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Polkadot is being driven by bullish news

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Polkadot is being driven by bullish news

The Polkadot course shoots on the night from Wednesday to Thursday to heights it has not seen since the crash in May. What happened?

Not only is BTC today achieving numbers that have not been seen since the May correction, Polkadot could also make history again.
Known for its interoperability, Coin Polkadot (DOT) is up 16.88 percent in the past 24 hours at the time of writing. The 24-hour high was $ 43.10, while the high was recorded last week at $ 33.15. Overall, the value increased by 27.98 percent compared to last week.

The bullish picture is also evident when looking at the trading volume. In the past 24 hours, this has increased by 164.18 percent. Market capitalization also benefits from this. This is now just over 35.38 billion. Since yesterday, October 13th alone, that’s an increase of 18.38 percent. But what happened?

Para (-) chain in an ambiguous sense

Even if it is difficult to make clear statements about the reasons, the most likely reason is the announcement of the parachains on the Sub0 to call. Gavin Wood and Robert Habermeier, the founders behind the polkadot company Parity Technologies, now have proclaimedthat the auctions for slots on these parachains will be held from November. The Polkadot whitepaper was published almost five years ago. Now the blockchain is technically expanded and ready for the parachains. The auctions will be divided into two batches: the first batch will start on November 11th of this year with one auction per week, the second batch on December 23rd with an auction every two weeks. The winners of the auctions are not necessarily those with the highest offer, but rather those who take the most money into their hands with the highest offer at a randomly selected time.

It seems that many investors are hoping to get a part of the pie if the network gains not only in applications but also in supporters in the future. Accordingly, shortly after the announcement, some of them invested their “Para” (Spanish: money) in DOT.

The benefit and the specialty

Parachains are own, specialized blockchains that run parallel to the main chain – Polkadot Relay Chain. They are connected to the Polkadot Relay Chain and are what make the architecture so special. Polkadot aims to develop up to 100 different parachains. These should serve different purposes, but should be able to communicate with each other. The aim is to achieve better scalability, but not at the expense of security.

The introduction of the Parachains heralds the last phase of the multi-stage introduction process of Polkadot. This began on May 26, 2020 with the establishment of the first proof-of-authority version of the main chain. So far, this architecture has been built on top of Kusama, Polkadot’s experimental development environment.

Habermeier also pointed out at the conference that just because the parachains are now technically designed and possible does not mean that they are guaranteed to work properly. Therefore, the plan for the time being would be, “The total number of parachains integrated in Polkadot of 75 percent is not [zu] exceed[en]”. And so long “until the code is mature”. He also reserves the right that Polkadot can interrupt future auctions if problems arise.

DOT era begins?

On Twitter, many of the DOT investors show themselves to be aggressive towards ETH. Thanks to their similar use cases, the platforms will be able to compete for investors even more frequently in the future. DonnieBigBags, one of the biggest Polkadot proponents, sees the long development time and the swarm intelligence of his DOT community alone as an advantage over the current leader. does not affect editorial decisions.

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All content in this article is for informational purposes only and in no way serves as investment advice. Investing in cryptocurrencies, commodities and stocks is very risky and can lead to capital losses.

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