Investing.com – Polkadot's native token surged today following the official confirmation of its Agile Coretime framework, a key component in the blockchain's 2.0 upgrade. The competitor is moving towards its second version, with the new framework set to improve resource management across the network.
According to an official post shared via X Space, Agile Coretime introduces a novel approach to allocating resources on Polkadot. Unlike the previous auction-based system, which awarded block space via two-year leases, Agile Coretime simplifies the process by creating a “core,” a virtual unit on the Polkadot chain to manage transactions and execute smart contracts for parachains.
This system is overseen by the “Coretime Chain,” a specialized parachain that handles the purchasing, renewal, and distribution of these resources. The Polkadot Chain will continue to serve as the backbone of the network, managing security, consensus, and cross-chain communication.
Agile Coretime allows projects to obtain computational resources in two distinct ways: on-demand purchases for new or smaller projects with varying needs, and block purchases for more established projects that require stable block space. Block transactions are represented as non-fungible tokens (NFTs) and can secure block space up to 28 days in advance.
Polkadot 2.0, the term used to describe the network’s future trajectory, represents a series of changes designed to expand its capabilities. Founder Gavin Wood describes Polkadot 2.0 as an adaptable and scalable computing resource that will incorporate features to improve scalability, lower barriers to entry, and meet changing market needs.
Polkadot’s journey began with the publication of its whitepaper in 2016, and the network reached a major milestone in 2023 with the release of its final codebase. Beyond the technical aspects, the Polkadot 2.0 upgrade is already impacting the broader crypto ecosystem. High-profile projects such as Mythical Games and Frequency have chosen Polkadot as their platform.
The introduction of Agile Coretime gives developers more flexibility, allowing them to acquire block space in real-time based on their precise needs, which in turn improves the efficiency of resource management on the network.
