On October 9, 2024, Dr. Gavin Wood the founder of #Polkadot and #Ethereum , introduced a draft of the Join-Accumulate Machine (#Jam ) protocol, designed to address the scalability and performance challenges facing decentralized systems. This innovative blockchain solution combines the strengths of Polkadot’s parallelized computation model with Ethereum’s smart-contract functionality, offering a hybrid protocol that is both scalable and trustless.
What is Jam?
Jam is a decentralized, permissionless blockchain protocol designed to provide a secure, scalable, and efficient smart-contract environment. The protocol merges the parallelization pioneered by Polkadot with the more universal, flexible smart-contract system of Ethereum. Jam introduces a dualism between in-core (off-chain) and on-chain computation, enabling it to offer scalable smart-contract functionality without sacrificing security.
The primary innovation of Jam is its Join-Accumulate Model , which ensures that computation can be scaled across a decentralized node network while maintaining security and coherence. The model uses a mix of parallel off-chain processing and on-chain validation, allowing the system to perform complex tasks while reducing bottlenecks traditionally seen in blockchains.
Key Features of Jam
1. Scalability and Performance
Scalability has always been a core issue for blockchain technology. Jam addresses this by introducing a dual processing model that combines on-chain and in-core (off-chain) computations. The system allows certain computational tasks to be handled by a subset of nodes off-chain, while still ensuring security through on-chain verification. This division reduces the workload on the main chain and significantly increases the network’s ability to handle large volumes of transactions.
2. Permissionless Smart Contracts
Like Ethereum, Jam operates in a permissionless environment, meaning that anyone can deploy and run smart contracts on the network. However, Jam improves upon this model by introducing more efficient resource allocation. Developers must procure core-time, a computational resource similar to Ethereum’s gas, to execute smart contracts, ensuring that resources are used effectively and that costs remain low.
3. Security and Resilience
A major goal for Jam is to provide a resilient system that is resistant to censorship, corruption, and manipulation. Jam incorporates a robust consensus mechanism combining the Safrole block extension protocol and the Grandpa finality system. This hybrid approach ensures that blocks are validated quickly while maintaining the integrity and security of the blockchain.
4. In-core and On-chain Dualism
Unlike traditional blockchains, where every node processes every transaction, Jam introduces a new model where certain computations are performed off-chain by validator nodes and later verified on-chain. This model allows Jam to avoid the inefficiencies of complete state fragmentation (as seen in Polkadot) while still achieving scalability. Only critical state transitions are handled on-chain, while non-critical tasks are processed off-chain, thus ensuring a balance between performance and security.
5. Economic Incentives and Tokenomics
Jam is built on a crypto-economic system where validators are rewarded or penalized based on their performance in validating transactions and securing the network. The native token serves as both a utility and governance tool, much like Ethereum’s gas system, enabling users to pay for transaction execution and smart contract deployment. The token is also used to incentivize validators and ensure the integrity of the system through economic game theory.
6. Interoperability and Composability
While Polkadot focuses on isolated parachains with limited composability, Jam seeks to overcome this limitation by offering better integration between services. It maintains the ability to run parallel chains, but with improved mechanisms for communication between them, ensuring that the entire system operates more cohesively.
Jam’s Impact on the Future of Blockchain
Jam represents a significant advancement in the blockchain landscape. Its scalable, trustless framework has the potential to support a wide range of decentralized applications (dApps), from DeFi to Web3 platforms, without the performance constraints seen in earlier blockchain systems. By enabling more efficient use of network resources and reducing the barriers to smart contract innovation, Jam opens the door for greater decentralization and innovation in the blockchain ecosystem.
While still in its early stages, Jam has the potential to evolve into a protocol that could eventually replace or merge with Polkadot, marking a significant milestone in blockchain technology’s evolution. Its blend of Ethereum's flexibility and Polkadot’s scalability positions Jam as a solution for the blockchain trilemma—achieving decentralization, security, and scalability without compromise.
The #JoinAccumulateMachine is a groundbreaking #blockchain protocol that reimagines how decentralized networks can achieve scale, security, and efficiency. By combining off-chain computation with on-chain validation, Jam creates a hybrid system that can handle more complex tasks at a lower cost. As blockchain technology continues to evolve, Jam stands out as a promising solution for the future of decentralized networks and smart contract platforms.
$DOT

As the cryptocurrency scene keeps soaring after the SEC decision on Bitcoin ETF, one name that’s making waves among investors is Michael Saylor, the co-founder of MicroStrategy and a bona fide Bitcoin millionaire.

With Bitcoin (BTC) hitting all-time highs, Saylor has become a major influencer, dropping knowledge and insights about where he sees the flagship cryptocurrency heading. But investors aren’t just about Bitcoin – they’re also eyeing promising altcoins like Polkadot and emerging crypto projects like InQubeta, which blend crypto with artificial intelligence. 

BTC Millionaire’s Take on Bitcoin’s Soaring Future

Michael Saylor’s wisdom holds weight when it comes to the world of beginner cryptocurrency. As the brains behind MicroStrategy’s impressive Bitcoin stash, Saylor’s predictions about where Bitcoin is headed are eagerly followed by investors worldwide. And with Bitcoin recently blasting past the $50,000 mark, Saylor is doubling down on his optimism, foreseeing even loftier heights for the digital gold.

What’s driving Saylor’s positivity? It’s a mix of numbers and understanding the basics. He’s convinced that despite Bitcoin’s current price tag, it’s still just scratching the surface of what it can achieve in the long run.

While he’s eyeing short-term targets around $60,000, his big-picture projections are staggering – think about Bitcoin hitting $1 million someday. It’s a bold vision, but Saylor’s confidence in Bitcoin’s potential is infectious.

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Show more +Show less – Polkadot: A Gem Among Altcoins

While everyone’s eyes are glued to Bitcoin, there’s another player quietly making waves – Polkadot (DOT). This altcoin isn’t just another flashy token revolutionizing the game with its groundbreaking multichain protocol that tackles the interoperability problem.

On top of that, with its rock-solid fundamentals and a surge in demand, Polkadot isn’t just a glitch on the radar anymore – it’s becoming the go-to choice for savvy investors. Beginner cryptocurrency investors are talking about Polkadot’s potential powerhouse performance in 2024, and it’s not hard to see why.

With the crypto market gearing up for what could be a wild bull run, Polkadot’s unique selling point positions it as a prime contender for growth in the years ahead. It’s already climbing the charts, posting a one-month gain of over 10% recently.

InQubeta: Pioneering the Future of AI Investments

InQubeta (QUBE) is shaking up the game in AI investments. This platform is about to revolutionize how startups in artificial intelligence get funding and build connections with their communities. Imagine a transparent and fair investment platform that’s all about democracy and uses blockchain tech to make it happen.

One of the best things about the project is it’s breaking down barriers and opening doors to the exciting world of AI startups through its native token, QUBE. By tokenizing investments, it gives crypto enthusiasts a front-row seat to diverse cutting-edge AI projects, letting them spread their investments and ride the wave of innovation.

But what makes InQubeta stand out? It’s their dedication to building a vibrant community and empowering investors and startups alike. Through their popular NFT marketplace, InQubeta provides a stage for AI tech startups to showcase their genius to a global audience of potential backers.

By listing investment NFTs on the platform, startups get exposure and funding while investors get to be part of something groundbreaking and share in the rewards.

An interesting feature of InQubeta’s strategy is its 12-week vesting period for the QUBE token. Instead of flooding the market with tokens, they release them slowly, keeping things stable and sustainable. It’s a smart move that builds trust and confidence among blockchain ICO investors, ensuring that the QUBE token remains a top pick for those bullish on the future of AI tech.

Conclusion

The world of cryptocurrency is lighting up with possibilities for savvy investors willing to look beyond Bitcoin. Whether you’re intrigued by Polkadot’s game-changing interoperability or itching to get in on the action with top ICO projects like InQubeta, there’s a whole universe of potential just waiting to be discovered. Are you ready to take the plunge and explore these thrilling investment opportunities? 

Head over to InQubeta’s website to learn more and join the discussion. And don’t forget to connect with them on Twitter to stay in the loop. The future of cryptocurrency investing is happening now – seize the moment and be part of it!

Visit InQubeta Presale 

Join The InQubeta Communities

Disclaimer: This sponsored content is not endorsed by CaptainAltcoin, which takes no responsibility for its accuracy or quality. We advise readers to do their own research before interacting with any featured companies. The information provided is not financial or legal advice. Neither CaptainAltcoin nor any third party recommends buying or selling any financial products. Investing in crypto assets is high-risk; consider the potential for loss. CaptainAltcoin is not liable for any damages or losses from using or relying on this content.

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The post BTC Millionaire Shares Outlook on Bitcoin’s Soaring Future; Polkadot and Emerging AI Altcoin Seen as Attractive Investments appeared first on CaptainAltcoin.

Toncoin (TON) was made by the messaging platform, Telegram, however it was abandoned and taken up by the Toncoin (TON) foundation. Toncoin (TON) is regulated by this foundation, it is made up of supporters and enthusiasts. Toncoin (TON) is used to settle payments and validate transactions.

There are already a lot of tokens transferred on the blockchain but Polkadot (DOT) does more than transfer tokens with Polkadot (DOT) any type of data or asset can be sent between projects on the blockchain. This ​​allows for a more connected decentralized market and this is the foundation we need for Web3.

There is a project that all investors have been talking about and it even has Toncoin (TON) and Polkadot (DOT) investors ready to switch their investments. The project is Pushd (PUSHD). Pushd (PUSHD) is the future of the decentralized economy, even experts agree and have predicted that Pushd (PUSHD) will be a top project in 2024.

When will Toncoin (TON) investors get good news?

So far, Toncoin (TON) holders have been steadfast in their loyalty to Toncoin (TON) but with the introduction of Pushd (PUSHD), they are now choosing to switch sides and join a better project. In the last year, Toncoin (TON) spent virtually all its time below the line. Starting the year with a market value of $2.4, we saw Toncoin (TON) drop as low as $1.1 in August of 2023. Even now Toncoin (TON) is below the line, it has lost 14.9% of its value.

Experts do not support Polkadot (DOT) for 2024

The numbers from Polkadot (DOT) do not show that it will be a good project to invest in. Polkadot (DOT) holders are now investing in Pushd (PUSHD), they recognize it as the better project.

Polkadot (DOT) does not have a good track record. In the last week, we have seen Polkadot (DOT) make very quick drops below the line. Polkadot (DOT) is now slightly above the line but experts say to keep an eye on it.

The crypto world is giving Pushd (PUSHD) wrapped attention

Pushd (PUSHD) is the project that everyone has been waiting for, it has not launched yet but it already has over 27,000 people signed up and eagerly waiting for the crypto project to launch. Pushd (PUSHD) is going to be the first decentralized online shopping marketplace. Pushd (PUSHD) people will now be able to buy and sell everyday items with decentralized tokens.

Pushd (PUSHD) is going to be pivotal to the future of the decentralized world because Pushd (PUSHD) makes the digital currency have more real-world applications. There have been transactions with crypto tokens but with Pushd (PUSHD) you can buy physical items with so much ease. Pushd (PUSHD) merges the ease of online shopping with the benefits of the blockchain.

Holders of Pushd (PUSHD) will enjoy the fastest withdrawals and deposits, the lowest transaction fees possible, the most private shopping experience and an all around better place to shop. Pushd (PUSHD) is now in its fifth presale stage and is selling for $0.11. Investors want to get their hands on Pushd (PUSHD) before it sells out of its current presale stage.

Find out more about the PUSHD presale by visiting the website here

The post Big gains being realised in Pushd (PUSHD) presale as more Toncoin (TON) & Polkadot (DOT) investors snap up stage 5 appeared first on Latest News and Insights on Blockchain, Cryptocurrency, and Investing.

The crypto market is currently on a strong uptrend as Bitcoin has surged to its yearly high above $56,000. Bitcoin's impressive rally post-Reddit announcement breathed new life into the altcoin sector as well, with both major and lesser-known tokens enjoying a positive run.

While Bitcoin showed impressive gains in 2023, soaring over 150%, the altcoin space, dominated by Ethereum, almost achieved a market cap of $1 trillion. Amidst this backdrop, opportunities beyond Bitcoin's recent high are emerging, with four selected tokens positioned as top crypto opportunities for stellar returns.

Ride The Wave of Innovation with ScapesMania

The ScapesMania public sale wrapped up, becoming the talk of the crypto community. The project managed to secure over $6,125,000 at an unprecedented rate and there’s a strong probability that the token's value might increase exponentially in the future.

The spotlight has shifted to the Token Generation Event (TGE) coming up on the date that will be announced in the CEO’s AMA on 27.02.2024. The pool of tokens is smaller than it was before, the conditions are better than the market average, so the chance to maximize your potential returns is quickly diminishing. Letting it slip now would be a huge waste, especially since your chance to join is only a click away.

Your Last Chance to Boost Potential Returns Post Listing

The team behind ScapesMania, with years of expertise, has crafted a robust post-listing marketing strategy. Buyback, burn, staking, and all the perks for holders keep attracting new adopters while also ensuring a high level of community engagement. Through DAO governance, backers will be able to influence and benefit from a growing industry.

Moreover, the token's utility is impressive. It's not another meme coin whose success relies heavily on trends and hype. ScapesMania ($MANIA) is a well-balanced, meticulously designed project that acts as a gaming ecosystem. As a player in the multi-billion casual gaming industry, it leverages the market's growth potential. Post-debut, holders can anticipate greater liquidity and easier trading. A solid token management plan will further increase longer-term growth potential. 

The community's excitement about the project is evident so far: the follower count has reached 60K+. Also, the growing interest from crypto whales with deposits of $20,000+ might expedite ScapesMania's transition from niche to mainstream.

ScapesMania's smart contract has received approval from prominent security-ranking firms, ensuring peace of mind for holders. Additionally, the PancakeSwap listing is on the horizon, with CEX listings still in the works.

ScapesMania is also notable for a great cliff vesting structure to prevent token dumping, making sure that supply and demand are well-matched for potential growth.

Make sure you don't pass up the opportunity to leverage all discounts and potentially beat the market with the TGE fast approaching. Be quick if you want to be the first one in line for all the post-listing opportunities, which might be quite lucrative.

>>> TGE ALERT – Keep Up With Latest News <<<

Pyth Network (PYTH): A Beacon of High-Frequency Data in the Crypto Space

Since its listing on BNB, Pyth Network (PYTH) has experienced a notable surge, climbing over 11% in value amidst the growing interest in its platform, providing high-frequency trading data to blockchains. Despite this bullish trend, a decrease in Pyth Network's (PYTH) social volume and weighted sentiment suggested a growing bearish outlook among the community, potentially signaling caution among investors.

The price of Pyth Network (PYTH) showed resilience and growth, particularly after its Binance listing, indicating a bullish sentiment in the short term. However, indicators such as the Relative Strength Index (RSI) and Money Flow Index (MFI) nearing overbought zones could suggest a forthcoming correction.

The future of Pyth Network (PYTH) appears promising yet challenging. If Pyth Network (PYTH) keeps attracting high-quality data providers and expanding its ecosystem, it will be able to prosper. However, the bearish sentiment and potential market corrections pose significant hurdles. The Pyth Network's (PYTH) success will likely hinge on its adaptability and the broader market's acceptance of its data-centric model.

Arbitrum (ARB): Pioneering Scalability and Efficiency

Arbitrum (ARB) made waves as a layer-2 (L2) scaling solution for Ethereum, aiming to enhance its efficiency and reduce its costs. Despite experiencing a dip to an all-time low, Arbitrum (ARB) saw renewed interest, partly due to strategic partnerships and the broader market's recovery. Currently, Arbitrum (ARB) trades around $1.9, reflecting a cautious optimism among investors.

Arbitrum (ARB) price predictions are varied, with some analysts forecasting significant growth in the coming years. Short-term predictions suggest a potential dip followed by recovery, indicating a volatile yet upward trajectory.

Arbitrum's (ARB) future will be marked with even greater success, should it keep developing and gaining adoption. However, competition from other L2 solutions and the inherent volatility of the crypto market are the immediate challenges to overcome.

Starknet (STRK): Revolutionizing Ethereum's L2 Landscape

Starknet (STRK) saw a remarkable 194% increase in Total Value Locked (TVL) shortly after its mainnet launch, signaling strong market trust. Despite controversies around token distribution, Starknet's (STRK) TVL growth indicated a positive reception and trust in its capabilities.

The price of Starknet (STRK) faced downward pressure, attributed to broader market trends and internal challenges. However, an increase in stablecoin supply held by whales suggested potential for price stabilization or growth, contingent on broader Ethereum market movements.

Starknet's (STRK) future depends on the level of developer engagement and market trust. While its innovative technology and recent TVL growth bode well, development activity slowdowns and market volatility could impact its price trajectory. Success will likely depend on Starknet's (STRK) strategic adaptations and the Ethereum ecosystem's overall performance.

Polkadot (DOT): Navigating the Next Phase of Blockchain Interoperability

Polkadot (DOT) faced challenges, with key metrics declining in recent months. However, the announcement of Polkadot 2.0 and significant investments in its development community signal a new growth phase. Currently, Polkadot (DOT) is trading around $8.1, with the market watching closely for the impact of these developments.

Predictions for Polkadot (DOT) price are optimistic, with significant growth expected in the coming years. Short-term forecasts indicate potential volatility, based on a mix of bearish and bullish Polkadot (DOT) technicals.

Polkadot 2.0's goal of improving blockchain interoperability can ensure a promising future for the DOT token itself. However, the lack of clarity on the upgrade's specifics and the competitive landscape poses challenges, so Polkadot (DOT) has to execute its vision and maintain a strong developer community to see its price appreciation.

Conclusion

Bitcoin's surge above $56,000 sees significant players like Pyth Network (PYTH), Arbitrum (ARB), Starknet (STRK) and Polkadot (DOT) emerge as well, each offering unique solutions to address current limitations of blockchain technology. The forefront of innovation in the crypto space is represented by these platforms.

Pyth Network (PYTH), Arbitrum (ARB), Starknet (STRK) and Polkadot (DOT) are poised for stellar returns that can surpass those provided by traditional market leaders. Their success hinges upon three critical factors which are their capacity to solve real-world problems, sustain market trust, and adapt to the swiftly evolving crypto market. Beyond Bitcoin's recent high, Pyth Network (PYTH), Arbitrum (ARB), Starknet (STRK) and Polkadot (DOT) are set to bring even greater profits to investors looking for other fresh opportunities.

Disclaimer: This is a sponsored article and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.

Auckland, New Zealand, May 1st, 2024, Chainwire

Acala Network releases a new technological roadmap displaying the necessary steps in offering multi-chain services to users.

Acala, a foundational platform within the Polkadot ecosystem, unveils the Sinai Upgrade, a significant advancement in its Acala 2.0 initiative aimed at broadening the horizons of the overall crypto financial landscape. This upgrade is set to enhance the platform’s multichain capabilities, setting a new standard for decentralized finance (DeFi) not only on Polkadot, but across any layer 1, 2 or 3 blockchain network.

Multichain Integration and Enhanced DeFi Accessibility

The cornerstone of the Sinai Upgrade is its focus on multichain integration, which facilitates seamless interactions across diverse blockchain environments. Acala dramatically simplifies the user multichain experience through the introduction of their advanced one-click multi-chain cross-stack DeFi feature. This feature leverages pioneering technologies, including XCM (Cross-Consensus Messaging) and Wormhole, to enable straightforward, efficient cross-chain transactions. Users will be able to easily engage in activities like staking, liquidity provisioning, and lending across major blockchain platforms such as Polkadot, Ethereum, Solana, and any select blockchain networks.

Empowering Communities Through Open Governance

Further enhancing its ecosystem, Acala introduces the open governance upgrade, empowering its community with direct involvement in governance decisions. This democratizes the process of ecosystem evolution, allowing users to influence treasury management, DEX listings, and more, fostering a transparent and inclusive community environment.

Security and Performance at the Forefront

The Sinai Upgrade also addresses the critical need for security in the expanding multichain landscape. The launch of Sentinel,

 along with asynchronous backing, bolsters security and increases transaction throughput, ensuring that Acala remains at the cutting edge of blockchain performance.

Strengthening the aSEED Pathway

Accompanying these technical advances, the Sinai Upgrade finalizes the aSEED pathway, facilitating a stable and equitable process for converting and redeeming aSEED tokens. This includes establishing clear redemption criteria, which promises a fair and transparent framework for remaining aSEED holders, reflecting Acala’s commitment to maintaining trust and stability within its community.

Quote from Bryan Chen, Chief Technical Officer at Acala

“The Sinai Upgrade is a testament to Acala’s dedication to enhancing the DeFi ecosystem through robust multichain solutions,” said Bryan Chen. “As a Polkadot-native platform, we are uniquely positioned to lead the charge towards a more interconnected and efficient blockchain universe.”

About Acala

Acala is a premier platform for decentralized finance within the Polkadot network, offering innovative solutions designed to integrate and enhance liquidity across a wide range of blockchain environments. Committed to innovation, security, and community empowerment, Acala leads the way in advancing blockchain technology for global users and institutions.

Contact

PMMTravis WilkersonAcala Networktravis@acala.network

Ljubljana, Slovenia, April 29th, 2024, Chainwire

The explosive rise of Artificial Intelligence has sparked the first stages of a new knowledge revolution, comparable historically with the invention of the printing press or the world wide web. Its sudden growth also pointed at some of the threats and shortfalls such as hallucinations, bias, mishandling of intellectual property rights and even potential AI model collapses. Both the opportunities and challenges of this knowledge revolution are showing the need for convergence between Crypto, Internet and AI in a Verifiable Internet for AI proposed by OriginTrail.

The Verifiable Internet for AI is effectively addressing AI’s shortfalls by decentralizing knowledge that AI systems use in their solutions. One of the pioneering implementations of the approach is Polkabot.AI – a Decentralized AI education hub on Polkadot which will see its full release in the coming months after receiving support from the Polkadot Treasury. 



Spearheading the development of Polkabot.ai is Trace Alliance, a collaborative hub that builds partnerships for creating and leveraging trusted knowledge in the age of AI. The solution is bringing the vision of decentralized AI to reality as it revolutionizes how anyone can interact and learn about the Polkadot ecosystem whether they are a novice getting through the first steps or a seasoned user looking for the latest updates.

It achieves that by allowing a wider Polkadot ecosystem to get involved in creating a trusted knowledge base that Polkabot’s AI system will use to construct its responses. Unlike the solutions using solely generative AI, Polkabot is implementing a novel decentralized Retrieval Augmented Generation (dRAG) approach leveraging the OriginTrail Decentralized Knowledge Graph (DKG).

Instead of Polkabot solely relying on AI to produce a generated response, it uses AI to construct a response using trusted inputs from the DKG populated by the wider Polkadot community. This gives the solution information provenance, respect for data ownership and gives the user a chance to verify each source and its issuer used in the final response. The trusted knowledge Polkabot’s AI systems access will be continuously expanded through community curation and knowledge publishing process called knowledge mining.

The Polkabot.ai initiative received backing through an OpenGov treasury proposal, which was approved on April 23, 2024. As an AI-powered educational platform that tailors learning to each user, PolkaBot.AI represents a significant leap forward in how we interact with Polkadot’s diverse content – whether within the ecosystem or in outward communications – enabling users to access trusted knowledge and get precise responses online.

About OriginTrails

OriginTrail is an ecosystem building Verifiable Internet for AI, aiming to combat misinformation worsened by AI adoption. It ensures the trustworthiness of information by allowing its origins to be tracked verifiably, promoting discoverability and integrity of knowledge for reliable AI. OriginTrail has applications in real-world assets (RWAs), search engines, question-answering systems, and generally knowledge-dependent applications (such as AI systems).

Initially adopted in global supply chains to provide a trusted data sharing hub, OriginTrail now also supports the creation of a trusted AI knowledge ecosystem. It enhances the discoverability of crucial knowledge and verifies information provenance, crucial in the age of misinformation. OriginTrail’s technology is increasingly vital across various sectors, including asset tokenization, construction, healthcare, and the metaverse, due to its ability to authenticate and secure information.

Supported by world-class organizations like the British Standards Institution, SCAN, Polkadot, and Walmart, among others, OriginTrail is enhancing its trusted knowledge network. These partnerships extend its impact across multiple industries, emphasizing its role in advancing a verifiable knowledge web and supporting the economy of RWAs.

Stay updated with the latest developments by following PolkaBotAI on X.

Contact

Martina PoberajOriginTrailoffice@origin-trail.com

The post PolkaBotAI – decentralizing AI with OriginTrail and Polkadot appeared first on Visionary Financial.

Bitcoin, the leading cryptocurrency, has been steadily climbing in value, buoyed by a series of positive developments and investor optimism. Ethereum, often considered the backbone of decentralized finance (DeFi) and smart contracts, has also witnessed a notable uptick in price, reflecting renewed interest in the broader cryptocurrency ecosystem.

One of the notable events driving the market surge is the recent runtime upgrade launch on Polkadot’s mainnet.&middot

For the full story, head over to TheCurrencyAnalytics.com.

Polkadot is expecting to overhaul its Relay Chain protocol in the near future; however, before that happens, it has made a very important upgrade. The protocol called the latest upgrade "Asynchronous Backing," an optimized approach for how parachain blocks are validated by the Relay Chain.

How will Polkadot benefit?

Upgrades on Polkadot are not new as several referendums are being voted on regularly. With Asynchronous Backing, the Relay Chain becomes 2x faster in block production. Additionally, it now becomes 3-5x more extrinsic per block, with a 6-10x boost in blockspace availability.

card

In the Polkadot ecosystem, parachain or sub-blockchains are at the center stage of the blockchain’s innovation. With the latest upgrade, the protocol said parachains will now display a higher block space utilization.

It does not end there as Asynchronous Backing is expected to boost throughput by 8x. While this is important, the protocol said it can achieve this scaling "without sacrificing security, paving the way for supporting Web3 applications across verticals such as gaming and DeFi."

⚡️ Async Backing boosts throughput by 8x, without sacrificing security, paving the way for supporting Web3 applications across verticals such as gaming and DeFi.🎮 It brings Web2 scale into the reach of Web3, which is crucial for large-scale platforms like Mythical Games.

— Polkadot (@Polkadot) May 7, 2024

Polkadot has been driving massive enterprise adoption within its ecosystem through developer-focused innovations. The protocol noted that the throughput this latest update brings onboard is important to support large-scale platforms like Mythical Games.

The upgrade has helped DOT, the native token, sustain its growth over the past week. At the time of writing, the coin is down 1.20% to $7.02; however, the weekly uptick comes in at 11.09%.

Driving Polkadot 2.0

In line with the Asynchronous Backing upgrade, Polkadot said this comes as one of three major tech stacks to usher in its Polkadot 2.0 vision. 

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The community should keep its eyes on "Elastic Scaling" and "Agile Coretime," which look to bring more utility and performance to the Polkadot ecosystem. Besides the massive embrace of the protocol by top exchanges, these upgrades keep the Polkadot blockchain among the most vibrant in the industry.