Less than 24 hours away by 2021, Dot creator Gavin Wood says the project has generated a lot of steam on the way to the new year. In a 2020 to round up Published on Wednesday, Wood highlighted Polkadot’s rise to become the number crypto for staking based on the volume of tokens wagered.
According to at Stakingrewards.com, more than 63% of the 1.02 billion DOT token supply is tied up in strike wallets. This percentage is approximately $ 5.2 billion in DOT “coins” wagered based on the current token price.
Polkadot is indeed one of the best performing top 10 altcoins in December. Since the beginning of the month, the DOT token price has risen more than 56% and is now ranked sixth by market capitalization. Wood also highlighted the project’s achievements in terms of full decentralization, adding:
“With 274 validators, run by approximately 200 independent operators and supported by more than 7,000 individual nominating accounts, Polkadot is arguably the most decentralized high-performance (and thus secure) network in existence.”
As a multichain interoperability protocol, bridging and connectivity remain an important measure of the success of the project. According to Wood, 2020 saw the rise of projects such as Acala and Moonbeam aimed at enabling Ethereum compatibility.
Acala is Polkadot’s foray into the decentralized financial space, or DeFi, while Moonbeam is an Ethereum compliant smart contract implementation toolkit.
Polkadot’s blockchain building framework, Substrate, showed integration capabilities at the protocol level as early as 2020. Substrate 2.0 launched in August with features such as “off-chain worker.”“allowing developers to access information from outside the blockchain without the need for external oracles.
According to Wood, Polkadot’s development grew significantly in 2020 with the community with more than 100 teams and projects working on various use cases. “China alone has more than 30 teams building systems, projects and components for the Polkadot ecosystem,” Wood added in the 2020 collection.
In November The Chinese Blockchain service network has added Polkadot on the list of supported public blockchains.
To address plans for the new year, Wood identified ongoing work on cross-chain interoperability as a key focus for 2021. According to Polkadot’s founder, Substrate 3.0, which will bring Ethereum compatibility, should be released before the first half of next year. .