TLDR:
Polkadot launched Agile Coretime, a key component of Polkadot 2.0 upgrade
DOT price surged 8% following the update announcement
Agile Coretime allows on-demand blockspace allocation, improving flexibility and cost-efficiency
The update lowers barriers for developers to build on Polkadot
Market indicators suggest potential for continued bullish trend for DOT
The blockchain platform Polkadot has launched a major update called Agile Coretime, causing its native token DOT to jump 8% in price. This update is a key part of the broader Polkadot 2.0 upgrade aimed at enhancing the network’s performance and usability.
Agile Coretime introduces a new system for managing computational resources on the Polkadot network. Unlike the previous auction system that allocated blockspace through two-year leases, Agile Coretime allows for dynamic, on-demand allocation based on network needs. This change is designed to make the platform more efficient and cost-effective for developers.
It’s LIVE Agile Coretime—one of the foundations of Polkadot 2.0—is here!
That means:
Increased Flexibility & Scalability
Lower Barrier to Entry for Builders
Predictable Costs
— Polkadot (@Polkadot) September 19, 2024
“Agile Coretime allows projects to procure blockspace as needed,” explained Derek Yoo, CEO of Moonsong Labs. “This reduces costs and increases flexibility, making Polkadot more appealing to a wider range of developers.”
The update is expected to benefit both small and large projects. Newer initiatives can now access Polkadot’s resources without committing large amounts of DOT upfront. More established projects can secure bulk resources for stable performance and predictable costs.
Following the announcement, the price of DOT rose from around $4.00 to $4.34, representing an 8.15% increase. This price movement has been accompanied by positive market indicators.
The Moving Average Convergence Divergence (MACD) shows higher lows, suggesting DOT may be nearing a potential bottom. Additionally, the Chaikin Money Flow indicator points to increasing buying pressure, which could signal further price gains.
The Polkadot team has outlined three main benefits of Agile Coretime: increased flexibility and scalability, lower barriers to entry for builders, and more predictable costs. These improvements are expected to make the platform more attractive to developers and potentially drive increased adoption.
Agile Coretime is part of a larger roadmap for Polkadot 2.0. The next significant upgrade planned is Elastic Scaling, which will allow chains to use multiple cores within a single block. This feature aims to improve network topology and reduce congestion during high-traffic periods.
As of September 20, 2024, DOT was trading at $4.24, showing a 0.75% increase over the past 24 hours and a 1.51% gain over the past week. The long position for DOT currently stands at 73%, indicating growing optimism among investors.
While the initial market reaction to Agile Coretime has been positive, it remains to be seen how this update will affect Polkadot’s long-term growth and adoption.
The post Polkadot (DOT) Price Rises 8% After Agile Coretime Update Release appeared first on Blockonomi.
