Polkadot (DOT): Two projects guarantee the survival of the network

If he had positioned himself in the spotlight and was in full view, Polkadot (DOT) unfortunately did not last long. Indeed, the slow deployment of auctions parachain and launches of main network left the network in a catch-up position with other networks in 2021. However, this trend has now come to an end, as many of the network’s projects have gone up in value.

Projects that spotlight Polkadot (DOT)

Interoperability has been one of the driving themes of the cryptocurrency market over the past year. It is this concept that has allowed Polkadot to make a comeback on the scene of high-performance networks. A few of his projects were created based on this concept. Examples include Moonbeam (GMLR) and Astar (ASTR).

Moonbeam is a parachain smart contract that facilitates the use of Ethereum development tools. The purpose of this tool is to build or redeploy projects Solidity in the Polkadot environment in a safe and certain way for network users.

This is the first parachain to go live on the Polkadot mainnet and it plans to bring on-chain governance, staking, and cross-chain integration to core Ethereum functionality.

As for Astar, it is a decentralized application center (DApp) that supports a variety of standards, including Ethereum, WebAssembly (WASM), and Tier 2 solutions like zk-Rollups. The goal of the protocol is to become a multi-chain smart contract platform able to support multiple blockchain networks and virtual machines.

The network’s DeFi ecosystem still in its infancy

The decentralized finance (DeFi) ecosystem on Polkadot has started to gain momentum, thanks to new developments from Acala and Centrifuge.

Acala played an important role in Polkadot’s DeFi ecosystem by bringing its first native stablecoin – aUSD – to the network. It is important to emphasize that aUSD is indispensable for the development of Polkadot, because it is thanks to this project that Polkadot joined Frax Share and Curve Finance in the “stablecoin wars”.

As for Centrifuge, it is a decentralized asset finance protocol designed to do the link between the real world and decentralized finance (DeFi) by creating tokens for various services, including payment of bills, real estate, etc.

The Polkadot (DOT) network no longer has the success it had at the beginning of its activity, when it was launched on the market. If he had caught the attention of several people, unfortunately, he lost it afterwards. However, nothing is lost. New projects can breathe new life into the network.

Source: Cointelegraph

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