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Polkadot has completed and shared the official release of Polkadot 1.0, marking the completion of the Polkadot whitepaper. Additionally, the network's codebase has fully transitioned to repositories managed by the community through Polkadot OpenGov and Technical Fellowship.
The next version of Polkadot, known as Polkadot 2.0 as recognized by the community, will be discussed and decided upon through community deliberation and consensus. Polkadot founder Gavin Wood has proposed some ideas, such as providing additional, more flexible, and capital-efficient mechanisms for block space allocation in Polkadot, surpassing the parachain model, and creating 'accords,' optional protocols for multiple blockchains to join.
Furthermore, in his year-end review, Gavin Wood outlined Parity's core technical priorities. These priorities include Agile Coretime, On-demand parachains, Ethereum Snowbridge, and Kusama Bridge. The fifth technology, Elastic Scaling, is also expected to be introduced in 2024. Additionally, the expansion of DAO primitives, including new fellowships, multi-asset sub-treasuries, expanded XCM, and the development of new primitives, is underway. Sassafras, a forkless block production consensus algorithm, has been developed and will undergo testing in 2024. Parity is actively researching various new technologies, including CoreJam, to continue shaping the future of the network.
In summary, Polkadot ended 2023 with strong momentum, with significant growth across key metrics. Quarterly active addresses on parachains grew by 93%, reaching 200,000. The top three parachains are Moonbeam, Nodle, and Astar. Additionally, XCM transfer volume increased by 150% quarterly, reaching a historic high of 133,000. By the end of the year, the total number of active XCM channels reached 203, almost tripling in 2023.
On the development front, Polkadot continues to be one of the largest developer ecosystems. Notably, Cardano announced plans to adopt Substrate, and the Decentralized Future Initiative announced a $20 million fund, while the Polkadot Blockchain Academy expanded its influence in the Asia-Pacific region.
Looking ahead to 2024, Polkadot 2.0 will be shaped by its community. Polkadot founder Gavin Wood has proposed several forward-looking suggestions, including Agile Coretime, On-demand parachains, Ethereum Snowbridge, and Kusama Bridge. The fifth technology is Elastic Scaling. The Polkadot network is expected to have another strong year of development. |
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Post time 19-2-2024 20:49:37