Polkadot sweeps everything in his path – Cardano (ADA), Solana (SOL) or even Binance Smart Chain (BSC): the Ethereum killers have continued to be talked about in recent months. However, the competition could take another turn with the arrival in force of Polkadot (DOT).
A strong arrival of the parachains on Polkadot
Polkadot is a blockchain imagined by Gavin Wood and Robert Habermeier, 2 former Ethereum contributors. The main objective of Polkadot is to ensure the interoperability of blockchains. This is developed by Parity Technologies, the company behind the eponymous Ethereum client.
Polkadot defines itself as a layer 0 infrastructure, ensuring the security and validation of transactions. This allows coordinate the different parachains, kinds of first-layer blockchains that are deployed on the network. Each of these parachains has its own ecosystem and its own rules.
“As the only zero-layer protocol in the blockchain, Polkadot is designed to disrupt the entire Layer 1 protocol landscape for years to come by dramatically reducing the overhead required to secure and connect Layer 1 in the form of parachains. “
Declaration by Peter Mauric, Head of Public Affairs at Parity Technologies
Initiated in 2017, Polkadot is a project still in development. This one was recently talked about via Kusama (KSM), its network says « canaris » which acts as a full-scale test network. While the parachain deployment began on Kusama for several months, the Polkadot network was still on hold.
However, on October 14, Joe Petrowski published a proposition of modification aimed at hosting the first auctions of parachains, from November 11:
“This is a proposal to schedule the first round of Parachain auctions on Polkadot and to secure Board buy-in to a recommended strategy to schedule auctions on a 3-6 month basis. “
The program therefore offers 2 series of sales:
- A first starting on November 11, for a period of 7 days, during which 5 auctions will be conducted;
- A second planned for December 23, still over a period of 7 days with, this time, 6 auctions.
Good news for DOT holders
The Polkadot blockchain has a native token: the DOT. In addition to acting as a governance token, providing decision-making power to its holders, this token allows users to to secure the network via a module de staking.
Following the announcement of the auctions on Polkadot, the token recorded a 17% increase passing from 35 to 41 dollars on the night of October 13th to 14th.
The increase then continued until it reached the $ 44, October 16. The price has since fallen slightly, with a DOT at 41,12 dollars at the time of this writing.
It now remains to be seen whether Polkadot will be able to catch up with the delay faced with other smart contract blockchains. In addition, these are increasingly interconnected via bridges, creating a new multichain paradigm for the DeFi ecosystem.
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