Certain “layer 1” crypto platforms have been receiving plenty of attention lately. And price action, too (okay, not Cardano just yet). Polkadot, however, despite steady growth since July, has been somewhat overshadowed in recent months. That’s about to change.
There’s a lot to like about the rivals of OG smart-contract platform Ethereum (ETH). The likes of Solana (SOL), Avalanche (AVAX), Fantom (FTM), Cardano (ADA), Terra (LUNA), Elrond (EGLD), Cosmos (ATOM) and Algorand (ALGO), just to name a select bunch, are all building out growing ecosystems of innovative, decentralised projects and strong and passionate communities.
Polkadot (DOT) is also very much in that boat. In fact, it’s arguably second only to Ethereum for the breadth and quality of its network of developing projects and dApps (decentralised applications).
The current question is, with its highly anticipated parachain-slot auctions officially kicking off on November 11, are we about to see another “Polkadot season”? In other words, a period of project-pumping froth and FOMO, the likes of when Polkadot first hit the crypto scene in mid-late 2020?
#polkadot #dot $dot @Polkadot Polkadot season is just around the corner! And It’s bringing the bull! Fomo and price shock will occur! pic.twitter.com/sY4nmteqd8
— polkadot-Rick (@rickybo69909532) October 28, 2021
Well, after several months of comparatively low-key engagement since those initial heady days of DOT-ecosystem excitement, buzz is building around the project once again, and you can expect that to kick further into gear very shortly.
But before we take a closer look at the parachain auctions, what they actually are, and which of the contenders look the strongest, let’s broadly cover some general bases.
What is Polkadot?
Polkadot describes itself as a “heterogeneous multichain”. Catchy, huh?
Essentially, it’s one of crypto’s top “layer 1” projects, which, in a…
