Altcoin began to skyrocket after the developers of the project announced the approval of the parachain mechanism by the Polkadot board
The price of the Polkadot token has renewed its all-time high above $ 50 after the developers of the project announced that the Polkadot council had approved the activation of the parachain mechanism. Now this issue has been brought up for public discussion. If adopted, the developers will open the possibility of registering parachains from November 4. Over the course of a day, the Polkadot token has risen in price by 13%. As of 10:25 am on Nov. 2, the altcoin is trading at $ 48.4 and its market cap is $ 50.9 billion, according to CoinGecko.
Polkadot is an internal token of the project of the same name, which aims to create the decentralized Internet of the future (Web 3.0). It is interoperable with other blockchains and allows the creation of smart contracts and new blockchains.