3 Projects Can Launch Polkadot! - Kakiforex.com - Financial Market Media No. 1 in the World 3 Projects Can Launch Polkadot! 3 Projects Can Launch Polkadot!

March 19, 2021

3 Projects Can Launch Polkadot!

 The Polkadot network is increasingly seeing a higher number of transactions compared to Ethereum.


For the record, Polkadot does not support smart contracts as chain relays. Instead it gets that functionality from additional blockchains connected by chain relays, known as parachains and parathreads.


There are currently 100 parachains slots available and there are several potential projects to secure those slots.


One of the high potential projects is Acala Network. The main objective of the project is to want to focus on the value and capabilities of the polkadot ecosystem. Not only that, Acala is confident of appearing as Polkadot's decentralized financial hub (DeFi).



However, Acala’s native token will not be launched until the project successfully secures a parachain. However, DOT holders can make a loan for the DeFi project during the parachain auction and will receive an Acala token reward at the same value.


Phala Network is also seen as potential. Launched in late 2018, the network has already launched the ERC-20 version of the PHA token. It values ​​privacy maintaining a decentralized database with smart contract functionality.


Not to forget, Litentry (LIT) which is currently ready to be offered a parachain slot with its token is already traded in the market.


With three key protocols and products, Litentry can be considered to have a unique feature of being able to grab a stake in control or build a credit score that can be used for loans on low -collateral personally and trustless.


At the time of writing, LIT is trading at $ 10.91 with a market value at a record $ 199,757,634. This token is available on the Ethereum and Binance Smart Chain (BSC) networks.