Polkadot to debut parachain auctions after governance vote
The first series of auctions will begin on Nov 11 and run until Dec. 9 Polkadot (DOT) has laid out a schedule to debut parachain auctions on Nov. 11 following unanimous approval from the blockchain’s on-chain governance council members. The news marks a landmark achievement as it fulfills the final core technical element of the whitepaper published five years ago. Parachains are uniquely distinctive layer-1 blockchain platforms that operate laterally alongside the main Polkadot network, in addition to being tethered to the Polkadot Relay Chain. Their purposeful function can be witnessed....
Related News
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....
DOT price targets new highs and investors expect the ongoing Polkadot parachain auctions to send the price on a trajectory that mirrors Kusama’s 2020 breakout. This week, a number of contenders are set to participate in Polkadot's first parachain auctions and this process tends to place buy pressure on DOT, while also giving aspiring blockchain projects a chance to show why they offer the most competitive solutions to the different demands that exist in the crypto sector.The ongoing Polkadot parachain auctions follow the success of similar auctions on its sister network Kusama, where....
Polkadot price pushes to new highs over growing excitement for the upcoming parachain auctions and increased interoperability they will support. In the early hours of Feb. 20 Polkadot (DOT) trading volume began to see a significant increase which helped propel the multichain protocol to a new all-time high of $42.28. Data from Cointelegraph Markets and TradingView shows that DOT hit a swing low at $29.36 on Feb.19 before experiencing a 44% breakout which took the price to a new 2021 high. DOT/USDT 4-hour chart. Source: TradingViewExcitement continues to build in the Polkadot ecosystem....
The parachain slot auctions are the next big milestone due on the Polkadot roadmap. So, what can we expect? Polkadot’s parachain auctions will mark the most significant milestone on its roadmap since the mainnet launch in 2020. Currently in the testnet on the Rococo network, the next stage of the launch will involve the rollout of parachains on Polkadot’s crazy cousin, the “canary network” Kusama. The rollout of Polkadot parachains on the main network will follow. What does this mean? The Polkadot mainnet has officially been in live operation for nearly a year now. However, only the....
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....