Polkadot Week in Review: When will the first parallel chain be upgraded to Statemine?

A 5 minute look at the big events that happened in the Polkadot ecology week!

Polkadot Week in Review: When will the first parallel chain be upgraded to Statemine?

A 5 minute look at the big events that happened in the Polkadot ecology week!

Polkadot Week in Watch is a rundown of what happened in the last week for the entire Polkadot ecosystem, as well as sharing some of our observations on these events in vernacular form. This article is intended to provide information and perspective and does not endorse any projects. Any projects mentioned will not be recommended for investment, but only for information purposes.

1、Observations and Opinions
I. Why is Poca late in going online with Statemine?
Last week, according to the plan, it should have been the first parallel chain Shell will be upgraded to Statemine, but the delay in the upgrade, we must be anxious. In fact, there was a little hiccup. On May 24, Polkadot node failed due to the out-of-memory (OOM) error of block 5202216, and the official took a little time to fix the problem. We need to understand the officials a bit, after all, what Polka is doing now is more complex than all previous blockchains and has never been done before. It took 20-50 (depending on how one goes about counting) expert developers three years to get just to the version with a fully functional parallel chain, while the full functionality of Ether took just a few weeks for two people, Gavin and Jeff.

So, it is as if we just built a small house with brick and mortar structure before, and now we have to build a building with reinforced concrete structure, and it is the first time for human to build a building with reinforced concrete structure, so its difficulty is as big as you can imagine. On the other hand, we should be tolerant to look at the progress arrangements announced by Poca now, because Poca is doing is never done before in the field, so for Poca, every step must be careful, its progress is naturally not like our house repair schedule can be projected more accurate time, because the reality of the house repair is already very mature technology, encounter what kind of situation how to The solution also has a plan and various methods in advance. But the boka is different, its update iteration, each step needs to go through the actual installation, and then observe whether the boka normal operation, if it runs well, and then the next update, of course, this is the more ideal state. But more often than not, it runs with a little problem, needs to be improved, then observe if it still runs well, and if there is a problem, adjust it again until it can run well.

So, Poca officials are not intentionally trying to delay the pace, but out of rigor, must have no problems before the feature will be launched, which is also responsible for all involved in Poca.

Last week was also the first anniversary of Poca main online, it is still very young, compared with other mature projects, its rhythm is different, it is still in the process of accumulating momentum, Ether is still in the budding stage even when it has been online for a year, so there is no need to rush. At present, Shell chain is running well, Shell upgrade to Statemine should be very soon, just be patient and wait.

Two, Ethernet’s EVM and Polka’s WebAssembly are not either/or
Last week, Dr. Gavin, the founder of Poca, was invited to CoinDesk’s Consensus Conference 2021, where he acknowledged the status of EVM in today’s blockchain development, but also showed that EVM and WebAssembly are not either/or. It is important to acknowledge the historical status and role of EVM, but also to explore the possibility of the next step, which for him is WebAssembly.

EVM full name, The Ethereum Virtual Machine, that is, the Ethernet virtual machine, is the part that carries smart contracts. And most of the current hot applications of DeFi are built around EVM to build smart contracts, so many emerging public chains, such as BSC, Heco, OKExChain, NEAR, etc., also attract Ether developers to their ecology by supporting EVM.

But EVM is not the best solution, it is itself a basic solution developed by Dr. Gavin during Ether, there was no suitable mature solution at that time, so he had to invent an EVM by himself first. but nowadays, WebAssembly technology has gradually matured (WebAssembly is a software format, abbreviated as WASM has many advantages over EVM, including significant speed and efficiency improvements, reduction or even elimination of pre-compilation, which can reduce gas costs, support for more languages, and a broader toolset than EVM.

Although EVM has a lot of first-mover advantages at the moment, Ether is also well aware of the shortcomings of EVM and the advantages of WASM, so Ether will also upgrade EVM to eWASM (Ether version of WASM) afterwards, so it seems that it is Poca’s layout in the front.

Poka’s thinking is clear: it recognizes the achievements of EVM, so it is technically compatible with EVM (after all, EVM was originally invented by Gavin), but it also wants to look at the future, so Poka supports WASM technology more.

If we consider EVM and WASM as traditional oil-burning cars and new energy cars with electricity, then Poca is like aiming to be a Tesla, but currently making hybrid cars. In the Poca ecology, the Patract open platform, which is designed to provide solutions for the development of parallel chains and DApps in the Poca WASM smart contract ecology, is working hard to make Poca better become a “Tesla”.

So, for the whole blockchain trend will shift from EVM to WASM, how to grasp this opportunity, you can pay more attention to the movement of Patract.

Third, domestic mining is suppressed, favorable PoS?
Since the Vice Premier proposed a crackdown on bitcoin mining and trading last week, domestic miners have fled or considered moving to storage mining. And with some mining-related bans and investigations moving forward last week, it is believed that there will be a mountain of rain and wind behind the scenes, and it is a question of whether storage mining will be spared by then. On the other hand, as we mentioned before, there are legal licenses in Hong Kong to operate cryptocurrency funds and exchanges, but now there is also a tendency to only allow qualified investors to participate in the investment, perhaps with similar kind of investment requirements for Hong Kong stocks, such as securities accounts and capital accounts combined cannot be less than RMB 500,000, how to specify and whether to implement is not yet known, but one can However, we can feel the domestic policy tendency of not allowing retail investors to participate, reducing the financial impact of cryptocurrencies, and suppressing PoW mining such as Bitcoin, which consumes more electricity, in order to achieve the domestic goal of carbon peaking and carbon neutrality.

So is it true that the east is not bright, the west is bright, PoW consumes a lot of energy, and will PoS, which basically does not consume energy, be safer? From the domestic policy tendency we just mentioned, the energy consumption piece, indeed PoS will not be affected, is considered good for PoS. But on the other hand, if cryptocurrencies have a big impact, we can’t rule out the possibility that further specific rules will be introduced in China, which will affect all cryptocurrencies, and PoS will not be spared. So, with such expectations in place, if there are further policies launched later, there will definitely be more violent shocks, and we should be ready to make psychological expectations.

The following is, last week’s Poca ecological news is introduced, please Enjoy.

2、Poca official news

Gavin Wood: WebAssembly is the future of smart contracts, but “traditional” EVM is now in sight

According to CoinDesk news, Polka founder Gavin Wood spoke at the Consensus 2021 conference, acknowledging the place of EVM in today’s blockchain development. eVM has many developers and many software tools that they can use to simplify coding. Wood said other blockchains are catching up with those tools, so “it would be foolish to throw those away. But it’s not foolish to start thinking about where the next goal is, and for me, that’s using WebAssembly as a smart contract.” WebAssembly is a software format that can be used on the Web and can easily be used with multiple software languages. It is built by large web companies and is available on all major browsers.

[Polkadot v0.9.3 is officially available].

According to the official news, Polkadot v0.9.3 is officially online, and the official recommendation is to upgrade the node as soon as possible. This update introduces code to replace wasm on Polkadot chain and code_substitute command. In addition, if a verified node was previously downgraded to v0.8.30 and used the –execution=native command, –execution=native will be removed when upgrading to v0.9.3.

[Polkadot node with error on May 24 has been resolved].

According to official news, Polkadot node failed on May 24 due to an out-of-memory (OOM) error in block 5202216. The block contains the on-chain solution for the verifier election, which is usually calculated off-chain and only on-chain if no off-chain solution is submitted. Due to the large number of nominators, the election overflows the memory allocated in the Wasm environment. In preparing an update to address this issue, the validator was asked to temporarily downgrade its node software to a previous version containing the runtime native (non-Wasm) version. The native version is not subject to the Wasm memory allocator. After a downtime of one hour and ten minutes, the network was restored. Later, in block 5203204, several nodes failed due to a “memory root mismatch” error. After investigation, this was due to a different compiler version between the native runtime and the on-chain Wasm runtime. This issue has been resolved and precautions have been taken to prevent future recurrence.

[Polkadot network has been running for one year].

On May 27th last year, Polkadot started the Genesis block, then upgraded from PoA network to PoS network, turned on the governance feature, removed the sudo module, and later turned on the transfer feature and renamed the denominations. Now that the first anniversary has passed and we are about to have the most important feature of PoC come online, let’s look forward to the parallel chain slot auction together.

[Boca Weekly: Kusama Runtime has been successfully upgraded v9030, Shell is now running stable]

Polka Weekly Report shows that Kusama Council has voted to pass motion 299 (upgrade Kusama’s runtime to 9030) and enter the referendum, after that the technical committee has accelerated the vote on this, and has ended the vote on this Friday. Kusama’s runtime has now been upgraded to v9030, which adds some necessary changes to the parallel chain. After this upgrade, Shell Parallel Chain is running stable.

3、Big ecological news
【Zenlink will go online with a machine gun-like pool product Zenlink SlotVault】.

Zenlink SlotVault is a machine gun pool product created by Zenlink to support more parallel chain projects to bid for slots and to meet the demand of more non-parallel chain projects to participate in Poca parallel chain slots. machine gun pool product. The product will allow users to choose their own allocation of funds to participate in the Crowdloan of each parallel chain project based on the revenue, and thus receive multiple tokens from the Crowdloan sponsor and its supporting projects, encouraging more users to participate in the Crowdloan of parallel chain projects and increasing the success rate of parallel chain projects bidding for slots.

Apron Network Announces Kusama Parallel Chain Slot Auction Program

Apron Network announced that it will participate in the Kusama slot auction to provide infrastructure services for the boca ecosystem as soon as possible.

Kpron Network is a test network deployed by Apron Network on the Kusama network with the token KPN, which will be distributed by Apron Network as part of the tokens issued on Kpron Network with a 1:1 mapping, i.e. 1APN=1KPN, Apron’s token The economic model will not change and the total amount will remain the same.

Cycan joins the Patract open platform and uses Redspot to significantly advance the project’s development progress

Cycan Network has entered into a strategic partnership with Patract Labs, and Cycan has announced that it has joined the Patract Open Platform to jointly promote the development of public infrastructure and contract technology evolution, and develop the Wasm contract development ecosystem.

UniArts Launches Onigiri MikoShi, an Eco-App

UniArts launched the eco-application Onigiri MikoShi, which will provide digital promotion and derivatives trading services based on NFT technology.

[CoinAsk, a paid Q&A community under OpenSquare, fully opened the incentive program for quality content]

OpenSquare is an application-based blockchain product focused on decentralized collaboration and credit building in the polka ecology. OpenSquare will give a lot of targeted incentives.

[Shiden Shell Chain has completed local deployment].

Shiden Network, the canary network of Plasm Network, tweeted that Shiden Shell chain has been successfully deployed locally. Technically, the team is ready to release the Shiden Shell chain on the Kusama network.

[OAK Network Awarded Web3 Fund Grant to Build Quadratic Voting Module

OAK Network is a San Francisco-based blockchain technology company focused on blockchain underpinning and smart contract engine innovation. Recently, OAK Network has successfully received a grant from Web3 Foundation. It is reported that this grant round will be mainly used to build an innovative crowdfunding module for Polkadot network and has achieved OAK’s first milestone as a Web3 Foundation supported project.

The purpose of the grant is to implement quadratic voting, a generic acronym for Constrained Libertarian Radicals algorithm (hereafter referred to as CLR).

[Polka Cross-chain Prophet Paralink Network Integrates Polygon]

According to official news, Polkadot cross-chain prophecy machine Paralink Network has announced the integration of Polygon, an ethereum scaling solution that will provide data feeds to its chain. By offering a multi-chain prophecy machine solution, Paralink allows users to benefit from its on-chain consensus algorithm running on Polkadot Substrate.

[Privacy DeFi Protocol Manta Network Joins Polkadot DAO Alliance

Manta Network is a plug-and-play privacy-preserving parallel chain designed to provide privacy services for the entire DeFi network. Poca DAO Alliance actively promotes the application and infrastructure of decentralized governance of Poca and wider ecology, and keeps exploring new paths of DAO governance, with the ultimate goal of “real decentralization of Web3.0”.

Continuum Finance: Lightning loan and liquidity pool have been tested successfully

Continuum Finance tweeted that lightning loans and liquidity pools have been successfully tested and the platform will be launched soon.

[Polkadot smart contract platform Moonbeam released Moonbase Alpha v8 version, new set minimum gas fee]

According to official news, Moonbeam, an ethereum-compatible smart contract platform on Polkadot, has announced the upgrade of its developer TestNet to Moonbase Alpha v8. This is the last release of Moonbase Alpha before the release of “Moonriver” (i.e. Kusama deployment of Moonbeam). This is the last major update to Moonbase Alpha before the release of “Moonriver” (i.e. Kusama deployment of Moonbeam). In this update, the Moonbeam team added debugging and tracking node stability, set a minimum gas price, completed the initial implementation of the parallel chain pledge feature, and included several other components required for the Moonriver release.

[Darwin First Network Crab announced that it will participate in Kusama parallel chain auction].

According to the official news, Darwin First Network Crab announced that it will participate in the Kusama parallel chain auction and use crowd lending to bid for slots, which requires participants to lock their KSM in Crowdloan for 48 weeks. Participants will receive CRING, RING, NFT, and BTC as rewards, and 30% of the prize pool will be released immediately after the auction ends, with the remaining 70% to be released over 48 weeks.

[Polkamarkets partners with on-chain incentive protocol DAFI to support synthetic token incentives]

According to official news, Polkamarkets, a Polka Eco DeFi and prediction marketplace, has entered into a partnership with DAFI Protocol, an on-chain incentive protocol, to enable synthetic token incentives. The partnership will help explore the possibility of using DAFI synthetic tokens on the Polkamarkets prediction marketplace platform. polkamarkets will use DAFI synthetic tokens as a reward system for long-term users.

As previously reported, DAFI Protocol has launched the first synthetic application, DAFI Simulate, which enables users to create dTokens from existing crypto assets. the first iteration of DAFI synthetic dToken enables users to create synthetic dBTC, dETH, dAAVE and dLINK using the Metamask wallet. synthetic dToken will be linked to the value and demand of these compatible networks, and their number will change to create demand-linked models. These features will allow users to simulate the pledge and social reward programs that DAFI will launch in June.

4、Ecological investment and financing
[Polka Cross-Chain NFT Protocol DNFT Receives Million Dollar Financing, LD Capital and Others Participate]

Polka cross-chain NFT protocol DNFT announced the completion of a multi-million dollar round of financing, this round of investors include LD Capital, Candaq Fintech Group, Waterdrop Capital, 7 Star Capital, GD Capital, 1PAR, InnCube Crypto Capital, Win Capital, ChainUp Capital and several other institutions.

It is reported that DNFT is a new generation of cross-chain NFT protocol based on Polka, dedicated to realizing data assets across platforms, and aims to develop into a cross-chain infrastructure in the NFT field. DNFT has been sponsored and supported by Web3.0 Foundation’s 9th Grant, BSC Grant, Filecoin Grant, etc.

5、Ecological Cooperation
[Zenlink SlotVault will be deeply integrated with Bifrost SALP to provide the first liquidity derivatives mining product for slot auctions]

Zenlink SlotVault will be deeply integrated with Bifrost’s slot auction derivative solution SALP to provide the first liquidity derivative mining product for slot auctions. At that time, users pledging KSM/DOT in Zenlink SlotVault DApp to participate in Bifrost crowd lending will not only get multiple benefits including parallel chain tokens, but also release the liquidity of KSM/DOT locked in the auction, providing maximum crowd lending benefits to users!

[Apron Network, a middleware platform for polka, and Idavoll Network enter into a strategic partnership]

Apron Network has entered into a strategic partnership with Idavoll Network. As a middleware-focused service platform, leveraging a decentralized cross-chain DAO protocol like Idavoll Network will enhance the community’s ability to access its governance and protocol upgrades. Idavoll Network provides a framework for real-world organizations on the blockchain to resolve disputes and act as a governing body.

[SubDAO Enters into Partnership with PlatON, a Privacy AI Computing Network

SubDAO announced a partnership with PlatON, a privacy AI computing network. Both companies will work together to achieve the interoperability of the two ecological domains of SubDAO and PlatON through multi-dimensional technical and ecological collaboration. Through this partnership, SubDAO will provide management tools for DAO organizations to PlatON’s ecological projects, providing membership management, voting management and asset management, and help PlatON better automate the Github-based Grant audit process through SubDAO’s Github OCW off-chain work machine.

Boca Ecology NFTMart and Silverwing Culture reached a strategic cooperation]

Recently, NFTMart, the NFT trading platform of Boca Ecology, announced a strategic cooperation with Silverwing Culture, with which NFTMart will jointly explore young directors and explore innovative models of science fiction films in the form of NFT+. Silverwing Culture, as a cultural event initiator with the theme of science fiction films, has the resources to create science fiction fantasy films and other art forms. NFTMart users, most of whom are blockchain enthusiasts and investors, are also heavy fans of science fiction movies, and the overlap between the two user groups is very high. NFTMart will join hands with Silverwing Culture to launch a science fiction image NFT collection campaign to promote the development of science fiction IP and science fiction series NFT assets, bringing a new science fiction and investment experience for NFTMart users.

Apron Network, a middleware platform for polka, enters into a strategic partnership with Evanesco]

Apron Network will integrate decentralized infrastructure services with Evanesco, a multi-chain privacy platform, and Evanesco will use its core layer0 privacy protocol technology to provide better privacy and security solutions for Apron Network in the form of multi-chain privacy protocol SDK. Evanesco will provide full-chain privacy protocol technical support for each blockchain project ecology.

NFTMart, the NFT trading platform of Boca Ecology, has reached a strategic cooperation with Volcano Image

NFTMart, the NFT trading platform of Boca Ecology, announced a strategic cooperation with Volcano Pictures, a domestic animation development team. NFTMart will work with Volcano Pictures to develop a large number of its Chinese animation IPs through the latest blockchain technology, providing fans with more diversified ways to participate and customized services.

The company is a film and animation development team with traditional Chinese culture and art combined with modern visual concept design as its core driving force, and includes a large number of Chinese animation IPs. fan base.

Ares Protocol & Polkalokr announce cooperation]

Ares Protocol will provide Polkalokr with our Prophecy Machine asset offer to enhance their P2P cross-chain token exchange protocol. Also Ares Protocol will integrate token distribution mechanism to their token locking feature.

[Coinversation and Crust enter into a strategic partnership for decentralized cloud storage

Coinversation Protocol, a synthetic asset protocol based on Boca AMM and DEX, and Crust Network announced a strategic partnership. coinversation will deploy and run web pages on Crust, as well as store user data based on Crust’s distributed storage.

[Crust Network and Manta Network Enter into Decentralized Storage Privacy Partnership

Crust Network and Manta Network formally entered into a strategic partnership. manta will build the privacy layer for the Crust decentralized storage network. crust Network will provide decentralized storage services for Manta.

Stablecoin protocol Standard Protocol and Plasm have entered into a partnership to build a smart contract version]

According to official news, Standard Protocol, a stablecoin protocol, announced a partnership with Plasm. Standard will build a smart contract version on Plasm, and Standard will provide prophecy machine information to Plasm from its parallel chain to generate related synthetic assets such as virtual stocks and virtual commodities.

[Crust Network and Kaka Partner on Decentralized Storage of NFT Assets

Crust Network and Kaka, the world’s top DeFi platform for the NFT vertical game value ecosystem, announced a partnership to provide a decentralized storage solution for NFT asset content on its gaming platform, and Kaka will help more quality IP enter the Web 3.0 gaming world in the form of NFT.

[Coinversation, a PoC synthetic asset protocol, and Tidal, a customizable insurance marketplace, have entered into a strategic partnership]

According to official news, Coinversation Protocol, a synthetic asset protocol based on PoC AMM and DEX, and Tidal Finance, a customizable insurance marketplace, announced a partnership in which Tidal will provide insurance services for Coinversation’s synthetic assets.

In addition to providing users with decentralized financial services, Coinversation will integrate Tidal insurance services to provide maximum security for users and traders. Users can create insurance pools by selecting one or more contracts. For example, insurance pools may be a mix of different tokens from different platforms. The pool creator can choose to select any asset from any platform in the current market, as well as set the coverage term and leverage ratio, etc. Through this partnership, Tidal Finance will expand underwriting coverage and extend the benefits of users’ savings assets.

[Privacy DeFi Agreement Manta Network and Phala, a Boca privacy infrastructure, enter into a partnership]

According to official news, Manta Network, a privacy DeFi protocol, announced a partnership with Phala, a Poca privacy infrastructure, to build a comprehensive Poca privacy ecosystem. The partnership will provide privacy and countability for both the computing and transaction layers of PoC, with Manta providing DeFi features such as privacy minting, privacy transfers and privacy transactions, and Phala providing exchange, lending and other features in a private environment.

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/polkadot-week-in-review-when-will-the-first-parallel-chain-be-upgraded-to-statemine/
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