7 Best Blockchain Startups to Watch in 2023

The blockchain technology continues to revolutionize industries across the globe, with its potential to enhance transparency, security, and efficiency in various sectors. As we step into the second half of 2023, the blockchain startup ecosystem is thriving with innovative projects and disruptive ideas.

According to a report by Grand View Research, the global blockchain technology market revenue is forecasted to reach $1.43 trillion by 2030, up from $17.46 billion in 2023 (which would represent a CAGR growth rate of 87.7%). Per the report, a major reason for the positive growth projection is established companies working on monetizing blockchain solutions, like IBM, Microsoft, Circle, Deloitte, Ripple, and others. However, startups play a vital role due to their flexibility and inclination to pursue disruptive products and services.

In this article, we will explore 7 of the best blockchain startups that are poised to make a significant impact in 2023 and beyond:

1. Aptos – A high-performance layer 1 blockchain startup
2. Mina Protocol – The world’s lightest blockchain using ZK-proofs
3. GMX – A decentralized perpetual exchange startup
4. Open Campus – A web3 education startup
5. Space ID – A web3 marketplace for domain name investors
6. Hoooked Protocol – A web3 onboarding protocol
7. Hashflow – A crypto trading platform with no commission

The 7 best blockchain startups in 2023: Examining promising crypto projects

In the sections that follow, we are going to list 7 blockchain startups we believe have strong potential for future growth. The total funding amount corresponds to the among listed on Crunchbase, a leader in providing business information about private and public companies (except when stated otherwise).

1. Aptos – A high-performance layer 1 blockchain startup

Aptos is a Web3 startup that aims to create a more user-friendly and scalable decentralized web. The platform uses a layer 1 blockchain that is based on the Move programming language, which was originally developed for Meta’s Diem project. Aptos allows developers to create and deploy web3 applications that are safe, performant, and upgradeable. It also has its own native token, APT, which is used for governance, staking, and fees.

Description: A high-performance layer 1 blockchain that aims to disrupt the smart contract and NFT sector with low fees and over 100,000 TPS.

Year Founded: 2021

Location: San Francisco, US

Funding: $350 million

2. Mina Protocol – The world’s lightest blockchain using ZK-proofs

Mina Protocol is a blockchain startup that claims to be the world’s lightest blockchain, powered by participants. The platform uses zero-knowledge proofs to compress the entire blockchain into a constant size of about 22 KB, which can be easily verified by any device. Mina Protocol also allows users to create zkApps, smart contracts powered by zero-knowledge proofs that can privately interact with any website and access verified real-world data for use on-chain. The project aims to create a more secure and democratic web3 with zero-knowledge proofs. MINA is the native token of the Mina Protocol platform, serving as a governance token.

Description: A zero-knowledge proofs blockchain with a minimum size that makes it possible to run the whole node on mobile devices and low-powered devices.

Year Founded: 2017

Location: San Francisco, US

Funding: $136 million

3. GMX – A decentralized perpetual exchange startup

GMX is a crypto project that offers a decentralized perpetual exchange that supports low swap fees and zero-price impact trades. The platform enables users to trade BTC, ETH, AVAX, and other top cryptocurrencies with up to 50x leverage directly from their wallets. GMX is the native token of the project, which can be used for staking, paying fees, and governance. GMX is currently available on Arbitrum and Avalanche networks.

Description: A decentralized exchange that allows users to trade cryptocurrencies with up to 50x leverage.

Year Founded: 2021

Location: Singapore

Funding: $900,000 (token sale)

4. Open Campus – A web3 education startup

Open Campus is a community-led Web3 education protocol that aims to tokenize the world’s educational content by enabling teachers and creators to monetize their content. The protocol allows communities to create, own, and promote content they want to see in the world and enables educators to earn revenue and recognition for their contributions. The protocol also supports smart donations, which allow donors to support educational causes directly and track their donation on-chain. Open Campus has partnered with various platforms, such as TinyTap, Mocaverse, and GEMS, to integrate its protocol and offer more opportunities for learning and earning. The platform uses the native token EDU, which was offered to Binance Launchpad investors during a week-long campaign in April 2023.

Description: The Open Campus protocol is designed to enable educators to earn revenue from their efforts and enable users and the community to create, distribute, and promote educational content.

Year Founded: 2023

Location: n/a

Funding: $2.5 million (token sale)

5. Space ID – A web3 marketplace for domain name investors

Space ID is a crypto project that offers a Web3 identity protocol with a multi-chain name service. It allows users to discover, register, trade, and manage Web3 domains, which are human-readable identities that can be used instead of standard cryptocurrency addresses. Space ID also provides a Web3 Name SDK and API for developers to integrate Web3 name services across blockchains. The project has its own native token, ID, which is used for staking, payments, and governance. Space ID is one of the largest Web3 name service providers and has partnered with various platforms, such as Binance Smart Chain, Arbitrum, Trust Wallet, and more.

Description: Space ID allows users to explore, register, and trade Web3 domains on BNB Smart Chain, Ethereum, and Arbitrum.

Year Founded: 2022

Location: Singapore

Funding: $10 million

6. Hoooked Protocol – A web3 onboarding protocol

Hooked Protocol is a crypto startup that is building the on-ramp layer for massive Web3 adoption using the Learn-to-Earn and gamified elements to power various blockchain products. The project aims to accelerate Web3 education and engagement by offering customized learning resources and onboarding support for businesses and users. Hooked Protocol has its own native token, HOOK, which is used for governance, staking, and rewards. Hooked Protocol also has a secondary token, HGT, which is used for incentivization and gamification. Hooked Protocol was launched on Binance Launchpad in December 2022.

Description: Hooked Protocol is developing the “on-ramp” layer for massive adoption of Web3 products and services by incentivizing users through the Learn-to-Earn mechanism.

Year Founded: 2022

Location: Singapore

Funding: $2.5 million (token sale)

7. Hashflow – A crypto trading platform with no commission

Hashflow is a crypto project that offers a decentralized exchange designed for interoperability, zero slippage, and MEV-protected trades. The project allows users to trade any asset on any chain in seconds simply by connecting their wallets. Hashflow also provides commission-free trades, guaranteed price execution, and native cross-chain swap functionality without the use of bridges or synthetic assets. Hashflow has its own native token, HFT, which is used for staking, governance, and rewards. Hashflow was launched on Binance Launchpool in October 2022, allowing investors to farm HFT by staking their BNB or BUSD.

Description: A cryptocurrency trading protocol that allows users to connect their wallet and trade Ethereum, BNB, Polygon, and a number of other cryptos with 0% commission.

Year Founded: 2019

Location: San Francisco, US

Funding: $28.2 million

The bottom line: You can follow blockchain startups on social media to learn more 

These are some of the best blockchain startups to watch in 2023 that are transforming the blockchain industry by introducing higher standards of trading, functionality, and flexibility. If you are interested in learning more about these startups or investing in them, you can visit their websites or follow them on social media.

If you are seeking more promising blockchain projects, check our list of the best crypto presales or follow our weekly-update list of best cryptocurrencies to buy right now.