Polkadot Continues to Expand

Polkadot, a blockchain focused on interoperability, continues its development. Less than a month after the launch of Agile Coretime, the first core was sold for 69 DOT over the weekend. This milestone is significant for the blockchain, which aims to attract more users and developers by making access to block space more flexible and streamlined.

Sale of Polkadot Core for 69 DOT

According to data from the Coretime Hub, one of the five available cores was sold for 69 DOT. The purchased amount was burned, contributing to long-term inflation reduction. Launched in September, Agile Coretime is a major boost for Polkadot, allowing for more efficient allocation of network resources while providing greater flexibility and accessibility for startups and developers.

The introduction of a market-driven approach to block space is a key feature of this framework. It enables projects to buy cores according to their needs, providing a flexible approach that helps projects manage their resources more efficiently and optimize network performance.

Another significant aspect is that coretime can be traded as an #NFT​ , opening up new monetization opportunities for savvy traders.

Reducing Inflation and the Impact on Prices

Despite this core sale, it remains to be seen whether DOT inflation will significantly decrease in the coming months. Currently, network inflation stands at around 10%. However, the Polkadot community has already approved Referendum 1139, which seeks to lower inflation from 10% to 8%.

Over time, developers plan to further reduce inflation, possibly below 5%, depending on network growth and the number of coretime purchases. The more cores that are bought, the more DOT will be burned, thus reducing inflation.

Despite the sale of the first core, DOT remains under significant selling pressure, reflecting the overall market conditions. While it remains in the top 20 cryptocurrencies, its price is nearly 70% lower than its March highs. Any drop below $3.80 could accelerate sell-offs and push DOT to new lows in 2024.

#dotcoin , #POLKADOT'S , #BlockchainNews , #Altcoins👀🚀

Stay one step ahead – follow our profile and stay informed about everything important in the world of cryptocurrencies!

Notice:

,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“

Â