This is why I'm BULLISH on Polkadot 2024!

All right, folks, I have to tell you guys something. I cannot be more excited for Polkadot this year. So if you guys know, Polkadot is one of my featured coins, right? This is something that I've been accumulating over time. And as we're approaching March, we see crypto moving up quite a bit. Polkadot has been doing just okay. All right. Past, actually, actually a little bit better than just okay. All right. Past 50 days, it's up like 51%. But I do see a very, very high potential for a skyrocket event for Polkadot. That's because historically Polkadot, you know, if you look at here, it was at $53. Now we're just at 10. And what's interesting about Polkadot is I see it being very similar to what was happening with Solana. Very, very heavy development, right? Huge amounts of new ways of thinking, but very few people know about it. There are some very radical Polkadot lovers out there. Okay. Now don't get me wrong. That's, that was what's happening with Solana too. But the majority of people, it's, they haven't used too much of it and they haven't used too much of this ecosystem. And that is why I see there's a very prime position for Polkadot to explode beyond this point, which is also why I'm accumulating more Polkadot. So in this video, I'm going to talk about some of the recent advances, some of the techie stuff. I think that's one of the reasons why, you know, I want to do more on this channel. And that's because we can cover and break down tech easy. And that way you guys know everything before everyone else. So we're going to be covering what's happening with a little bit about memes, the jam update. Well, what's going to happen with jam. We're going to cover a little bit about what's happening with something called beefy. And of course, Polkadot 2.0. Okay. Everything, the whole umbrella term. But anyways, guys, I'm really, really excited to present to you this video. As with always, everything covered in this video is my personal opinion, not financial advice. Let's get started. Starting off with number one, most like important part about what's going to happen with the Polkadot ecosystem is dot is dead. Okay. This is a meme coin that is going to launch on Polkadot. It's going to launch on quite a few parachains. So if you're not just on chain, but if you're, let's say, for example, you're on Kala or you're on Bifrost or Polkadix or Stellaswap, you can get qualified for this drop. Now, this drop is getting people a lot, very, very excited because you have to pull your Polkadot out of exchanges. And people are asking, you know, what time should they pull? When should they pull? Well, dot is dead. The official Twitter will announce early ahead of time when you need to move your Polkadot out of exchanges and on chain and keep it there. And hence why a lot of people asking if they are eligible personally for me, because I was a little bit formal into everything here. I did pull around 70% of my funds out of exchanges already in anticipation of four dot is dead. I feel like this is the coin that every Polkadot holder will unite around. If you get what I mean, you can actually see multiple transfers and me for more and more to get funds out of exchanges and on chain just for dot is dead. All right. See what you please. But I definitely want to get, be part of this. And also, of course, be part of our ecosystem. And other than that, it's super easy. Just put it on chain and you qualify. Just make sure it's not on an exchange. Overall, I feel like memes always bring people together. And something that's quite interesting about memes is that memes become a very big test for the robustness of a network. Everyone wants to trade memes, right? The meme trade volume is enormous because there's just so many different people trading and memes are what kind of slow Solana down or broke Solana. Well, this is what's going to test for Polkadot to scale and become very cheap and for it to become very useful. A meme culture is needed. And which is why, well, dot is dead. It seems to be the one that's uniting everyone together to trade memes. Next up is a huge update. It's called Jam Chain or just Jam. So this was announced very recently. It was just announced like two days ago prior to this video and during their Sub-Zero event in Bangkok. So Gavin Woods came on stage and announced that this Jam Chain is going to replace what's going to happening with its current Relay Chain network. And it's just going to be a few updates as well. It's very technical. So I actually reviewed it and I've reviewed like what's going on. TLDR, one of the key take homes is that Polkadot 2.0, which is the upcoming update, instead of it being, you know, a bunch of small updates, it'll be coming all at once in a very large scale, one time rollout. It will also feature the Jam Chain, which will be introduced as this replacement for the Relay Chain that's happening right now. It's got a bunch of more features. In fact, it provides multi-core computing for hundreds of chains. It's a way to massively scale Polkadot. And it's super exciting that the tech for this is mind blowing. One of the key reasons why Jam is so exciting is because it allows for dependent cross-chain swaps. Currently, there's multiple chains, all right, on Polkadot. That's how Polkadot works. Instead of having one big chain, it scales by having multiple chains. Great. But the chains need to talk to each other. And before, communication can kind of lag. But now with Jam, work functions or work items can depend on each other. So say, for example, one chain wants to send something over, then the action on the other chain can wait for this to happen. And this allows for fundamentally flash loans or even bigger DeFi operations to be completed cross-chain. And this is never done before. This is actually quite exciting because it's really the next step into how chains can cross-communicate. Right now, it's still very clunky, but with Jam in place, it drastically improves how communication works across all these chains. So very, very exciting stuff. What's also very interesting is that Polkadot 2.0, it will be compatible or backwards compatible with the old Polkadot, which is the current one right now. So I feel like this is like this jump and upgrade would substantially increase the capability of Polkadot from like here to all the way here. And this is not to say Polkadot 2.0 already contains two very big upgrades, which is dynamic core allocation and asynchronous backing. Yes, it's a mouthful to read. But in essence, what these two kind of features allow is allows Polkadot to scale to that mythical 1 million transactions per second. Asynchronous backing is actually super important because it allows all the parachains to be kind of decoupled from each other, which allows for essentially the time component to be modified. So some chains can be faster and some chains can be slower according to what they need. So say, for example, a gaming blockchain, they can have very fast blockchains per second, because yeah, again, like it's gaming, right? You want things to be done fast. Whilst larger financial applications that want preferred security, they might offer a slower chain. So these two upgrades in conjunction with what's happening with Jam will drastically improve the tech behind Polkadot, which is what's going to leverage and push Polkadot forward. At the end of the day, you know, if it's a fast chain, people will use it. And that's exactly what we saw with Solana. That's what we're going to see with Polkadot. The next point I want to mention, it's kind of like almost like cheating, but it's not a particular feature that I'm excited for, but rather the whole ecosystem as a whole. So prior to the last few months, I was using the Polkadot.js plugin, and I didn't like that. Okay. .js plugin. That was on Chrome, and it's .js wallet. It just wasn't too cool. But SubWallet right now, way better. Okay. The experience on that just plain amazing. And on top of that, SubWallet is already getting its own Telegram link. It's getting more features baked in. I see development moving very, very rapidly for the entire ecosystem as a whole. And I think that biggest analogy I would say to this is the Cosmos ecosystem, because at the start, Cosmos was really hard to use. It was like, if you're a long-term investor, fine. You can look at it and you can look at all the preview tech and it's okay. But at the end of the day, if it's an average user, transferring coins across chain was really hard until, well, Kepler changed the game. And I see this happening on Polkadot too. Better wallets are coming up. Better ecosystems are coming out. Better trading tools are coming out. Once this all amalgamates together, boom, people realize, okay, crap. This stuff is super usable. It's super fast. It's like the cross chain. It's just amazing. This is where it explodes. So I've been following the Polkadot Twitter for a while and there's actually quite a lot of tech being introduced, like just solid tech being added to their ecosystem. Like every, almost every single week, I just see something new. So that's what I'm excited for. I'm excited for the actual usage and the use case. And we're almost getting there. I would say it's like, well, I would say it's 60% of the way there, but the rate at which Polkadot is moving in terms of just the user adoption space, I think we'll reach 80 within the next 80% really good in the next two years. Next up, we have Bfee. This is a little bit harder to explain. I spent a bit pondering about how to explain this and how it works, but this is really back-end stuff. So what Bfee on a higher level allows the chain to do is it allows communication, not only to Polkadot or Kusama, but to Ethereum, right? Bridging assets from Ethereum over to Polkadot. And this is already live on Kusama. So it's just from a tech perspective, it's just an easy way to allow for different bridges to happen. So you've probably heard of the Polkadot Kusama bridge, the Snowbridge, Hyperbridge. This is all enabled and powered by Bfee. Now Bfee already works in its functional Kusama, which is like the test net for Polkadot. So then it can just really rapidly move on into the main Polkadot network, right? Once that test is finished. But what makes it really, really exciting is because it can allow the capture of value from Ethereum. That's super big because you know that Ethereum is a center, the hot pot right now of all that DeFi projects, but being able for DeFi projects to move over from Ethereum to Polkadot wasn't super easy before. But now with the Bfee bridge, it's such a weird name. So honestly, guys, what Bfee stands for, I got the full name for it. It's not just a cow. It's bridge efficiency enabling finality yielder. These names, but at the core of the technology is it basically simplifies how transactions are posted and it really simplifies the process of bridging. So it's much cheaper, much faster and enables that big highway to connect it to Ethereum. So with all the tech, who will use it? There's DeFi and the next one, big gaming. So in terms of partnerships with Polkadot, there's a very big partnership between mythical games and Polkadot. This occurred around a year ago. That's kind of the talks and now it's coming to fruition where there's a major token swap that's going to go on between Polkadot and mythical games. As a result of this token swap, both communities will align, but more importantly, mythical game is going to bring a lot of games over to Polkadot. This will essentially use a blockchain to its maximum and then bring a lot of new users over into Polkadot ecosystem. Right now, I feel like yet again, I'm being critical, but the wallet, the ecosystem is still a little bit hard to use. So with a game with high standards of usability coming in, deploying on Polkadot, this will just send Polkadot usability up and send the users, more importantly, up as well on the entire chain. So yeah, yet again, it's not just about building tech, but about bringing people into Polkadot. There definitely is a lot going to go on Polkadot. And for me personally, TLDR, if you didn't watch the video, I pulled my DOT out of exchanges into my sub wallet in anticipation of the Polkadot is dead airdrop. Okay, simple as that. If you want to follow, that's what I'm doing. I pulled a lot out and I'm expecting this to have enormous growth because of how much development they have. So it's not just pulling out of exchanges to get the airdrop, but I'm expecting more airdrops in the future coming to the DOT ecosystem. I'm expecting DOT is dead to lead the way for memes, but not just for memes, but for DeFi and for gaming, just going to be huge. I'm also looking for those, these huge technical upgrades. I feel like they're upgrades and they're tech that no one else talks about. Like when, when, when you really research Polkadot in detail, which is something that I've been doing over the past few months, you realize that the devs here are solid AF. It's like, like they're talking about things that people haven't even thought about in other chains before. And that's, that's how forward thinking Polkadot is. And I definitely want to be part of that, right? This is why I'm making more content for the DOT ecosystem. I see this is like, this is the thing that can come up and sweep the world by surprise. I feel like this is the same surprise that Solana did, I think, or maybe Cosmos did to a lot of people. Yet again, new ecosystem, new airdrops, new coins. What's there not to like? Something that's also really exciting and I'm really happy to be in Hong Kong for this, but Polkadot is doing a lot of developer training and events in Hong Kong. Well, it's not directly Polkadot, but one, um, they're incubating developers directly here. Ron actually went into one of the events as cyber port. So I'll let you take a look and you can see what's happening with the developments there. Would you say that the Polkadot ecosystem, do they view Cosmos and other layer zero ecosystem as a competitor or they work together to maybe overall scale Ethereum? Well, that's a great question. I mean, so what drove me personally first into Polkadot? Yeah. It's this whole idea of cross chain interoperability, right? Yes. Sort of rather than building singular silos and then like sort of having liquidity and users stuck there. Polkadot is all about providing interoperability. I mean, in fact, you can think of it as a layer zero, right? Where you have the relay chain and then you have all the different para chains that are building L1s. But compared to L2s on Ethereum, they're actually much more interoperability with each other through XEM, Cross Consensus Messaging Protocol. And that allows funds and data to move like between those different chains without any bridge risk. Yeah. Right. That's really the important thing. Yes. Why did you choose Polkadot? Why Polkadot? Well, because Polkadot is secure. Secure. I think it's the best answer. It was the last summer when I knew about Polkadot. Yeah. And I started developing there first with Moonbeam and other EVM chain because it was easy for me because I'm also a developer. Yeah. Solidity developer for me is the best one. You have this open gop, you have all the security of the substrate that you can update your runtime and everything. And with this Polkadot 2.0 vision, these apps not changed, so you can use the core time in any way. So, yeah, that's our environment. We chose Polkadot because we thought it was, and it is super robust. We like the decentralized governance also system, the interoperability with other projects building on parachains. So, we're going to keep updated on Polkadot. There's actually quite a lot of more other things to discuss like D-Pin. They're actually going into kind of the next frontiers of blockchain investing. And we'll talk about that in a future video. So, if you guys want to keep up to date with Polkadot updates or what's happening on this ecosystem, make sure you subscribe to the Box My Inn channel. But with that, thank you guys so much for watching this video. See you in the next one.