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HomeNewsPolkadot's Strategic Move: Entering the Liquid Staking Space

Polkadot’s Strategic Move: Entering the Liquid Staking Space

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  • Polkadot reveals an evolved version, known as Polkadot 2.0, offering enhanced flexibility and efficiency.
  • A strategic partnership between ZodiaCustody and paritytech aims to revolutionize the Polkadot staking landscape.

It’s evident that Polkadot, a prominent name in the blockchain sector, is poised to make impactful strides with its latest announcements. Drawing from recent developments highlighted by Cointelegraph.

Polkadot 2.0: Adaptable and Efficient

Announced by the founder Gavin Wood in June 2023 at the Polkadot Decoded 2023 event, the upcoming Polkadot 2.0 intends to revamp the way the network assigns its resources. The essence of this evolution lies in the introduction of elastic cores. These cores will respond dynamically to real-time requirements, marking a move from the existing fixed CPU core model. Such adaptability promises enhanced efficiency across the ecosystem.

Coretime Allocation: A Flexible Approach

In Polkadot 2.0, coretime, which denotes the time required for consensus on the Polkadot Relay Chain, will be available for purchase as block time. Wood emphasized that the new design would focus on the pressing needs of developers and potentially boost the liquidity of the Polkadot (DOT) tokens by decreasing token lockup durations.

Liquid Staking in the Spotlight

Polkadot’s entry into the liquid staking domain is marked by its partnership with ZodiaCustody and paritytech. This alliance is tailored to refine the staking scenario by facilitating institutional access to the Polkadot network. The collaboration is also set to provide essential custody services to bolster the Polkadot ecosystem. As the volume of staked DOT has surged recently, it’s essential to monitor how this change will impact the staking rewards and the broader DeFi sector.

How is DOT Faring?

Despite a few challenges, including a dip in sentiment, DOT has managed to hold its ground. A surge of 64% in engagement levels and a 16.4% rise in DOT-related mentions indicate that the cryptocurrency remains a focal point for enthusiasts and investors. However, some concerns, such as price volatility and potential deceleration in network developments, warrant attention from stakeholders.

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AnnJoy Makena
AnnJoy Makenahttps://www.ethnews.com
Annjoy Makena is an accomplished and passionate writer who specializes in the fascinating world of cryptocurrencies. With a profound understanding of blockchain technology and its implications, she is dedicated to demystifying complex concepts and delivering valuable insights to her readers. Business Email: info@ethnews.com Phone: +49 160 92211628
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