In the early hours of Feb. 20 Polkadot (DOT) trading volume began to see a significant increase which helped propel the multichain protocol to a new all-time high of $42.28.
DOT/USDT 4-hour chart. Source: TradingView
Excitement continues to build in the Polkadot ecosystem ahead of the upcoming parachain auctions which will allow the Polkadot network to connect with other established networks like Bitcoin and Ethereum.
The mechanism by which data is transferred between different blockchains is called “cross-chain message passing-lite,” and is currently being finalized during the Rococo phase of the project’s roadmap.
Once the code has been fully audited it will then be time for Polkadot governance to vote on enabling parachain functionality via a runtime upgrade, followed by a vote to begin slot auctions to add