TL;DR
- Polkadot’s ecosystem witnessed numerous advancements in the past week, such as the Sinai Upgrade on the parachain Acala Network.
- The protocol’s native cryptocurrency – DOT – has shown solid performance, rising by 3% on a 7-day scale despite the recent market decline.
Polkadot’s Latest Progress
One of the most popular parachains built on Polkadot – Acala – has seen some major news over the past few days.
It recently completed the Sinai Upgrade, which aims to enhance the network’s functionality and security.
The development sets a new standard for decentralized finance (DeFi) not only on Polkadot but across any layer 1, 2, or 3 blockchain solutions. The upgrade consists of three routes: liquidity track, infrastructure track, and aSEED track.
Concerning Polkadot, in particular, is the release of the Join-Accumulate Machine (JAM) Gray Paper. It happened place late in April, combining elements of Polkadot and Ethereum.
“JAM provides a global singleton permissionless object environment—much like the smart-contract environment pioneered by Ethereum—paired with secure sideband computation parallelized over a scalable node network, a proposition pioneered by Polkadot.” the team explained at the time.
Another huge development that has not yet occurred is the potential collaboration between Polkadot and the American soccer club Inter Miami. In April, Nico Zini – Partnership Marketing and Media Rights for Inter Miami CF – revealed that the team may join forces with Polkadot on an $8.8 million sponsorship deal.
The sports club significantly increased its popularity in the past few years by signing renowned names in the soccer world, such as the Argentine legend Lionel Messi and the Uruguayan star Luis Suarez. The team’s co-owner is another well-known person, David Beckham.
DOT Price Outlook
Speaking of Polkadot, its native coin – DOT – sort of defied the predominantly bearish market sentiment, rising by 5% on a two-week scale. Currently, the asset’s price is around the $7 mark (per CoinGecko’s data).
One analyst who is quite bullish on DOT is Michael van de Poppe. The X user, with over 700K followers, recently praised Polkadot for its multichain setup that “eliminates transaction bottlenecks and increases more efficient AI computations.”
Earlier this week, he described the protocol as a “promising blockchain” outside Ethereum. In April, he touched upon DOT’s “fundamental progress,“ adding the token to his personal portfolio.
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