2023-09-24
At the sub0 developer conference in Lisbon that took place
on September 19-20, 2023. Polkadot developers announced that they are
planning to expand Parachains from 100 to 1,000 Parachains.
A Parachain is a blockchain network that run in parallel with the Relay Chain. These Parachains such as Moonbeam and Acala. All Parachains are interoperable with one another. The Relay Chain is the central chain that allows interoperability between different blockchains within the Polkadot network.
Sophia Gold, Engineering Lead at Parity Technologies said that
“We have a credible roadmap to get Polkadot to support 1,000 parachains and 1m+
transactions per second. The design is there - we know how to scale Polkadot
for the indefinite future.”
Polkadot also introduce “Asynchronous Backing” a scaling solution
for Polkadot network. It will be deployed on Polkadot's Rococo testnet in about two weeks.
About Polkadot
Ranking: 13th largest
crypto by market cap.
Market cap: $5.517
billion.
Fully diluted market cap: $5.462 billion.
Inflation: Polkadot
inflation rate is about 10%.
Transactions per second: A Parachain can process 1,000 TPS. Once asychronous backing in enabled a Parachain process 100,000 - 1,000,000 TPS.
Time to finality: Polkadot takes 6 seconds to process a transaction.
As of September 24, 2023.
Polkadot developers are working toward boosting scalability of the Polkadot network.
