Polkadot Upgrades with “Agile Coretime”: Transforming Resource Allocation and Unlocking a New Era of Efficiency and Scalability for the Ecosystem

Tecumseh, Canada / Ontario, September 19th, 2024

Agile Coretime Sets the Stage for Polkadot 2.0, Enhancing Network Scalability, Cost Efficiency, Speed, and Flexibility

The Polkadot community is excited to announce the launch of "Agile Coretime," a significant new feature within the Polkadot 2.0 upgrade. This enhancement marks a leap forward in the management and allocation of computational resources across the Polkadot ecosystem, paving the way for greater efficiency, scalability, and accessibility for projects of all sizes.

Agile Coretime transcends a mere technical update; it stands as the most pivotal product release for Polkadot this year as the network progresses through its on-chain governance evolution, preparing to engage a broader Web3 audience. This feature is a key driver for rejuvenating the entire ecosystem, simplifying the process for projects to build and scale, and inviting a fresh wave of innovative applications and use cases.

Positioned as the second crucial element in the journey towards Polkadot 2.0, following the earlier rollout of Asynchronous Backing and setting the stage for future Elastic Scaling, Agile Coretime reimagines blockchain resource allocation with a dynamic, on-demand blockspace model. This approach replaces the traditional auction system, where single cores were leased for two years, making it simpler and more economical for projects to secure the resources they require when they need them.

Eskimor, lead developer at Parity Technologies, which contributes significantly to Polkadot’s technical advancements, remarked, “Agile Coretime is a significant milestone in making the high-quality blockspace Polkadot has to offer more accessible. With this and other future features, I anticipate a surge in experimentation and remarkable projects being launched on Polkadot, highlighting its incredible capabilities. It’s time to activate our sleeping giant!”

A primary benefit of Agile Coretime is its ability to match resource availability with actual network demand. By dynamically assigning computational resources, Polkadot minimizes waste during periods of low activity, while also alleviating congestion during peak usage times. This level of adaptability is essential for projects that experience fluctuating needs, enabling them to scale efficiently without incurring substantial upfront expenditures.

CEO of Moonsong Labs, Derek Yoo, stated, “Developers have often faced a critical dilemma: either deploy a smart contract and vie for limited blockspace or launch a blockchain and incur costs for a large, dedicated blockspace allocation. Agile Coretime tackles this issue by presenting a flexible solution. New projects can leverage the power and customizability of a blockchain while only paying for the blockspace they require. For established projects with proven market fit, Agile Coretime facilitates scaling to accommodate higher demand without the necessity for sharding.”

For emerging developers and smaller initiatives, Agile Coretime reduces entry barriers by granting access to Polkadot’s powerful infrastructure without requiring significant DOT collateral. This creates a more inclusive environment, encouraging greater innovation and participation within the ecosystem.

Projects have the option to purchase coretime either on-demand or in bulk, allowing for tailored resource management based on their unique needs. On-demand purchases are well-suited for projects with variable demands, while bulk purchases provide stable and dependable resource allocation for teams with consistent requirements.

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About Polkadot

Polkadot is a robust and secure foundation for Web3, unifying some of the most transformative applications and blockchains in the world. It features an advanced modular architecture that allows developers to easily create and customize their own specialized blockchain projects, shared security that maintains high standards for secure block production across all interconnected chains and applications, and solid governance that promotes transparency and inclusivity in the development of the blockchain ecosystem. With Polkadot, participants can not only engage with the system but also play an active role in shaping its future.

For further information, please contact Marketing Communications Director Jen Wheatley.