Polkadot dApp Hub Plasm Network to Support Multi Currencies

Polkadot dApp Hub Plasm Network to Support Multi Currencies

By Novasky | CryptoEd | 7 Feb 2021


Polkadot has opening up a lot of new possibilities in the dApp market that not only supports smart contracts but it's parachain brings in other blockchains in it's own ecosystem too. Plasm is one such platform that allows smart contracts on polkadot's relaychain. 

Today Plasm went for the upgrade. And now they are supporting various multi currencies in it's pallet. This will also support layer 2 like rollups for  vertically scaled apps support on it's platform. 

 

 

As you can see from the update, those multi currencies are built on the top of the Polkadot chain. For investors who are invested into polkadot as part of their portfolio, investing into plasm networks efforts can be useful. 

Plasm has it's own tokens designed for it's polkadot parachain. It allows you to lock your DOT and earn PLM tokens. You can use lockdrop for locking the DOT and earn PLM. If you are a developer, plasm also rewards the developers for developing the dApps on their blockchain. 

Few days back, Plasm went into the partnership with the Moonstake wallet to allow staking in the polkadot ecosystem. So that is another good progress from the Plasm.

Plasm is doing a lot of progress in short term on the top of the Polkadot parachain. In Q2 2021, hopefully plasm does more progress so that it can attract more ETH projects that works on the Polkadot parachain. 

 

 

 

 

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Novasky
Novasky

Crypto Blogger and Open Source Developer.


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