According to Gavin Wood, that can be expected from $ 29 billion in altcoins in 2022

A blockchain pioneer gives its forecast for 2022 for an altcoin that had a breakthrough year in both price and project milestones.

In a post on Blog Ethereum co-founder Gavin Wood is now discussing the future of the Polkadot (DOT) cross-chain interoperability protocol, which he founded in 2016.

“The year 2022 marks the beginning of the next chapter in Polkadot’s story. In the marketplace, the prospect of hyperconnectivity under a single secure roof that Polkadot offers will come true as more Parachain teams win the auctions and join the family.

With over 150 multipurpose chains under development, many of which already have testnets in place, much is to be expected. We also have the introduction of decentralized bridges, first the Parity bridge which will connect Polkadot to Kusama and later that of Snowfork which will connect Polkadot to Ethereum. “

Wood said Polkadot intends to optimize the core code as well as reduce network costs and minimize latency.

“Our goal is for each of Polkadot’s parachains to meet our target of 1,000 sTPS (standard transactions per second) per shard.

Additionally, the Polkadot team’s efforts are focused on the parathreaded feature that allows non-auction teams to continue to enjoy Polkadot security and all the benefits of XCMP (Cross-Chain Messaging).

DOT price rose from lows below $ 10 in January to highs above $ 49 in May and $ 55 in November, but has corrected significantly since then. The 10th cryptocurrency is currently trading for $ 29.13.

Source: TradingView

The creator of Polkadot also emphasized his commitment to rooting out scammers from the crypto space.

“In 2021, members of the Web3 Foundation and Parity Technologies will come together to form the anti-phishing team determined to stop fraudulent rule and make Polkadot a safe stakeholder ecosystem. . An additional $ 130,000 was spent by the Polkadot Treasury and the Web3 Foundation to fight the scams.

Nearly a thousand websites and other scams have been disabled over the past year, with more than 460 scam sites identified by the community. The Phishing Archive, a comprehensive list of websites and addresses related to phishing and fraud, currently has more than 2,300 entries.

In 2022, the Anti-Scam Community Initiative will grow, encompassing more than just scam sites, community-led development, collaboration with other ecosystem teams and projects, while laying the foundation for the first on-chain and decentralized anti- Phishing campaign. “

Wood concludes by highlighting Polkadot’s successful fundraising initiatives over the past year.

“Our ecosystem continues to grow rapidly, also from an investment perspective – we estimate that it now comprises around 350 teams (last year the estimate was around 250).

In 2021 alone, around 50 of these teams collectively raised over $ 670 million in early-stage funding (seeding and Series A). “

Join Bitcoin Magazine Telegram to keep track of news and comment on this article: https://t.me/coincunews

Follow the Youtube Channel | Subscribe to telegram channel | Follow the Facebook page