OKLink Industry Observation: The Kusama Parallel Chain may be launched within a few days.The multi-chain era is coming?

In the last article, we talked about Gavin Wood, the soul behind the birth of Polkadot. In this issue, we will talk about the current situation and future of Polkadot. Before we start, let’s take a look at the latest situation about Polkadot in the market: On April 1, at the Polkadot & Friends Beijing session (NFT session), Polkadot founder Gavin Wood said that the Kusama parachain may be launched in a few days online. In the video, he also shared the latest progress of Polkadot, including: when will the parachain be deployed on Kusama and start the auction; his views on NFT, how Statemint supports NFT; how Polkadot helps mine high-quality projects through Crowdloan; Parachain Development focus after launch; hybrid security system, etc. Gavin said, "The team is conducting closed-door research and development in the beautiful Stockholm, and is currently making the final effort to improve the various codes required to start the parachain, not just the core code of the parachain itself... The Rococo test network is becoming more reliable. It is stronger, and the development is relatively satisfactory. It can be said that it has reached the level of launching Kusama. However, it will not be launched at present, because there is still an obvious bug in the availability distribution system that needs to be resolved. I hope it will be resolved in the near future. So I will stay in Stockholm for another week, trying to finish the remaining work required to go online. So let's see what happens in the next few days." OneCash and OKLink reached a strategic cooperation: According to official news, OneCash announced that it has reached an agreement with OKLink strategic cooperation. OneCash has issued a new synthetic stable currency - Round Dollar, which has been listed on the Poloniex exchange. OKLink, as the exclusive fiat currency custodian of the round dollar, will escort OneCash users' deposits and withdrawals. OneCash is a professional stablecoin issuance and operation factory, providing users with safe, compliant and efficient stablecoins. OKLink Trust (OKLink Trust) is a subsidiary of OKLink Holdings (01499.HK), a listed company in Hong Kong. It has relevant compliance operation qualifications and provides legal currency asset management services for Yuanbi. [2021/8/20 22:26:28] To be honest, Xiao Ou was shocked when he saw the news. After all, today is April Fool's Day. Could it be that Gavin Wood is joking with everyone again? But looking at Gavin's serious look in the video, and the fact that the video was sent from Polkadot's official platform... Maybe the Kusama parachain and its slot auction that everyone has been thinking about are really coming! The following is the text: As we all know, as a typical example of the development and transformation of blockchain technology, Polkadot uses technologies such as sharding and parallelization to try to deal with the congestion and high gas fees of Ethereum. The mechanism of sharding and parallelization can support multiple blockchains. Based on this, different blockchains can be linked to each other to achieve cross-chain interaction, thereby solving the problem of incompatibility between data in different blockchains and isolation of information. problem. OKLink officially launched the DASH blockchain browser: On July 13, 2020, Beijing time, OKLink officially launched the DASH blockchain browser. In addition to continuing the basic functions of other currency browsers, the browser is the first to promote DASH mining pool ranking data in the OKLink DASH browser, and more professional statistics will be added in succession. OKLink is a blockchain information service website built by a blockchain big data listed company, aiming to provide users with highly available blockchain information services using blockchain + big data technology. [2020/7/13] For example, this is like continuously building highways in the city of Ethereum, and then linking city coordinates one after another. And this is precisely the reason why the outside world has high hopes for Polkadot. The slow progress of the Polkadot parachain (currently still at the first step) has been criticized by the outside world. Recently, however, this situation seems to be improving. Let’s review the roadmap for the progress of the Polkadot event: 1. Launch the Rococo v1 test network and wait for its stable operation; 2. Launch the public welfare parachain of the Kusama Pioneer Network; 3. Open the slot auction on the Kusama Pioneer Network; 4. Go online Kusama Pioneer Parallel Chain; Jiang Zilong, Business Manager of OKLink: The Profit Rate of Bitcoin Mining Is Decreasing, but There Will Be No Mining Disaster: Jinse Finance Live Report, July 5th, Guided by the Government of Yuhang District, Hangzhou City, Hangzhou Future Science and Technology City Management Committee The 2020 Hangzhou Blockchain International Week hosted by Babbitt was held in Hangzhou. In a roundtable discussion titled "The Evolution of Mining Industry in the Post-Halving Era", Jiang Zilong, the business director of OKLink, pointed out: After March 12, I feel that there will be more exchanges among people in the industry, whether it is ordinary traders or mining circles. . We can compare it with the previous two production reductions. After the production reduction of Bitcoin, the price did not fluctuate significantly. After 3.12, after the price dropped sharply, the price was relatively stable. Reduced, but there will be no mining accidents, etc. Whether it is mining or the field of the currency circle, from the previous extensive to the current intensive cultivation. Generally speaking, everyone is optimistic about the future development, but it is not very consistent with the previous operation mode. [2020/7/5] 5. Complete the audit work and launch the public welfare parachain of the Polkadot main network; 6. Open the slot auction on the Polkadot main network; 7. Launch the parachain of the Polkadot main network. As we all know, Kusama is the first network of Polkadot, so Kusama will conduct auctions first. But at present, the parachain test in the entire Polkadot ecosystem has not been completed, which is the progress of the Rococo testnet. This in turn determines whether the successful experience of the Rococo test network will be adapted to Kusama, which in turn determines the slot auction on Polkadot. OKLink has reached an in-depth strategic cooperation with the digital asset trading platform Dcoin: It is reported that OKLink has reached an in-depth strategic cooperation with the blockchain digital asset trading platform Dcoin, and users can directly use OKLink when depositing and withdrawing coins in Dcoin Chain OKLink blockchain browser to query transfer progress. In the future, the two parties will carry out deeper market cooperation in ecological construction and promotion. Dcoin is a financial-grade digital asset and derivatives trading platform that holds the VQF digital asset trading license issued by FINMA, the Swiss Financial Supervisory Authority. OKLink blockchain browser is an information service application created by a blockchain big data listed company. It aims to present fast, accurate and comprehensive data on the chain, and provide users with professional and personalized data analysis services . [2020/4/14] In fact, Rococo has successfully restarted several times before, but the number of test accesses is small, and large-scale stress tests have not been carried out. In early March, Polkadot founder Gavin Wood also said, "We will increase the number of validators on Rococo to hundreds of levels to confirm that the network layer is running well. If it goes well, we will integrate the code into Kusama after that and deploy." Looks like Rococo test results are crucial! But fortunately, the recent development trend is good. On March 16, Shawn Tabrizi, the core developer of Parity, stated in the community that the Polkadot parachain crowdfunding module has released the code base. Immediately afterwards, he posted on social media: "In a few days, maybe tomorrow, the Polkadot parachain test network Rococo will be restarted, and the Polkadot parachain crowdfunding auction module will be launched." Announcement | OKLink announces the latest issue of USDK Audit report: On February 2, US Eastern Time, OKLink announced the USDK audit report for January, and the deadline for the report is January 31, 2020. According to the report, the reserve amount in OKLink's Prime Trust special account is 25,079,712 US dollars, which is consistent with the actual issuance of USDK. [2020/2/6] On March 26, public information showed that the Polkadot Rococo testnet's first parachain slot auction test ended, and Acala's testnet Mandala PC2 (id 666) won the first Rococo slot. Immediately afterwards, Plasm and Kilt won the second and third parachain slots on Rococo! On March 31, the Rococo testnet announced that it had ended the fourth round of card slot auctions. The Polkadot privacy project Phala Network, DID project Literntry, Darwinia, and Biforst collectively won the fourth slot. In addition, the Rococo test network is currently simulating Kusama’s previous parachain slot election, and a total of about 10 parachains participated in the election. It can be said that compared to before, the move of Rococo testnet is a big improvement. But does this mean that the whole process can proceed as planned? After all, this is only the first step in the initial stage. Speaking of Polkadot's slot auction, we must first start with Polkadot's structure. As a scalable heterogeneous multi-chain blockchain, Polkadot consists of "relay chain + parallel chain". In this architecture, the parachain is an important design to link other blockchain projects and expand the ecology, and the parachain slot is the interface between the parachain and the relay chain. To give a simple example: For example, if there is only one socket at home, but you want to charge your computer, your mobile phone, and watch TV, what should you do? Just buy a few more sockets and you'll be fine! Polkadot is equivalent to a socket, and plugging into a power strip is equivalent to adding a relay chain, and various electrical appliances connected to the power strip (that is, parallel chains of various architectures) operate independently. Then the problem comes. Due to the limitation of Polkadot network resources, there can only be a limited number of parachain slots, so the slot auction method is created. Gavin Wood, the founder of Polkadot, also previously stated that the upper limit of the number of parallel chains will be around 100. Resources are very limited, and joining the Polkadot ecosystem has many obvious benefits. On the one hand, cross-chain interoperability and resource sharing can be carried out; on the other hand, it can also increase its storage capacity and transaction volume. In addition, the consensus conducted by Polkadot is naturally self-evident in terms of security. Therefore, for the project party, if it wants to become a parachain, it needs to rent a limited slot through bidding. Only in this way can it access the parachain. This is the so-called slot auction. Regarding the slot auction, here is a brief supplement for everyone: 1. The slots are only rented and not sold. You can bid for four lease periods, each lease period is 6 months long; 2. Among about 100 slots , 80% of the slots are distributed to the market for auction, and 20% of the slots will be reserved for projects that the Web3 Foundation wants to support; 3. Parachain slots are auctioned using candle auctions (the highest bidder at the moment when the candle goes out successful bidders), by simulating the process of extinguishing candles on the chain; 4. Each auction only releases one slot, and the release of the next slot will have a certain time interval, about one every 2 weeks; 5. Each The project party needs to obtain the right to use by locking a certain amount of DOTs for a certain period of time. The locked DOTs cannot be sold. After the lease period ends, all DOTs participating in the auction will be refunded; completed. According to the official website of polkaproject, as of March 31, the number of Polkadot ecological applications has reached 391, covering underlying technologies, wallets, oracles, NFT, DAO, smart contracts, bridges, DeFi, Internet of Things, and games. There are 124 based on Substrate (projects with the same development framework as Polkadot). And of those 124 contenders, the first batch of slot auctions numbered within 10, so competition could be fierce. With the steady advancement of the Polkadot parachain and the prosperity of Kusama and Polkadot-related tokens in the secondary market, Polkadot's current market heat and attention is extremely high. Therefore, many people also compare Polkadot with Ethereum. As mentioned at the beginning of the article, the development of Polkadot has gathered the right time, place and people. Does this mean that Polkadot will have the strength to compete with Ethereum? A special researcher at the Okey Cloud Chain Research Institute said: "Maybe this statement is too optimistic. As far as the current situation is concerned, even if Ethereum is congested and the gas fee is too high to hinder its further development, its early accumulation is still there, and the Ethereum At this stage, Polkadot has also found its own moat --- DeFi. At present, a large number of star projects such as mortgages, loans, transactions and synthetic assets have appeared on Ethereum. However, the current ecological development of Polkadot is still in its infancy. There is still a long way to go from catching up to surpassing. In addition, even if the ecological development of Ethereum 2.0 is hindered, it is difficult to guarantee that it will not land in the next 3 to 5 years. At that time, whether the Polkadot ecology can develop and find a unique Innovative star projects are still unknown.” In addition, Polkadot related communities also heard voices: “With the further development of Polkadot, its advantages and disadvantages will be revealed to a greater extent, and the investment direction of DOT will also be It is becoming more and more clear, and at the same time, the rising popularity of Ethereum 2.0 will also have a certain impact on Polkadot, and the development of Polkadot still faces huge challenges." But no one has ever denied the value of Polkadot. As the Polkadot official said: "There is no single blockchain that can do everything. More precisely, the future is an era of multiple chains." Finally, regarding the future of Polkadot, Xiaoou does not predict too much, Just to tell you the current status of Polkadot. For Gavin Wood, Xiao Ou is full of respect in his heart, but for the future of Polkadot, wait for time to verify.

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