UTC-05:00,Tuesday , March 02nd 2021

The Web3 Foundation Reveals Launch Process Of Polkadot Parachain

22:48 Monday , February 22nd 2021
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.
Read More