Recently, the price of Polkadot has continued to set new highs, and its market value has exceeded 7 billion US dollars. With the rapid increase in Polkadot's transaction volume and the mature application of cross-chain technology in various projects, Polkadot will also release the huge potential of parallel chains in the future.
transaction volume surge
transaction volume surge
The Polkadot network has more than 60,000 active accounts, with an average of 500 to 1,500 new accounts added every day.
As of today, 530,000 transactions have been executed, and the average number of transactions processed per day is approximately 3,000–3,500. The net inflow of funds in a single day reached 6.8296 million US dollars, and the turnover reached 726.2 million US dollars.
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50% increase in the number of projects
In just four months, the number of Polkadot ecological projects increased by 50%;
At the end of August 2020, the total number of Polkadot projects is 200;
From September 1st to November 15th, 2020, the number of projects reached 285. In just three months, the number of projects increased by 40%;
From September 1st to December 2nd, 2020, the number of Polkadot ecological applications has reached 300.
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technological breakthrough
The Polkadot parallel chain structure is built on the Substrate framework. It is a next-generation blockchain technology built with technologies such as sharding and parallelization for Ethereum congestion and high fees.
The proposal of the Polkadot cross-chain concept allows everyone to see the possibility of intercommunication between BTC and ETH.
At the same time, cross-chain technology is also maturely used in various projects-because it is difficult for a single public chain to continue to develop, it is necessary to solve the problem of inconvenience for people to use through interoperability.
The true potential of blockchain will only be unlocked when the ecosystem can leverage the strengths of each chain for resource sharing and value transfer.
At present, the parachain test network Rococo-V1 has been launched and running.
If the testnet Rococo-V1 goes well, it will promote the release of parachain functions on the Polkadot and Kusama networks as soon as possible.
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Prices hit record highs
DOT debuted on the crypto market in August at a price of around $3;
About a month later, Polkadot completed the DOT split, and the price continued to rise, rising to $6.8;
The price then fell below $4 before rising again above $5 in recent days;
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The market value exceeded 7 billion US dollars
Back in August, the blockchain cross-chain project Polkadot hadn’t even entered the top 100 cryptocurrency rankings.
Today, four months later, Polkadot has advanced to sixth place.
Pledge amount
Pledge amount
At present, the value of DOT pledged by Polkadot is close to 4 billion US dollars. The proof-of-stake-based cryptocurrency is compared with the total value of pledged tokens of all current projects—according to the block’s November 13 statistics, the total value of Polkadot’s pledged DOT ranks first.
It is worth noting that the total market capitalization of DOT is approximately $7 billion, so more than half of DOT will be staked.
This also means that the actual amount of DOT circulating on the exchange market is minimal compared to the amount in circulation, since purchased tokens are effectively locked.
