Acala Network announces the Sinai upgrade

Acala Network has introduced the Sinai upgrade. The objective is to chase the vision of building a liquidity layer in the world of Web3 finance, or DeFi. Simultaneously, Acala Network aims to remain at the forefront of technology by introducing a range of infrastructural enhancements to the network.

It brings a total of four upgrades, namely Open Gov Upgrade, Sentinel, Asynchronous Backing, and Polkadot’s JAM initiative.

The idea behind introducing Open Gov Upgrade is fairly simple: to enhance the participation of community members by enabling them to put forward their views. This would be considered a wide range of segments, like DEX listings, registration of new assets, and incentives, among others. Active participation from the community will further lay a strong foundation for the Acala Network. Thereby, paving the way for major developments and innovation.

Open Gov Upgrade builds on the principles of transparency and decentralization. Sentinel focuses on strengthening security around cross-chain transactions. It is in line with developments in DeFi, particularly the integration of multiple chains to facilitate cross-chain transfers. Sentinel would largely operate within the confinements of the Polkadot ecosystem. It will include measures such as rate-limiting, which is powered by on-chain governance. In the ORML, Acala Network defines Sentinel as an open-source tool.

Asynchronous Backing focuses on enhancing performance and security by upgrading the throughput of the network. It aims to reduce the time it takes for a transaction to be completed plus, facilitating the architecture of scalable blockchain operations. Asynchronous Backing also brings higher efficiency.

Finally, the JAM initiative by Polkadot aligns with Acala 2.0’s mission, wherein there is said to be an increase in the contribution to the research & development sector. The goal is to improve the overall blockchain infrastructure so that it can house a more interconnected ecosystem. Polkadot’s JAM initiative addresses two key aspects: chain fragmentation and liquidity.

The development comes days after Acala Network announced cross-chain DOT staking on the Euphrates. It expands the ways in which the community can stake their holdings. They have expanded beyond Acala to include Hydradx, Polkadot, and Moonbeam. The model is expected to roll out more features and pools in the future.

Interested users can begin by connecting their wallets and selecting the pool that suits their preferences. Next, they must choose the network. That will redirect them to Stake your DOT section, where they have to enter the DOT amount. Click Stake and sign; see the platform; do the rest in a matter of minutes.

The Sinai Upgrade places Acala Network in a position to remain at the forefront of technology. The network’s goal is to establish a liquidity layer in DeFi-Web3 finance. The community has responded positively to the development, igniting a sense of excitement and optimism for the future of Acala Network.

Roxanne Williams

Roxanne Williams has recently joined as a market reporter for CryptoNewsZ - the 24/7 crypto news site, where she produces recent stories, technical analysis and price updates on world's leading cryptocurrencies.

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