Cryptocurrency analyst and trader Lark Davis is unveiling what he believes will be the superstar of the crypto markets in the coming weeks.
In a new video, Davis tells his 388,000 YouTube subscribers that upcoming developments on the Polkadot (DOT) blockchain will result in a big awakening for DOT, its sandbox Kusama (KSM) and other tokens on the ecosystem.
According to Davis, a bullish catalyst for the smart contract platform will include the rollout of parachains – a form of a blockchain that is application-specific which can communicate with the parent chain and other parachains.
“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…
Polkadot, Kusama and Polkadot-based tokens I think are about to have a major revival.”
Kusama (KSM) is a public network where developers can experiment. It allows new blockchains to be tested and fine-tuned before being launched on Polkadot.
Davis highlights that, as the launch of Kusama’s first parachain auction approaches, use cases such as decentralized finance (DeFi) and non-fungible tokens (NFTs) will emerge and eventually thrive on Polkadot.
“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. 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…
This is where we start getting our decentralized finance stuff. This is where we start getting our NFTs, our gaming… all these other applications that are going to come through on the Polkadot network. So they are launching on Kusama first, then coming to Polkadot later when parachains go live on the big brother chain which is, of course, Polkadot.”
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