Polkadot 2.0, the latest upgrade for the Polkadot network, will launch in Q1 2025. An early testnet version of the blockchain is already available on the Kusama network.
The launch time was confirmed earlier today by Parity Technologies, the developer behind Polkadot.
Polkadot 2.0 will introduce much-needed scalability for the blockchain.
Polkadot 2.0 represents a significant upgrade of the Polkadot network, introducing technical advancements to enhance scalability, flexibility, and accessibility for developers.
According to Parity Technologies, the upgrade will have three main features - Async Backing, Agile Coretime, and Elastic Scaling.
The first two features have been successfully implemented in the network. The research team is currently working on Elastic Scaling before its launch in Q1 2025.
"The final part of Polkadot 2.0 is Elastic Scaling. Projects will be able to add more cores for a task, shortening block production time or adding cores on demand if they encounter throughput issues," Polkadot CEO Emil Kietzman wrote on X (formerly Twitter).
These features will reduce block time from 12 seconds to 6 seconds, increasing transaction throughput. DApps and other projects on Polkadot 2.0 will be able to access network resources on demand, moving away from the traditional parachain slot auction model.
Most importantly, Elastic Scaling will allow the network to scale dynamically as needed. These improvements on Polkadot 2.0 have the potential to lower the barriers to entry for developers.
DOT has witnessed a significant recovery in November, increasing by over 100%. High staking rewards from the network have attracted new users in 2024. According to a previous report by CoinGecko, Polkadot is one of the top three blockchains offering the highest staking yields.
Polkadot market developments throughout November. Source: BeInCrypto.
Furthermore, the network's interoperability has received broader praise from the developer community. Another report earlier this year called Polkadot one of the top blockchains in development and community engagement.
Despite these recognitions, the network has been widely affected over the past few years due to a lack of scalability. As a result, the number of core developers on the network has gradually decreased.
Polkadot 2.0 has the potential to change this and introduce the necessary scalability and accessibility for the blockchain. A successful launch could bring more DApps to the ecosystem and boost DOT's market prospects.