💥💥💥 #Polkadot funds $600k project to introduce #SmartContracts , boosting #Blockchain capabilities
The Polkadot Governance Community has allocated approximately $600,000 to the R0GUE team of Pop Network for the development of smart contracts integrating Polkadot's native DOT token.
Smart contracts are digital agreements stored on a blockchain that automatically execute when predefined conditions are met. While widely used on networks like Ethereum, they are not natively supported on Polkadot's Relay chain.
Polkadot's smart contract-enabled parachains typically operate with their own native tokens, which poses a challenge for seamless integration with DOT.
Pop Network utilizes ink!, Polkadot's smart contract language, to provide stable interfaces (APIs) to smart contracts, exclusively using the DOT token. These APIs empower developers to leverage Polkadot's capabilities for creating cross-chain applications with minimal blockchain complexity.
Peter White, founder of R0GUE, expressed:
- "Pop Network's solution seamlessly harnesses Polkadot's capabilities, utilizing the DOT token. Our developer-friendly interface empowers ink! smart contracts with quick access to Polkadot's power, requiring just a couple of lines of code."
The network is operational on the Paseo testnet and was recently showcased at the Sub0 blockchain event.
- This development aligns with Polkadot's ongoing technological advancements for its Polkadot 2.0 vision, which includes features like Asynchronous Backing, Elastic Scaling, and Agile Coretime.
- Jamie Coutt, chief crypto analyst at Real Vision, predicts that smart contract-enabled platforms driven by AI agent proliferation could reach a combined market value of $15 trillion to $25 trillion by 2030. He emphasizes that AI agents utilizing blockchain via smart contract wallets for value exchange could significantly impact growth projections, potentially comprising over 40% of total daily active users on-chain and boosting valuation increases for blockchain assets.
Source - cryptoslate.com
