Polkadot plans to introduce asynchronous support using Ethereum and the Snowbridge Cross-Chain Bridge in 2024.
Posted: December 22, 2023 11:51 AM Updated: December 22, 2023 11:52 AM
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Polkadot plans to implement new features such as Asynchronous Backing and deploy the Snowbridge cross-chain bridge using Ethereum in 2024.
In a development update, Polkadot said:Polka dots by numbers” Annual Report 2023. The blockchain platform plans to implement new features such as asynchronous backups, flexible core time, and minimal relays.
The platform also announced that Snowbridge, a cross-chain bridge connecting Polkadot and Ethereum, will be deployed in the first quarter of the coming year.
Asynchronous backups aim to streamline Polkadot’s network performance. This innovative upgrade will reportedly improve the scalability and throughput of the network by allowing validators to process multiple parachain blocks simultaneously.
A key feature of this improvement is the ability to decentralize block production and dynamically distribute workload across validators. This eliminates the need for validators to wait for global consensus, resulting in faster block times.
Polkadot said the upgrade has undergone rigorous testing on Polkadot’s testnet Rococo and is ready to be deployed on Kusama, its canary network. The successful implementation on Kusama is an important milestone ahead of the Polkadot mainnet launch.
After rigorous testing on Polkadot’s testnet, Rococo, the asynchronous backup upgrade is set to be deployed on Polkadot’s canary network, Kusama. The successful implementation of Kusama is expected to lay the foundation for subsequent releases of the Polkadot mainnet. This innovative upgrade is expected to triple the number of validators and scale to support approximately 1,000 validators by the end of 2024.
Snowbridge: A trustless bridge between Polkadot and Ethereum
Along with asynchronous support, Polkadot plans to launch Snowbridge in the first quarter of 2024. Snowbridge is a pioneering project that aims to create a trustless bridge between Polkadot and Ethereum, allowing interoperability between the two major blockchain networks.
The Snowbridge team is diligently merging palettes and supporting code into the Polkadot-SDK monorepo using the git subtree, streamlining the synchronization process. Plans are in place to publish boxes and add palettes to the BridgeHub runtime after ongoing re-audits are completed.
Technology Advancements and Improvements
Polkadot said Snowbridge has achieved notable milestones, including strengthening the resiliency of the BEEFY light client against potential attacks and improving the Solidity API for transferring ERC20 tokens to Polkadot parachains. We also focused on utilizing a fixed exchange rate for Ether-DOT conversion, governed by Polkadot governance, to maintain decentralization and reduce transmission costs.
The project prioritizes message traceability across bridges by leveraging the SetTopic command, and protocol-level data formats now support versioning for seamless live upgrades. The BEEFY light client has successfully passed the re-audit and is ready for production, with ongoing re-audits of the remaining codebase in progress.
With Snowbridge nearing completion, the company said the project’s focus is shifting to final integrations, a bug bounty program, and additional application-level features for post-release upgrades.
Polkadot’s ambitious plans for 2024 highlight its strategic goal of positioning Polkadot at the forefront of the rapidly evolving blockchain landscape and impacting the broader cryptocurrency ecosystem.
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Victor is the Managing Technology Editor/Writer at Metaverse Post and covers artificial intelligence, cryptography, data science, metaverse, and cybersecurity within the enterprise space. He boasts of five years of media and AI experience working at renowned media outlets such as VentureBeat, DatatechVibe, and Analytics India Magazine. Having worked as a media mentor at prestigious universities such as Oxford and USC, and holding a Master’s degree in Data Science and Analytics, Victor is committed to keeping up with new trends. He provides readers with the latest and most insightful stories from the world of technology and Web3.
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victor day
Victor is the Managing Technology Editor/Writer at Metaverse Post and covers artificial intelligence, cryptography, data science, metaverse, and cybersecurity within the enterprise space. He boasts of five years of media and AI experience working at renowned media outlets such as VentureBeat, DatatechVibe, and Analytics India Magazine. Having worked as a media mentor at prestigious universities such as Oxford and USC, and holding a Master’s degree in Data Science and Analytics, Victor is committed to keeping up with new trends. He provides readers with the latest and most insightful stories from the world of technology and Web3.