Is Ethereum Great Again? A Review of EVM Public Chains Expected to Issue Tokens in the Second Half of the Year

Author: Viee, Biteye

As a pioneer in the blockchain industry, Ethereum has experienced numerous fluctuations and challenges in recent years. However, with projects launching one after another, the EVM public chain ecosystem is revitalizing. This article will review some EVM public chains expected to issue tokens in the second half of the year.

01 Project Review

1. Monad: Total funding of $244 million, invested by Paradigm, Dragonfly, OKX Ventures, and others.

A high-performance blockchain platform compatible with the Ethereum Virtual Machine (EVM), designed to significantly improve transaction speed and scalability through parallel execution technology, capable of processing over 10,000 transactions per second.

2. Aleo: Total funding of $228 million, invested by a16z, Polychain, and others.

A privacy public chain based on zero-knowledge proof technology, aimed at providing highly private smart contracts and decentralized applications.

3. Berachain: Total funding of $142 million, invested by Framework Ventures, Polychain, OKX, and others.

A high-performance EVM-compatible blockchain that uses a Proof-of-Liquidity consensus mechanism, aimed at promoting the development of the decentralized finance (DeFi) ecosystem.

4. Aztec Network: Total funding of $119 million, invested by Paradigm, a16z, and others.

The first private ZK-rollup on Ethereum, aimed at providing privacy protection and scalability for decentralized applications.

5. Fuel: Total funding of $81.5 million, invested by Blockchain Capital, CoinFund, and others.

A modular execution layer designed for Ethereum, aimed at achieving efficient blockchain scalability through parallel transaction execution and flexible throughput.

6. Scroll: Total funding of $80 million, invested by Polychain, Robot Ventures, and others.

An EVM-compatible zk-Rollup based on zero-knowledge proof technology, aimed at supporting the development of decentralized applications by enhancing Ethereum's scalability and privacy protection. It allows users to verify transactions without disclosing original data and achieves seamless compatibility with existing Ethereum infrastructure.

7. Eclipse: Total funding of $65 million, invested by Polychain, OKX Ventures, and others.

A high-performance Layer 2 solution based on Ethereum, utilizing the Solana Virtual Machine (SVM) for fast execution. It combines Ethereum's security with Celestia's data availability, supporting high transaction volumes and low-cost decentralized application development.

8. Espresso Systems: Total funding of $60 million, invested by a16z, Electric Capital, and others.

An EVM-compatible blockchain project that utilizes zk-Rollup and PoS consensus mechanisms to provide scalability and privacy protection, offering high-performance and secure infrastructure for Web3 application development.

9. Succinct: Total funding of $55 million, invested by Paradigm, Robot Ventures, and others.

A project aimed at establishing an initial decentralized and permissionless interoperability layer for Ethereum, utilizing proof-based cross-chain communication to enable developers to securely integrate this technology into upcoming dApp projects.

10. Karak: Total funding of $51.3 million, invested by Pantera Capital, Framework Ventures, and others.

A Layer 2 blockchain network focused on restaking, aimed at incentivizing users to restake through points to achieve multiple yields while supporting asset interactions across Ethereum mainnet and several other blockchain protocols.

11. Movement: Total funding of $41.4 million, invested by Polychain, Binance Labs, OKX Ventures, and others.

A zk-Rollup based on Move, aimed at building and deploying infrastructure and applications based on the Move programming language in distributed environments, compatible with the Ethereum ecosystem, promoting liquidity and interoperability between different blockchains.

12. Lava Network: Total funding of $26 million, invested by Animoca Brands, Jump Capital, and others.

A modular blockchain data marketplace that provides flexible data storage and management solutions by connecting blockchains and decentralized applications with node providers, aimed at enhancing the efficiency and scalability of data access.

13. Caldera: Total funding of $24 million, invested by Founders Fund, Dragonfly, and others.

A project focused on building high-performance, customizable Layer 2 blockchain networks, aimed at providing high throughput and low latency solutions for decentralized applications, enabling developers to quickly create blockchains for specific applications.

14. Particle Network: Total funding of $23.5 million, invested by Binance Labs, The Spartan Group, and others.

A modular blockchain project aimed at achieving cross-chain interoperability through chain abstraction, allowing users to seamlessly manage and trade assets across different blockchains, simplifying the user experience.

15. MegaETH: Total funding of $20 million, invested by Dragonfly, Robot Ventures, and others.

A real-time blockchain fully compatible with Ethereum, aimed at providing a Web2-like performance experience through ultra-high transaction throughput and low latency processing capabilities, supporting over 100,000 transactions per second.

16. Reya Network: Total funding of $16 million, invested by Framework Ventures, Coinbase Ventures, and others.

A modular Layer 2 solution focused on optimizing trading scenarios, aimed at enhancing liquidity and capital efficiency for cryptocurrency exchanges through a unique liquidity pool mechanism.

17. Initia: Total funding of $7.5 million, invested by Delphi Digital, Binance Labs, and others.

A modular full-chain Rollup network aimed at simplifying user experience in multi-chain environments and optimizing developers' application building capabilities by combining application-specific L2 infrastructure with innovative L1 blockchains.

18. Bitfinity Network: Total funding of $7 million, invested by Polychain, ParaFi Capital, and others.

An EVM-compatible blockchain built on the Internet Computer (IC), ensuring security through threshold signature schemes, and bringing new applications and use cases to the Bitcoin ecosystem through compatibility with the Ethereum ecosystem.

19. Artela: Total funding of $6 million, invested by Shima Capital, SevenX Ventures, and others.

A scalable blockchain network that enhances scalability and performance through parallel execution stacks and elastic block space technology, enabling developers to build feature-rich dApps in the EVM environment and dynamically add WASM native extensions to support complex application scenarios.

20. Linea: Total funding amount undisclosed, invested by ConsenSys and others.

A high-performance Layer 2 network developed by ConsenSys, combining zero-knowledge proof technology with full compatibility with the Ethereum Virtual Machine (EVM), aimed at enhancing the scalability and development efficiency of decentralized applications.

21. Zircuit: Total funding amount undisclosed, invested by Binance Labs, Robot Ventures, and others.

A zero-knowledge Rollup network fully compatible with EVM, combining Optimistic Rollups with zero-knowledge proofs, aimed at providing developers with high-performance and secure solutions.

22. ALIENX: Total funding amount undisclosed, invested by OKX Ventures and others.

A high-performance blockchain driven by AI nodes, aimed at becoming the infrastructure for NFTs and gaming, supporting users to earn rewards by staking various crypto assets, and committed to enhancing network security and data credibility.

23. Namada: Total funding amount undisclosed, invested by Perridon Ventures and others.

A Layer 1 cross-chain privacy platform based on proof of stake, using the CometBFT consensus mechanism, supporting concealed transfers of multiple assets, and compatible with the full IBC protocol to enhance privacy protection in multi-chain ecosystems.

02 Summary

As these EVM public chains continue to develop, market confidence in the Ethereum ecosystem is gradually recovering.

Although facing challenges such as technical compatibility and security, the emergence of new public chains injects new vitality into Ethereum's future.

Overall, the second half of the year will be a critical period for EVM public chains to issue tokens, and Ethereum's resurgence may be realized with the support of these emerging public chains.

Risk Warning: Cryptocurrency assets carry high risks; the above is for informational sharing only and not investment advice.