There are several blockchain protocols with different use cases and functions. One such blockchain protocol with a unique function alongside its token (DOT) is "Polkadot."
It is a decentralized app primarily designed to enable unrelated blockchain protocols and components to interact and share values & data. It ensures the free flow of interaction without an intermediary.
The Polkadot protocol uses parallel blockchains called "Parachains" to relieve the main blockchain of processing demands. It also ensures speedy and scalable functions of the main blockchain.
It is interesting to know that Polkadot has its main relay chain and Parachains that work together and ensure faster transaction processing on the blockchain. The network can process more than 1000 transactions per second (1000 tx/s).
With this exceptional feature, you can imagine how big the protocol will grow and the rate at which developers will be adding more parachains to the network.
It, therefore, did not come as a surprise when it reached an all-time high development activity.
GitHub, a programming repository, released data that, in September, the network recognized over 500 contributions per day. That is, from the first day to the last day of September 2022, there were at least 500 contributions to this multi-chain protocol — signifying an all-time high record.
Similarly, data from Polkadot's cross-consensus interoperability standard XCM (message format) revealed that 26,258 messages were sent between the protocols parachain. Shortly after, the protocol had about 14,930 developers' contributions on its GitHub in August.
Since the public launch, over 140,000 messages have been exchanged between chains via 135 messaging channels. The developer revealed that there are currently 66 blockchains live on its mainnet protocol and Kusama, its startup network.
Polkadot and Kusama treasuries revealed that they have jointly paid out about 9.6 million DOT and 346,700 KSM ($72.8 million) to fund spending proposals in the ecosystem.
To ensure the Polkadot and Kusama blockchain continues to work optimally, Polkadot founder Rob Habermeier published a roadmap. The roadmap will enhance Polkadot and Kusama's scalability.
The roadmap reveals that some features will be added to the protocol. They include asynchronous backing and the decoupling of the extension of parachains from the extension of the relay chain.
The new features will serve as a potential mechanism for cutting parachain block time by 50% while increasing block space to 10 fold. The upgrade is estimated to increase network speed to between 100,000 to 1 million transactions per minute when the upgrade goes live.
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