See More

Polkadot Prioritizes Developer Experience Amid 300 Staff Layoff Rumors

2 mins
Updated by Kyle Baird
Join our Trading Community on Telegram

In Brief

  • Parity Technologies plans to decentralize Polkadot's growth, allowing the community to drive the protocol's evolution.
  • Expressing gratitude to Parity teams, the company acknowledges their role in expanding Polkadot’s market presence.
  • Focusing on developer experience, Parity aims to bolster Polkadot's next-gen technology and foster a robust community.
  • promo

Parity Technologies has announced plans for Polkadot’s future that involve community-driven growth amid rumors of staff layoffs.

“We are passionate advocates for decentralization, yet as we’ve expanded our mandate, we’ve had to navigate the risk of becoming a bottleneck for Polkadot’s growth,” Parity Technologies stated.

Polkadot Staff Allegedly Cut Amidst Ongoing Evolutionary Shifts

In a thread of posts on X (formerly Twitter), Parity Technologies announced it would be going through an evolution, thanking the staff at Parity for their work on Polkadot so far:

“As we go through this evolution, we want to extend special appreciation to those teams at Parity who have driven Polkadot’s outreach and expanded its market presence.”

At the time of publication, the price of Polkadot (DOT) stands at $3.67.

DOT Price Chart 1 Month. Source: BeInCrypto
Polkadot (DOT) Price Chart 1 Month. Source: BeInCrypto

It further notes that it will put its focus on enhancing developer experience:

“Parity will be zeroing in on delivering Polkadot’s next-gen technology, improving the developer experience, and fostering a strong developer community.”

This comes amid active crypto community user Chainyoda reported to his 17,500 followers that Polkadot had a string of layoffs.

As per Chainyoda, the company terminated the employment of 300 individuals.

Polkadot Records High Developer Activity in Recent Data

He additionally claims that the crypto industry’s “pain is getting worse by the day.” He made a comparison to highlight the significant number of employees being laid off simultaneously:

“That’s a lot more employees than there are devs building apps on Polkadot.”

However, recent research uncovered that Polkadot boasted the highest level of crypto developer activity. On July 6, the blockchain analytics platform Santiment registered a 30-day developer activity metric of 546 for Polkadot.

This follows BeInCrypto’s October 11 report, which highlighted that despite launching a funding program worth around USD $22 million and 5 million DOT through 2024, DOT’s price reached a yearly low.

The funding will specifically support projects dedicated to strengthening Polkadot’s future.

Recently, the world’s largest crypto exchange has been undergoing staff layoffs due to its regulatory challenges.

Amid legal action initiated by the United States Securities and Exchange Commission (SEC), Binance reportedly terminated the employment of 100 of its staff members.

Top crypto projects in the US | July 2024
Harambe AI Harambe AI Explore
Uphold Uphold Explore
Exodus Exodus Explore
Coinbase Coinbase Explore
Chain GPT Chain GPT Explore
Top crypto projects in the US | July 2024
Harambe AI Harambe AI Explore
Uphold Uphold Explore
Exodus Exodus Explore
Coinbase Coinbase Explore
Chain GPT Chain GPT Explore
Top crypto projects in the US | July 2024



In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.

Ciaran Lyons
Ciaran is a cryptocurrency journalist based in Sydney, Australia. He particularly enjoys writing about CBDC developments and the practical implementations of cryptocurrency in real-world scenarios. He has also appeared across major television networks in Australia including Channel Ten, Channel Nine and SBS TV. Prior to his foray into cryptocurrency, Ciaran worked as a presenter on national radio station Triple J.