The Kusama network is about to start, and Polkadot enters a new chapter

Polkadot’s phase-launch is about to enter another chapter. As we approach the launch of parachain functionality and the auctions and crowdlending behind it, let's take a look at what's next.

Polkadot went live about 10 months ago and currently includes the first four phases, the last of which was at the end of July last year when the Polkadot network was fully decentralized and permissionless. Now, Phase 5, the final phase of Polkadot’s launch, begins.

Polkadot is a heterogeneous scalable multi-chain. In its short history, Polkadot has demonstrated a highly decentralized and inclusive staking system (anyone who owns 1 DOT can participate in Polkadot's staking system and receive rewards), seamlessly upgrade its core logic, and open specific, functional governance. However, so far, it's just a chain that exists by itself. This is about to change with the launch of the Parachain feature, and the ultimate vision of a heterogeneous sharding system is about to become a reality.

Amazon founder Jeff Bezos follows Dogecoin founder Billy Markus on social media: Jinse Finance reported that according to the latest news from social media Twitter, Jeff Bezos (Jeff Bezos), founder of Amazon and CEO of space technology company Blue Origin Bezos) followed Dogecoin founder Billy Markus (@BillyM2k, Shibetoshi Nakamoto). Billy Markus was an IBM engineer and founded Dogecoin (DOGE) in 2013. After Dogecoin was greatly supported by Tesla CEO Musk, Musk not only claimed to use the SpaceX rocket to send Dogecoin to the moon. , and frequently interacts with Billy Markus on social media. Golden Finance previously reported that Amazon CEO Andy Jassy said in an interview with CNBC in early April that Amazon may support the sale of NFT in the future, and is optimistic about the future of cryptocurrencies and NFT. [2022/5/7 2:56:28]

Last week, Parity Technologies (the core team that developed Polkadot's original implementation) released version 0.9 of Polkadot and took a big step forward. This version, now run by the vast majority of the Kusama network, includes the logic necessary to deploy parachains on the network. It also includes the final logic for running parachain slot auctions and logic for crowdlending, which can be used for crowdfunding auction bidding. Kusama has been upgraded to include logic in this version (v9010), so parachains are now finally ready!

Robonomics won the 20th Kusama parachain slot auction: On January 2, Robonomics, a Polkadot-based decentralized IoT infrastructure, won the 20th Kusama parachain slot auction. [2022/1/2 8:20:19]

Schedule

Polkadot 's parachain plan is expected to start after two things happen:

First, there should be a full external audit of all new logic.

Second, the Kusama canary network performs at least one successful auction involving crowdlending and implements at least one functional parachain to demonstrate that the new logic works.

The relevant audit work has already started and we expect to complete it in the near future. The road to launch for Kusama has already begun and is expected to be completed in three steps over the next few days.

First, the Shell parachain will be deployed on Kusama, which just passed governance approval today. The Shell parachain is an "empty" parachain that produces blocks but has no functionality other than being upgradable. It has no concept of user accounts, staking, governance or balances. It doesn't even have a timestamp module to understand "time". Instead, all it does is listen for messages that relay chain governance authorizes its upgrade. Upon receiving such a message, the Shell parachain will allow itself to upgrade to any new logic authorized by the Relay Chain. This is a temporary environment as the first public interest parachain with identity id 1,000 (the first system parachain has identity id 0). Deploying the Shell parachain on Kusama required a governance motion and a referendum, but it all passed today!

Kusama DeFi platform Karura network officially removed Sudo and started transfer: On July 20th, the Kusama DeFi platform Karura network officially removed Sudo and started KAR transfer after community voting, entering the decentralized and permissionless governance stage.

It is reported that the Karura network is undergoing a second round of proposal referendum. The proposal includes the addition of KAR and KSM’s unilateral and bilateral liquidity and the opening of Karura Swap. It is expected to be launched at block height #174,245 and #183,600 respectively, and KSM has already supported Kusama and KSM Cross-chain transfers between Karura. [2021/7/20 1:05:33]

(PolkaWorld participated in the voting for the first time)

Data: Kusama card slot auction crowdfunding has locked 679,000 KSM: According to OKLink data, as of 10:00 today, the Kusama parallel chain card slot auction crowdfunding has locked 679,084 KSM, and 20,121 KSM has been added in the past 24 hours. The top three currently locked-up are Karura with 456,800 KSM, Moonriver with 102,800 KSM, and Shiden with 79,900 KSM. [2021/6/18 23:46:37]

The second step is to perform an upgrade. In this case, governance will vote to upgrade the Shell parachain to a Statemine parachain. Statemine is an instance of Polkadot's Statemint parachain on the Kusama network. It is a public interest parachain that can issue fungible and non-fungible arbitrary assets. It is also a low-cost chain for holding and transferring relay chain native tokens (KSM/DOT).

News | Polkadot test network Kusama update failure, expected to be fixed tomorrow: Polkadot test network Kusama has stopped producing blocks, according to the team announcement in the test node group, the fault is expected to be fixed tomorrow. According to the reaction of the node operators in the Chinese community, the downtime was caused by the development team trying to directly apply the Polkadot runtime environment library under development to the Kusama network, which caused the failure. Gavin Wood said in the announcement of the development community that Kusama will usher in a new version called revival, and this version has passed local testing and will be released tomorrow, when the network failure will be fixed. [2020/1/6]

If the Shell parachain runs for 24 hours without any issues, and the same upgrade is successfully performed on the Westend testnet, we will propose an upgrade. As with the original deployment, upgrades require a full governance motion and referendum.

The third step is to start the auction. Once the parachain with transactions and consensus is running well with 900 validators on the Kusama network, the auction will start! We've tested it on the Rococo testnet! After seeing that Statemine is up and running, we will be confident that all 3rd party teams' chains will be up and running as well.

Currently, most KSM are locked in Kusama's staking system and cannot be transferred without 7 days notice. As such, the Kusama website will announce the start date of the first auction a week in advance, as well as the expected schedule of further auctions. Currently, the Kusama network expects 5 auctions to be held 7 days apart. If no major issues are found, further auctions may follow. Following the successful completion of Kusama’s first auction, we expect Polkadot’s auction to take place in the near future. After the final parameters of the auction are determined, it will be published together with the auction schedule.

future

Over the next two months, there will be work on reliability, refactoring, and performance. Currently, transaction volume is intentionally capped at a conservative cap to minimize the chance of any systemic issues due to the current non-optimized implementation. The network allows only 500 milliseconds instead of performing approximately 2,000 milliseconds of work in each block, reducing the effective transaction volume by more than 75%. As the code is rapidly updated and more robust, these artificial limits will be lifted and transaction volume will increase towards the theoretical limit.

After this development period, in addition to the originally envisioned features, there are three new features for Polkadot: Parathreads, Off-chain XCMP, and Spree. While work on all three will be going on concurrently, Parathreads will likely come out as the first version due to its complexity, and then Spree, due to its complexity, will come out last.

In short, Parathreads are pay-as-you-go parachains that do not require a parachain team to win a parachain slot auction (or be accepted as a public interest parachain), but instead parachain code can be directly distributed to every Block direct payment. If a parachain needs to write blocks infrequently (like an oracle chain) or only writes blocks during certain periods, then not having to win a 6-month slot to write their blocks is very attractive.

Off-chain XCMP  is an upgrade to the base XCMP released in the 0.9 series. While basic XCMP allows messages to pass messages between parachains by routing message data through a relay chain, off-chain XCMP achieves the same purpose when routing data directly between the collators of two parachains. This means that the relay chain is no longer a bottleneck for messaging and makes it highly scalable but still maintains the same level of security and decentralization.

Finally, Spree (also known as Secure Protected Runtime Execution Enclaves) is a feature that allows the same logic to be securely and evenly sharded across all parachains. This allows parachains that do not trust each other's business logic or governance mechanisms to interact. Using this feature, tokens can be moved between unfamiliar chains, NFTs can maintain their properties when they are migrated between chains, and even shared smart contracts can be realized using this function.

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