Lin Jiawen: Three stages of Kusama parachain auction

Recently, Gavin Wood released on Github the three major stages of launching the Kusama parachain function and a series of items to be completed. Users who are interested in the launch time of the Kusama parachain auction can judge the launch time based on the three major stages of the Kusama parachain function.

Judging from the released content, the launch of the Kusama parachain function will be divided into three stages,

Phase 1: Deploy Shell chain;

Phase 2: Upgrade to Statemint;

Director of the Information Technology Department of the Securities Association of China: Blockchain can effectively solve the disadvantages of the traditional centralized model: Jinse Finance reported that Shi Yongxin, director of the Information Technology Department of the Securities Association of China, said that the value of the blockchain is being widely recognized and has become an information Internet An important cornerstone of the transition to the Internet of Value has been applied in many fields. Among them, the financial business has the characteristics of many participants, high requirements for the security and completeness of transaction records, and the need to build a strong trust mechanism between institutions. Effectively solve the drawbacks of the traditional centralized model. As an important component of the financial system, the securities industry has a wide range of business scenarios and has become a potential market for blockchain technology applications. (Sina) [2022/5/2 2:44:46]

Phase 3: Auction begins.

The effective computing power of Chia's entire network is 31.23EiB, and the mining output is 2,894,125: Jinse Finance reported that according to chiaexplorer data, on January 31, 2022, the current effective computing power of Chia's entire network is 31.23EiB, and the current total amount of XCH is 23,894,125. The mine produced 2,894,125 pieces. At present, 0.0003 XCH can be produced per TiB computing power per day, and it takes about 9 years and 322 days to mine 1 XCH with 1 TiB computing power. According to the market, the current quotation of XCH is 72.18 US dollars, an intraday decrease of 3.14%. [2022/1/31 9:24:13]

The following are the three major stages of the Kusama parachain function and a series of to-do lists released by Gavin:

Crypto.com will provide $25 million in sports sponsorship for women's Australian Football: On January 17, the Australian Football League (AFL) announced a partnership with Crypto.com and signed a five-year sponsorship agreement. Under the agreement, Crypto.com will provide major financial support to the Australian Women's Football Team (AFLW) and sponsor $25 million to develop its sports business. Australian women are said to be more likely to invest in cryptocurrencies than overseas women, and the higher-than-average investment rate is the main motivation behind Crypto.com’s sponsorship of AFLW. (zero hanger) [2022/1/17 8:53:40]

Related progress:

• XCM: https://github.com/paritytech/polkadot/issues/2841

• Networking: https://github.com/paritytech/polkadot/issues/2888

• okens: https://github.com/paritytech/substrate/issues/8453

Phase 1: Deploying the Shell chain

1. Complete Shell/Cumulus

• Completion of the Shell chain runtime

• Shell and all XCM components used in Kusama are unit tested

• Finalize the origin of Shell (no tokens)

• Integrate the Shell as a runtime into Cumulus

2. Complete Kusama Relay

• Integrate Parachain Logic

• Integrate XCM logic

3. Deploy and test on Rococo

• Send tokens from the relay

• Standard test parachains upgraded to relay authority

4. Deploy on Kusama

Phase 2: Upgrade to Statemint

1. Complete the Statemint parachain

• Token Module

• XCM Logic

• Genesis (no token)

2. Integrated as a runtime option in Cumulus

• Transfer ROC tokens from Relay

• Send ROC tokens to and from the doppelganger

• Transfer other tokens from doppelganger as reserves

4. Upgrade from Shell

Phase 3: Opening the Auction

• Determine final parameters

• Confirm the auction schedule

• Release Schedule

• Integrate logic in Kusama Relay

• Deploy logic in Kusama Relay

• Activate Auction

Original link:

Github: https://github.com/paritytech/polkadot/issues/2902

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