After the governance vote, Polkadot will launch parachain auctions

The first series will start on November 11th and continue until December 9th.
After unanimous approval by the members of the blockchain’s onchain governance council, Polkadot has created a schedule for parachain auctions to be launched on Nov. 11. This news is a landmark as it fulfills the last core technical element of the whitepaper, which was published five years ago. Parachains, which are unique layer-1 blockchain platforms, operate laterally alongside Polkadot’s main network and are also tethered with the Polkadot Relay Chain. You can see their purposeful function in a variety of areas, including decentralized finance and smart contracts. The Polkadot founders, Robert Habermeier and Gavin Wood, spoke at the Sub0 Conference. They confirmed that Polkadot has the technical capabilities to implement parachains. The proposal for this auction schedule has two unique features. Unlike Kusama’s immediate project onboarding, Polkadot auctions are held in transit for a month. This is in an effort to prioritize quality over quantity. The proposal mentions Kusama, a canary network, as having a positive effect on the development of the concept in both practical and abstract terms. Kusama, a sandbox platform designed for developers to experiment with blockchain applications before their official launch on the Polkadot blockchain, has recently implemented the success of 11 parachain slot auctions.In addition to commending the near-flawless process of the Kusama auctions, the official report also noted that 2.4 million KSM has been contributed by 49,000 uniquely active addresses during the auctions.Cointelegraph reached out to Peter Mauric, Head of Public Affairs at Parity Technologies, for an exclusive commentary on the inspiration behind the proposal as well as the potential impact the implementation may have on the Polkadot ecosystem:”Kusama was launched in order to give the teams building the core Polkadot protocol, parachains and their constituent communities an opportunity to battle-test their tech and teams. Although there was some chaos, we have confidence in their readiness for Polkadot prime time. “Related to Polkadot Web3 wallet Talisman closes $2.35M Seed Funding Round. He then discussed the positive effects that the implementation would have on the Polkadot ecosystem and said: “This is the moment everybody has been waiting since the Polkadot papers were introduced over five years back. Polkadot’s promise of parachains has been the core of what it aims to achieve: scalable and customizable infrastructure that is truly decentralized for the next generation layer-1 protocols.

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