3 important fundamental factors that can increase the price of Polkadat

The Polkadat network, which has one of the most compelling blockchain ideas in the field of digital currency, has long failed to compete with other networks to attract more users. However, there are several key factors that can contribute to the growth of this ecosystem and increase the cost of Polkadat tokens.

According to the Kevin Telegraph, the Polkadat ecosystem performed worse in 2021 than other tier networks. However, the gradual auction of Parachain and the launch of the core network allowed Polkadat to remain competitive.

This trend seems to have increased very soon after the parachute auction and ended in mid-March (March 1400). During this time, several projects in the Polkadat ecosystem raised the price of their tokens, and this price increase was largely influenced by the popularity of networks offering new features and moving to Atrium Virtual Machine (EVM) compatibility.

An important fundamental factor that can make the price of Polkadat jump
Price comparison of Polkadat, Monobim, Akala, Star, Sito, Centrifuge and Kyline; Active tokens in the Polkadat ecosystem.

In the image above, you can see the pricing trend of the six best protocols in the Polkadat ecosystem, which help the network to have a successful presence in the digital currency space.

Interactivity is Polkadat’s trump card

Interactivity was one of the drivers of the digital currency market last year. Monabim (GMLR) and Star (ASTR) are two examples of parachutes in the Polkadat network, which focus on creating multi-chain interaction with Atrium and other networks.

Monbim is a smart contract support parachute that aims to facilitate the use of Atrium Development Tools to create or implement Solidarity-based programming projects in a Polkadat-based environment.

The Monbeim was the first parachute launched into Polkadat’s main network. The project aims to add internal chain management, equity participation and interaction between the chain to the main features of Atrium.

Astar is a decentralized application that supports various standards, including Atrium, Web Assembly (WASM) and Layer 2 solutions such as zk-rollups. The goal of Star Protocol is to become a multi-chain smart contract platform that can support multiple Chinese blockchain networks, as well as the Atrium virtual machine.

According to the analytical site DefiLlama, after the launch of the Star Network at the end of January 2022 (December 1400), it managed to increase the value of its total locked-up capital to a peak of $ 1.47 billion. Currently, the total value of the locked-in capital in this network is 1.31 billion dollars.

An important fundamental factor that can make the price of Polkadat jump
The value of the total locked capital in Star Protocol.

It can be said that Monbim and Star have added important services to the Polkadat ecosystem; As a Relay Chain, this network does not support smart contracts. It should be noted that Rileychin is one of the most important parts of the Polkadat platform, in which each of the network’s independent blockchains, by connecting to it and sharing its blocks in this chain, benefits from the shared Polkadat security model.

Read also: What is Polkadat? Everything about the Chinese blockchain internet

The PolkaDat diff ecosystem is still in its infancy

The Polkadat DeFi ecosystem attracted many users during this period, thanks to new developments at Acala and Centrifuge.

Akala played an important role in Polkadat’s defense ecosystem and managed to bring his first local stable coin, called “aUSD”, to Polkadat.

Stable coins are a key part of Defy’s infrastructure, and the advent of aUSD has led to the decentralization of stable coins backed by the Pulkadat (DOT) token, its derivatives and assets from other networks such as Bitcoin or Atrium.

With the arrival of Akala and aUSD, the Polkadat ecosystem has joined companies such as Terra, Frax Share and Curve Finance, which operate in the hot market for stable coins; An area that has become one of the influential sectors in the evolution of decentralized financing.

Centrifugation is a decentralized liquidity protocol to connect the real world and decentralized financing. The platform aims to achieve its goals by building tokens for assets such as invoices for goods and services, real estate and royalties in various industries.

One of the main objectives of this protocol is to help consumers benefit from assets that do not rely on digital currencies. Reducing the amount of capital needed to launch various projects in small and medium-sized companies and creating a stable source of income for investors is another goal of this Polkadat-based platform.

With the help of centrifuges, various institutions can convert their real assets into tokens and obtain loans from the Tinlake protocol by pledging them.

Web 3.0 accelerates the growth of Polkadat

Web 3.0 is another popular concept in the digital currency ecosystem and is actually just a fictional term for integrating Chinese blockchain technology with the Internet.

Saito and Kylin are two protocols in the Polkadat ecosystem that focus on facilitating the evolution of Web 3.0 through scalability and data management.

The Sito Blockchain Network is designed to process terabytes of data, and instead of diggers or shares, it uses the Node Reward Network (P2P) method, which is independent of the licensing issue and scalable.

Popular sites and platforms such as Facebook, Twitter and Amazon, which are currently active exclusively in the current generation of the Internet, Web 2.0, will eventually need these features to strengthen their decentralized versions.

Read also: The most comprehensive lesson on fundamental analysis of digital currencies + video

Kylen also provides the decentralized infrastructure for data management of the Polkadat ecosystem in Web 3.0, called DeData. The Kylian protocol includes Data Oracle, analysis tools and a data market.

The Kylian Data Analysis section is a set of tools designed for analytical databases that retrieve targeted findings, models, and interpretations. All this also provides the necessary conditions for the commercialization of data-related opportunities in a cheap way for the general public.

Oracle Data Killin is a decentralized and advanced data submission protocol that can process any type of data in and out of the chain in a valid way.

The publication 3 important fundamental factors that can increase the price of Polkadat appeared appeared for the first time in digital currency.

Leave Your Comment

Your email address will not be published.

Supportscreen tag