Polkadot’s Expanding Ecosystem Makes it a Top Bet for Cryptocurrency Investors

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dotted (CRYPTO: DOT) is the 10th largest cryptocurrency in the world with a market capitalization of $24.6 billion USD at the time of writing. The DOT digital token is priced at $25 and has gained more than 400% since the beginning of 2021. Despite the excellent returns, the digital currency is also down 50% from its all-time highs. Let’s see what makes Polkadot the best bet for crypto investors in 2022.

Bull Affair for Polkadot

A network that enables transfers across the blockchain for any type of data, tokens or assets, Polkadot provides users with the ability to transact with a variety of blockchains. Because a common set of validators is used to secure multiple blockchains, Polkadot is very scalable. Moreover, it also offers transaction scalability as transactions are spread across parallel block chains. Unlike most other networks, Polkadot can undergo upgrades, fix bugs and add new features without the need for hard forks making the blockchain highly adaptable.

The network has gained popularity due to the potential expansion of its ecosystem. Polkadot recently published parachains on its network which should be a major catalyst for massive blockchain adoption. According to CoinMarketCap, parachains are connected to and secured by Polkadot’s central relay chain, allowing the former to benefit from the interoperability and scalability of the backbone.

Polkadot’s relay series has been heating up for a while and will be up and running in 2022, all set up for in-house projects like Moonbeam, Acala and Parallel Finance.

Akala

Also known as the DeFi hub of Polkadot, Acala is backed by investors among them Queen Piece Projects, Alameda Research, and DCG. Acala aims to bridge the gap between banking and DeFi and has partnered with fintech heavyweights that include Current, Blockdaemon and Bison Trails. Everything is ready for the launch of NFT services for media partners such as TheChive which has more than 10 million users. With its acclaimed series finally set to go into full force in 2022, we see Acala as a driving force behind Polkadot’s momentum this year.

Moonbeam

Moonbeam in the process of building infrastructure where Ethereum Original products like Balancer and Sushiswap can expand into multi-chain giants through EVM. As such, Moonbeam could in theory enable parachains and projects in the Polkadot chain to interact directly with each other.

Parallel Financing

Parallel Funding is a decentralized lending and borrowing protocol whereby depositors can earn double the return on the coins being hoarded while borrowers can offer tokens as collateral. Parallel was founded by a prodigy named Yubo Ruan and backed by top-tier investors including Sequoia Capital, Polychain Capital, Peter Thiel’s Founders Fund and LightSpeed ​​Venture Partners. Parallel is backed by a growing team of talented developers and professionals from organizations including Stanford, MIT, Facebook, Google and JP Morganand Crypto.com.

high speed network

Polkadot provides a blueprint for data availability and validity where strings can meaningfully interact with each other. So, while the chains are independent in judgment, they are united in security.

At the moment, the Polkadot network can process 1,000 transactions every second, which is significantly higher than Ethereum, which can process between 15 and 30 transactions per second. According to Polkadot founder Gavin Wood, soon Polkadot can process 100,000 transactions every second, making the blockchain network very attractive for a wide range of projects.

Developers are drawn to the huge potential of the Polkadot ecosystem, and the number of developers working on the network has grown to 10,000, from just 2,600 at the beginning of 2021. The developers are clearly seeing tremendous value and growth in the Polkadot blockchain, making it one of the best cryptocurrencies to place your bets on. right Now.