Ethereum started the DeFi hype with its pioneer technology; however, it may be time for the queen of the market to step back. While Ethereum continues to maintain its footing in the market, problems with scalability and feasibility have led to the growing importance of other projects for decentralized finance. Moreover, the future of the blockchain industry is regarded to be based on interoperability. Blockchains’ potential is increased by many folds when they are able to operate in tandem and communicate with each other. This is why Polkastarter may become an important cog in the machinery of decentralized finance.
What is Polkastarter?
Polkastarter is essentially a decentralized exchange – a marketplace for assets but based on the blockchain. However, it is specifically designed to be a stepping stone for a truly interoperable decentralized finance. Polkastarter is a DEX focused on cross-chain token pools and as the name suggests it is built on top of Polkadot; hence, it benefits from the capabilities and functionalities of Polkadot.
Apart from being a conventional DEX, the platform also serves as a decentralized launchpad for new projects. New projects can utilize Polkastarter to crowd-fund themselves and boost their projects. It makes the exchange and raising of capital for new projects much easier in order to lower the barriers to entry and boost the market.
The project can also be regarded to be a unique combination of Polkadot and Ethereum. It provides liquidity similar to that of Ethereum’s while guaranteeing cheap and efficient transactions. It benefits from the scalability of Polkadot. Moreover, the cross-chain development of the platform ensures that it goes far beyond ERC-20 tokens and create an inclusive platform for all cryptocurrencies.
Future outlook
As interoperability is considered the future of the market, it is without a doubt that projects like Polkastarter are going to gain traction in the upcoming days. The project has been showing early signs of success with the rate of community growth. The team recently celebrated 500k followers on its Twitter community despite being a recent project. Moreover, a lot of developments are planned and many are going on. The project also announced the launch of its Gaming Guild, recently.
The innovation of Polkadot and Ethereum gives Polkastarter an edge when it comes to other projects. The strong fundamentals support a healthy growth trajectory. According to the estimates of Wallet Investor, the cryptocurrency is expected to be operating at a price level of $3.44 in a year’s time while the five-year projection places it at $6.14. Digital Coin Price suggests a price level of $9.56 by 2026.
