Polkadot team to deploy 1,000 parachains

The leading developer of the Polkadot ecosystem — Parity Technologies — will expand the parachain limit in the ecosystem from 100 to 1000 following the update on ‘asynchronous support’. The report comes from The Block.

Speaking at the sub0 conference in Lisbon, Parity’s head of development Sofia Gold noted that the upcoming update will improve the Polkadot consensus protocol. The update aims to reduce the time to produce a block in parachains from 12 to 6 seconds, as well as increase capacity by 5–10 times.

“Asynchronous support enables flexible planning for our future scaling work. We have a robust roadmap that will allow Polkadot to support 1000 parachains and more than 1 million transactions per second. The design is ready — we know how to scale the network in the near future,” Gold emphasised.

The release of the ‘asynchronous support’ in the Rococo testnet is planned for around two weeks.

The developer added that by the end of 2024 Polkadot will triple the number of validators to 1,000, calling the initiative “the most significant evolution of parachain consensus since their launch two years ago.”

In October 2021, the Polkadot team announced the conduct of auctions for parachain slots. The first round ended in mid-December — the winners were Clover Finance, Parallel Finance, Astar, Moonbeam and Acala.

In February 2022, came to an end the ninth auction, where HydraDX won the project. Users staked more than 2.46 million DOT in support of it, worth $50.65 million.

In June, Polkadot connected to the Cosmos blockchain space via the Inter-Blockchain Communication protocol.

In September, Circle launched the USDC stablecoin on the Asset Hub parachain.