The Kusama referendum has passed. Will the slot auction start next week?

Kusama’s Shell Upgrade to Statemine Referendum 114 has passed.

The Kusama referendum has passed. Will the slot auction start next week?

At 3:00 am on June 3, Poca First Network Kusama’s Shell Upgrade to Statemine Referendum 114 has passed, and when it does, it will set the Shell storage to Statemine’s Genesis, and next, the Shell will be upgraded to Statemine.

Kusama is a scalable, dedicated blockchain network developed using the Substrate architecture, which has almost the same code base as Polkadot. The network is an experimental development environment for teams looking to experiment on Kusama and those ready to deploy on Polkadot.

Previously, in late May, GavinWood said that Shell Parallel Chain would begin deploying parallel chains once they go live.

Shell Parallel Chain is the simplest Runtime with no features, only the verification process of block addition and final confirmation, and the only thing you can do is wait to be approved for the upgrade.

After upgrading to Statemine parallel chain, it will become a public interest parallel chain for issuing tokens on Kusama in the future, and anyone can issue tokens on it.

Statemine will support homogeneous tokens first, and then non-homogeneous tokens (NFT) later. Other chains can also own tokens that exist on Statemine, can transfer them back and forth, can store them, etc.

Once Statemine is live, if Statemine runs without problems, auctions will begin.

The plan for the Kusama auction, however, has not been fully determined yet. The news said that the probability is that each auction will last for 7 days, with a total of 5 auctions.

The auction method is candle auction. There are 2 days of general auction, that is, the higher the bid, the more advantageous. However, after these two days, the auction enters an uncertain “Endingperiod”, which lasts for 5 days, but a random block of high bids will be selected as the real end time of the auction.

After conducting 5 auctions, it will be observed for one to two weeks before selecting the next progress.

Also, once it is determined that Kusama can run stably with several parallel chains, it will start to launch the first parallel chain on Boca, and the probability is that it will start a public interest parallel chain and then start the auction, as Kusama did.

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/the-kusama-referendum-has-passed-will-the-slot-auction-start-next-week/
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