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Polkadot recorded a new historical peak

The price of Polkadot has risen significantly in the last two days, and just a few hours ago, it was able to record a new historical high of $ 53. Experts believe that launching a special and new project in the Polkadot network is the main reason for the increase in the price of this digital currency.

to the Report Crypto Potito, a multi-chain, heterogeneous network, recently announced that the Crowd Loan reopening scheme for developers has been successfully approved. The DOT price, the main token of the Polkadot network, reached a new historical high under the influence of this news and reached the highest level of $ 53.25.

Collective lending is a process that allows developers to raise the funds needed to launch a parachain, or independent blockchain, by collecting Kosama (KSM) or dot tokens through Staking users interested in participating in the project. To provide.

Also read: What is Polkadot? Everything about the Blockchain Internet

The Polkadot team announced this news on its official Twitter page on Monday, November 1st. Based on details published on the Polkassembly platform, the network upgrade plan will allow developers to launch their own parachutes and seek funding for projects successfully approved by the Polkadot Council through collective loans. .

The last development of the network took place less than a month after Polkadot announced that its parachutes were ready for launch on November 11th. In addition, it is said that the first series of parachute auctions will last for 5 weeks, with one auction per week. In total, 11 auctions are to be held in two sections.

The parachutes have been based on a separate Blockchain from Kusama since June (June) on the Polkadot Canary network, and the Karura network, which operates in the field of decentralized finance, won the first auction of Polkadot parachutes. Since then, 10 more parachutes have been auctioned on the Kosama network.

Bainance Digital Currency Exchange has also announced that it will support the November (November) auction of Polkadot parachutes. With the successful deployment of Kosama Parachute, the Polkadot network is looking to connect to its first project.

Developers initially used Kosama tokens to secure their project ports on the Kosama network, but the Polkadot council vote soon allowed developers to use dot, the main token of the Polkadot network, to do so.

The price of Polkadot reacted positively to the announcement, reaching a new all-time high of $ 53.25 with more than 20% growth. With this price reached, it surpassed its previous historical high of $ 49.35, which is related to May. At the time of writing, each Pulkadat unit is trading at around $ 52.20.

It should be noted that this plan must pass the final stage, which is approval through a public referendum. If this measure is approved, teams interested in using parachutes can register their parachute and start the process of receiving their collective loan on November 4, 2021 (November 4, 1400).

Polkadot recorded a new historical peak
Polkadot price chart (1 hour view of Polkadot market / dollar)

This news highlights other milestones in the development of the DotSama ecosystem. DotSama is an ecosystem consisting of Polkadot and Kosama, which enables cross-compatibility and interaction between the two networks. In September, Talisman, the wallet of the Polkadot website, received $ 2.3 million from investors such as Koji Capital, Hypersphere Ventures, Advanced Blockchain AG and several others. The anonymous investor collected from the Flex Dapps platform. Talisman will use this capital to develop the initial version of the .Sama wallet, which is scheduled to be released by November 22 (December 1).


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