The core developers at $DOT are looking to expand the ecosystem’s current parachain limit of 100, aiming to eventually onboard 1,000 parachains in future with help from software updates."Asynchronous backing" is one such update to Polkadot’s parachain consensus protocol. The update is designed to halve the parachain block time from 12 seconds to 6 seconds and augment the block space for each block by 5-10 times. "Asynchronous backing enables flexible scheduling for our future scaling work through elastic scaling and instantaneous coretime. We have a credible roadmap to get Polkadot to support 1,000 parachains and 1m+ transactions per second. The design is there — we know how to scale Polkadot for the indefinite future,” Parity Engineering Lead Sophia Gold said in a statement.A release of asynchronous backing is set to be deployed to Polkadot’s Rococo testnet in about two weeks, Parity Technologies, a leading contributor to Polkadot, said at the sub0 developer conference in Lisbon. The timeline of the mainnet release remains tentative.Polkadot functions as an interoperability network, connecting numerous application-specific blockchains called parachains, which derive security from a central blockchain called Relay Chain.Gold added that asynchronous backing would also enable Polkadot to more than triple its number of Polkadot validators by the end of 2024 to around 1,000, describing this as “the most significant evolution of parachain consensus since we launched parachains almost two years ago.”#crypto2023 #BinanceTournament #Polkadot #Parachain

Binance$ units connected to its U.S. arm asked a D.C. district court to dismiss a case brought by the Securities and Exchange Commission, calling allegations of wash trading "unsubstantiated with facts." The SEC alleged in June that Binance.US, connected to Binance Holdings Limited and BAM, lied about market manipulation prevention and allowed wash trading by an undisclosed "market making" trading firm, Sigma Chain, which is owned by Binance CEO Changpeng Zhao. "Beyond conclusory allegations and citations to isolated instances where Sigma Chain accounts interacted, the Complaint provides no specific allegations regarding Sigma Chain's alleged misconduct," lawyers representing Binance Holdings Limited and BAM said in a motion to dismiss on Thursday. Wash trading, under the securities laws.. "And the SEC's wash trading allegations, while sensationalized with labels, are unsubstantiated with facts. Accordingly, the Complaint should be dismissed," the lawyers added.The motion took issue with the regulator's depiction of some tokens offered on the platform as securities including $BNB , BUSD, $SOL , $ADA MATIC, FIL, ATOM, SAND, MANA, ALGO, AXS and COTI. "In this case, the SEC does not allege that any buyer of the Digital Assets on BAM’s Platform was promised anything from the seller (or anyone else, for that matter)" BAM's lawyers said. The lawyers also cited the major questions doctrine in the motion, and said the SEC could not regulate digital assets as being securities. The doctrine says that if an agency wants to decide on an issue that has major national significance. "Even if the SEC plausibly alleged that transactions involving the Digital Assets were investment contracts (which they have not), the major questions doctrine would require dismissal," the lawyers said. ➡️ https://www.theblock.co/post/252441/binance-us-lawyers-ask-court-to-dismiss-sec-case-pushing-against-wash-trading-claims?utm_source=telegram1&utm_medium=social#opbnb #ETH #Layer2 #BTC #crypto2023