Polkadot Ecosystem Shows Steady Growth Amid Market Challenges
Polkadot Ecosystem Expansion
Polkadot, a significant contender in the crypto industry as an Ethereum rival, is witnessing steady growth. The ecosystem is drawing increased participation and developer activity, as revealed in a recent blog post by its team.
Governance and Community Engagement
The network's governance system, OpenGov, reported notable engagement in July. There were 1,134 unique voters involved in 118 referenda, showcasing the active role of DOT holders. The outcomes included 65 approvals, 29 rejections, 22 timeouts, and 2 cancellations.
Developer Activity and Contributions
Despite market fluctuations, developer activity in the Polkadot ecosystem remains robust. The network currently hosts 29,917 repositories, with weekly commits surpassing 5,500. Approximately 900 developers actively contribute weekly, maintaining the ecosystem's momentum.
Community Interaction and Growth
The Polkadot Forum remains a vibrant discussion hub, with 161 new members joining in July. The community generated 89 new topics and 676 posts, with page views reaching 300,000 and user visits at 5,800.
Coretime Sales and Market Dynamics
July saw a rise in coretime sales on Kusama, despite a reduction in core prices to below 1 KSM. A total of 62 cores were sold to 7 unique addresses, reflecting continued interest in the network’s resource allocation capabilities.
Future Developments: Polkadot Mobile App
Anticipation builds for the Polkadot Mobile App, expected to debut in September 2024. The app promises features like onboarding without passwords, wallet funding with DOT or stablecoins, and the ability to make purchases at over 1 million stores, with staking functionality soon to follow.
Enhancing Developer Tools
Two new APIs, the XCMFee Payment Runtime API and the XCMDryRunApi, were introduced to improve developer efficiency, streamlining XCM fee payments and enhancing testing capabilities.
Mythical Games Transition
Blockchain gaming company Mythical Games has migrated its Mythical Chain to the Polkadot ecosystem, bringing over 750,000 active wallets and a user base exceeding 5 million to Polkadot, further expanding its reach and user engagement.
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