Polkadot‘s third Parachain positional auction ended yesterday, with victory going to Astar Network. December 17th is an important milestone for Polkadot as the first 5 Parachains will go live on the platform.

Astar Network, a multi-chain Polkadot-dApp hub, formerly known as Plasm, won 10.3 million DOT from 27,100 contributors. The dApp hub supports Ethereum, WebAssembly, dApp staking and Layer 2 solutions.

So far there are 3 parachains in the Polkadot network, including: Acala (winner with 32.5 million DOT), Moonbeam (winner with 35.8 million DOT) and Astar.

Source: Dotmarketcap

Notably, the winning order of the first three Polkadot Parachain auctions is exactly the same as the order in which the project won the Kusama auction – Polkadot’s experimental blockchain. Accordingly, the first three projects to win the auction on Kusama were Karuka> Moonriver> Shinden Network, the first three projects to win the auction on Polkadot were Acala> Moonbeam> Astar – their “mapped” versions.

However, this model will be broken if Phala Network (PHALA) – the polkadot version of Khala Network, the fourth project to win the auction on Kusama – does not participate in the next Polkadot Parachain auction.

Polkadot Prize awaiting activation

December 17th is an important day for Hodler Polkadot as the first five winners of the Parachain race publish their projects on the platform. Proponents expect this event to have a bullish effect on the polkadot price.

Binance, the world’s largest exchange, has Polkadot listed on its platform in the United States.

The Polkadot network has achieved “sharding” or the existence of parallel blockchains in the network to increase speed and efficiency. This has increased DOT acceptance among users. Despite its growing popularity and acceptance, many still think that DOT is unlikely to replace ETH as the queen of altcoins.

Brad Laurie, a cryptocurrency instructor, believes that Layer2 platforms will be an interconnected network. Super different protocols like Polkadot will connect blockchains in Layer 1.

An analyst for “Huefin News” has set a bullish target of $ 50 for DOT. In the UK, a bullish divergence is expected for altcoins, unlike in November.

At press time, the DOT price is trading at $ 35.33, down more than 10% from the November 30 high of $ 39.3.

Source: TradingView

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Annie

According to Fxstreet

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