On their Twitter page, Polkadot posted a tweet in which they discussed a number of proposals for major network enhancements that would be implemented soon.
They went into great detail in their official statement about the additional features that network members can anticipate seeing implemented in the coming days.
Some upcoming upgrades
In an effort to improve finality and reduce block duration (from 12 seconds to six seconds), the network is implementing Asynchronous Backing.
A parachain called Parathreads has also been proposed. This pay-as-you-go parachain makes it simple to create a blockchain and use a smart contract.
The Polkadot Fellowship was also proposed as a way to replace the council and technical committees and make all community decisions subject to referendums.
This metric appears to concur.
With a score of 86.14, an examination of Santiment’s development metric revealed a very active development phase. It is evident that developers are working hard, and additional features are likely to be made available soon.
The line showed an upward trend in addition to a high metric, indicating that development activity was on the rise and would likely continue to do so.
DOT is dissatisfied.
The chart showed that the announcement of the new features did not go over well with the share price of DOT. The token was worth $6.34 at the end of trading on October 6, down from its opening price of $6.44.
It was as low as $6.25 during the same time period, down 1.55%. At the time of writing, the token was trading at a loss of approximately 1%.
The altcoin was unable to break through the $6.85 resistance level, as indicated by the trend lines. The solid support level of $6.10 appeared to be holding at first glance.
According to the graph, recent movement has primarily been sideways, with little decisive upward or downward movement.
According to the Relative Strength Index (RSI) and the Directional Movement Index (DMI), the overall momentum of the DOT market is bearish.
The signal, plus, and minus DI lines were all found to be below the 20 level in the DMI, while the neutral line was found to be below the RSI line. Even so, the indicators suggested that the bear trend was not very strong.
Polkadot will undoubtedly see an increase in its user base when these updates are made available. Long-term holders of DOT will be able to take advantage of this by influencing the price movement of the DOT in a favorable manner.
However, any subsequent rally for the coin in the medium term will be contingent on its breaking through the existing resistance.
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