Overview of Polkadot Ecosystem Growth in Q3 2023

In the third quarter of 2023, the Polkadot ecosystem showed significant growth in multiple areas. Native staking, on-chain events, and the number of independent accounts all saw notable increases, while development activity remained active.

Main Highlights

• Five new parallel chain projects join the ecosystem, covering areas such as DAO, metaverse, Internet of Things, and sustainable energy.
• Important technical upgrades have made progress, including agile core timing and asynchronous support.
• Native USDC is about to enter the Polkadot ecosystem

Data Growth

• The total amount of staked DOT increased from 578 million to 663 million, accounting for 49% of the total supply.
• The nomination pool attracts 15,281 members, with over 7 million DOT staked.
• The number of on-chain events has exceeded 190 million, doubling compared to December 2022.
• The number of independent accounts has approached 4.3 million, an increase of 10% from the previous quarter and 16% from the beginning of the year.
• The number of GitHub submissions has exceeded 49,000 for two consecutive quarters.
• The volume of XCM message sending increased by 20% month-on-month.

Ecosystem Expansion

The newly added parallel chain projects include:

1. peaq: Decentralized Physical Infrastructure Network
2. Bit.Country: A metaverse platform created by users
3. InvArch: Multichain DAO Infrastructure Project
4. Energy Web: Utilizing Web3 technology to help enterprises reduce carbon emissions
5. Nodle: Low-power Bluetooth driven IoT connectivity network

Technical Progress

• Approve the development of a dedicated system chain for the purchase and trading of future block space.
• The Agile Core Time proposal has been approved and has entered the further development stage.
• Asynchronous support is expected to bring an eightfold scalability improvement to Polkadot.
• Long-term goal supports 1000+ parallel chains and over 1 million transactions per second

Other Important Developments

• Native USDC is about to enter the Polkadot ecosystem.
• Zodia Custody announces the provision of institutional custody and staking services on Polkadot.
• Banxa is actively advancing its integration with the Polkadot ecosystem.
• Snowbridge is expected to launch on Kusama by the end of the year.
• Zondax launches a new Polkadot Ledger application that supports all parallel chains.
• OpenZeppelin completes the first phase of work, simplifying ink! smart contract development
• The third session of the Polkadot Blockchain Academy has successfully concluded, adding a new Founder Course.

With these developments, Polkadot continues to consolidate its position as a leading Web3 ecosystem, preparing for future large-scale applications.