Polkadot maintains developer growth with strong Q2 metrics

POLKADOT, the multichain network and open platform for secure Web3 innovation, has hit a number of impressive adoption milestones. It is actively demonstrating sustained momentum and community support despite the current industry-wide downtrend.

By PolkadotJuly 11, 2022

Polkadot, the multichain network and open platform for secure Web3 innovation, has hit a number of impressive adoption milestones. It is actively demonstrating sustained momentum and community support despite the current industry-wide downtrend.

By the end of June 2022, the following additional milestones were reached:

Messari, a leading independent provider of blockchain data, has produced some additional statistics in its Q2 report into Polkadot. These include:

The report adds: “During the second quarter of 2022, strong developer activity has been Polkadot’s plus point. As observed in available data, developer activity scored an average of 11,000 developer activity events per month. Evidently, Polkadot’s developer activity remains among the strongest in the crypto market.”

The Messari report concluded: “Despite a brutal macro-environment, Polkadot’s on-chain activity was consistent quarter over quarter. During Q2 2022, Polkadot had roughly 435,000 users.

“Concurrently, foundational KPIs held steady with a healthy validator distribution by total stake, strong developer activity, and seven additional parachains onboarded.”

Continued innovations include XCM rollout

Meanwhile, XCM, Polkadot’s cross-consensus messaging and data transfer standard, has reached a stage whereby the network’s various parachains can integrate with each other easily and with confidence, developing use cases and creating real-life solutions.

This radical interoperability technology has seen rapid adoption since its launch on May 4th. Parachain teams have already opened 111 messaging channels between themselves, sending approximately 10,000 messages per month.

Substrate Marketplace launched

A new hub for the “pallets” or modular building blocks that allow builders in the Polkadot or Kusama ecosystems to easily design their bespoke blockchains has gone live on the Substrate website.

In addition to the open-source pallets natively included with Polkadot’s Substrate blockchain framework, developers can now browse those developed by the community and offered up under various open-source licenses, with nearly 100 available at launch.

Governance changes in the pipeline

Co-founder Dr Gavin Wood has announced a ground-breaking new governance process, intended to promote more agile and democratic decision-making. It will remove elected bodies such as the Polkadot Council and Technical Committee and dramatically increase the potential number of collective decisions on the blockchain.

Intelligent Staking

An advanced active learning algorithm now provides individual recommendations to nominators in Polkadot’s staking system, and is based on the first scientific studies ever funded by the Polkadot Treasury.

Media inquiries: press@parity.io

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