After validating an action-packed year, Polkadot is gearing up for an even more eventful 2021. We take an appearance at some of the jobs that are set to introduce on the blockchain platform this year, in addition to a few major updates to the networks that are set to see the light of day in the coming weeks.
With interoperability being one of the key foundation blocks Polkadot was constructed on, Frontier pops up as one of the most important additions to the blockchain. Established by Parity Technologies, Frontier is an Ethereum-Substrate compatibility program thats set to be released this year. Substrate is a modular, extensible blockchain network that makes it easier to construct customized blockchains and Polkadot parachains.
Acala is the first stablecoin to introduce natively on Polkadot. Acala desires to end up being much more than just another stablecoin on the market– its advancement group desires to construct a decentralized financing hub and a stablecoin platform that power cross-blockchain liquidity and different applications.
The Acala Dollar (aUSD) is still in its testnet phase, once launched on the mainnet will supply users with more functionality than other stablecoins. Particularly, users will have the ability to provide and obtain aUSD to handle outstanding loans and earn interest on their holdings, along with use the token to participate in governance.
Acala is set to launch both on Kusama and Polkadot this year, as well as make it possible for acquired and DEX trading of aUSD.
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Frontier Readme file. Source: Github
Gavin Wood, the creator and lead designer of Polkadot, said that the program was “practically totally done” in his end-of-the-year blog site post, adding that it will result in a major interoperability movement within the blockchain.
Frontier is Substrates own Ethereum compatibility layer that permits developers to run unmodified Ethereum dApps. The program will permit any Substrate chain to appear exactly as an Ethereum chain would, in addition to host any tooling supported by Ethereums Solidity programming language, which includes MetaMask, Truffle, and any other tool that utilizes the Web3 RPC.
Another Ethereum-compatible clever agreement parachain on Polkadot, Moonbeam is set to reach its complete performance in 2021. While a big part of Moonbeams performance counts on the implementation of Frontier, the blockchain likewise has a set of special features that target Ethereum designers.
Aside from being an EVM execution on Polkadot, Moonbeam is also a highly-specialized Layer 1.5 chain that mirrors Ethereums Web3 RPC, accounts, keys, subscriptions, logs, and so on. The objective of the platform is to extend the base feature set discovered on Ethereum with extra features and performances that include on-chain governance, staking, and cross-chain integrations.