The crypto startup world is still thriving despite the current market drawdown and experts calling out for a “bear market” in the coming months. CoinList Seed is one of the rising projects helping early-stage crypto startups having named seven new projects including t3rn in its latest batch.
At the start of March, t3rn, a smart contract hosting platform, joined the CoinList Seed 2022 Winter Batch, as one of the seven selected projects out of over 1000 projects that applied. Announced on March 4, CoinList stated t3rn as one of the “most-promising” projects with incredible features and offering a multi-chain platform.
In a tweet announcing the latest addition to CoinList, t3rn wrote:
T3rn is an interoperable, fail-safe, and composable smart contract hosting platform offering users innovative solutions to execute their smart contracts. According to a team statement, smart contracts can be stored in the t3rn registry allowing anyone to use them and developers to contribute to them in an open registry, rewarding any smart contract anytime it is executed. The platform is built with fail-safe mechanisms meaning successful multi-chain smart contract execution will always be guaranteed.
CoinList, a platform for listing new crypto startups, launched the CoinList Seed program in 2020 as a platform to help fund and grow early-stage startups in the cryptoverse. The program has since helped grow over 50+ crypto startups to date, the 2022 Winter program being the latest. The program has steadily grown over the past two years, from only 80 startups applying for the first cohort to over 1000+ startups in the Winter 2022 cohort.
Apart from mentorship and funding, the CoinList Seed program also benefits projects by broadcasting them to over 4 million KYC-verified users, collaborations with other CoinList Seed companies, and a presence in the mainstream crypto media. Over the last few years, CoinList Seed has given rise to some of the most notable crypto projects including Solana, Near Protocol, Acala, and Mina among others.
The CoinList Seed Winter 2022 selected projects included t3rn (as mentioned above), Immortal Game (an NFT-based chess game), EthSign (the first-ever Web 3 native agreement signing platform), Exorde Labs (a blockchain-based link service to all public data), Mesha (a decentralized social investing platform), Paychant (an African-focused platform for digital currency payments), and Smoothie (a launchpad that tokenizes awards for developers).
Building open-source solutions for developers
Across the seven mentioned projects, t3rn stands out as the only developer-focused project. The project aims at building a smart contract hub that enables cross-chain execution. On legacy blockchains, interoperability and scalability have been a hard nut to crack. With t3rn, developers will have an easy and accessible model to allow smart contract interoperability without giving up any advantages that blockchains offer.
It mainly focuses on providing a fail-safe aspect of cross-chain execution, where an execution finishes in all of the connected blockchains or rolls back all of the trice (side effects). This allows projects that are not supported by other interoperability solutions to achieve interoperability without losing (or forfeiting) some of their qualities.
Additionally, t3rn is also built for open-source developers, with an open smart contract repository that allows developers to contribute to and opt to be remunerated every time somebody utilizes their code. This incentivizes developers to build workable and advantageous smart contracts and projects without a dying need to make a profit from them. This also reduces the number of scams in the crypto space. The repository also allows developers to create interoperable smart contracts and connect with other contracts on other blockchain platforms that don’t require cross-chain features.
Finally, with its easy-to-use platform and simple UI, t3rn makes deploying a cross-chain smart contract as simple as deploying one on Ethereum. The platform also includes its TRN token, which is used to incentivize developers to build on the protocol, pay cross-chain execution fees, and allow community participation in governance decisions.
Concluding thoughts
Despite the crypto market drawdown since the November 2021 highs, the appetite for early-stage crypto startups is only increasing and growing. With programs such as CoinList Seed mentoring and helping startups, it looks like developers will keep finding solutions for the persisting problems in the crypto space such as smart contract interoperability.
