{"id":428742,"date":"2022-04-09T00:00:00","date_gmt":"2022-04-08T21:00:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/altcoin-roundup-interoperability-push-puts-attention-back-on-polkadot\/"},"modified":"2022-04-09T00:00:00","modified_gmt":"2022-04-08T21:00:00","slug":"altcoin-roundup-interoperability-push-puts-attention-back-on-polkadot","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/altcoin-roundup-interoperability-push-puts-attention-back-on-polkadot\/","title":{"rendered":"# Altcoin Roundup: Interoperability push puts attention back on Polkadot"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a29753fbe4cd\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a29753fbe4cd\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/altcoin-roundup-interoperability-push-puts-attention-back-on-polkadot\/#%E2%80%9D_Altcoin_Roundup_Interoperability_push_puts_attention_back_on_Polkadot_%E2%80%9C\" >&#8221; Altcoin Roundup: Interoperability push puts attention back on Polkadot &#8220;<\/a><ul class='ez-toc-list-level-2' ><li class='ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/altcoin-roundup-interoperability-push-puts-attention-back-on-polkadot\/#Interoperability_is_the_key\" >Interoperability is the key<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/buradabiliyorum.com\/en\/altcoin-roundup-interoperability-push-puts-attention-back-on-polkadot\/#Polkadots_DeFi_ecosystem_is_still_in_its_infancy\" >Polkadot\u2019s DeFi ecosystem is still in its infancy<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/buradabiliyorum.com\/en\/altcoin-roundup-interoperability-push-puts-attention-back-on-polkadot\/#Web3_pivot_catalyzes_growth\" >Web3 pivot catalyzes growth<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/buradabiliyorum.com\/en\/altcoin-roundup-interoperability-push-puts-attention-back-on-polkadot\/#Want_more_information_about_trading_and_investing_in_crypto_markets\" >Want more information about trading and investing in crypto markets?<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Altcoin_Roundup_Interoperability_push_puts_attention_back_on_Polkadot_%E2%80%9C\"><\/span>&#8221; Altcoin Roundup: Interoperability push puts attention back on Polkadot &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div class=\"post-content\" data-v-2a0745c6>The Polkadot ecosystem sorely underperformed compared to other layer-1 networks in 2021, while the slow roll-out of parachain auctions and mainnet launches left the network playing catch-up in 2021.<\/p>\n<p>It <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>ears that this trend came to an end in mid-March when numerous projects in the Polkadot ecosystem saw their prices climb higher after users began to engage with networks that expanded their offerings and made a push toward Ethereum Virtual Machine (EVM) compatibility.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-04\/f7a65ba8-c67f-4881-be31-0b6f1b396b67.png\"><figcaption style=\"text-align: center;\"><em>DOT, GLMR, ACA, ASTR, SAITO, CFG and KYL in USDT pairs. Source: TradingView<\/em><\/figcaption><\/figure>\n<p>Here\u2019s a look at six top moving protocols in the Polkadot ecosystem that are helping to establish a presence in the cryptocurrency market.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Interoperability_is_the_key\"><\/span>Interoperability is the key<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Interoperability has been one of the driving themes of the cryptocurrency market for the past year, and Moonbeam (GMLR) and Astar (ASTR) are two Polkadot parachains focused on bringing multichain compatibility with Ethereum other networks. <\/p>\n<p>Moonbeam is a smart contract parachain aiming to make it easier to use Ethereum developer tools to build or redeploy Solidity projects in Polkadot\u2019s substrate-based environment. <\/p>\n<p>It was the first parachain to go live on the Polkadot mainnet and plans to bring on-chain governance, staking and cross-chain integration to the base Ethereum feature set. <\/p>\n<p>Astar is a decentralized application (DApp) hub that supports a variety of standards including Ethereum, WebAssembly (WASM) and layer-2 solutions like zk-Rollups. The goal of the protocol is to become a multichain smart contract platform capable of supporting multiple blockchain networks and virtual machines. <\/p>\n<p>Since its launch in late January, the Astar network has seen the total value locked on the protocol hit a high of $1.47 billion, and the metric currently sits at $1.31 billion, according to data from DefiLlama. <\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-04\/e237e385-f633-4bf1-93dc-dcac4641d18a.png\"><figcaption style=\"text-align: center;\"><em>Total value locked on Astar. Source: DefiLlama<\/em><\/figcaption><\/figure>\n<p>Moonbeam and Astar provide an important service to the Polkadot ecosystem as the Polkadot Relay Chain does not support smart contracts.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Polkadots_DeFi_ecosystem_is_still_in_its_infancy\"><\/span>Polkadot\u2019s DeFi ecosystem is still in its infancy<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The decentralized finance (DeFi) ecosystem on Polkadot has started to gain traction thanks to new developments from Acala and Centrifuge. <\/p>\n<p>Acala has filled an important role in Polkadot\u2019s DeFi ecosystem by bringing the network its first native stablecoin \u2013 aUSD. <\/p>\n<p>Stablecoins have become a fundamental piece of the underlying DeFi infrastructure and the addition of aUSD brings a decentralized stablecoin to market that is collateralized by Polkadot (DOT), DOT derivatives and eventually by cross-chain assets like Bitcoin (BTC) or Ether (ETH).<\/p>\n<p>With Acala and aUSD, the Polkadot ecosystem has now joined the likes of Terra, Frax Share and Curve Finance in the ongoing \u201cstablecoin wars\u201d that have become a dominant theme in the evolution of DeFi. <\/p>\n<p>Centrifuge is a decentralized asset financing protocol designed to bridge the real world with DeFi by bringing through the tokenization of assets like invoices, real estate and royalties.<\/p>\n<p>The main objectives of the protocol are to help users generate profits that are not tied to cryptocurrency assets, lower the cost of capital for small mid-size enterprises and provide investors with a stable source of income.<\/p>\n<p>With Centrifuge, companies are able to use tokenized real assets as collateral to access financing on the DApp lending protocol Tinlake. <\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Acala, nine parachain teams, and a group of venture funds have launched the $250 million &#8216;aUSD Ecosystem Fund&#8217; \ufe0f<\/p>\n<p>The fund is seeking early-stage projects from any <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/Polkadot?ref_src=twsrc%5Etfw\">@Polkadot<\/a> or <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/kusamanetwork?ref_src=twsrc%5Etfw\">@KusamaNetwork<\/a> parachain with strong <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/search?q=%24aUSD&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$aUSD<\/a> stablecoin use cases <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/OJ2V47ZUry\">https:\/\/t.co\/OJ2V47ZUry<\/a> <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/NDgLg2bG8N\">pic.twitter.com\/NDgLg2bG8N<\/a><\/p>\n<p>\u2014 Acala (@AcalaNetwork) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/AcalaNetwork\/status\/1506662185006616598?ref_src=twsrc%5Etfw\">March 23, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Acala and Centrifuge are taking part in the $250 million \u201caUSD Ecosystem Fund\u201d that was launched on March 23, shortly before the Polkadot ecosystem began to trend higher. <\/p>\n<h2><span class=\"ez-toc-section\" id=\"Web3_pivot_catalyzes_growth\"><\/span>Web3 pivot catalyzes growth<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Web3 is another buzzword trending across the crypto ecosystem, and the term is really just a fancy term for the integration of blockchain <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/technology\/\" data-internallinksmanager029f6b8e52c=\"4\" title=\"Technology\" target=\"_blank\" rel=\"noopener\">technology<\/a> with the internet. <\/p>\n<p>Saito and Kylin are two protocols in the Polkadot ecosystem that are focused on facilitating the evolution of Web3 through scalability and data management. <\/p>\n<p>Saito is a blockchain network designed to process Terabytes of data by paying rewards to nodes in the peer-to-peer (P2P) network, instead of using miners or staking, as its method of delivering a permissionless and scalable network. <\/p>\n<p>This functionality is needed to one day power decentralized versions of popular sites like Twitter, <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Facebook<\/a> and Amazon that currently hold a monopoly in Web2. <\/p>\n<p>As for data management in the Polkadot ecosystem, Kylin has led the charge by providing a decentralized data infrastructure solution known as DeData for Web3. The Kylin ecosystem consists of a data oracle, data analytics and a data marketplace. <\/p>\n<p>Kylin data analytics is a set of tools designed for data warehouses that extract meaningful data findings, patterns and interpretation, all while implementing low-cost commercialization functionalities for the public. <\/p>\n<p>The Kylin data oracle is an advanced decentralized data feeding protocol that is capable of processing any type of data on- and off-chain in a validated way. <\/p>\n<h2><span class=\"ez-toc-section\" id=\"Want_more_information_about_trading_and_investing_in_crypto_markets\"><\/span>Want more information about trading and investing in crypto markets?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<ul>\n<li>Scaling DApps in 2022, explained<\/li>\n<li>Astar (ASTR) price doubles as the network prepares to add 15 new projects in April<\/li>\n<li>3 possible reasons why Polkadot is playing second fiddle in the L1 race<\/li>\n<li>Polkadot envisions Web 3.0 disruption with multiple parachain launches<\/li>\n<li>Moonbeam (GLMR) launch brings EVM interoperability closer to the Polkadot network<\/li>\n<\/ul>\n<p class=\"post-content__disclaimer\">The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.\n<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/p>\n<\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/altcoin-roundup-interoperability-push-puts-attention-back-on-polkadot\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Altcoin Roundup: Interoperability push puts attention back on Polkadot &#8220; The Polkadot ecosystem sorely underperformed compared to other layer-1 networks in 2021, while the slow roll-out of parachain auctions and mainnet launches left the network playing catch-up in 2021. It appears that this trend came to an end in mid-March when numerous projects in&#8230;<\/p>\n","protected":false},"author":1,"featured_media":428743,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDQvMjY5MzgxOGUtYTM4Yi00NmYyLTk0ODEtMTE4OTFkZWU1ZjVmLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74867,74894,74863,74877,74868,75168,75434,73785],"class_list":["post-428742","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-altcoin","tag-blockchain","tag-cryptocurrencies","tag-decentralized-exchange","tag-defi","tag-polkadot","tag-smart-contracts","tag-markets"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/428742","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=428742"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/428742\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/428743"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=428742"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=428742"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=428742"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}