- Despite the release of the significant update, Polkadot’s native DOT coin saw a slight 1% decline.
A crucial improvement that has improved the network’s overall performance and flexibility in blockspace allocation is Polkadot’s implementation of asynchronous backing.
Together with Elastic Scaling and Agile Coretime, the upgrade is one of the three technological developments that are propelling the blockchain toward its Polkadot 2.0 goal.
Synchronous Support
Polkadot claims that asynchronous backing offers an efficient method for the relay chain’s parachain blocks to be validated.
According to the blockchain, the update would result in a 3-5x increase in value per block and a twofold acceleration of blockspace production time. It is also expected to increase blockspace availability by 6–10 times and result in increased use of parachain blocks.
Moreover, while maintaining security standards, asynchronous backup would lead to an eight-fold improvement in performance. It is anticipated that this improvement would facilitate decentralized apps, serving a variety of industries such as Web3 gaming and DeFi.
DOT pricing is the same
Polkadot’s asynchronous support had no discernible impact on the price of DOT, which, according to CryptoSlate data, had dropped by 1.16% in the previous day to settle at $7.06 at the time of writing.
For a digital asset, this is a reversal of fortune as its value had risen by almost 10% over the previous week amidst a general performance in the market.
Notably, Polkadot was recently characterized by crypto researcher Michaël van de Poppe as one of the top layer 1 networks that is still significantly undervalued.
Disclaimer : This article was created for informational purposes only and should not be taken as investment advice. An asset’s past performance does not predict its future returns. Before making an investment, please conduct your own research, as digital assets like cryptocurrencies are highly risky and volatile financial instruments.
