Kusama slot auction coming soon Polkadot Parachain .....

Polkadot Kusama tweeted that the V0.9.1 version upgrade has been approved by the council and is currently in the public voting stage. The voting will end on May 14. This upgrade includes parachains, auctions and crowd lending codes. the

In this round of bull market, DeFi is undoubtedly a hot spot to promote the development of the market. In addition, the Polkadot ecology is also the focus and hot spot of the market. Polkadot has a profound impact on the entire cryptocurrency ecology. Square opened the era of smart contracts, then Polkadot opened the era of cross-chain.

Before the emergence of Polkadot, different blockchain networks were isolated islands of information. They had different operating standards, fought independently, and did not interact with each other. This is like a stand-alone computer in the history of computer development. era.

However, just as the stand-alone era will eventually enter the Internet era, the blockchain world will eventually enter the cross-chain era, and Polkadot, as a star cross-chain project, has greatly promoted the development of cross-chain. the

How does Polkadot achieve cross-chain? What is the recent progress of Polkadot parachain slot auction? With these questions in mind, let's find out. the

Unique Network's pioneering network Quartz won the 14th parachain slot auction of Kusama: On November 16, Subscan data showed that Unique Network's pioneering network Quartz won the Kusama network's 14th parachain slot auction. [2021/11/16 6:54:05]

Polkadot Network Architecture

As we all know, Polkadot mainly adopts the "relay chain-parallel chain" network architecture. The relay chain is the core of the Polkadot network. It is equivalent to an operating system. On the relay chain, other blockchain networks can be connected. Yes, the blockchain connected to the Polkadot relay chain is called the Polkadot parallel chain. the

The Polkadot parachain can be a homogeneous parachain with the same underlying structure as Polkadot, or a heterogeneous blockchain with a different underlying structure, such as Bitcoin, Ethereum, EOS, TRON, etc. Polkadot relay chain, thus becoming Polkadot's heterogeneous parallel chain network.

Parallel chains connected to the Polkadot relay chain can not only share the consensus security of Polkadot, but also interact with each other through the relay chain (data interaction, asset interaction, etc.). The parachain needs to be connected to the Polkadot network through the parachain slot. If it is a heterogeneous parallel chain, it also needs to be connected through an adapter. the

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In Polkadot's network architecture, parachains occupy an important position. If there is no parachain, then Polkadot is equivalent to a fully functional but unused shell. When Polkadot relay chain is connected to more and more The more parachain projects there are, the more meaningful Polkadot is.

Due to performance constraints, the number of parallel chains connected to Polkadot is limited, that is, the number of parallel chain slots provided by Polkadot is limited. At present, Polkadot provides about 100 parallel chain slots, some of which are parallel Chain slots will be used for public welfare parachains, and the remaining parachain slots will be sold in the form of candle auctions. The blockchain that successfully bids for parachain slots can be connected to the Polkadot network to become a Polkadot parachain.

Polkadot parachain online steps

Phala announced its participation in the Kusama auction strategy: no new coins will be issued, and 1 KSM contribution can be exchanged for 100 PHA: On the evening of April 30, Phala Network’s pre-mainnet Khala Network announced its participation in the Kusama parachain slot auction and released its bidding strategy.

It is reported that Khala provides a 15 million PHA prize pool for this auction, and users will receive 100 PHA rewards for every 1 KSM pledged (that is, KSM: PHA=1: 100). Users can pledge KSM for Khala through the Khala Crowdloan Dapp and exchange cooperation channels.

In addition, as the native token of the Khala network, K-PHA can be exchanged 1:1 with ERC20-PHA and Phala’s future main network PHA, which is the Kusama version of PHA. [2021/4/30 21:15:09]

The prosperity of the Polkadot ecosystem is inseparable from the access of a large number of parachains. Generally speaking, the launch of the Polkadot parachain is mainly divided into the following seven steps.

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1. Launch Rococo v1 and wait for its stable operation; 2. Launch Kusama's system (public interest) parachain; 3. Open the auction on Kusama; 4. Launch the parachain that successfully bid on Kusama; 5. After the audit is completed Launch Polkadot's public interest parachain; 6. Open the auction on Polkadot; 7. Launch the parachain that successfully bid on Polkadot.

From the above 7 steps, it can be seen that the launch of the Polkadot parachain mainly involves three blockchain networks: the test network Rococo, the Polkadot pioneer network Kusama, and the Polkadot main network Polkadot. These three blockchain networks mainly include: What function will it help the Polkadot ecology?

Golden Relativity | StaFi Protocol Li Zipeng: Kusama’s parachain auction is essentially a pre-release for Polkadot: Golden Finance reported that in today’s Golden Theory of Relativity, the most important milestone before the mainnet launch of the “slot auction, What kind of linkage effect will this milestone bring?" and other questions, StaFi Protocol Li Zipeng said that Kusama's parachain auction is essentially a pre-release version for Polkadot. First of all, being able to bid for Polkadot card slots must be endorsed by the project and share Polkadot resources. There will be great advantages in terms of performance, but the cost is also obvious. We are designing the bidding plan, but it has not been finalized yet, because there are still many uncertainties in the card slot auction rules, the DOT amount of the Genesis Auction, the start time and other factors, so we will adjust the bidding according to the latest progress of the above factors Strategy. Anyone who is familiar with the Polkadot PLO auction rules knows that the price is determined by candle auction, and the price of the slot slot will be determined by candle auction rules. However, different from ordinary candle auctions, Polkadot’s parachain auction rules have been adjusted: that is, the Polkadot parachain auction has a certain time, but after the auction time ends normally, a random auction that appeared in the past auction process will be randomly selected. The block number is used as the random number at the end of the auction, and the bidder with the highest bid before this block will be the final winner. Therefore, there are still many game strategies in the middle, so we need to observe the actual situation of the auction of the parachain card slot on Kusam first, so as to adjust the auction of the Polkadot parachain card slot in a targeted manner. [2020/12/11 14:56:15]

Rococo is Polkadot's test network, just as Ethereum, EOS and other blockchain networks build test networks for testing, the main function of the Rococo network in the Polkadot ecosystem is also testing. the

Kusama is different from Rococo. It is called Polkadot's first network. It has its own consensus mechanism, token incentives, and a complete token economic system. It is an independent and complete blockchain network. As the name suggests, The main function of Kusama, the first Polkadot network, is to test the new functions of the Polkadot network, and of course it also includes the testing of related functions of the Polkadot parachain.

Unlike Polkadot, Kusama has faster governance parameters and lower barriers to entry. If Kusama is crazy and fast, then Polkadot is more conservative. It will give priority to stability and reliability, and it will be more efficient in the governance and upgrade process. Slower and more methodical, after all it is the Polkadot mainnet. Kusama is a good place for bold experiments and early deployments.

Polkadot is designed to stably execute risk-averse, high-value blockchain applications. the

First of all, the Polkadot parachain can be tested for related functions on Rococo. After waiting for a period of time to run stably on the Rococo network, the Kusama parachain will be launched. Of course, the parachain slot auction on kusama must be opened to bid for successful blocks. Link into Polkadot's leading network Kusama, thus becoming a parallel chain of the Kusama network.

The blockchain project is connected to kusama. After a period of stable operation, with the improvement of Polkadot’s related functions on the Polkadot main network, these kusama parallel chain networks can be connected to the Polkadot main network through the parallel chain slot. Of course It is also necessary to participate in the parachain slot auction.

Earlier we introduced the importance of parachains to Polkadot’s ecology, and the steps that Polkadot parachains need to go through to go online. Now let’s take a look at the latest progress of Polkadot parachains.

Latest progress of Polkadot parachain

The relevant progress of the parachain has always been the focus of attention of the Polkadot community, because the launch of the Polkadot parachain can truly activate the Polkadot ecology, thus giving full play to the core advantages of Polkadot cross-chain.

In general, the Polkadot parachain will go online after being tested by Rococo and kusama, and then it can be officially deployed to the Polkadot mainnet after it runs stably.

As early as January this year, Polkadot officially announced the registration process for the Rococo V1 slot of the parachain test network. The Plasm project immediately became the first parachain on Rococo V1. Running, the Rococo network is constantly improving. Parity also regularly updated and restarted Rococo. At the beginning, it also limited the speed and number of parachains online.

After continuous efforts, the parachains connected to the Rococo network can now run stably. When the parachain function on the Rococo network can run stably, Polkadot officials will consider deploying related functions of the parachain on the Kusama network. the

According to PolkaWorld, on May 2, Gavin officially deployed the parachain module to Westend and Kusama runtimes. This means that Parity has added the function of the parallel chain to the Kusama network, and the next Kusama upgrade will support the parallel chain.

This is the first step for the parachain to go online. Next, governance voting and other deployments of whiteboard chains and public welfare parachains will be carried out. After that, it will start to support the parachain registration of the project party, that is, the parachain slot auction. the

According to the current progress, the Kusama parachain slot auction is likely to start in May. When the Kusama parachain function can run stably for a period of time, the parachain function can be deployed to the Polkadot main network.

In short, parachains occupy an important position in the Polkadot ecology. Without parachains, there would be no Polkadot. Only when more and more excellent blockchain projects are connected to Polkadot to become its parachains can Polkadot play its true role. Advantages, the Polkadot ecology will prosper.

Whether the launch of the Polkadot parachain can give full play to its cross-chain advantages and thus open the cross-chain era still needs time to verify.

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