Copy link
Increase text size
Decrease text size
Link copied

The Web3 Foundation Reveals Launch Process Of Polkadot Parachain

Tue, 23 Feb 2021, 03:49 am UTC

The Web3 Foundation announced the launch process of the Polkadot parachain. When it is believed that the testnet parachain is running smoothly and the code has been fully audited and benchmarked, it will initiate a vote for the activation of the parachain and the Slot auction on Kusama through on-chain governance. Then, the first public parachain will be deployed, and the Slot auction will start on Polkadot through on-chain governance.

The current goal is that there are approximately 100 Parachain Slots available on Polkadot, and the Parachain Slot lease will be guaranteed based on a two-week candle auction. Initially, an auction will be held approximately every two weeks. A single Parachain Slot can only be rented for a maximum of two years (once every 6 months). At the end of the lease, the Slot will be returned for auction. And if the team wants to keep the Slot, it needs to participate in the bidding again. With the operation of the parachain on Polkadot, the release of the network will be officially completed in accordance with its original vision and design. Future upgrades, including full-featured XCMP and parallel threads, can be enabled through network governance after the code is fully developed, tested, benchmarked, and audited. Parallel threads may be enabled several months after the parachain is online.

Coinness

<Copyright © TokenPost. All Rights Reserved. >

To leave a comment, please sign in.
More
  • Bitcoin (btc) $54,961.00 (-10.02%)
  • Ethereum (eth) $2,112.25 (-12.58%)
  • Binance Coin (bnb) $447.39 (-14.10%)
  • XRP (xrp) $1.24 (-22.90%)
  • Tether (usdt) $1.00 (+0.16%)
  • Bitcoin (btc) $54,961.00 (-10.02%)
Apr 18, 2021 (Sunday)
11:36
BTC Drops by 1.22% Within 5 Mins, Marking 54,000 USDT
08:50
BTC Drops by 1.02% Within 5 Mins, Marking 55,377.46 USDT
08:05
BTC Drops by 1.04% Within 5 Mins, Marking 55,899.53 USDT
03:34
BTC Drops by 6.05% Within 5 Mins, Marking 53,006.62 USDT
03:23
BTC Drops by 6.19% Within 5 Mins, Marking 54,498.5 USDT
03:20
BTC Drops by 1.75% Within 5 Mins, Marking 57,373.57 USDT
Apr 16, 2021 (Friday)
10:00
DOGE Tops List Of Crypto Net Inflow With $1.69 Bln In Past 18 Hours
06:04
BTC Drops by 1.02% Within 5 Mins, Marking 61,190.87 USDT
04:37
BTC Drops by 1.08% Within 5 Mins, Marking 61,928 USDT
03:33
Class ZZ Deployed Cross-Chain Contracts On ETH, HECO, And BSC
02:30
Crypto Market Sentiment On Apr 16: Market In "Extreme Greed"
02:00
DOGE Tops List Of Crypto Net Inflow With $884.07 Mln In Past 10 Hours
01:37
Class ZZ Mainnet To Undergo Maui Fork
01:36
Data Summary Of Boboo.com's Perpetual Contract: April 16
Apr 15, 2021 (Thursday)
10:00
DOGE Tops List Of Crypto Net Outflow With $345.17 Mln In Past 18 Hours
07:43
TriumphX Signs MOU For Content Supply With Inamu To Launch Webtoon NFT Platform
02:30
Crypto Market Sentiment On Apr 15: Market In "Extreme Greed"
02:00
BTC Tops List Of Crypto Net Outflow With $419.77 Mln In Past 10 Hours
01:33
Data Summary Of Boboo.com's Perpetual Contract: April 15
00:00
BTC Surges by 1.05% Within 5 Mins, Marking 63,285.55 USDT
Subscribe to the TokenPost newsletter!
Don't show me this again today.
Back to top
Copyright ⓒ TokenPost. All Rights Reserved.
PUBLISHsoft