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Will Polkadot Surpass Ethereum, Solana, and Cardano in 2025
- Polkadot’s market cap has fallen from $54 billion in November 2021 to $6 billion in August 2022, causing many $DOT fans to sell off their bags in search of newer, shinier chains.
- Polkadot 2.0, the “rebirth” of the network, could be the impulse the project needs to get back on its feet again.
- Polkadot is a layer 0 chain, offering infrastructure for other chains to build on top of.
- Polkadot 2.0 steps away from parachains, offering improved technical features and a more user-friendly experience.
- These new features include asynchronous backing that improves network throughput time, core times for more flexible computing resources and elastic scaling, which offers dynamic scalability.
- Polkadot also has an updated governance system in place, led by the community, which currently has a 136 rating on the Nakamoto Coefficients.
- Polkadot 2.0 shifts its focus to an application-focused approach, which should attract more projects to its ecosystem.
- It has already seen partnerships with Mythical Games and Frequency, and multiple grant and funding programs, including the JAM Implementers’ Prize with 10 million $DOT.
- There could be a new upside to the $DOT price due to these developments.
- It's hard to tell how the $DOT price will develop, but Polkadot has a good track record and Polkadot 2.0 could help it get back to its previous glory.
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