Menu

Categories:

Hot right now:

Follow on:

Coinsurges provides coverage of fintech, blockchain, and Bitcoin, delivering the most recent news and analyses on the future of money. Stay up-to-date with live prices, charts, and trading options for the top exchanges. Keep track of the day's top cryptocurrency gainers and losers, as well as which coins have experienced gains and losses in the past 24 hours.
Trust Coinsurges as your go-to source for all news and updates in the industry.

Menu

Categories:

Hot right now:

Follow on:

Coinsurges provides coverage of fintech, blockchain, and Bitcoin, delivering the most recent news and analyses on the future of money. Stay up-to-date with live prices, charts, and trading options for the top exchanges. Keep track of the day's top cryptocurrency gainers and losers, as well as which coins have experienced gains and losses in the past 24 hours.
Trust Coinsurges as your go-to source for all news and updates in the industry.

Polkadot rolls out asynchronous backing to boost network efficiency and transaction speed

Share This Post

Polkadot has implemented asynchronous backing, a pivotal upgrade enhancing the network’s flexibility in blockspace allocation and overall performance.

The upgrade is one of the three technological advancements, alongside Elastic Scaling and Agile Coretime, driving the blockchain towards its Polkadot 2.0 vision.

Asynchronous Backing

According to Polkadot, asynchronous backing provides an optimized approach for validating parachain blocks by its relay chain.

The blockchain said the upgrade would introduce a twofold acceleration in blockspace production time and a 3-5x increase in extrinsic per block. It would also lead to heightened utilization of parachain blocks and is projected to enhance blockspace availability by 6-10x.

Furthermore, asynchronous backing would also result in an 8-fold increase in throughput while upholding security standards. This enhancement is expected to support decentralized applications, catering to diverse sectors like Web3 gaming and DeFi.

PolkaWorld, a social media account focused on the Polkadot network, further explained:

“Asynchronous backing greatly increases the system’s flexibility and efficiency, allowing more transactions to be processed in a shorter time, thereby enhancing the overall throughput and responsiveness of the network.”

DOT price unchanged

Polkadot’s asynchronous support didn’t significantly affect DOT’s price, which experienced a slight 1.16% decline in the last 24 hours, settling at $7.06 at press time, according to CryptoSlate’s data.

This represents a reversal of fortunes for a digital asset whose value had increased by around 10% during the past week amid a broader market performance.

Notably, crypto analyst Michaël van de Poppe recently described Polkadot as one of the leading layer1 networks still heavily undervalued.

According to him:

“Polkadot is the second largest blockchain in terms of developers and growth, while the price is still lagging behind. It might the last time it does this, as it aims to provide a solution for the scalability and security issues Ethereum is facing.”

The post Polkadot rolls out asynchronous backing to boost network efficiency and transaction speed appeared first on CryptoSlate.

Read Entire Article
spot_img
- Advertisement -spot_img

Related Posts

Bitcoin’s Sentiment Meter Crashes From ‘Extreme Greed’ to ‘Neutral’

Over the past week, bitcoin slid from $109,000 to its present level of $104,500, and the Crypto Fear and Greed Index has shifted accordingly—easing from a “greed” rating to a more tempered

Crypto Analyst Calls Massive Bitcoin Crash To $50,000

Crypto analyst Altcoin Sherpa recently raised the possibility of a Bitcoin price crash to $50,000 He also commented on the current price action and revealed the price level at which he expects a

Can Dogecoin Price Still Rally 1,000%? Analyst Reveals End-Of-Year Prediction

A crypto analyst has forecasted a potential 1,000% rally for the Dogecoin price by the end of the year, suggesting that the leading meme coin could not only reach the coveted $1 milestone but blast

Ethereum and Solana Staking ETFs Move Closer to US Listing

Rex Shares has filed an effective prospectus with the US Securities and Exchange Commission (SEC) for its solana ( SOL) and ethereum ( ETH) staking exchange-traded funds (ETFs) Rex Shares’ Unique

Expert Explains Why Fed Rate Cuts Are Not Imminent — Should Bitcoin Faithfuls Hold On?

Bitcoin and the broader crypto market have failed to find relief despite favorable Core Personal Consumption Expenditures (PCE) data in the United States According to data from CoinGecko, the total

Bitcoin Sharpe Ratio Says It’s Time For ‘Cautious Optimism’ — Further Upside Growth Incoming?

The price of Bitcoin has dropped by nearly 4% over the last seven days, indicating the waning bullish momentum in the largest cryptocurrency market This recent sluggishness has called into question
You have not selected any currencies to display