Polkadot To Introduce $770 Million Fund As Parachain Auction Approaches
Blockchain technology remains the major drive in the decentralization of digital assets. This has led to the emergence of several blockchain networks, each having its unique and distinguishing features. Amongst these blockchains is Polkadot, usually referred to as the blockchain of blockchains due to its multichain nature. Recently, Gavin Wood, the founder of Polkadot, revealed […]
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Kusama and Polkadot are jointly two of the most successful Blockchain partnerships, judging by the effort both teams have put to drive a massive adoption for the Blockchain. Following the success of the first Parachain auction, Polkadot will commence the next phase of the Parachain auction on Kusama. The auction, which is open to all […]
Astar Network currently ranks third place in Polkadot’s first parachain auction behind Acala and Moonbeam. The first-ever parachain auction on Polkadot is heating up, with leading projects from the Polkadot ecosystem competing for the coveted first slot.On Nov. 15, DFG Group — a global blockchain investment firm controlling $1 billion in assets under management — announced it had pledged 300,000 DOT tokens (worth $12.65 million) in support of Astar Network’s parachain bid.Polkadot will use parachain auctions to realize its sharded proof-of-stake ecosystem. In order to secure a parachain or....
Polkadot is likely to offload many of its core features to special-purpose public parachains. As Polkadot (DOT) gets ready to launch parachain auctions, a combined fundraising and market interest discovery mechanism, the team is realizing that some core features may be ill-suited for the auction mechanism.Polkadot parachains are somewhat analogous to the sharding proposal for Ethereum 2.0. Each parachain is a largely independent blockchain built for a particular purpose. Many projects building on Polkadot, like Moonbeam, Equilibrium or Acala, are developing their own parachains where the....
The upcoming Polkadot DeFi hub raised nearly $1.3 billion from approximately 25,000 contributors in its token ICO. On Thursday morning, Acala, a decentralized finance (DeFi) protocol operating on the Polkadot (DOT) network, announced it had won the first-ever Polkadot parachain auction. Acala raised a total of 32.5 million DOT, worth roughly $1.28 billion, from 24,934 contributors via an initial coin offering (ICO) structured as a crowdloan. As the proceeds are classified as 'crypto debt,' Acala would eventually need to pay back the DOT it had solicited from investors. Users' DOT are....
After months of hype around the launch, the first Kusama parachain auction went off without a hitch. The now active parachain has already begun successfully processing transactions, paving the way for future slot auctions. Kusama’s First Functional Parachain Goes Live The anticipation surrounding Polkadot parachains over the last few months has at last been realized following the first successful parachain auction on the Kusama canary network. This development marks the first time that a 100% decentralized, heterogeneously-sharded blockchain has been launched. The parachain, awarded....