Progress of Polkadot (Development Prospects of Polkadot)
What progress has Polkadot made? According to the progress information of Polkad
What progress has Polkadot made? According to the progress information of Polkadot, as of the time of writing, there have been seven major upgrades. Polkadot is currently undergoing its first hard fork (expected block height 125,000), which will first address the gas issues on the network and the problem of high transaction fees before the upgrade.
It is reported that the Kusama council has voted in favor of a new proposal regarding the new codename “KAR”. This proposal, put forward by Jakub Cech, the technical lead at Parity, aims to establish a network that is compatible with the Polkadot blockchain, making it easier to obtain and use.
Development Prospects of Polkadot
Polkadot currently has a market value of $437 billion. Since its launch in July 2018, this cryptocurrency has risen by about 70% and has seen an increase of around 30% as of the time of writing.
Technically, Polkadot has a solid foundation in blockchain architecture, with features such as privacy, scalability, and interoperability similar to Ethereum. Therefore, it allows more people to use and leverage it for cross-chain transfers or other related applications.
The Polkadot ecosystem has its own value. Its community governance mechanism is also based on the Substrate development framework. It is a completely open-source way to launch a blockchain network built on Substrate and supported by the Web3 Foundation.
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