2024-05-13
The blockchain protocol has recently gained significant attention for its recent advancements.
The protocol has introduced Asynchronous Backing on the network, which is an optimized approach for validating parachain blocks on the Relay Chain.
The Relay Chain plays a crucial role in the Polkadot ecosystem as it enables communication and interoperability between different parachains. It also handles the inter-chain messaging passing (XCMP) protocol.
Following the upgrade, blocks are now produced twice as fast, and the available blockspace has been boosted by 6-10 times.
Additionally, the development has led to 3-5 times more extrinsic per block and higher utilization of parachain blocks.
The team at Polkadot has stated that Async Backing significantly enhances throughput by 8 times without compromising security.
This advancement is essential for supporting Web3 applications in various sectors, including gaming and DeFi.
It brings Web2 scale within reach of Web3, which is particularly crucial for large-scale platforms like Mythical Games.
A few weeks ago, Polkadot released the Join-Accumulate Machine (JAM) Gray Paper, a prospective design that combines elements of Polkadot and Ethereum.
JAM provides a global singleton permissionless object environment, similar to Ethereum's smart-contract environment, coupled with secure sideband computation parallelized over a scalable node network, a concept pioneered by Polkadot.
Another significant development on the horizon is a potential partnership between Polkadot and the American soccer club, Inter Miami.
Nico Zini, the Partnership Marketing and Media Rights representative for CF, the team behind Inter Miami, revealed that there are discussions about an $8.8 million sponsorship deal with the blockchain protocol.
It is worth noting that Inter Miami boasts notable figures such as Argentine legend Lionel Messi and co-owner David Beckham.
This marks Polkadot's second attempt to enter the soccer world, as they previously had an opportunity to become FC Barcelona's official jersey sponsor.
However, the Catalan club ultimately chose Spotify for the sponsorship.