Polkadot's governance community has approved about $600,000 to Pop Network's R0GUE team to develop smart contracts that integrate with the blockchain network's native DOT token.
Smart contracts are digital agreements that are stored on a blockchain and automatically execute when predetermined conditions are satisfied.
These contracts are widely used on networks like Ethereum, but they are not natively supported on Polkadot's Relay Chain.
As a result, Polkadot's smart contract-capable parachains work with their own native tokens, which hinders smooth integration with DOT.
Pop Network
Pop Network solves this major pain point that has delayed the development of DOT by leveraging ink!, Polkadot's smart contract language. This provides clear and stable interfaces (APIs) for smart contracts and exclusive use of the DOT token.
These APIs allow smart contract developers to easily leverage Polkadot's capabilities to create innovative solutions, like cross-chain applications, without the complexity. of blockchain.
Peter White, founder of R0GUE, says:
“Pop Network's solution easily leverages Polkadot's capabilities, all using the DOT token. Our developer-friendly interface powers ink smart contracts! with instant access to the power of Polkadot, in just a few lines of code.”
The network is already live on the Paseo testnet and was recently introduced at the Sub0 blockchain event.
Notably, this development coincides with Polkadot's ongoing technological advancements for its Polkadot 2.0 vision, including Asynchronous Backing, Elastic Scaling, and Agile Coretime.
$25 trillion by 2030
Platforms with smart contract capabilities are predicted to grow dramatically by 2030.
Jamie Coutt, chief crypto analyst at Real Vision, predicts that the combined market value of smart contract platforms, stimulated by the spread of artificial intelligence agents, will reach from $15 trillion to $25 trillion by 2030.
Coutt, citing Real Vision's November 2023 report, points out that artificial intelligence could indirectly increase demand for on-chain verification and authentication services.
According to him:
“The prospect of artificial intelligence agents, which can be controlled by humans or autonomously, using blockchain via smart contract wallets to exchange value will dramatically change growth predictions. ”
Based on this, he concluded that artificial intelligence agents could account for over 40% of the total number of daily active users on-chain, creating astronomical valuations for blockchain assets that would enjoy benefit from transaction fees generated by the growing use of artificial intelligence.
*Relay Chain is the main backbone of the Polkadot network. It is where all the parachains connect and interact with each other. Relay Chain plays an important role in confirming and synchronizing transactions across the Polkadot network. It also manages the relay of information between parachains and implements key features such as security, providing cross-chain communication and ensuring system safety. Relay Chain is considered the central axis of the Polkadot network, making it possible for parachains to work together cohesively and effectively.
*Parachain is an independent blockchain network that connects to Polkadot to take advantage of the platform's flexibility and security. They are auctioned and have their own rules, which expands Polkadot's usability for many different applications and use cases.
![](https://public.bnbstatic.com/image/pgc/202405/13b672c956486e97d892ea2e48c7b025.png)
Above is an illustration of the Polkadot network, including Relay Chain and Parachains. The Relay Chain sits at the center and connects to the Parachains through seams, demonstrating the overall interoperability and security that the Relay Chain provides. Parachains are independent blockchains connected to the Relay Chain.
Source: https://tapchibitcoin.io/polkadot-tai-tro-cho-du-an-pop-network-600-nghin-do-la-de-gioi-thieu-cac-hop-dong-thong-minh. html