Polkadot Makes Strides as New Parachains Join the Party
Polkadot, the sleeping giant of the cryptosphere, has just completed its most productive quarter to date. While industry eyes were focused on the carnage dominating its lending and venture capital sector, Polkadot developers quietly shipped hundreds of forkless upgrades across its Substrate-based chains, while the Web3 Foundation doled out dozens of grants. The multi-chain network is now in rude health as Q3 gets underway, with new parachains regularly joining its main relay chain and sister network Kusama. If the blockchain of blockchains founded by Dr Gavin Wood can maintain this....
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As the launch date for parachains nears, a new initiative is constructing a decentralized finance (defi) index token that tracks Polkadot projects aimed at helping investors diversify their holdings through a single instrument. Six Projects Provide Soft Commitments to Join Polkadot Index Network Token The growing interest in Polkadot and its novel parachains has seen the blockchain’s native token become the source of frenzied speculation over the last few months, joining the list of the top ten cryptocurrencies by market capitalization. Now, with approaching parachain launches for....
As you might already know, parachains are different individual layer-1 blockchains, running in parallel within the Polkadot ecosystem, on the Kusama network – and soon to be Polkadot as well. While they leverage the central Relay Chain to stay connected and secured, they benefit from Polkadot’s other properties, such as its security, scalability, interoperability, and governance. The uses of parachains are multiple. Taking the advantage of Polkadot’s cross-chain composability feature, any sort of data or asset can be sent between parachains. While it makes Parachains eligible to....
The Polkadot team invested five years into the development of the parachains, which were allocated to teams via auctions. Open-source blockchain platform Polkadot announced the launch of its first parachains (or parallelized chain) aimed at improving the interoperability between multiple blockchains. According to the announcement, the Polkadot team invested five years into the development of the parachains, which were allocated to teams via auctions, namely, Acala, Moonbeam, Parallel Finance, Astar, and Clover. With individual blockchains running in parallel within the Polkadot ecosystem,....
The rollout of the Polkadot protocol has been ongoing since August, when the project launched its Rococo testnet. Kusama, sister chain to Polkadot’s platform, is ready for the rollout of parachains on the network.Polkadot and Kusama creator Gavin Wood today said in a blog post that Polkadot was entering the fourth and final phase of its mainnet launch, which involves deploying parachains to the Kusama network. According to Wood, the development arm behind Polkadot, Parity Technologies, had released an upgrade — Polkadot version 0.9 — for Kusama, which “is now finally ready to host....
As the price drops to $7.55, the Polkadot (DOT) price analysis suggests that the trend is still bearish. Polkadot price analysis reveals a downward trend DOT/USD has looked for support at roughly $7.49 DOT/USD is encountering resistance at $7.74 Previously trading at about $7.74, Polkadot is now looking for support at about $7.49. The price of DOT/USD is still facing resistance at $7.74, but if it drops below $7.49, it might find support at $7.32. and $7.05. If it declines below that, it might find support there. Around these levels, Polkadot might feel some selling pressure, but if it....