- Polkadot, via a post on X, announced the release of Agile Coretime, which will streamline resource allocation on Polkadot as part of the ongoing Polkadot 2.0 upgrade.
- Following the glad tidings, DOT has witnessed an 8% surge in the token’s price.
In an X post, Polkadot unveiled Agile Coretime, a significant component of the Polkadot 2.0 update. Polkadot’s native token, DOT, witnessed an 8% surge following the announcement, moving from around $4.00 to $4.34, representing an 8.15% increase. With every opportunity, Polkadot, best known for its innovative approach to blockchain interoperability, is cementing its position as a strong competitor to Ethereum, mostly known as the “digital silver.”
In a post on the X platform, Polkadot highlighted that Agile Coretime will streamline resource allocation for Polkadot. This means that Polkadot moved from the previous auction-based system that relied on two-year leases for block space. With the availing of this significant development, Agile Coretime simplifies the process by introducing “cores,” virtual units on the Polkadot Chain specifically designed to manage transactions and execute smart contracts for parachains.
It's LIVE ⚡️ Agile Coretime—one of the foundations of Polkadot 2.0—is here!
That means:
🔹 Increased Flexibility & Scalability
🔹 Lower Barrier to Entry for Builders
🔹 Predictable Costs— Polkadot (@Polkadot) September 19, 2024
Notably, Agile Coretime’s dual resource acquisition model offers flexibility for projects of all sizes. Smaller or newer projects can benefit from on-demand purchases, allowing them to acquire computational resources as needed and avoiding the long-term commitment of previous leasing systems.
On the other hand, bulk purchasing options are available for established projects with consistent requirements. These bulk transactions, represented as non-fungible tokens (NFTs), enable projects to secure block space for up to 28 days in advance, providing a reliable and predictable resource allocation.
Agile Coretime is a vital piece of the broader Polkadot 2.0 upgrade, which aims to transform the network into a powerhouse, making it a more adaptable and scalable platform. According to Polkadot’s founder, Gavin Wood, this upgrade will lower entry barriers, improve scalability, and enhance the network’s ability to meet the evolving demands of decentralized applications (dApps) and Web3 technologies.
Eskimor emphasized the significance of the latest upgrade, stating;
Agile Coretime is a huge milestone in making the high-quality blockspace Polkadot offers more accessible. With this and other features we have in the pipeline, I expect more experimentation and awesome projects to be launched on Polkadot, showcasing its amazing capabilities. Let’s wake our sleeping giant!
Following the announcement, At the time of press, DOT is swapping hands with $4.29, marking a 0.58% surge in the last 24 hours. Betting on its positive momentum, this price movement has also been accompanied by positive market indicators.
Polkadot Technical Analysis
The Moving Average Convergence Divergence (MACD) shows higher lows, suggesting DOT may be nearing a potential bottom. Additionally, the Chaikin Money Flow indicator points to increasing buying pressure, which could signal further price gains.
The Polkadot team has outlined three main benefits of Agile Coretime, which include increased flexibility and scalability, lower barriers to entry for builders, and more predictable costs. These improvements are expected to make the platform more attractive to developers and potentially drive increased adoption.
