Polygon saw a massive price surge after developers deployed elastic scaling on Kusama, Polkadot’s canary network. This increase combines asynchronous support and agile coretime, both of which were adopted in 2022, to deepen network capabilities. This means the SEC accepted the filing for a Polkadot-related ETF. This, in conjunction with other recent developments, further enhances the good vibes surrounding the blockchain.
Elastic scaling on Kusama would allow resources to be allocated according to what the network demands at any given time. Asynchronous backing, an innovation first implemented last year, brought parallel transaction validation to the network. This innovation dramatically boosts transaction throughput by enabling four times as much data as currently fits into a storage block.
The recent actions come at the same time as favorable movement in the regulatory environment. 21Shares has a Polkadot ETF filing pending acceptance by the SEC. Grayscale and 21Shares currently have pending applications for DOT funds approval.
Through the implementation of agile coretime, aggressive distribution of computing power can be achieved. These complex upgrades work together in tandem to radically improve the network’s scalability, speed and efficiency. The DOT token price of Polkadot’s native DOT token mirrored these encouraging developments, showing a substantial upward spike.
While there is still much work to be done, these technological advancements and regulatory steps signal a potentially bright future for Polkadot. Investors, innovators, techies, futurists, and everyone in between are eagerly awaiting the next steps. The cumulative impact of elastic scaling and prospective ETF chalk outs would further entrench Polkadot’s nascent leadership position in the blockchain space.
