Ethereum develops regularly and continues to stay the course of the development which has made the blockchain more matured. And this means other blockchain also gets the burden on how the chain can be improved to keep up with the ethereum. Polkadot has decided to upgrade the network and in this 2.0 update a lot of changes are coming.
So why did Polkadot 2.0 is coming at this point? New blockchains are coming into the market. Solana and the Polygon are literally bringing new projects and the dApps for the consumers. Arbitrum and OP blockchains too are updating on regular basis, so it's like a burden on the Polkadot developers to upgrade the chain too.
Let's talk about new features that Polkadot 2.0 and it's new upgrade and features.
What is Polkadot 2.0? What new features are coming?
Polkadot 2.0 is an upgrade to the existing blockchain and it has made a lot of changes on the blockchain that would kind of make it competitive enough for the current trends. This update would make the chain faster in transaction, more secure and also scalable for the chain and bridges. This upgrade is aimed such way that it would be increasing the price of token and bring more value for projects.
There are number of features coming from the chain. For example, nominated proof of stake would be fully functional in the version upgrade. The chain would also bring out the bridges on the polkadot blockchain. This would make it easier for other chain to use polkadot for variety of the use cases and also this would speed up the swap and cross chain feature development.
You can read more about internal roadmap here.
What are Polkadot 2.0's good and bad points?
New update is intended to push the scalable update in such way that it would be doing much better for the scaling the dApps and the transctions. Another update is the security which would be something polkadot has to regularly look at as updates make it easier for chain to be trustable. AI is integrated into the docs and now chain is working to make the Polkadot more developer friendly.
As for some of the bad issues that would be coming out would be the maturity of the deployment. Like as the chain gets released in the market we have to watch out for the chain updates rolled out with the change would bring bugs too. Also the new update is getting more complex for the architecture and the developers so this would be another issue they have to watch out as well.
What to expect from the Polkadot 2.0?
Considering this update rolling out in a multiple phases like say short term you would see the backing servers bringing the optimised side of the chain. Another thing would be updates to the bridges and the parachains would be improved in this update too. In the next rolled update of this upgrade would also be making corechain update. And apart from that you can expect from the web3 dApp side of the parachain too.
However I feel that long term goal of the chain would be making enough features and the updates that would make the Polkadot 2.0 more suitable for the mainstream and more people would choose the chain for building their projects. Though the whole efforts should make the tokens price a bit more than what it is now. But for that to happen things have to grow on the ecosystem soon.
Polkadot 2.0 is slowly getting it's much needed 2nd update and this should make the chain more useful and update should add improvements on the security, safety and the performance improvement.