BITCOIN

Gavin Wood says the parachutes are virtually ready for launch in Polkadot


Gavin Wood, co-founder of Polcdot, suggested in a recent interview that Parachains is “technically” ready to launch its sustainable blockchain protocol on Polcdot and that it now relies on platform governance processes to make it dynamic.

The parachains are highly customizable Level-1 blockchains running parallel to Polcadot, linked to the shared security of the Layer-0 central relay chain and can incorporate their own economy and domestic tokens.

Marking the final part of the key functionality for the much-awaited parachute rollout project, Polkadat and its sister network Kusama realize the multi-chain architecture of both.

Kusama Parachin success paves the way for Polkodot

As a live proving ground for the technology and effectiveness of the Canary Network and Polcadot, Kusama started the slot lease auction process to add Paracain to Kusama, clearing the way for Polcadot’s parachute after a governance vote in June.

The schedule for the first batch of five separate Kusama Parachin auctions was then scheduled between June and July, each auction lasting 7 days. All slot auction bids were thrown out by Crowdlowans for a full-time leasing period, meaning potential Parachin projects received support for their bids from decentralized communities of KSM token holders, encouraged through project tokens or other prizes. Promising, the K0% potential Kusama Parachin project, in response to an anonymous survey, said they also plan to launch in Polkdot.

Kusama’s first parachute auction was won by Aklar Defy Hub Karura, Munriver’s decentralized smart contract platform and Sheiden’s multi-chain D App Hub won second and third slots. Unbelievable counting platform Khala took fourth place, while Defy Striking Service Bifrost claimed the final place in the first round of the auction.

Following the success of this first round, the schedule of the second batch of slots 6-10 allowed the community to start from 1 September. 8, at the time of writing there are currently 9 auctions underway.

Days of the week

The inevitable address is “When the Polkdot Parachin?” Interviewer’s question, Wood says, “I’m sorry I can’t give you a date. I want to, but all I can tell you is that things are going well towards Kusama to try the parachute. Audit, I’m not sure if it’s still complete, but if it’s not complete, it will be completed in the next few days. Right? Days, not weeks. ”

Wood added, “We have to fix any problem that comes from the audit. As far as I know these are relatively small problems, nothing huge. And then after that, it really just depends on the Polkadot regime.

“Polcadot is a manageable meta protocol. It must get through our rule. I can’t flick the switch myself, but all I can do is, technically, the parachute is ready – and Polkadot’s rule is to get them out of there. “

Upon the impending completion of the audit, given the apparent stability of the initial Kusama parachin, which worked almost smoothly, dot stakeholders will be able to vote to enable parachin functionality in Polkadot and agree on an initial slot auction schedule.

The projects behind the successful Kusama Parachain, such as Akala and Moonbeam, are expected to be the main competitors for the initial Polkdot Parachain, which completes the launch phase of a network to provide an ope operable, scalable, secure and decentralized multi-chain. Ecosystem for Web 3.0.

Image source: Parity.io



Source link

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button