Polkadot announces Kusama is 'finally ready to host parachains'
The rollout of the Polkadot protocol has been ongoing since August, when the project launched its Rococo testnet. Kusama, sister chain to Polkadot’s platform, is ready for the rollout of parachains on the network.Polkadot and Kusama creator Gavin Wood today said in a blog post that Polkadot was entering the fourth and final phase of its mainnet launch, which involves deploying parachains to the Kusama network. According to Wood, the development arm behind Polkadot, Parity Technologies, had released an upgrade — Polkadot version 0.9 — for Kusama, which “is now finally ready to host....
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The first Kusama parachain auction could happen by mid-June if the council votes in favor of a recently released tentative schedule. Polkadot and Kusama creator Gavin Wood has published a tentative schedule for the much-anticipated Kusama parachain slot auctions. According to a blog post posted on Tuesday, the first parachain auction slot will open on June 15 at 12:00 pm Central European Summer Time.The tentative schedule, subject to the approval of the Kusama Council and other KSM stakeholders, will see the maiden parachain auction concluded by June 17, with the bidding period continuing....
As you might already know, parachains are different individual layer-1 blockchains, running in parallel within the Polkadot ecosystem, on the Kusama network – and soon to be Polkadot as well. While they leverage the central Relay Chain to stay connected and secured, they benefit from Polkadot’s other properties, such as its security, scalability, interoperability, and governance. The uses of parachains are multiple. Taking the advantage of Polkadot’s cross-chain composability feature, any sort of data or asset can be sent between parachains. While it makes Parachains eligible to....
Polkadot co-founder Gavin Wood has suggested in a recent interview that parachains are “technologically” ready to launch on his sharded blockchain protocol Polkadot, and it is now down to the platform’s governance process to set that in motion. Parachains are highly customizable layer-1 blockchains that run in parallel on Polkadot, connected to the shared security of the layer-0 central Relay Chain, and can include their own economies and native tokens. The long-awaited parachain rollout marks the final piece of the core functionality for the project to be delivered, realizing the....
There is now a clear path to finally using Polkadot, but issues with the testnet suggest there may be delays. The Polkadot project released a detailed roadmap on Monday for the highly anticipated rollout of parachains and slot auctions, which should mark the full launch of the protocol.The roadmap is divided into three main stages. The current phase is the Rococo testnet environment, where developers can test mechanisms to communicate between various Polkadot parachains, its analog of shards. The platform uses a mechanism called Cross-Chain Message Passing-lite, or XCMP-lite, to allow....
The launch of parachain shards on Polkadot will also mean the release of Tether on the network. Polkadot and Kusama users will benefit from a direct integration with Tether’s USDT when common good parachains launch. As announced by Tether on Tuesday, the stablecoin will launch both on Polkadot and Kusama, its cousin network.Tether is the oldest stablecoin to reach significant adoption and it has recently surpassed $40 billion in circulating supply. Though there have been concerns in the past as for its reserve status, the company recently committed and followed through with periodic....