Polkadot developers have announced that they are ready to deploy parachemes on the platform. This will be the final phase of the multi-phase process of launching the core network, which has been underway since 26 May 2020.
5 years after the vision of a heterogeneous multichain framework was first outlined in the Polkadot Whitepaper, parachains are now ready to launch on Polkadot. Motion 118, to schedule the first auctions, has passed council & now gone to public referendum.
Parachains are a variety of specialised blockchains that connect to Polkadot's "relay" chain and make up the "multi-chain" aspect of the platform's architecture.
Speaking at the Sub0 conference, the Parity Technologies engineering team behind the Polkadot development and project co-founders Gavin Wood and Robert Habermeyer reported that all technical barriers to launching parachains have been removed.
The code is ready for deployment and has been audited, they clarified.
The developers recalled that parachains have been running successfully in the Kusama testnet since July 2021. A total of 11 slot auctions have taken place there and 12 "parallelised" blockchains are functioning.
Habermeyer stressed that code readiness and maturity are not equivalent. Parity has therefore recommended that the number of parachains uploaded to Polkadot be limited to 75% of the number in Kusama until the technical base is finalised.
The recommendations were included in a proposal made for validators to start auctions for parachain slots from November 11.
Bidders will need unlinked DOT tokens to participate in them, the developers reminded.
The price of Polkadot's native coin has responded by rising. At the time of writing, the asset is up more than 20% in 24 hours, according to CoinGecko. At its peak, the rate was climbing above $43.
Recall that Gavin Wood announced the start of the final phase of the Polkadot mainnet launch in May 2021.