Auctions for the next phase of Kusama’s Parachains will begin on October 23
The decision was made based on a motion submitted by a council member of the Polkadot’s canary network
According to Kusama’s statement via Twitter this monday (October 18), the next phase of auctions on Kusama’s Parachains will happen on October 23.
The decision was made based on the community’s response, through a motion submitted by a council member of the Polkadot’s canary network.
Responding to a post in the Polkassembly called “The Case for Continuous Auctions”, the member’s proposal aims to schedule one auction per week for the next seven leases.
Kusama’s tweet resumed it, explaining that it means one auction per week for the next 48 weeks.
Kusama also explained via Twitter that “unlike previous auctions, winning parachains won't be onboarded immediately, but at the beginning of the next lease period”, and added that “the Council will be able to pause the schedule if any issues arise”. If passed, the first auction will be at block #9777777 [Oct. 23, 2021].
What are Parachains?
Parachains are the diverse individual layer-1 blockchains that run in parallel on Polkadot or Kusama, but for the purpose of this article we will focus on Kusama.
Parachains are connected to the Kusama Relay Chain and secured by the Relay Chain's validator set. The key to Kusama scalable multi-chain architecture, parachains share in and benefit from the security, scalability, interoperability and governance of Kusama.
Kusama's cross-chain composability allows any type of data or asset to be sent between parachains, opening up a host of new use cases and applications.
Parachains can also connect to external networks such as Bitcoin and Ethereum using cross-network bridges, and can have a wide variety of designs and can be optimized for specific use cases.
Parachains connect to the Relay Chain by leasing a parachain slot via parachain slot auctions, by being granted a slot by Kusama governance as a common good chain, or by connecting as a parathread.