative analysis
1) Focus areas
- $ROSEDistinctive due to its privacy features.
- $INJTargeted at DeFi and trading markets.
- $NEARPositioning itself as a general-purpose, scalable blockchain suitable for various dApps.
2) Technical advantages
- $ROSEA privacy approach is a key differentiator, especially relevant in industries concerned with data sensitivity.
- $INJProvides specialized tools to the financial sector, particularly derivatives and trading.
- $NEARSharding technology provides a solid foundation for scalability and has broad appeal to many dApp developers.
3) Use cases and ecosystem
- $ROSENiche adoption may be seen in industries that require data privacy.
- $INJCan attract financial institutions and DeFi enthusiasts.
- $NEARDue to its flexibility and scalability, it has the potential for wider adoption, attracting diverse dApp development.
4) Investor perspective
- $ROSEIt may be attractive for those looking to invest in the cryptocurrency privacy space.
- $INJMay attract investors interested in growth and innovation in financial applications on the blockchain.
- $NEARThis may be a suitable choice for investors betting on widespread adoption of blockchain technology in various sectors.
Tokenomics
1) Market value
• $NEAR 1, 228, 940,$901
• $ROSE ： 263, 770,$383
• $INJ 1, 152, 649,$407
analyze:
NEAR and INJ have significantly higher market capitalizations compared to ROSE. This suggests higher market valuations and possibly higher investor confidence or utility perceptions. A higher market cap usually means a more established position in the market, but it can also mean it is more mature and may offer a lower growth rate compared to smaller cap coins.
2) 24-hour trading volume and market capitalization ratio
- $NEAR ：
- Volume: $22, 437, 661
- Trading volume/market capitalization ratio: 0.02
- $ROSE ：
- Volume: $6, 461, 412
- Trading volume/market capitalization ratio: 0.02
- $INJ ：
- Volume: $51, 954, 873
- Volume/market capitalization ratio: 0.05
analyze:
$INJTrading volume is significantly higher relative to its market capitalization, indicating more active trading and potentially higher liquidity and investor interest in the short term.
$NEARand$ROSE, while having similar ratios, is less active in comparison.
Supply indicators:
1) Circulation supply
- $NEAR ： 989, 205,461 (98.92% of total supply)
- $ROSE ： 5, 029, 357,184 (50.29% of total supply)
- $INJ ： 83, 755,556 (83.76% of total supply)
2) Total supply and maximum supply
- $NEAR: 1 billion total supply, maximum supply undefined
- $ROSE: 10 billion total supply, maximum supply undefined
- $INJ: 100 million total supply and maximum supply
$NEARIts supply is almost entirely in circulation, suggesting limited inflationary pressures.
$ROSEOnly half of its total supply is in circulation, potentially leading to inflationary effects.
$INJSupply is capped, attracting value appreciation if demand remains strong.
Conclusion of Token Economics
• $INJStands out - It has higher trading volume relative to its market capitalization, which may indicate more active market interest or speculative trading.
• Circulating supply ratio is critical:
- $NEAR: Almost completely diluted.
- $INJ: Most of the token supply has reached the set maximum supply cap and can be freely traded on the market.
- $ROSE: A considerable part has not yet entered circulation.
