Polkadot has implemented asynchronous backing, a pivotal upgrade enhancing the network’s flexibility in blockspace allocation and overall performance.The upgrade is one of the three technological advancements, alongside Elastic Scaling and Agile Coretime, driving the blockchain towards its Polkadot 2.0 vision.Asynchronous BackingAccording to Polkadot, asynchronous backing provides an optimized approach for validating parachain blocks by its relay chain.The blockchain said the upgrade would introduce a twofold acceleration in blockspace production time and a 3-5x increase in extrinsic per block. It would also lead to heightened utilization of parachain blocks and is projected to enhance blockspace availability by 6-10x.Furthermore, asynchronous backing would also result in an 8-fold increase in throughput while upholding security standards. This enhancement is expected to support decentralized applications, catering to diverse sectors like Web3 gaming and DeFi.PolkaWorld, a social media account focused on the Polkadot network, further explained:“Asynchronous backing greatly increases the system’s flexibility and efficiency, allowing more transactions to be processed in a shorter time, thereby enhancing the overall throughput and responsiveness of the network.”Polkadot’s asynchronous support didn’t significantly affect DOT’s price, which experienced a slight 1.16% decline in the last 24 hours, settling at $7.06 at press time, according to CryptoSlate’s data.This represents a reversal of fortunes for a digital asset whose value had increased by around 10% during the past week amid a broader market performance.Notably, crypto analyst Michaël van de Poppe recently described Polkadot as one of the leading layer1 networks still heavily undervalued.According to him:“Polkadot is the second largest blockchain in terms of developers and growth, while the price is still lagging behind. It might the last time it does this, as it aims to provide a solution for the scalability and security issues Ethereum is facing.”Disclaimer: CryptoSlate has received a grant from the Polkadot Foundation to produce content about the Polkadot ecosystem. While the Foundation supports our coverage, we maintain full editorial independence and control over the content we publish.Oluwapelumi values Bitcoin’s potential. He imparts insights on a range of topics like DeFi, hacks, mining and culture, underlining transformative power.AJ, a passionate journalist since Yemen’s 2011 Arab Spring, has honed his skills worldwide for over a decade. Specializing in financial journalism, he now focuses on crypto reporting. Stay ahead with crypto’s key news and insights. Delivered directly, every day.SubQuery said these RPCs are the first on Substrate-based networks and will be operated by over 30 independent Node Operators.Hydration said the funding will boost the liquidity and efficiency of its single-sided liquidity provisioning platform, Omnipool.Accelerate Polkadot said it wants to provide the de facto answers to Polkadot’s developers questions.The Decentralized Fund inititaive is designed to support Polkadot-focused organizations with funding.CryptoSlate’s latest market report dives deep into the effects corporate Bitcoin purchases have on the market.Disclaimer: Our writers’ opinions are solely their own and do not reflect the opinion of CryptoSlate. None of the information you read on CryptoSlate should be taken as investment advice, nor does CryptoSlate endorse any project that may be mentioned or linked to in this article. Buying and trading cryptocurrencies should be considered a high-risk activity. Please do your own due diligence before taking any action related to content within this article. Finally, CryptoSlate takes no responsibility should you lose money trading cryptocurrencies.
