1. BITBILIHome
  2. Article

Polkadot reveals plans to support 1000 parachains—here’s everything you need to know

• 85 views

TL;DR Breakdown

  • Polkadot announced plans to significantly scale its operations, aiming to triple its number of validators to around 1,000 by the end of 2024 through a feature called “Asynchronous Backing.”
  • The feature will be deployed on Polkadot’s Rococo testnet in about two weeks and is part of Polkadot’s roadmap to support 1,000 parachains and over a million transactions per second.
  • New architectural components, termed “agile core time” and “elastic scaling,” were also introduced at the sub0 developer conference, aiming to expand the network beyond the existing parachain model.

Description

Polkadot, a leading player in the blockchain ecosystem, has unveiled plans to scale its operations dramatically. The announcement came at the sub0 developer conference in Lisbon, where Sophia Gold, Engineering Lead at Parity Technologies, introduced “Asynchronous Backing.” This feature aims to triple the number of Polkadot validators to around 1,000 by the end of 2024. … Read more

Polkadot, a leading player in the blockchain ecosystem, has unveiled plans to scale its operations dramatically. The announcement came at the sub0 developer conference in Lisbon, where Sophia Gold, Engineering Lead at Parity Technologies, introduced “Asynchronous Backing.” This feature aims to triple the number of Polkadot validators to around 1,000 by the end of 2024. Consequently, the development is poised to be a pivotal moment in the evolution of parachain consensus since its launch two years ago.

Asynchronous Backing is a transformative scaling solution. It will enable flexible scheduling for future scaling work through mechanisms known as “elastic scaling” and “instantaneous core time.” 

Moreover, the feature is set to be deployed on Polkadot’s Rococo testnet in approximately two weeks. This aligns with Polkadot’s ambitious roadmap to support 1,000 parachains and facilitate over a million transactions per second. Additionally, the feature is integrated at the protocol level, ensuring both capital efficiency and resistance to censorship.

More innovations in Polkadot’s architecture

Robert Habermeier, co-founder of Polkadot, elaborated on new architectural elements during the conference. These elements, termed “agile core time” and “elastic scaling,” aim to optimize Polkadot’s blockspace and computational resources. 

Habermeier presented a proposal for a process that would enable a broader range of activities than just parachains. This includes the capability to deploy smart contracts directly to a Polkadot core. Hence, these innovations are designed to cater to developers at various stages and expand the network beyond the existing parachain model.

The conference also featured updates from OpenZeppelin regarding the OpenBrush contract library. This library is crafted to simplify the development of Polkadot’s native ink! smart contracts. OpenZeppelin’s team is working on open-source parachain runtimes and underlying FRAME pallets. These efforts aim to accelerate the creation and deployment of secure new parachains. 

Furthermore, Zondax, a prominent software developer for the Ledger hardware wallet, is in the process of developing a Ledger app for Polkadot. This app will rely on verifiable metadata and support any parachain in the Polkadot ecosystem, thereby enhancing the cold wallet user experience.

Polkadot’s announcements at the sub0 conference underscore its commitment to scalability and innovation. With plans to significantly increase the number of validators and support a vast array of parachains, Polkadot is preparing for a future that promises both scalability and versatility. 

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

文章来源于互联网:Polkadot reveals plans to support 1000 parachains—here’s everything you need to know

Disclaimers:

1. You are solely responsible for your investment decisions and this info is not liable for any losses you may incur.

2. The copyright of this article belongs to the writer, it represents the writer's opinions only, not represents the site's ones. Not financial advice.

Previous 2023年9月23日 19:43
Next 2023年9月23日 22:26

Related articles

  • Western economies doomed by de-risking from China

    TL;DR Breakdown ‘De-risking’, a buzzword suggesting the West’s potential distancing from China, could backfire and harm Western economies. ‘De-risking’ mirrors the West’s intent to hinder China’s economic rise. Replacing China’s trade and investment partnership immediately is unfeasible due to its established global economic and technological prominence. Description A new buzzword, ‘de-risking’, is entering the economic vernacular of the West, and its implications could prove disastrous for these economies if it translates into distancing from China. This move follows the 10th anniversary of China’s Belt and Road Initiative (BRI), a global platform for cooperation that has gathered significant recognition and has been appreciated … Read more A new buzzword, ‘de-risking’, is entering the economic vernacular of the West, and its implications could prove disastrous for these economies if it translates into distancing from China. This move follows the 10th anniversary of China’s Belt and Road Initiative (BRI), a global platform for cooperation that has gathered significant recognition and has been appreciated worldwide for the solutions it offers to global development and governance reform. The de-risking dilemma Over the last couple of…

    Article 2023年6月23日

  • White House opposition derails negotiations on US stablecoin bill

    TL;DR Breakdown US stablecoin legislation negotiations have stalled, with the White House blamed for the impasse. Disagreements between Republicans and Democrats have emerged, with concerns about state regulators approving stablecoin issuances without Federal Reserve input. The lack of bipartisan agreement could harm the legislation’s chances of becoming law, with the Federal Reserve and the U.S. Treasury Department reportedly not supporting the current bill. Description The US House of Representatives has hit a roadblock in its efforts to create a comprehensive framework for payment stablecoins. The negotiations have stalled, with Republicans blaming the White House for the impasse. House Financial Services Chair Patrick McHenry announced that progress had stalled due to opposition from the White House. Despite the bipartisan efforts, … Read more The US House of Representatives has hit a roadblock in its efforts to create a comprehensive framework for payment stablecoins. The negotiations have stalled, with Republicans blaming the White House for the impasse. House Financial Services Chair Patrick McHenry announced that progress had stalled due to opposition from the White House. Despite the bipartisan efforts, the White House’s…

    Article 2023年7月28日

  • Is Joe Biden responsible for the downfall of US dollar?

    TL;DR Breakdown Economist Jim Rickards blames President Biden’s administration for potentially weakening the US dollar as a reserve currency. A proposed common currency for the BRICS bloc (Brazil, Russia, India, China, South Africa) could challenge the dollar’s global standing. The merger of BRICS and the Shanghai Cooperation Organization (SCO) could further pressure the dollar’s status as a primary reserve and transactional currency. Description The monetary strategy of President Joe Biden’s administration has been under a blistering microscope, with claims that the future of the US dollar as a reserve currency could be in jeopardy. Prominent economist and renowned author, Jim Rickards, is at the forefront of this critique, attributing potential damage to the dollar to Biden’s leadership. Rickards, … Read more The monetary strategy of President Joe Biden’s administration has been under a blistering microscope, with claims that the future of the US dollar as a reserve currency could be in jeopardy. Prominent economist and renowned author, Jim Rickards, is at the forefront of this critique, attributing potential damage to the dollar to Biden’s leadership. Rickards, whose investment expertise spans…

    Article 2023年7月12日

  • House Financial Services Committee leadership asks Fed to cease undermining stablecoin legislation

    TL;DR Breakdown House Financial Services Committee leadership have addressed a letter to Jerome Powell, the Fed Chair, expressing strong criticism of the Fed’s recent moves towards regulating stablecoins. The joint statement alleges that the Fed’s actions indirectly dissuade banks from actively participating in the digital asset landscape. Description House Financial Services Committee leadership have addressed a letter to Jerome Powell, the Chair of the U.S. Federal Reserve, expressing strong criticism of the Fed’s recent moves on advancing legislation geared towards regulating stablecoins. Representative Patrick McHenry, who holds the position of Chairman of the House Financial Services Committee, has collaborated with French Hill, the … Read more House Financial Services Committee leadership have addressed a letter to Jerome Powell, the Chair of the U.S. Federal Reserve, expressing strong criticism of the Fed’s recent moves on advancing legislation geared towards regulating stablecoins. Representative Patrick McHenry, who holds the position of Chairman of the House Financial Services Committee, has collaborated with French Hill, the Chairman of the Digital Assets and Fintech Subcommittee, and Bill Huizenga, the Chairman of the Oversight and Investigations Subcommittee….

    Article 2023年8月29日

  • SWIFT’s CBDC test: Central banks join the fray

    TL;DR Breakdown Three more central banks have joined SWIFT’s digital currency (CBDC) project. Initial testing began in March with 18 financial giants, and over 5,000 transactions were conducted in 12 weeks. SWIFT’s engagement with CBDCs showcases its attempt to innovate amidst potential competition. Description The ever-evolving world of banking has been stirred once more. Three more central banks, in a move symbolizing adaptation to our digital age, have jumped aboard SWIFT’s digital currency project. Notably, this interbank messaging platform, which has long been the spine of the global banking network, is now steering into the uncharted waters of Central … Read more The ever-evolving world of banking has been stirred once more. Three more central banks, in a move symbolizing adaptation to our digital age, have jumped aboard SWIFT’s digital currency project. Notably, this interbank messaging platform, which has long been the spine of the global banking network, is now steering into the uncharted waters of Central Bank Digital Currencies (CBDCs). Central Banks Dive into the Sandbox The Hong Kong Monetary Authority, Kazakhstan’s apex bank, and another secretive central entity…

    Article 2023年9月14日
TOP