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Polkadot proposes new developments to boost its network; Will DOT make a comeback?

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Polkadot’s Governance plans to make new changes to the protocol. The proposed changes failed to have any impact on DOT prices, however stakers stay optimistic.

Polkadot proposes new developments to boost its network; Will DOT make a comeback?

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  • Polkadot Governance to increase the number of active validators on the network.
  • The number of stakers continued to rise, however DOT prices declined.

Polkadot [DOT] , despite having an expansive network of functional parachains, was still not able to grow in various sectors. To compensate for the slow progress, the team at Polkadot has been working on new developments to add to the protocol.


Is your portfolio green? Check out the DOT Profit Calculator


One of the changes being proposed was to raise the number of active validators on the network from 297 to 400 within a month.

This would be done in order to reduce the amount of DOT needed to acquire a validator, which will make it more accessible to a wider range of users. The community has discussed the possibility and the need for Polkadot to increase the validators set.

The feedback to the proposals indicated that there is interest in hiking the number of validators in increments. It was also pointed out that there needs to be some analysis of the effects to ensure there are no security concerns.


The participating members believe that raising the active set to 400 validators with increments of 5 per era would not compromise the security of the chain and would allow for natural leveling as the set increases.

What should DOT holders do?

Despite the attempts made by Polkadot to improve its network, the price of DOT continued to decline. In the past month, DOT’s price fell from $6.40 to $5.78. In terms of volume, a decline of 56 million was observed during the same period.

Source: Santiment

Though addresses were unwilling to accumulate DOT at press time, the same pessimism wasn’t shared by DOT stakers. In the last 30 days, the number of stakers on the Polkadot network increased by 5.25%.

Due to this surge, the total number of addresses staking DOT grew to 32,209.

 

Source: Staking Rewards


Realistic or not, here’s DOT market cap in BTC’s terms


Polkadot’s attempts to expand its reach globally could help improve the interest in its token. According to a recent update, Polkadot Governance was observed to be in talks to expand the Polkadot Hub to parts of South East Asia.

For context, Polkadot Hubs are Polkadot community-operated physical places. Here people who share an interest in Polkadot meet and work on ecosystem projects.


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Himalay is a full-time journalist at AMBCrypto. A Computer Science graduate, Himalay writes about crypto with a special focus on the latest coin-based updates. He is a fan of gonzo journalism, transgressive fiction, heavy metal, and Manchester United.
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