Popular project Polkadot (DOT) is gearing up to overhaul its Relay Chain protocol in the near future. Before this happens, a very important update was introduced to the network. The update named Asynchronous Backing, which offers an optimized approach to how blocks on Parachains are verified by the Relay Chain, has been implemented in the network.
What Does the Update Bring to the Polkadot Network?
Updating the Polkadot network is not new, as the network is regularly updated. The latest update, Asynchronous Backing, aims to double the speed of block production in the Transfer Chain. In addition, the update is expected to increase block space availability by 6-10 times.
As known, parachains or sub-blockchain networks are at the center of innovation in the Polkadot ecosystem. With this latest update, parachains in the network will now have higher block space usage.
The efficiency of Asynchronous Backing is expected to increase by 8 times. Moreover, with these significant changes, the network will try to achieve its targeted scalability without compromising security, paving the way to support Web3 applications in areas such as gaming and decentralized finance (DeFi). Polkadot encourages large-scale corporate adoption in its ecosystem through developer-focused innovations. The network stated that the business volume brought by this latest update is important for supporting large-scale platforms like Mythical Games.
So far, the update has helped the main network asset DOT rise over the past week. At the time of writing this article, DOT has fallen to $7.02 in the last 24 hours, a decrease of 1.2% following the general market downturn, but it is trading up 11.09% on a weekly timeframe.
In addition to being listed on the best cryptocurrency exchanges, the development work on the network keeps the Polkadot Blockchain among the most active blockchains in the sector.
Towards Polkadot 2.0
On the other hand, Polkadot said that the Asynchronous Backing update is one of three major technology stacks to launch the vision of Polkadot 2.0. The community of the altcoin is now focused on the “Elastic Scaling” and “Agile Coretime” updates, which aim to bring more benefits and performance to the Polkadot ecosystem following the Asynchronous Backing update.
