Polkadot: Can these new proposals lure in users to the network

PolkaSafe on the Polkadot network proposes to make new changes and hints at collaboration with various firms. Despite new developments, Polkadot fails to see growth on the social front.

Timeline of Polkadot-new

Although Polkadot showed some recovery on the price front, its social metrics didn't exactly paint an all-bullish picture. To add to the misery, DOT's price indicators also needed some recovery.

Interoperability blockchain Polkadot (DOT) and its canary test network Kusama (KSM) continue to outrun the rest of the crypto space in terms of development activity, according to the crypto analytics firm Santiment. Santiment notes that Polkadot and Kusama both registered 527.7 notable GitHub commits in the past 30 days, leading all other crypto projects.

The Polkadot (DOT) price failed to break out from a key diagonal resistance line for the fourth time. It trades close to the convergence of important support and the aforementioned diagonal resistance.

The relay chain has a protocol that is designed to evaluate the shared network security, cross-chain interoperability, and consensus mechanism. It ensures that the participants stay in touch normally as well as performing transactions properly.

Polkadot (DOT) has enjoyed a successful three-week period, with bullish investors maintaining their position at the forefront despite fluctuations in the market. In addition, the recent legal victory of Ripple against the US Securities and Exchange Commission triggered a positive response across the entire market, benefiting not only significant cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH) but also altcoins in general.

Polkadot's founder, Gavin Wood, has proposed a major shift in how the blockchain network allocates resources. This initiative, referred to as Polkadot 2.0, reimagines the network's architecture as a conglomerate of sovereign chains connected by treaty-like 'accords.

Dr Gavin Wood, the creator of Polkadot, made a ground-breaking revelation about his ambitious aspirations to build a global supercomputer on the Polkadot network. The announcement was made during the recent Polkadot Decoded conference when Wood highlighted the vast potential of Polkadot and outlined its key features.

Multi-chain crypto network Polkadot has the highest developer activity, according to recent research. However, that has not been reflected in the prices of its native token DOT which remains in the digital doldrums.

The crypto market is facing a very erratic volatility that has forced a number of top altcoins to shed some of their gains in recent times. Polkadot (DOT), despite its positive ecosystem updates, has also seen its price slip over the past few weeks.

Polkadot (DOT) is maintaining quite a vibrant ecosystem and is taking a bold detour from its peers with its focus on artificial intelligence (AI). As unveiled by the proof-of-stake (POS) blockchain protocol, there has been significant growth in its ecosystem with respect to its AI advances.