This ‘Superstar’ Crypto Is About To Explode, According To Top Crypto Strategist Lark Davis
In a recent video, the popular crypto KOL Lark Davis shares with his subscribers that the upcoming expansion of Polkadot will result in the price explosion of its native token DOT, Kusama (KSM), and other tokens on its ecosystem.
“As parachain auctions are going live, Polkadot may finally unleash its enormous potential”.
According to the trader, the first Kusama Parachain Slot schedule is slated to take place on June 15. This rollout of parachains will be the massive price catalyst for the smart contract platform.
“The big superstar of the coming crypto summer, the Polkadot ecosystem. We finally are at the stage with Polkadot where parachains are launching, are coming to Kusama very soon, which means that the Polkadot ecosystem is about to go live”.
Both Polkadot and Kusama are trying to create an interoperable network of 100 parachains plugged into a central Relay Chain. Kusama is an identical network to Polkadot except its role is to function as a test network and experiment with various technology features before they can be rolled out on Polkadot.
The crypto KOL points out that as the launching date approaches, this is a very significant moment for the entire Polkadot ecosystem because this means that a token economy can finally come to life on Polkadot, use cases such as decentralized finance (DeFi) and non-fungible tokens (NFTs) will emerge and eventually thrive on Polkadot.
“Because every parachain is essentially an application or even its own blockchain on top of either Kusama or Polkadot, they have their own features, and they bring all this unique innovation”.
While there will likely be hundreds of crypto projects that participate in Kusama parachain auctions, some of the notable teams include Acala, Darwinia, Equilibrium, HydraDX, Karura Network, Robonomics, and Moonbeam.
“Moonbeam is setting the state of the art of Ethereum compatibility on Polkadot as well as developing a robust smart contracting facility in the new network”.
Davis believes that Moonbeam is one of the most promising parachains forming in the Polkadot network.
The trader then explains the functionality of Moonbem: “It runs on Parity’s Substrate infrastructure and is designed to read smart contracts in Solidity, the programming language used in Ethereum. Its compatibility with Ethereum means that it could allow developers to move their projects across two chains. It also has a bridge to Bitcoin”.
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