Slotting auction These time points you need to know

The auction has just reached the first stage of deploying shell chains, followed by the second stage of upgrading to statemine, and then the third stage of starting the auction.

Slotting auction These time points you need to know

Since January this year, Kusama and Boka’s parallel chain slot auctions have received a lot of attention. There has been a lot of news coming out from the officials, the project, the media and the community, and the Kusama slot in April and May seems to be on the horizon.

BML has compiled a list of timelines to give our community friends a better visualization of the timeline for the Poca Grand Ecology slot auction.

First of all.

rococo is purely a test network with no actual functionality and network data that can be smoothed out and rewritten.

Kusama is the first network for Poca, any features that will be deployed and upgraded on Poca later will be run on Kusama first. Just like our new policy will look for a demonstration area/demonstration city to try it out first and then carry out nationwide.

Poca is the ecological core network, which will be more secure because the access threshold (designed parameters) requirements are higher than Kusama, but also less flexible than Kusama. It is like the above mentioned a policy to be implemented nationally and in demonstration areas.

Rococo-Kusama-Poca: Rococo test first, then Kusama, then Poca.

Test phase: Rococo

2020.12.23 Announced rococo v1 test network is released and running, parallel chain can connect to relay chain through cumulus.

Rococo tested 5 batches of parallel chain runs, and more than a dozen crowd lending and auction runs after a total of four months of regular restarts and optimizations from January to April, and gradually increased the number of validators per test parallel chain from 1 to about 20 in the process. At the same time Rococo launched the public interest parallel chain statemine (i.e. system parallel chain Statemine, as explained later) around April 20th.

Supplementary: 5 batches of tested parallel chains

The first batch: Plasm,Acala

The second batch: Kilt,Interlay

Batch 3: Darwinia, Phala, Crust, HydraDX

Batch 4: Bifrost, Starks Network, Clover, Zenlink

Batch 5: ChainX, Robonomics, Patract Hub, MathWallet

Lot 6: TBD

Kusama Slot Auction

Roughly, there are three phases.

Phase 1: Deployment of Shell Chain (Shell Chain)

Phase 2: Deploy Public Interest Parallel Chain Statemint

Phase 3: Open Kusama parallel chain auction

The specific time period of Kusama slot process

May 1st: Gavin officially added the parallel chain module to the Kusama network. It means Kusama has the condition to deploy parallel chains.

Early May: Parallel chain module audit completed.

May 14th: Kusama officially launched the parallel chain function, as well as the auction and crowd lending function.

May 18th: Kusama voted to deploy the first shell chain (shell parachain:) in the network

So currently just gone to the first stage of the auction, deploying shell chains, followed by the second stage of upgrading to statemine, and then the third stage of starting the auction.

The official unlocking of kusama will be announced at the decode meeting tonight and tomorrow, and BML will explain it to you next week. So when exactly the auction, patiently wait for the official news, do not be swayed by the market’s various “just these days” news.

It is worth noting that the third phase is not directly start the auction, the official words are, in the third phase will do things such as

Decide on the final parameters

Decide on the schedule of the auction

Publish the schedule

Integrate the logic into Kusama Relay

Deploy the logic in Kusama Relay

Activate auctions

The Kusama network is currently expected to run 5 auctions, each 7 days apart. Further auctions can follow if no major issues are identified.

Boca’s parallel chain program is expected to be activated after two things happen.

First, a full external audit of all new logic should be conducted.

Second, the Kusama Canary Network performs at least one successful auction containing crowdsourced loans and implements at least one functional parallel chain to prove that the new logic is feasible.

Addendum: What is statemine

As mentioned in the previous article, about 20% of the slots in the parallel chain of Poca are reserved for official determination, and part of this 20% is determined by a public democratic referendum on the governance of the Poca and Kusama chains. This part of the parallel chain is called “common-good parachain”, which is what you have heard of as the public good chain.

The role of the public interest chain is to provide core functions for the big ecology of Boca, if it is left to the market dynamic auction, the problem of “free rider problem” may arise (this issue is private chat, not to expand).

The public interest chain is divided into the system parallel chain and the public function parallel chain. Among them, the system chain includes parallel chains for balance, for Staking and Council election, governance and identity. The public function chain includes the bridge, the generic asset chain and the DOT-priced smart contract platform.

One of the generic asset chains is Statemine. a shell chain is an empty chain that can only generate blocks but has no other functionality. the shell chain is upgraded to a public benefit parallel chain, statemine. statemine is a regular parallel chain for deploying generic assets and is a stable, permanent platform for a variety of assets that contain homogenized tokens, non-homogenized tokens ( NFT), stable coins, and central bank digital currencies (CBDCs). It allows for a better user experience and lower fees.

Meaning, statemine will allow different entities to deploy their assets to the Polkadot network, which includes, from artists issuing tokens for their works, to, central banks issuing central bank digital currencies. These standards will be coded into the chain as first-level logic, allowing non-DOT-holding, i.e. accounts that do not hold DOT, to use these assets and enjoy lower fees and network friction.

Deploying and maintaining this parallel chain through on-chain governance will show the power of the Polkadot community in organizing, and providing utility to all applications in the network, as well as to users.

After a successful vote through governance and the deployment and operation of Statemine, comes the Kusama auction.

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/slotting-auction-these-time-points-you-need-to-know/
Coinyuppie is an open information publishing platform, all information provided is not related to the views and positions of coinyuppie, and does not constitute any investment and financial advice. Users are expected to carefully screen and prevent risks.

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