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Polkadot to debut parachain auctions


The developers of Polkadot have announced their readiness to deploy parachains on the platform. This will be the final phase of a multi-stage process of launching the main network, which lasts from May 26, 2020.

Parachains are a variety of specialized blockchains that connect to the Polkadot “relay” chain and make up the “multi-chain” aspect of the platform architecture.

Thus, speaking at the Sub0 conference, the Parity Technologies engineering team behind the development of Polkadot, as well as the co-founders of the project Gavin Wood and Robert Habermeier reported that Polkadot has the technical capabilities to establish parachains, auctions, and crowd loans. Moreover, the code is ready for deployment; and also has been audited, they said.

The code is ready for deployment

The developers recalled that the parachains have been successfully working in the Kusama network since July 2021. In total, 11 auctions for slots have been held there and 12 “parallelized” blockchains are functioning.

Habermeier stressed that the code’s readiness and maturity are not equivalent. Therefore, Parity recommended limiting the number of parachains uploaded to Polkadot to 75% of their number in Kusama until the final refinement of the technical base.

Polkadot Council proposed to hold the network’s first parachain slot auctions on November 11th, 2021. To participate in them, applicants will need unrelated DOT tokens, the developers reminded.

Polkadot coin reacted with an increase

The price of the native Polkadot coin reacted with an increase. At the time of writing, the asset has risen in price by more than 17% per day, according to CoinGecko. At the peak, the rate rose above $43.

The current price is $41.13. It is 16.65% less than the historical maximum reached in May 2021.

Recall that Gavin Wood announced the start of the final phase of Kusama network launch in May 2021. According to him, the move was in line with Polkadot’s vision of complete decentralization and no access rights. The blockchain provides a wide range of integrations into an inclusive system that allows users to place bets, smoothly update and create an open functional management system for users and participants.

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