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HomeNewsPolkadot's Parachain Referendum Victory for Bridge Hub System Raises Hope for DOT...

Polkadot’s Parachain Referendum Victory for Bridge Hub System Raises Hope for DOT Price Rally

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    • Four referendum proposals related to Polkadot and Kusama are currently up for a vote.
    • The proposals aim to open HRMP channels, return lost funds, fund Polkachu’s Payout Bot, and set the max_code_size of parachains to 3 MiB.

Four Referendum Proposals Underway for Polkadot and Kusama Networks

The Polkadot and Kusama networks are currently holding referendums for various proposals. These proposals aim to improve the network’s performance and provide additional resources to the community. Four of these referendum proposals are currently up for voting.

Opening HRMP Channels Between Statemint and Bitgreen/Subsocial/Manta

Referendum 115 aims to open three new HRMP channels between Statemint and Bitgreen/Subsocial/Manta. As three more parachains have requested an HRMP channel opening with Statemint, this proposal aims to accept and open return channels. The referendum is currently passing with 99% in favor and seven days left to vote.

Returning Supercolony Lost Funds Back to the Treasury

Referendum 117 is currently failing with 73% in favor and 19 days left to vote. The proposal aims to force transfer back to the Treasury from a previous Treasury Proposal. Over the past few months, there have been numerous discussions surrounding treasury spending, particularly concerning the return on investment (ROI) and the value generated from these.

Funding for Polkachu’s Payout Bot

Referendum 174 proposes to provide a tip for Polkachu’s Payouts bot, which has passed. During a recent discussion with Polkachu, he mentioned that he required some help to pay for his service, which he operates on behalf of the community and has self-funded it for most of its six-month operation.

Setting the Max_code_size of Parachains to 3 MiB

Referendum 173 is reaching the end of the Decision Period, proposing to set the max_code_size of parachains to 3 MiB. The proposal aims to improve the network’s scalability, providing more room for developers to work with. The referendum’s outcome is yet to be determined.

Conclusion

The Polkadot and Kusama networks are always evolving and improving, thanks to the community’s contributions and proposals. With four referendums currently up for voting, the network’s future looks bright, and the community can look forward to more improvements and innovations in the future.

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Nikita Dmitrievich
Nikita Dmitrievichhttps://www.ethnews.com/
Nikita, a young and ambitious crypto investor who has been actively involved in the cryptocurrency world for the past 6 years. With a keen interest in blockchain technology, Nikita has been investing in various cryptocurrencies and has seen significant returns on his investments. He is passionate about educating others on the potential of cryptocurrencies and frequently shares his insights on social media platforms. Nikita believes that cryptocurrencies are the future of finance and is constantly researching new projects to invest in. With his dedication and knowledge, Nikita is quickly becoming a prominent figure in the crypto community. Business Email: info@ethnews.com Phone: +49 160 92211628
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