Polkadot rallies as team declares parachains ready for launch


Source: AdobeStock / Yury

PeasThe native DOT token has established itself as one of the top performers in the crypto market today after the team behind the blockchain protocol announced that the highly anticipated parachains are now ready to launch.

At 9:05 am UTC, the eighth coin by market cap, DOT, rose 19% in the past 24 hours to reach a price of $ 41.33. The gain made DOT the second best player among the top 100 crypto assets by market cap (behind the 27% rise in telecoin (TEL)).

14 Day DOT Price Table. Source: CoinGecko

On Polkadot, parachains are described as specialized blockchains that connect to the Polkadot relay chain, thus constituting the latest piece of the multi-channel architecture for which Polkadot is known.

The Polkadot chain was developed as a so-called fragmented protocol that allows different blockchain networks to work together.

According to the announcement of Web3 Foundation, the creators of Polkadot, the network is now “technically capable” of supporting its first parachaines, while auctions and crowdloans are also ready for “a first production start” on the network.

“The last technical steps needed to be accomplished before launching parachains on Polkadot were the completion of the full Polkadot code audit, which is now complete, and the finalization of parachain disputes, which can now proceed.” , indicates the announcement.

The news that the parachains are ready to go was followed by a motion for the Polkadot Council – the governing body of the protocol – to open the first auction of parachain slots on the network.

According to the auction calendar, the first auction of Lot 1 will start on November 11 and auction details are now available for discussion on the Polkadot Polkassembly community forum.

“Congratulations on this all milestone – incredibly excited to see the MainNet Polkadot spread its wings with onboarding parachains,” a user commented on the forum, suggesting that auctions should be delayed to allow more time for preparations.

The same sentiment was also shared by another forum user, who interrogates That it is “a good thing for an environment which promotes stability to do it in an emergency”, adds: “We barely had time to grasp Kusama … Users will no longer find their way with the same projects. on both sides. It might be too much immediately.

Along with DOT, Kusama’s KSM token also rallied today, rising nearly 18% in the past 24 hours to a price of $ 370.86, and becoming the third best performer of the day after DOT .

Kusama was developed by Polkadot creator Gavin Wood as an experimentation and testing network for decentralized applications (dapps) that will eventually be released on Polkadot.

____

Learn more:
– Polkadot and Kusama mobilize for $ 100 million Parachain auction
– Top ICO of 2017, Polkadot, to start an important experience

– Token Polkadot faces decisive moment as he settles into club’s top 10
– Why is Polkadot Mainnet News important for blockchain adoption?

– Polkadot investors unimpressed with Tether News
– Polkadot: a bet against maximalism with Gavin Wood





Source Link

Please follow and like us: