With 2021 lower than 24 hours away, Polkadot creator Gavin Wooden says the challenge has constructed up a head of steam heading into the brand new 12 months. In a 2020 roundup revealed on Wednesday, Wooden highlighted Polkadot’s rise to turning into the quantity crypto for staking based mostly on the quantity of staked tokens.
In response to Stakingrewards.com, over 63% of the 1.02 billion DOT token provide is locked in staking wallets. This proportion quantities to about $5.2 billion in staked DOT “cash” based mostly on the present token worth.
Certainly, Polkadot is without doubt one of the finest performing top-10 altcoins in December. Because the begin of the month, the DOT token worth has gained over 56% and is now the sixth-ranked cryptocurrency by market capitalization. Wooden additionally highlighted the challenge’s achievements within the space of achieving full decentralization, including:
“With 274 validators, run by round 200 unbiased operators and backed by over 7,000 particular person nominating accounts, Polkadot is arguably essentially the most decentralized high-value (and due to this fact safe) community in existence.”
As a multichain interoperability protocol, bridging and connectivity stay a significant yardstick for figuring out the challenge’s successes. In response to Wooden, 2020 noticed the emergence of tasks like Acala and Moonbeam geared in the direction of enabling Ethereum compatibility.
Acala is Polkadot’s foray into the decentralized finance, or DeFi, house whereas Moonbeam is an Ethereum-compatible toolkit for sensible contract deployment.
Polkadot’s blockchain constructing framework, Substrate, already confirmed protocol-level integration capabilities in 2020. Substrate 2.zero launched in August with options like “off-chain employee” permitting builders to entry info from exterior the blockchain while not having exterior oracles.
In response to Wooden, Polkadot’s growth in 2020 grew considerably with the neighborhood boasting over 100 groups and tasks engaged on various use instances. “China alone has over 30 groups which might be constructing techniques, tasks, and elements for the Polkadot ecosystem,” Wooden added within the 2020 roundup.
Again in November, China’s Blockchain Service Community added Polkadot to its checklist of supported public blockchains.
Addressing plans for the brand new 12 months, Wooden recognized ongoing work on the cross-chain interoperability entrance as a significant focus for 2021. In response to the Polkadot founder, Substrate 3.zero which is able to carry Ethereum compatibility may launch earlier than the top of the primary half of subsequent 12 months.