- Polkadot 2.0 is expected to be launched in Q1 2025.
- Polkadot crypto price has surged 35% over the past seven days.
Polkadot 2.0, a significant upgrade of the Polkadot network, is set to launch in Q1 2025. It aims to enhance the scalability and developer experience of the blockchain ecosystem.
This significant addition is expected to solidify the platform’s role as a blockchain. It will add more depth to its functionality for creating middleware between blockchains.
Analysts believe that the upgrade can significantly impact the decentralized application developer’s take-up and ramp-up transaction capacity. This will make it a potent force in the blockchain sphere.
Polkadot strives to provide state-of-the-art technological innovations. With this, the crypto community looks forward to Polkadot 2.0‘s release. The community is keeping an eye out for possible new investments and innovation possibilities.
How Polkadot 2.0 Will Revolutionize Blockchain Scalability
The current upgrade, as described by Parity Technologies, will include three features – Async Backing, Agile Coretime, and Elastic Scaling. The first two features have been successfully used in the current network.
The team is focusing on developing Elastic Scaling for a release in Q1 2025. However, users can utilize the early version. It is currently being tested on the Kusama Network.
“The last component of the Polkadot 2.0 framework is Elastic Scaling. Projects will not only be able to submit a number of Cores to complete one task but also reduce block time and add additional Cores if a project is experiencing issues with throughput,” Polkadot’s executive Emil Kietzman wrote on X.
These features will decrease the time taken for a block from twelve seconds to six seconds, enhancing the number of transactions. Using Polkadot 2.0, DApps of other projects will be able to request access to resources in the network instead of bidding for a parachain slot.
More importantly, Elastic Scaling will enable the network to grow and shrink depending on the demand. These improvements on Polkadot 2.0 could reduce the hurdles towards entry for developers.
DOT Price Prediction: Is $10 Breakout Imminent?
DOT price prediction represented a bullish stance. Furthermore, the token displayed a significant price rally over the weekend, surging more than 35%. It is now eyeing to cross the $10 mark and aims for a breakout.
Polkadot crypto exchanged hands at $8.89 at press time. The token noted an intraday rise of over 1.90%. Its market cap surged to $13.53 Billion, ranking 15th among the top crypto coins.
A recent tweet by Rekt Capital reflected a bullish stance on Polkadot. The DOT price has been recorded as being close to the black $8.60 resistance weekly. A significant price rally could be anticipated in the upcoming sessions if it retests the black line and gives a monthly close above it.
If the DOT price is above the $9 level, it might strike the $10 mark and could register a breakout shortly. The leading and lagging indicators stayed positive and represented bullish cues. A positive crossover on the MACD indicator conveyed that buying pressure has outpaced the selling pressure.
Additionally, future market data favor bullish cues. The Open Interest (OI) has risen over l7.73%, reflecting long buildup activity over the last 24 hours. The immediate support zones for Polkadot crypto were $8.10 and $7.50. At the same time, the resistance levels were $9.30 and $10.
Disclaimer
In this article, the views, and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.
