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Polkadot Ventures into Real World Assets with Polkadot 2.0

Polkadot is making significant strides in integrating Real World Assets into its ecosystem, aiming to bridge the digital and physical worlds. The introduction of the JAM Whitepaper, or Polkadot 2.0, marks a new era for the platform, enhancing its capabilities and broadening its appeal.

Polkadot’s SDK:  A Foundation for Growth 

Polkadot’s Software Development Kit has been a cornerstone of its ecosystem, enabling developers to create robust blockchain projects without extensive resources. This ease of use has fostered continuous development, laying the groundwork for Polkadot’s advancements in RWA.

Polkadot RWA: A Path to Mass Adoption 

RWA or Real World Asset represents a substantial market, potentially reaching $10 million by 2023. By tokenising assets like real estate, precious metals, and intellectual property. Polkadot offers a compliant, secure, and scalable solution for blockchain developers, paving the way for widespread blockchain adoption.

Polkadot Financial Snapshot

Polkadot’s blockchain has a Total Value Locked of $71,406.30, reflecting its growing ecosystem despite recent fluctuations. The 30-day change in TVL is -3.9%, the 7-day change is -7.7%, but it has seen a slight 24-hour increase of +0.5%.

The market capitalisation of Polkadot’s cryptocurrency (DOT) stands at $8,848,341,856. Its 24-hour trading volume is $190,038,396, with a current price of $6.45. Despite a 24-hour change of +0.3%, DOT has experienced a 7-day decline of -9.6% and a 30-day change of -4.2%. 

Key Projects in the Polkadot Ecosystem 

Energy Web 

Energy Web Focuses on tokenising green and renewable energy assets. As a global non-profit, it leverages Web3 technologies to enhance the energy grid and promote transparency in green product supply chains, including sustainable aviation fuel and renewable electricity.

Xcavate 

Xcavate simplifies real estate investment by utilising Polkadot’s SDK to automate token transfers and minimise risks. It provides global access to early-stage real estate investments, lowering entry barriers and democratising investment opportunities. 

Phyken Network 

Phyken Network aims to bring renewable energy assets on-chain, making them accessible to a broader audience. Through decentralised identities and verifiable credentials, Phyken ensures the authenticity and ownership of these assets, driving investment in green RWAs.

Polkadot’s integration of RWAs and the release of Polkadot 2.0 underscore its commitment to innovation and mass adoption. Despite current undervaluation and recent market fluctuations, the ecosystem’s continuous development and strategic projects position Polkadot as a leader in the blockchain and crypto industry.   

Also Read: Ripple CEO Questions Dogecoin’s Purpose at Consensus 2024

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