Polkadot set to launch Parachain and announced proposed dates for Auctions
For the company, the launch represents the last stage of Polkadot’s multi-phase launch process
As the last stage of Polkadot’s multi-phase launch process, the network finally is ready to initiate parachains in their system.
This means that Polkadot is now technically capable of supporting the “diverse, specialized blockchains that connect to the Polkadot Relay Chain and constitute the ‘multichain’ aspect of Polkadot’s groundbreaking multichain architecture”, as announced by the official statement of the company.
The announcement was made by Polkadot founders Gavin Wood and Robert Habermeier in October 12, 2021, and followed a motion to open up the network’s first parachain slot auctions, with a proposition to begin on November 11th, 2021.
According to Polkadot’s official statement, this launch represents “the final piece of core technology outlined in the Polkadot Whitepaper”.
Polkadot’s founders talked on behalf of Parity Technologies in a conference, the engineering team commissioned by Web3 Foundation to build Polkadot’s initial implementation.
Wood and Habermeier reinforced Parity’s position that “all technical barriers to parachain launch on Polkadot have been surpassed”, meaning that “parachains, auctions, and crowdloans code are now ready for an initial production release on Polkadot”.
However, they reminded that parachains already run in Polkadot’s canary network, Kusama, with the launch of Statemine back in June this year, with 11 parachain slot auctions successfully taking place on it, and a total of 12 live parachains.
Since then, the system has been tested and upgraded, when the parachain teams conducted ‘forkless’ upgrades on the network, processing several million transactions.
The community participation is also celebrated by Polkadot’s team, which in conjunction with Kusama parachain auctions, contributed over 2.4 million KSM to crowdloans in more than 49k unique addresses.
The official statement added:
“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”
Habermeier also endorsed the company is ready for the launch, but that does not necessarily mean maturity - implying that it still can have bugs in the parachain.
This readiness implies that the parachain code is feature complete, “integration tested, audited, and deployed”, demonstrated on Kusama and Rococo. “The road to maturity means making sure the code is highly-optimized, battle-tested, and stable”.
That’s why Parity Technologies advised to proceed with a conservative approach in order to
ensure that the total number of parachains launched in Polkadot does not exceed 75% of the number running on Kusama at any given time until the code is mature.
Also, Polkadot governance may need to pause auctions should any unexpected and significant issues arise.
Auction proposed dates
According to the motion 118 submitted to Polkadot Council, it was suggested that the auctions should begin on November 11th, 2021.
The proposal is now going through a public referendum and suggested that the first batch of 5 auctions would take place with 1 new auction each week, with a second batch of 6 auctions to take place with 1 new auction every two weeks.
Polkadot’s announcement stated that “those who wish to participate in parachain crowdloans should note that they will need unbonded DOT tokens to participate, and the current unbonding period on Polkadot is 28 days”.
See the full proposal on auction dates by clicking here.
Polkadot’s canary network, Kusama, is integrated in the Klever App and Polkadot’s full integration will be available soon.