Polkadot (DOT) Ecosystem Recap: Here are the Latest Advancements

TL;DR

• Polkadot has recently improved its network performance, significantly boosting the speed and capacity for processing transactions.
• In addition to its technical advancements, the protocol is exploring a potential $8.8 million sponsorship deal with the American soccer club Inter Miami.

What’s New Around Polkadot?

The blockchain protocol made the headlines in the past few days due to completing some important advancements. As CryptoPotato  reported , it enabled Asynchronous Backing on the network. The mechanism represents “an optimized approach for how parachain blocks are validated by the Relay Chain.”

The Relay Chain is the central chain and is of critical importance to the Polkadot’s ecosystem. It facilitates communication and interoperability between the different parachains and handles the inter-chain messaging passing (XCMP) protocol. 

Polkadot’s team announced that blocks are produced twice as fast following that upgrade, while available blockspace was boosted by 6-10 times. “3-5x more extrinsic per block and higher utilization of parachain blocks” are two additional consequences of the development.

“Async Backing boosts throughput by 8x, without sacrificing security, paving the way for supporting Web3 applications across verticals such as gaming and DeFi. It brings Web2 scale into the reach of Web3, which is crucial for large-scale platforms like Mythical Games,” the team stated.

The Previous Endeavors

Several weeks ago, Polkadot released the Join-Accumulate Machine (JAM) Gray Paper. It represents a prospective design to foster the advancement of the Relay Chain and combines 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 major development that has not yet seen the light of day is the possible partnership between Polkadot and the American soccer club Inter Miami. Nico Zini – Partnership Marketing and Media Rights for the sports team CF –  revealed  that the team may join forces with the blockchain protocol on an $8.8 million sponsorship deal. 

For the uninitiated, Inter Miami’s biggest star is the Argentine legend Lionel Messi, while its co-owner is David Beckham. 

This is Polkadot’s  second attempt  to enter the soccer world. Two years ago, it had a chance to become FC Barcelona’s official jersey sponsor. However, the Catalan club eventually chose Spotify.