Polkadot Lays Out Its Plans for Parachain Rollout as the Token’s Price Climbs
The price of Polkadot’s native token reached an all-time high (ATH) this week, surpassing $30 as the company outlines the next steps in its plans and systems to complete the network rollout.
Polkadot Roadmap 0 Implementation initiative
Polkado has published a roadmap showing that it is currently in the Rokoko phase, the first of three major phases until the network is operational.
Here’s the breakdown of the schedule.
Polkadot (DOT) intends to continue using parachutes, also known as application-specific data structures. These parachutes allow Polkadot to connect to other, more established networks, such as Ethereum and Bitcoin, through a mechanism called cross-chain message passing-lite.
Polkadot is still in the rococo phase of testing his parachutes. Once the code is reviewed and approved, we can expect Polkadot to vote on the online board to ordain parachutes and slot auctions to Kusama.
Polkadot says Kusama as an evolving multi-channel network will serve as another testing ground for parachutes. This is actually a sandbox designed to allow for additional testing and network effects before launching on Polkadot. The lower settings allow developers to test new ideas and also help increase visibility among community members.
The inclusion of the parachute option will ultimately depend on a vote by Kusama’s management. If the bid is approved, 100 parashoot slots will be awarded in unapproved candlelight auctions. Polkadot points out that users can expect a new auction about every two weeks, with more available at the end of each lease.
Polkado game offer
The auctioning of slots for parachutes plays an important role. Rather than using an initial coin offering (ICO) model, which can be (and has been) easily used due to limited proof times, Parachute’s offering includes candle auctions and a strong focus on management.
But this is not a traditional candlelight auction. Instead of using a random number to determine the duration of the opening bid phase, Polkadot is determined retroactively, meaning that bids made earlier have the greatest chance of success.
Once the auction is over, Polkadot will make the winning parachute available online. Parachain slots can be rented in six-month increments for up to two years, after which they are auctioned off.
The cost of operating these parachutes is difficult to estimate, given their price, but it is purely a market operation of supply and demand, as Polkadot seeks a safer and more reliable way to conduct its parachute auctions.
Once the auction is over and the paratroopers are operational, Polkadot says the launch of the network will be complete. While the network may be modified in the future, scalability will ultimately be in the hands of the community.
What do you think of the Polkadot network and the roadmap for the project? Tell us what you think in the comments below.
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