Polkadot's DOT Price Surges 8% as Network Unveils Major Update

Polkadot has released a major Product Devnet update that includes new mobile and desktop apps, stronger chat encryption, and changes to its registries. This move comes as Polkadot's DOT price rises by 8.02% in 24 hours to around $1.17.

The update introduces a fresh version of the Product Devnet, alongside new mobile and desktop apps. For users who want to keep managing their existing .dot domains, they must first write down their recovery phrase from the app settings, then clear their cloud backup, uninstall the old app, and reinstall the new version.

The update also changes the chat system, moving encryption from P-256 to X25519. This means that old encryption keys cannot be carried over, resulting in contacts and chat history starting fresh. Users will also create a new username because the cryptographic system behind personhood pseudonyms has changed.