Polkadot Hits ATH in Development Activity, DOT Is at $6.18

| Updated
by Kofi Ansah · 2 min read
Polkadot Hits ATH in Development Activity, DOT Is at $6.18
Photo: Depositphotos

Rob Habermeier, the founder of Polkadot, recently released a roadmap for improving the scalability of Polkadot and Kusama.

According to data from GitHub, Polkadot recorded more than 500 contributions every day in September, which is an all-time high (ATH)  for the multichain protocol. A record 26,258 messages were also transferred between its parachains, according to data from Polkadot’s cross-consensus interoperability standard XCM.

Polkadot’s GitHub recorded a total of 14,930 developers’ contributions in the month of August.

Parachains are individual layer-1 blockchains that run in parallel on Polkadot and are first tested on Kusama. Crowdloan auctions are used to allocate parachain spaces, with the winning project receiving the spot. The first of its kind debuted last November.

According to project developers, 66 blockchains are currently operational on Polkadot and its parachain startup network Kusama. Over 140,000 messages have been sent and received between chains across 135 communications channels since the system’s launch.

Together, the Polkadot and Kusama Treasuries have paid out a total of 346,700 KSM and 9.6 million DOT ($72.8 million) to finance spending proposals in the ecosystem.

Rob Habermeier, the founder of Polkadot, recently released a roadmap for improving the scalability of Polkadot and Kusama.

Habermeier highlighted the potential for asynchronous backing, or the decoupling of parachain extension from relay chain extension, to reduce parachain blocktime by 50% while boosting block space provided by a factor of ten.

If the update is implemented, it is predicted to boost the transactions per second (TPS) capacity of the network to 100,000–1 million transactions per minute.

The asynchronous backing upgrade is scheduled for development on Kusama by the end of the year, then followed by Polkadot.

Theoretically, the next network upgrade that will introduce “pay-as-you-go” parachains will combine the simultaneous launch of smart contracts and a blockchain on Kusama. The initiative would shorten the development process for building on Polkadot

Polkadot at press time was trading at $6.17, up 0.15% in the last 24 hours. The digital coin currently holds the number 12 position on the crypto ladder, ahead of some popular altcoins including DAI, Tron, Litecoin, and Avalanche.

Before the launch of its digital currency, the Polkadot project had raised over $144.3 million through the Web3 Foundation in an ICO in October 2017.

Altcoin News, Blockchain News, Cryptocurrency news, News
Kofi Ansah
Author Kofi Ansah

Crypto fanatic, writer and researcher. Thinks that Blockchain is second to a digital camera on the list of greatest inventions.

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