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The Progress of Polkadot Ecosystem
The Polkadot ecosystem has seen significant growth and development, with the number of monthly active accounts reaching a new all-time high in April. This milestone demonstrates the increasing popularity and adoption of Polkadot’s unique features, especially parachains.
Increasing User Activity
Since the introduction of parachains in 2022, the ecosystem has continued to attract more users and developers. Key projects like Moonbeam, a smart contract platform, have experienced near record highs in active users ahead of the community vote on the JAM Upgrade.
Blockchain research firm Messari’s analysis revealed a 48% increase in transactions on Polkadot in the last quarter. Additionally, the use of XCM messages, which enable communication with blockchains using different consensus mechanisms, saw a significant rise of 94% quarter-over-quarter and 314% over the past 6 months.
Asynchronous Backing Implementation
A major development in the Polkadot ecosystem is the implementation of Asynchronous Backing on the Relay Chain. This new approach to validating parachain blocks is expected to improve block production speed, increase available block space, and enhance the utilization of parachain blocks.
Compared to traditional Synchronous Backing systems, Asynchronous Backing reduces the risk of discarding valuable block data, benefiting applications in gaming and DeFi sectors. By allowing multiple unincluded parablocks to exist in the Relay Chain pipeline simultaneously, this update optimizes network efficiency and resource utilization.
StellaSwap Analytics Dashboard
StellaSwap, a popular decentralized exchange for Polkadot-based tokens, has launched a new analytics dashboard on Dune Analytics. This public dashboard provides users with key metrics such as daily volumes, pool breakdowns, swap volume, active accounts, and unique accounts, offering valuable insights into the platform’s performance.
Overall, the progress and achievements within the Polkadot ecosystem underscore its position as a leading blockchain network, driving innovation and adoption in the decentralized finance space.
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