polkadot According to a post on blockchain’s Twitter account, the network touched on the ‘enhancements’ it plans to implement shortly and shared details for possible updates.
The official statement on the Twitter account detailed other features that network participants can expect to be implemented in the coming days.
The network implements Asynchronous Backup to reduce block time from 12 seconds to six seconds and improve the accuracy of transactions. Parathreads, a parachain that works on a “pay-as-you-go” basis and makes it easy to create a blockchain and deploy a smart contract, was also among the proposals.
The group also recommended replacing the council and technical committees with Polkadot Fellowships and that all community decisions be subject to referendum.
Polkadot Metrics Look Positive
Koinfinans.com As we reported, Santiment’s development metric clearly revealed a very intense development period with a score of 86.14. The developers are clearly making an effort and it looks like more features will be released soon. These developments could be positive for the future of the network.
In addition to the metric being high, the line also reveals an uptrend, indicating that development activity is on the rise and will continue to rise.
DOT Price Failed to React
Native token of Polkadot network DOT however, did not react very positively to the published announcements. At the end of the trading day on October 6, the token dropped from its opening price of $6.44 to $6.34. This decline did not stop here, creating another 1.55% decrease to $ 6.25.
According to the trend lines, the altcoin failed to break the $6.85 resistance level. At first glance, $6.10 seemed to be holding a solid support level.
According to the chart, there has been little in the way of decisive up or down movement lately, and the move has been largely sideways.
Overall, the DOT market continues to exhibit a bearish momentum as measured by the Relative Strength Index (RSI) and Directional Movement Index (DMI).
In DMI the RSI line is below the neutral line; it can be seen that the signal, plus and minus DI lines are all below the 20 level. Despite this, the signs continue to show that the bearish trend is not very solid.
It is highly likely that there will be an increase in the Polkadot user base when these updates are released. Inevitably, this will have a positive impact on the price action of the DOT, resulting in long-term DOT holders gaining.
However, the mid-term outlook for DOT will be subject to any additional rally as it breaks current resistance.
You can follow the current price action here.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.