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Polkadot token becomes the 6th largest token by market cap, surpasses Bitcoin Cash

Polkadot token becomes the 6th largest token by market cap, surpasses Bitcoin Cash

In the last year, the Polkadot token, DOT, has grown to become the 6th largest crypto by market cap. It has surpassed various leading crypto-assets like Bitcoin Cash. Recently, the Polkadot token has surpassed a market capitalization of approximately $7 billion. It has defeated other opponents like EOS and Cardano. Gavin Wood, the co-founder of Polkadot, shares how the most active token in the DeFi ecosystem, Ethereum, is ahead of Polkadot. Wood further laid out the goals and road map for the company in 2021.

Polkadot plans to provide an efficient network.

According to the post, Polkadot has served as an ecosystem that enables transferring digital assets over various blockchains. Recently, the center of the project focuses on interoperability contributed towards Ethereum. Wood stated the Polkadot concentrates on offering a more efficient network. The company also has integration plans for other platforms in the future. 

Wood elucidates that 2021 is a significant year for the growth and development of the Polkadot platform. It plans to incorporate features like parachain. Thus, allowing the project developers to develop more apps on the parachains. There are also expectations that the smart contract capability of Ethereum will be made available before the end of the second quarter of the year.

Dedicated to its mission, Polkadot also distributes grants to developers for improvement of the platform. The developers receive grants via Polkadot’s native token DOT. It has gained momentum over the last year. He announced that the ecosystem would bring innovations like parachain and lease them to project developers thriving to develop more applications on parachain. Predictions state that the Ethereum’s smart contract ability on Substrate would be accessible in the Q1 or Q2 of next year.

Currently, the price of crypto assets is rallying massively. Bitcoin, Ethereum, and other digital assets have heightened with more adoption and acceptance of these assets. The Polkadot token is also equally rallying amidst other cryptocurrencies. The token has also accumulated momentum, thus currently trading for $8.2. 

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