Polkadot seems to be continuing his plan to innovate the Parachain ecosystem that has been developed so far.
This innovation was carried out with concrete evidence through the Rococo Testnet, which seemed to have had a new member.
The Polkadot ecosystem seems to continue to grow, especially with the launch of the Rococo Testnet, which already has new members.
Its member is the Acala Network, one of the networks in the Decentralized Financial Sector, which got its place on March 26, 2021.
Acala was founded in January 2020, with the aim of creating a cross-blockchain financial infrastructure at Polkadot.
In February 2021, Acala officially launched the Ethereum Virtual Machine (EVM) using the Polkadot substrate framework.
This makes cross-blockchain operational ease for Ethereum Blockchain based assets.
Acala is currently also getting positive encouragement from the inauguration of the Parachain Polkadot ecosystem.
This is due to Acala's function that drives cross-blockchain operations, which has a positive impact on Polkadot and Acala.
Polkadot Ecosystem Growth
The Parachain Ecosystem has officially made an innovation by implementing a sharding system.
With this system, the Polkadot ecosystem will create several sidechains to process transactions simultaneously.
In the Parachain ecosystem, the Parachain slot itself is obtained through an auction process, where several projects compete in the auction for a place in Parachain.
In fact, Polkadot launched another parachute testnet in August 2020, to test the sharding implementation.
However, due to several evaluations, several innovations have been implemented which were also carried out with Kusama.
Kusama, will later become Parachain's next testing platform, before switching to the Polkadot mainnet.
Acala also plans to issue stablecoins linked to the US Dollar, for Polkadot-based project operations.
Polkadot and Dao alliance cooperation has also been announced on March 26, 2021.
The alliance was formed to encourage the development of the decentralized Polkadot ecosystem.
The alliance consists of 11 genesis members including SubDAO, Plasm, Phala, Stafi, Bifrost, Darwina, Zenlink, and DeepDAO.
The purpose of forming this alliance is to be able to create encouragement funds for several Polkadot-based start-ups.
This statement was conveyed through an announcement which reads,
"The alliance will launch a DAO Ecosystem Development Fund with several million US Dollars to support early stage projects related to DAO and Web 3.0."
Polkadot's growth has been very significant in recent weeks, especially in 2021.
As a result of this growth, Polkadot's native token, DOT, is seen rising by around 250% since the start of 2021.
Currently, Polkadot (DOT) is also ranked in the top 10 market cap in Crypto Market.
The majority of analysts predict that DOT and some DOT-related tokens, such as Kusama (KSM), will increase significantly due to the growth and interest around them.
So, DOT is a token that is suitable for use as an investment instrument in the long term.
