Polkadot is expected to introduce asynchronous capabilities and the Snowbridge cross-chain bridge with Ethereum by 2024.

In development update, Polkadot The company has laid out its strategic roadmap for 2024 in their latest report, titled “ Polkadot in Numbers ” annual report for 2023. The blockchain platform The platform is looking to introduce new features, including Asynchronous Backing, a flexible Coretime configuration, and a baseline Relay.

Moreover, the first quarter of the next year will witness the launch of Snowbridge, which will create a bridge for cross-chain interactions between Polkadot and Ethereum. Ethereum .

Asynchronous Backing is designed to optimize the performance of Polkadot’s network. This cutting-edge upgrade is anticipated to significantly boost scalability and throughput, enabling validators to manage multiple parachain blocks at once.

A significant aspect of this upgrade is its capacity for dynamic workload distribution among validators, effectively eliminating the dependency on global consensus. This innovation is expected to lead to quicker block generation times. decentralize According to Polkadot, the enhancement has been thoroughly vetted on its test environment, Rococo, and is now ready for deployment on Kusama, which serves as its experimental network. Achieving a successful rollout on Kusama will be a critical step before it is made available on the main Polkadot network.

Following extensive trials on Polkadot’s Rococo testnet, the Asynchronous Backing upgrade is now slated for deployment on Kusama, Polkadot’s canary network. A successful launch on Kusama is expected to lay the groundwork for a subsequent rollout on the main Polkadot blockchain. This revolutionary upgrade aims to expand the validator numbers significantly, potentially accommodating around 1,000 validators by the end of 2024. Polkadot mainnet .

Introducing Snowbridge, a bridge intended to facilitate trustless communication between the Polkadot and Ethereum ecosystems.

Alongside the Asynchronous Backing, Polkadot will initiate the deployment of Snowbridge in the first quarter of 2024. This pioneering initiative aims to establish a seamless, trustless connection between the two leading blockchain platforms.

The Snowbridge team is methodically integrating their pallets and supporting code into Polkadot's SDK monorepo utilizing git subtree, which enhances synchronization efficiency. They plan to release their crates and incorporate the pallets into the BridgeHub runtimes after finishing the ongoing re-audit.

Upcoming Developments and Improvements

Polkadot highlighted that Snowbridge has reached significant achievements, including bolstering the security of the BEEFY light client against possible attacks and enhancing the Solidity API for seamless token transfers to Polkadot parachains. They are also focusing on establishing fixed exchange rates for Ether-to-DOT transactions, which will be managed by Polkadot governance to ensure decentralization and minimize transfer fees.

The project emphasizes maintaining message traceability across the bridge through the SetTopic instruction, while the protocol now supports data format versioning for easier live upgrades. Notably, the BEEFY light client has successfully completed a re-audit and is ready for production, with ongoing re-audits of the remaining codebase. ERC20 tokens As the completion of Snowbridge approaches, the team has indicated that the project's attention is shifting towards final integration tasks, initiating bug bounty programs, and exploring additional application-level features for future upgrades following the launch.

Polkadot's ambitious agenda for 2024 reflects its strategic aim to establish the platform as a leader in the fast-paced blockchain landscape, which carries significant implications for the wider cryptocurrency ecosystem.

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