Polkadot 2.0 is coming

[ad_1]

Polkadot 2.0 is coming
Polkadot 2.0 is coming

This year is an important turning point for Polkadot (point). A closer look at Season 3 reveals the network’s strengths and weaknesses.

Polkadot 1.0 completed

According to a recent analysis conducted by Messari, Polkadot made significant progress in the third quarter of this year, highlighting some key developments.

The report demonstrates some important progress, including the completion of the final report. The completion of the white paper also marks the completion of Polkadot 1.0.

Additionally, this sparked discussions about Polkadot 2.0. Additionally, networking has introduced various enhancements such as asynchronous backups.

Additionally, a notable improvement metric is the DOT staking rate. This ratio increased by 12% month-on-month to 49%.

However, this increase results in a decrease in staking rewards. In addition, it also caused the annual project yield to fall by 12% to 15% compared with the previous quarter.

Despite these positive developments, the report also revealed a trend of fewer active addresses on the network.

Daily active addresses decreased quarterly, with 6,900 addresses at the end of the first quarter. It fell to 5,800 at the end of the second quarter and further fell to 5,200 in the third quarter.

Developer activity maintains momentum

According to the development activity diagram analysis, Polkadot has always maintained a high level of developer contribution.

This chart shows a history of high developer activity on the network. Even so, a slight drop can be noticed at the time of writing.

Polkadot DOT November 41, 2023 February 4

Additionally, development activity is likely to increase. This increase is possible due to ongoing discussions about a new version of the network.

Developer activity is likely to increase once this new iteration is launched.

Polkadot’s fortunes improve

Looking at Polkadot’s daily price trend chart, its value declined at the end of the third quarter, during which time the value of DOT dropped significantly, falling by more than 22%.

In early July, it was trading around $5.35, but fell to around $4.11 by the end of September.

DOTUSD 2023 11 04 12 21 07

However, during the quarter, Polkadot’s performance improved. Value has increased significantly by over 9% year to date. As of this writing, it is trading at around $4.7, up slightly less than 1%.

Furthermore, it is currently in an uptrend as shown by the Relative Strength Index (RSI). It is trending just below the 80 level, indicating a very strong uptrend.

General Bitcoin News.



[ad_2]

Source link

Related Posts

NEAR and Polygon collaborate on zero-knowledge proof innovation

[ad_1] The NEAR Foundation has partnered with Polygon Labs to develop zkWASM, a cutting-edge zero-knowledge solution that enhances the interoperability and security of WASM chains. The NEAR…

Amazon, Olympus challenges OpenAI, Microsoft’s AI dominance

[ad_1] Amazon, Olympus challenges OpenAI, Microsoft’s AI dominance AmazonThe world’s largest online retail and technology provider, through its web services arm AWS (Amazon Web Services), recently revealed…

Financial giant Fidelity responds to 9 common misconceptions and criticisms about Bitcoin

[ad_1] Financial services giant Fidelity has addressed nine common criticisms and misconceptions about Bitcoin, highlighting that some of them are “unfounded or unlikely to be…

Third-quarter profits lower, revenue higher, according to Investing.com

[ad_1] ©Reuters. Lyft reports: Third-quarter profits down, revenue up Investing.com – Lyft (NASDAQ: ) on Wednesday reported third-quarter results that missed analysts’ expectations and revenue that beat…

CEHV partners say future uncertain during Genesis shutdown

[ad_1] Many analysts are speculating on the outcome of the spot Bitcoin ETF race, and CEHV partner Adam Cochran shared his views in a Nov. 8 X…

Second-quarter profits lower, revenue higher, according to Investing.com

[ad_1] ©Reuters. Take-Two reports: Second-quarter profits fall, revenue rises Investing.com – Take-Two (NASDAQ: ) on Wednesday reported second-quarter results that missed analysts’ expectations and revenue that beat…

Trả lời

Email của bạn sẽ không được hiển thị công khai. Các trường bắt buộc được đánh dấu *