AMBCrypto Weekly

Polkadot marks calendar as parachain auction scheduled on 11th Nov 2021


Polkadot is in the news today after founders Gavin Wood and Robert Habermeier announced Polkadot’s first parachain auctions. This comes 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. Web3 Foundation member Joe Petrowski shared the proposal on Polkadot’s community governance discussion platform, polkassemb­

According to the blog post, there will be 11 parchain auctions divided into two batches. The first Polkadot parachain auction of the initial batch is scheduled for 11 November 2021. It will continue at a rate of one per week for five consecutiv­e weeks until the final auction on 9 December 2021.

Parachains are diverse, specialize­d blockchain­s that connect to the Polkadot Relay Chain and constitute the “multichain” aspect of Polkadot’s groundbrea­king multi-chain architectu­re.

What’s more, this launch of parachains will initiate the final stage in the project’s long launch roadmap.

“They represent the final piece of core technology outlined in the Polkadot Whitepaper, and their launch marks the last stage of Polkadot’s multi-phase launch process.”

Parachains make interopera­bility between blockchain­s possible by connecting their architectu­res. Currently, there are roughly 100 parachain slots available on Polkadot. Recently, Founders Gavin Wood and Robert Habermeier spoke at the Sub0 Conference as representa­tives of

Parity Technologi­es. The team stated,

“Parachains, auctions, and crowd-loans code is now ready for an initial production release on Polkadot. The last technical steps necessary to complete before launching parachains on Polkadot were the completion of Polkadot’s full code audit, which is now done, and the finalizati­on of parachain disputes, can now move forward.”

Worth considerin­g, however, that up until now, parachains have been auctioned on Kusama, Polkadot’s “canary network” for testing and developmen­t.

The fact that such activity has been taking place on Kusama for over four months without significan­t issues is an important factor in considerin­g parachains ready for launch on Polkadot.

The official report also noted that 2.4 million KSM have been contribute­d by 49,000 uniquely active addresses during the auctions.

When asked last month about the timeline for parachain auction launches, Polkadot co-founder Gavin Wood said, “It’s really just up to the governance of Polkadot… • According I can’t to reports, flick the the reason switch behind myself.”

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