HomeNewsDecoding Q2 2023: Key Takeaways from the Polkadot & Kusama Ecosystem

Decoding Q2 2023: Key Takeaways from the Polkadot & Kusama Ecosystem

- Advertisement -
  • Polkadot’s daily core active developers reached an all-time high in March, with the ecosystem ranking second by June with 1,923 developers.
  • The fast unstake feature, launched on March 28, saw consistent use, and Polkadot nomination pools grew to comprise 12,268 members with 5.32M DOT by June’s end.

Evolving Developer Landscape

Polkadot has experienced a significant upswing in developer activity. By June 1st, the platform leapt from third to second place ecosystem-wide, boasting 1,923 developers. The strength of this development community became evident with the sustained activity levels even amid market fluctuations. Such commitment not only demonstrates the platform’s appeal but also heralds a bright future for Polkadot-based projects.

- Advertisement -

>> Buy Polkadot quickly and securely with PayPal, credit card or bank transfer at eToro with low fees and deposit protection. Get started with DOT now. Visit Website <<

Staking: The Fast Unstake Phenomenon

A defining feature in the realm of Polkadot’s staking system has been the introduction of “fast unstake”. This new tool permits stakers to sidestep the traditional 28-day unbonding duration. Its popularity was evident, with an average of six unique users daily and 2.38K DOT being unbonded per day since its March 28 inception.

The growth trajectory of Polkadot’s nomination pools is also worthy of note. By the conclusion of June, these pools had expanded to accommodate 12,268 members, encompassing a staggering 5.32M DOT.

Governance: The Rise of OpenGov

- Advertisement -

June 15 witnessed the official launch of OpenGov on Polkadot. This transition was marked by the approval of Referendum 121. By late July, a considerable number of referenda had been proposed on both Polkadot and its canary network, Kusama. Interestingly, the treasury tracks, despite their dominance in terms of referenda counts, recorded some of the lowest support rates. This divergence suggests an opportunity to invigorate participation in OpenGov and enhance the democratic spirit of the ecosystem.

NFTs, Smart Contracts, and Wallet Options

While Singular’s NFT sales volume tapered during the second half of Q2, three new NFT marketplaces—Paras, ArtZero, and Bluez—made their debut on Astar during this quarter. Concurrently, WASM smart contracts on Aleph Zero and Astar underwent their respective evolutionary paths, reflecting the dynamic nature of Polkadot’s expanding ecosystem.

Security remains paramount, and when it comes to safeguarding assets, Polkadot users now have a trio of cold wallet options: Ledger, Polkadot Vault, and Keystone. While Ledger provides a purely hardware-based solution, both Polkadot Vault and Keystone proffer an air-gapped experience, reinforcing the security matrix.

Best Crypto Exchange for Everyone:

  • Invest in Polkadot and 70+ cryptocurrencies and 3,000 other assets.
  • 0% commission on stocks – buy in bulk or just a fraction from as little as $10.
  • Copy top-performing traders in real time, automatically.
  • Regulated by financial authorities including FAC and FINRA.

2.8 Million Users

Get Started


- Advertisement -
ETHNews does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. Readers should do their own research before taking any actions related to cryptocurrencies. ETHNews is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned.
Collin Brown
Collin Brown
Collin is a Bitcoin investor of the early hour and a long-time trader in the crypto and forex market. He's fascinated by the complex possibilities of blockchain technology and tries to make matter accessible to everyone. His reports focus on developments about the technology for different cryptocurrencies.
- Advertisment -spot_img