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Polkadot (DOT) Ecosystem Recap: The Most Recent Advancements

Summary:
TL;DR Polkadot partnered with Founder Institute to launch a Web3 cohort and introduced Asynchronous Backing to enhance scalability. Some of its parachains, such as Acala Network and Moonbeam Network, have also made notable advancements in security, governance, and community engagement initiatives. Summary of the Latest Developments Polkadot’s ecosystem continues to advance due to frequent improvements in its operations and vital partnerships. Most recently, the blockchain protocol shook hands with Founder Institute (a leading business incubator that turns ideas into fundable startups).  The latter described the collaboration as “groundbreaking,” adding that it marks the start of “an exciting chapter” related to the launch of the first Web3 cohort in its Core Program. “Our

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TL;DR

  • Polkadot partnered with Founder Institute to launch a Web3 cohort and introduced Asynchronous Backing to enhance scalability.
  • Some of its parachains, such as Acala Network and Moonbeam Network, have also made notable advancements in security, governance, and community engagement initiatives.

Summary of the Latest Developments

Polkadot’s ecosystem continues to advance due to frequent improvements in its operations and vital partnerships. Most recently, the blockchain protocol shook hands with Founder Institute (a leading business incubator that turns ideas into fundable startups). 

The latter described the collaboration as “groundbreaking,” adding that it marks the start of “an exciting chapter” related to the launch of the first Web3 cohort in its Core Program. “Our cooperation is set to revolutionize the landscape of startup acceleration and Web3 technology education,” the team stated

Founder Institute explained that the program’s launch is set for May 28, and it will be guided by top experts from the Polkadot community. 

Earlier this month, the blockchain protocol enabled Asynchronous Backing on the network. It is a mechanism designed to improve the scalability and efficiency of the entire ecosystem. The Asynchronous Backing also represents “an optimized approach for how parachain blocks are validated” by the central chain – Relay Chain.

Polkadot’s team revealed that blocks are produced twice as fast, whereas available blockspace was boosted by 6-10 times following that upgrade.

“Async Backing boosts throughput by 8x, without sacrificing security, paving the way for supporting Web3 applications across verticals such as gaming and DeFi. It brings Web2 scale into the reach of Web3, which is crucial for large-scale platforms like Mythical Games,” they added.

Another major development that took place as of late is the release of the Join-Accumulate Machine (JAM) Gray Paper. It is a technical upgrade that outlines an innovative approach for improving the performance and scalability of blockchain networks, particularly in the context of Polkadot’s ecosystem. It combines elements of Polkadot and Ethereum and “provides a global singleton permissionless object environment.

The blockchain protocol is also looking for external partnerships such as a potential deal with the American soccer club Inter Miami. Last month, Nico Zini – the team’s commercial manager and in charge of TV rights – revealed that both sides may join forces on an $8.8 million sponsorship partnership. 

For the uninitiated, Inter Miami’s co-founder is David Beckham, while its biggest stars on the pitch include the Argentine legend Lionel Messi and the Uruguayan Luis Suarez.

Zini previously served as FC Barcelona’s Business Development Manager in North America. The Catalan club was contemplating striking a deal with Polkadot in 2022 but eventually chose Spotify.

How About the Parachains?

Some of Polkadot’s parachains – individual blockchains that run in parallel with the Polkadot ecosystem – have also advanced lately. One of the most popular – Acala Network – completed the Sinai Upgrade at the beginning of May. 

It aims to strengthen security measures, empower the community to participate in governance decisions, improve Acala’s capabilities to interact seamlessly across different blockchains, and simplify the user experience. 

Moonbeam Network introduced “the Moonbeam Odyssey Program Trials,” which emphasizes community involvement with various events and educational initiatives.

“Anyone can join! Test your skills, strengths, and abilities to emerge victorious from the Trials and become an Odyssey Trailblazer,” the team stated.

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