In the L1 race, Polkadot is struggling to catch up. Since no bridge was released connecting DOT with Ethereum in 2021, DeFi lovers favored other tokens to DOT.
) underperformed, comparatively speaking, despite the high expectations many had for the sharded multi-chain protocol.Setting aside the specific capability that each protocol offers in terms of transactions per second and time to finality, here are several factors that may have played a role in DOT's laggard performance when compared to other L1 competitors.
Despite the fact that Polkadot was specifically designed to offer multi-chain support as a “layer-zero” meta protocol, there was no major release of a bridge that connected Polkadot with Ethereum in 2021 and this left the protocol unloved by crypto traders looking to engage with DeFi and NFTs. This was in part due to the fact that the parachain auctions for Polkadot didn’t begin until November 11 when Moonbeam , an Ethereum-compatible smart contract parachain, secured the first slot.
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