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Polkadot Rallies as Team Says Parachains are Ready for Launch

Source: AdobeStock/Yury

Polkadot’s native token DOT stood out as one of the best performers in the crypto market today after the team behind the blockchain protocol announced that the highly anticipated parachains are now ready for launch.  

At 9:05 UTC, the eighth coin by market capitalization, DOT, was up by 19% over the past 24 hours to a price of USD 41.33. The gain made DOT the second-best performer among the top 100 cryptoassets by market capitalization (behind telecoin (TEL)’s 27% rise).

14-day price chart of DOT. Source: CoinGecko 

On Polkadot, parachains are described as specialized blockchains that connect to the Polkadot Relay Chain, thus constituting the final piece of the multichain architecture that Polkadot is known for. 

The Polkadot chain was developed as a so-called sharded protocol that enables different blockchain networks to operate together.

According to the announcement from the Web3 Foundation, the creators of Polkadot, the network is now “technically capable” of supporting its first parachains, while auctions and

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