The crypto industry has grown to become a highly competitive sector, with hundreds of projects rolling out regularly. There is a constant tussle of supremacy in these projects, as only the ones with more reliability make it big in the market.
The consumer sector has become highly selective while investing in crypto projects. This is why the developing teams behind these crypto networks make constant efforts to upgrade their projects according to latest trends of the market.
Projects like Bitcoin and Ethereum constantly enjoy the limelight in the crypto space. They are the most valuable, and sought-after crypto projects by the investing lot. However, with the increasing growth of the digital currency realm, more and more projects have surfaced on the planet.
There are projects like the Polkadot who have managed to build a respectable community for themselves. Polkadot (DOT) has grown in valuation, trading volume, and market cap over time, and this is why it is deemed as a credible investing prospect in the crypto industry.
Binance confirms support for the Polkadot parachain launch
Polkadot has also planned a recent upgrade in its ecosystem, as its founders, Gavin Wood and Robert Habermeier confirmed that Polkadot is all set to implement parachains, auctions and crowd loans on its blockchain network.
The developers team at Polkadot has mapped out a schedule for the update, starting from November 11. The project that is now nearing its completion was started about five years ago. This is why Polkadot has a lot of expectations from this upgrade.
This upgrade will also enhance the performance of the network, while boosting the capabilities of decentralized applications. The team of developers have stated that five polkadot parachain auctions will be launched each will till December 9. Also, the largest cryptocurrency exchange of the world, Binance has also announced its support for the slot auctions.
Parachains are one of the most critical part of the core development of Polkadot ecosystem. Also, a testnet platform for the blockchain, Kusama has already successfully applied 11 Parachain auctions. This will help the blockchain to prepare for the coming launches. Polkadot is also expecting to go higher after the launches. It has already posted about 17% gains since the announcement of the launch. DOT is currently valued at around the $40 mark. However, the launch is expected to help the coin reach a new all-time high.