Polkadot is a protocol focused on connecting different blockchains. It makes it possible to bridge incompatible networks and send value and data. For some time now, the developers behind this project have been planning to give it a new dimension. This will translate in particular by improving the speed of exchanges. What is it really ?
Polkadot will become a faster and better platform
On September 26, the Polkadot crypto ecosystem announced that it had updated its operational roadmap. This involves the deployment of a technique called ” asynchronous backing on his Kusama testnet. This will also allow the chain of relays to build blocks simultaneously. The operation will take place before the end of the year and is part of the efforts of the Polkadot developers to upgrade the mainnet, in order to increase the speed of transactions on it.
The new technology will to increase the network speed of 100,000 to 1,000,000 transactions per second. This compared to the network speed which is currently 1,000 TPS, according to crypto exchange Coinbase. According to Polkadot, the technology will also allow the parachain block time to be cut in half, i.e. to six seconds.
Finally, it will promote a five to tenfold increase in the amount of block space available for each block. Separately, Polkadot announced that the roadmap includes a series of upgrades related to scalability, communication between different networks, expense calculation, governance, and staking. All of these enhancements will normally be available to users by mid-2023.
Last week it became known that the stablecoin Tether (USDT), which is the largest in the crypto ecosystem by market capitalization, would be listed on Polkadot. The news boosted the price of Polkadot (DOT); which opened higher on Tuesday on the exchanges. The crypto price is likely to continue in this direction with the news of the rollout of tools that will improve trading speed.
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