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The Polkadot Project Reveals the Completion of an Important Update…and Reveals Proposed Auction Dates

The Polkadot Project Reveals the Completion of an Important Update…and Reveals Proposed Auction Dates

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Answer The Polkadot Project Reveals the Completion of an Important Update…and Reveals Proposed Auction Dates

The Polkadot project was first presented as a white paper nearly five years ago.

Now, the Polkadot team has announced a major achievement as Parachains is officially ready to be launched on the mainnet.

Giving the green light to “Polkadot Parachains”:

Parachinat Polkadot is one of the important components that Polkadot developers have been working on that will make the network more integrated.

Diverse and specialized “parachins” represent the connection points of the “Polkadot” blockchain, and they also enable the possibility of multi-networks in the “Polkadot” architecture.

Polkadot announced today that the Parachin machinery is ready for launch and the team led by Gavin Wood and Robert Hebermayer revealed that the first auction could begin on November 11, 2021.

Read:Find out how much Bitcoin is lost or held since the beginning of the last bullish phase

It is important to note that Parachin programs have already been successfully deployed and run on Kusama Network since June of this year.

In the ensuing months, Kusama sold 11 parachin items at auction.

As a result, Kusama’s network has seen tremendous activity and has been running smoothly, which is an important factor considering how well Polkadot is ready to launch Parachin.

Gavin Wood and Robert Habermayer announced at the Sub0 conference that all potential technical barriers to launching Parachine have been successfully overcome.

Habermayr explained that there are improvements in the work, including contextual execution, which should speed up block time, alignment, etc…

Parachin Auctions:

According to suggest For the first parachine auctions on Polkadot, there is a proposal to offer 11 auctions divided into two groups.

The first batch will start on November 11, 2021, and the final auction will take place on December 15.

This means that there will be an auction every seven days.

On the other hand, the second batch will start on December 23 and end on March 9, 2022.

Read:Ledger Wallet Adds Support for Ethereum-Based Coins – ERC20

This means that there will be an auction every fourteen days.

This proposal is not final and must be voted on until the deadlines are set.

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