A pioneer in the world of blockchain gives its forecast for 2022 for an altcoin that has had a breakout year in terms of both price and project milestones.
In a new blog post, Ethereum co-founder Gavin Wood discusses the future of the Polkadot (DOT) cross-chain interoperability protocol, which he founded in 2016.
“More than any year before, 2022 marks the beginning of our next chapter in Polkadot’s history. We’ll bring to life the prospect of scaled-up hyperconnectivity under a single security roof that Polkadot offers as more Parachain teams win auctions and join the Polkadot party.
With more than 150 multi-purpose chains under development, many of which are already armed with test nets, there is much to be expected. We can also look forward to the introduction of decentralized bridges, first the Parity bridge, which will connect Polkadot to Kusama, and later that of Snowfork, which will connect Polkadot to Ethereum. “
Wood says Polkadot intends to optimize its core code as well as work to lower network costs and reduce latency issues.
“Our goal is to enable each of the Polkadot parachains to move up towards our 1,000 sTPS [standard transactions per second] per shard target.
Additionally, the Polkadot team’s efforts are focused on the parathreaded feature, which allows non-auction teams to still maintain the security guaranteed by Polkadot and take full advantage of XCMP [cross-chain message passing]. “
The price of the DOT climbed from a January low below $ 10 to highs above $ 49 in May and $ 55 in November, but has corrected significantly since then. The 10th crypto asset is currently trading for $ 27.36.
The founder of Polkadot also emphasizes a commitment to rooting out scammers from the crypto space.
“In 2021, people from the Web3 Foundation and Parity Technologies came together to form the Anti-Scam Team determined to stop fraudulent rule and make Polkadot a safe ecosystem for its stakeholders. An additional $ 130,000 was spent by the Polkadot Treasury and the Web3 Foundation on fighting fraud.
Over the year, a total of nearly a thousand websites and other scams were removed, with more than 460 scam sites identified by the community. The Phishing Repository, a comprehensive list of websites and addresses involved in phishing and scams, now has more than 2,300 entries.
In 2022, the Anti-Scam Community Initiative will evolve to cover much more than just scam sites, be community driven, collaborate with other ecosystem projects and teams, and lay the foundations for the first on-chain and decentralized anti-fraud campaign to lay. ”
Wood concludes by highlighting Polkadot’s successful fundraising initiatives over the past year.
“Our ecosystem continues to grow rapidly from an investment perspective too – we estimate it now has around 350 teams (that’s about 250 more from last year’s estimate).
In 2021 alone, around 50 of them raised over $ 670 million in early-stage funding (seed rounds and Series A). “
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