Polkadot proposes new developments to boost its network; Will DOT make a comeback?

• Polkadot Governance to extend the variety of lively validators on the community.
• The variety of stakers continued to rise, nonetheless DOT costs declined.

Polkadot [DOT] , regardless of having an expansive community of useful parachains, was nonetheless not in a position to develop in varied sectors. To compensate for the sluggish progress, the staff at Polkadot has been engaged on new developments so as to add to the protocol.

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One of many adjustments being proposed was to boost the variety of lively validators on the community from 297 to 400 inside a month.

This could be carried out so as to scale back the quantity of DOT wanted to accumulate a validator, which can make it extra accessible to a wider vary of customers. The neighborhood has mentioned the chance and the necessity for Polkadot to extend the validators set.

The suggestions to the proposals indicated that there’s curiosity in climbing the variety of validators in increments. It was additionally identified that there must be some evaluation of the results to make sure there are not any safety issues.

The collaborating members consider that elevating the lively set to 400 validators with increments of 5 per period wouldn’t compromise the safety of the chain and would permit for pure leveling because the set will increase.

What ought to DOT holders do?

Regardless of the makes an attempt made by Polkadot to enhance its community, the value of DOT continued to say no. Up to now month, DOT’s worth fell from $6.40 to $5.78. By way of quantity, a decline of 56 million was noticed throughout the identical interval.

Supply: Santiment

Although addresses have been unwilling to build up DOT at press time, the identical pessimism wasn’t shared by DOT stakers. Within the final 30 days, the variety of stakers on the Polkadot community elevated by 5.25%.

Attributable to this surge, the entire variety of addresses staking DOT grew to 32,209.

Supply: Staking Rewards

Reasonable or not, right here’s DOT market cap in BTC’s phrases

Polkadot’s makes an attempt to increase its attain globally might assist enhance the curiosity in its token. In keeping with a latest update, Polkadot Governance was noticed to be in talks to increase the Polkadot Hub to elements of South East Asia.

For context, Polkadot Hubs are Polkadot community-operated bodily locations. Right here individuals who share an curiosity in Polkadot meet and work on ecosystem tasks.