3 innovative crypto projects to watch out for in 2022

Cryptocurrencies have become extremely popular over the years, and the crypto market is worth approximately US$ 2 trillion and features at least 19,000 cryptocurrencies. Unlike in the early days of the world's first cryptocurrency, Bitcoin, when only a handful of users believed in virtual currency, major corporate giants are now getting involved in the crypto industry.

For the past few years, the crypto market has been believed to have outperformed the traditional markets, probably because cryptocurrencies attract people of different generations.

Along with cryptocurrencies, the popularity of blockchain technology and digital assets like non-fungible tokens (NFTs) is soaring. Many innovative projects have been launched in the crypto ecosystem in the past few years.

Let's take a look at some innovative projects based on cryptocurrency and blockchain technology.

Yield App

It is an innovative project as it offers digital wealth management services and allows its users to invest in Bitcoin, USDC, USDT, and ETH for an annual percentage yield (APY) of around 20.5 per cent.

As per the official website, Yield App has more than US$ 500 million worth of assets under management and distributed over US$ 30 million in rewards.

3 innovative crypto projects to watch out for in 2022

Yield App has a native utility token called YLD, and it allows users to earn rewards through staking or locking. The project claims to have more than 80,000 registered users.

Serenity Shield

The official website says Serenity Shield is the first blockchain-based decentralized identification (DID) technology solution. It enables users to recover digital assets in case of a lost wallet seed, death, personal tragedy, or secret phrase.

Serenity Shield allows people to claim full ownership and control their digital assets. Also, the project uses the security of smart contracts.

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There's a virtual safe on the platform, and it is called 'StrongBox' and stores sensitive data. Those who use the Serenity Shield have an option to name beneficiaries or receivers for their transferable Heritage plan.

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It is a smart contract hosting platform and provides interoperability and execution solutions. T3rn was built to ensure the multi-chain execution of smart contracts round the clock.

As per the official website, the T3rn registry can be used to utilize smart contracts, and developers can opt to get paid whenever their code is run.

T3rn protocol aims to accomplish interoperability, and it focuses on the fail-safe component of multi-chain execution.

Also Read: Zilliqa (ZIL) crypto soars amid rising market. Here's why

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