In the crypto market where major changes are expected due to Bitcoin Halving, another upgrade has emerged which is Polkadot (DOT).
Polkadot is a Blockchain Network designed to connect diverse chains into a simplified Blockchain called Parachains. Every chain uses the Parity Technologies Subtract Modular framework in the Polkadot. All Parachain concluded in a plug into a single base called a Relay chain. However, it doesn’t provide any functionality but a kind of security to the Network Parachains.
Polkadot has launched Runtime Upgrade on its mainnet, which has gone live on the platform. However, the upgrade has caused a sudden outage on the parachain of the blockchain. According to one of its parachains, Moonbeam Network, a runtime upgrade on Polkadot has caused block production on other parachains to stop.
Polkadot Runtime Upgrade could change how the chain works without any hard fork. Hard forks can be slow, or inefficient to operate and prone to mistakes because they require a lot of offline planning and agreement. Hard forks can be Political sometimes due to their logistics and nature of upgrades which usually demand the potential number of users in the blockchain. For this reason, Polkadot prefers to avoid Hard forks and has launched Runtime Upgrade.
Additionally, its parachains can update their software without hard forking by just using Wasm in Substrate. It’s interesting to tell you that Substrate is the framework that runs Polkadot, Kusama, and other connected chains. Polkadot hosts its software on its specialized blockchain. Runtime Upgrade allows Polkadot to make a major update by changing the store rules on its chain. This would remove the difficulty of requiring thousands of node operators simultaneously to handle all updates.
Besides this, Polkadot has also recently announced a JAM upgrade, which aims to replace the Relay Chain interoperability protocol. This upgrade is being made to make the Polkadot more modular and simpler in design, furthering its development.
However, apart from its impact on other parachains, the Polkadot Runtime Upgrade has not yet had any significant positive effect on the price of DOT, and the native coin of the Polkadot ecosystem. At the time of writing, DOT was trading at $7.51, down just 4.46% over the past 24 hours.
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