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Polkadot's (DOT) price performance is closely correlated with its current ecosystem milestones. Per CoinMarketCap's data, Polkadot is changing hands at a spot price of $6.42, up by 3.77% over the past 24 hours. Per the current outlook, the world's 11th largest crypto by market cap is paring off the minor losses it accrued over the past week.
In a recent ecosystem update, the duo of Bill Laboon and the Polkadot protocol shared some impressive milestones to watch across the board. While Laboon highlighted the release of Kagome 0.9.0, a Polkadot Host implementation written in C++, it showcased the steady embrace of new systems to support core protocol users.
THREAD - @Polkadot #PolkadotDigest 11 Apr 2023#Polkadot News
— Bill Laboon | Web3 Foundation (@BillLaboon) April 11, 2023
Kagome 0.9.0 has been released. Kagome is a Polkadot Host implementation written in C++. This version includes parachain and light client support. https://t.co/79f3g5J7mv
Several parachains within the Polkadot network also recorded impressive integration over the past few weeks. While Astar Network made history as the first parachain to support the EVM and WASM VM Smart Contracts, Acala Network recently released cross-chain token library xtokens for cross-chain token transfer functionalities.
The outlook of the Polkadot protocol is even more enhanced as more Parachains secured mega partnerships that can help bolster the overall use case for the protocol.
Tomiwabold OlajideSetback in the works
While there is more than enough positive news happening with the Polkadot ecosystem, one key governance protocol that was proposed a while ago is currently facing resistance. This proposal is Referendum 112, proposing to immediately increase the number of validators in the active set from 297 to 500.
The proposal is currently failing, with just 26% of the votes cast in favor and with about 19 days left to vote. While it is generally known that the higher the number of validators, the more secure the protocol is, ecosystem members appear to be seeing friction ahead and thus account for the current lack of support being granted to the proposal.
Should the referendum fail to pass, nothing will change, but it will highlight the powers of the Polkadot governance ecosystem.
Yuri Molchan
Vladislav Sopov
Dan Burgin
Alex Dovbnya