Polkadot Recap: Record Active Addresses And A Historic Sponsorship

by

Over the past week, Polkadot experienced notable advancements. The number of its active addresses reached an all-time high of 600,000, while an enthusiastic community project spearheaded an innovative sports sponsorship deal.

In contrast, the price of DOT has dropped significantly in the last week, decreasing by more than 14% just in the last day.

Polkadot Considering Branding Proposal For Paris Olympics Sponsorship 

At the upcoming Paris Olympic Games, Polkadot’s governance body is actively discussing a plan to boost network visibility through a $160,000 sponsorship of a bike branding proposal. The Olympics, held every four years and featuring athletes from around the world, is the most-watched sporting event on the planet, with over 3 billion viewers for the last games. Anticipation is high for the Paris edition, promising even greater engagement. If endorsed, this endeavor will offer Polkadot an excellent promotional platform.

Oribiky, a Paris-based self-service electric bike rental company, put forth a plan to introduce 100 Polkadot-marked bikes in key areas of Seine-Saint-Denis. This initiative was their suggestion. Moreover, they intend to create mobile apps for Android and iOS users that will include STRIPE’s cryptocurrency payment system as an option.

“In this project, we plan to introduce a fleet of 100 electric-assist bikes with Polkadot branding in bustling locations. Additionally, we will create mobile apps for iOS and Android users, maintaining the Polkadot brand identity. Notably, these apps will include a cryptocurrency payment system based on STRIPE’s technology.”

Active Addresses Hit Record 600,000

By the close of March, over 600,000 active addresses were registered on Polkadot, marking a new record. Among these, around 41% could be traced back to Moonbeam’s cross-chain smart contract platform. Additionally, approximately 191,000 new addresses came into existence directly on Polkadot. The network experienced a significant surge in unique accounts with non-zero balances as well, exceeding 5.59 million by the end of March. This rise in active addresses and non-zero balance accounts suggests an increasing level of engagement within the Polkadot ecosystem, with numerous projects utilizing block space to optimize network functionality.

The Polkadot network’s activity is thriving, with numerous applications securing their own blockspace to avoid congestion and potential network spam. Polkadot balances adaptability with robustness, ensuring a positive experience for its users in the long run.

Despite the significant increase in action on Polkadot, the number of transactions on the network has stayed relatively low. In March, there were approximately 11.58 million transactions, which is only a small uptick from the total in February.

A Groundbreaking Sponsorship 

For the first time ever, the Polkadot community made history by employing an on-chip vote during which IndyCar racing star Conor Daly was chosen as their brand ambassador for the Indianapolis 500 race. This marks a groundbreaking moment as this is the initial occasion of a significant athlete’s sponsorship being decided through community voting, facilitated by blockchain technology. With an impressive 95.8% approval, the Polkadot community showcased their excitement to demonstrate the capabilities and real-life uses of blockchain technology. Additionally, this partnership offers an opportunity for Polkadot to promote its vision for a more liberated and accessible web.

It’s truly humbling that amongst the vast Polkadot community, which consists of thousands of individuals and not a centralized marketing team, I was chosen as their representative through collective votes. This recognition underscores the potential of a more liberated and inclusive internet where every voice matters in shaping its future.

Read More

2024-04-13 13:06