The Polkadot crypto project decided to introduce the next generation of this Polkadot network & allow people to use Polkadot with more flexible ways.
Polkadot is a popular decentralized crypto blockchain network. This crypto blockchain network was designed to enable interoperability between multiple crypto networks easily. In 2016, this crypto project was founded by Dr. Gavin Wood, a co-founder of Ethereum and the creator of its programming language, Solidity.
In May of this year, the Polkadot team introduced the concept of Polkadot 2.0, to confirm that they’re going to increase the ability & add new functionality to the Polkadot Blockchain. During the initial Polkadot2.0 announcement, Polkadot leadership informed about their plan to introduce a more flexible system for allocating block space, where developers can purchase block space based on their needs so that their corresponding products can use computational resources based on actual demand.
On 29 Nov 2024, Parity Technologies, the developers behind Polkadot, confirmed that Polkadot2.0 will come in Q1 2025.
Also, they informed us that the new version of Polkadot included the main features of Async Backing, Agile Coretime, and Elastic Scaling.
Polkadot executive Emil Kietzman informed us that the whole development-related work had been done & now the developers are working on Agile Coretime & Elastic scaling.
$Dot price action
The current trade price of the $Dot coin is $8.9 & this price level is 34% higher over the last 7 days period.
According to Rekt Capital, the $Dot coin crossed the $8.60 resistance level and is now retesting this level to establish a new support level.
In 2021, the $Dot coin successfully retested this level & the price pumped rapidly & also hit all-time highs. For this year, the $DOT coin needs a successful retest and a strong monthly close above this level.
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