Wassup paratroopers, you ready to take a leap of faith? Well, Polkadot, parachains.They’re coming with parasols to be filled, and guess what they’re limited. So let’s identify who’s going to make up its time for Chico Crypto! So, first, you remember my video on Monday, history and comparison of Ethereum, Polkadot & Cardano’s proof of stake.
In terms of decentralization, ethereal #1, as it had the most validators, and didn’t rely on any centralized component, Polkadot was #2, it had the least amount of validators just over 250 but it didn’t rely on a central component and clock.
While cardio was the least, had more validators than Polkadot over 1300, but it still to this day relies on a central clock. Although we were forgetting something about DOT validator numbers are going to increase, they just put an update, and validators in the active set will increase by 1 for each era, leading to a new maximum soon of 296 validators. But in December, the 1000 validator program is launching, we forget something else, Kusama is an extension of DOT and as we can see from their subs can they already have over 700 validators but going back to that Reddit post, their active validation set will increase to 900 soon. So actually between the two, DOT and Sama, it has just as many validators as Cardano, and it’s not relying on centralization.
And that Kusama, my mama. My baby mama’s drama is highly important to today’s video topic. Parisians. Why? Well, Kusama is a development breakthrough in the crypto space. A canary network for a blockchain, a live network with economic consequences for developers to test on.
Test networks once a blockchain gets popular enough, have always suffered from the same problems, spam attacks as gas is free & no real word governance. I’m sure Ethereum can tell you a thing or two about that. They faced those problems leading up to ethereal 2.0. Kusama was built to solve that, to create a test canary network, which was as compared to the real thing as possible.
And so far, it’s worked flawlessly. And here lies the path to the Polkadot parachain through Kusama. It is how you identify, which projects are going to make it in this ecosystem and now is the time, as if you go back to the ecosystem update post on reddit it says Note that in the near future, in preparation for parachains, all validators will have to rotate their session keys to add approval assignment and approval vote keys Preparation for parachains on Polkadotand you need to understand how limited the parachain slots will be going to the Polkadot wiki, in parachain slot auctions it says For a parachain to be added to Polkadot it must inhabit one of the available parachain slots.
A parachain slot is a scarce resource on Polkadot and only a limited amount will be available. As parachains ramp up there may only be a few slots that are unlocked every few months. The goal is to eventually have 100 parachain slots available on Polkadot You hear that, once parachians ramp up, there may be only a few parachain slots unlocked every few months.
If you take that into account for the 1st year after parachians go live, a few every few months would only equal at max 12 and only a 2 to 3 after the first months. So, the ones who have followed the correct path to parachain, through Kusama are more likely going to be ready to win these auctions. Now Polkadot put out a blog post in October, which gave some details on how companies could obtain one of these parachain slots.
It’s a more than deep article, which goes into the process, but at the very end..It gives the parachain development path. Chico Likes! It says
#1 Parachain deployment to Rococo, the parachain tested for Polkadot and Kusama. This will allow the project to verify the soundness of their technology before deploying on a platform with real economic consequences.
#2 After the technology is sufficiently developed, the parachain should be deployed to Kusama the canary network with real economic consequences. Then
#3 After fine-tuning on Kusama, projects that require bank-like security and robustness may consider a Polkadot deployment.
And in the case of a Polkadot deployment, many teams will choose to retain their Kusama deployment in order to test new features before deploying them on their Polkadot parachain. So basically, I’m looking for those who have gone through this process, it’s written right there. The path.
So who has gone down the path less travelled well months ago I mentioned it. From what I can see, and my opinion, The most technically advanced team out there. Robonomics XRT. So Robonomics on Rocco? Check It’s right there in the GitHub. How about Robonomics as a Parachain on Kusama. Check happened back in May.
And you want to know what is highly interesting. Around the same time, Polkadot put out there obtaining a Polkadot paraffin slot blog post-Robonomics put out this post-Robonomics Parachain Lease Offering It says Robonomics developers aim to allocate $720,000 for a 2-year lease of a slot in the Kusama network.
This underlying amount of XRT will be distributed among the KSM holders who will support the project with their tokens at the upcoming auction of Polkadots wild cousin So they are securing a 2-year lease slot on Kusama. But they go further and say Kusama first is our development strategy in the Polkadot ecosystem for the next 2 years. What!? Does that mean no Polkadot parachain? Well, yes you are correct. But this is not a bad thing, and actually a really freaking good thing.
The team says below The Kusama lease will allow Robonomics to debug the process of connecting IoT systems. Next, we will be ready to scale the network to 1 million IoT systems connected in real-time by transforming the network from Kusama Parachain to Polkadot Relay Chain.
Yes, they aren’t aiming for a parachain, a relay chain is a goal they also say By the time the Polkadot network is technically ready to accept 100 parachain projects, and the Kusama network is successfully connected as a parachain in the Polkadot slot, Robonomics will be ready to introduce its own parachain of parachains to multiply the bandwidth. Yipkayeehaa other truckers its a grander vision a needed path to take, for that vision and similar to another favourite of mine.
Energy Web Chain. Energy Web isn’t just pushing for a parachain slot but fills that slot with another relay chain which can host multiple parachains itself, not just be a single parachain or parathread which is suitable for some apps and projects, but not something of these 2’s scale.
But Tyler, who is going to fill the first parachain slot then? Well, luckily, the Polkadot Wiki has a list of those taking the first step of building a parachain on the Rocco testnet besides the core test parachains, tick, tick and track there are of course Robonomics, but also Mandala, Darwinia, Plasm & Turbulence. So, who could be the first? Mandala is Acala Network, Darwinia is Darwin, Plasm is Plasm & Turbulence is Laminar.
Well, not many tokens out there…released which can be traded. Only Darwinia. But if you to each of their roadmaps, Acala says q1 2021 parachain launch offering, plasm says q1 2021 Polkadot parachain, and laminar parachain offering then too. Those 3 are all going for the first batch, which is going to come within the next few months. But that leaves us with Darwinia. Are they attempting to win one? Well, going to their roadmap, it doesn’t go beyond the quarters 4 2020 and I searched for an official word, but could not find it.
So 3 that say they will be the firsts, all non-tradable tokens, for now and one maybe, its tradeable, manner, and cross ethereal bridge ready and live but the wiki, doesn’t tell the entire story, polkadot.js does and there are many other live networks, and test networks.
Potential parachains…and I’m going to save you all the time, I went through each one, no roadmap said or was clear if they were going live with the first parachain slots…but two One with a token, I’ve been super bullish on Sora Network we can see them down in test…and XOR they have even put out a detailed medium post with their parachain slot plans.
And the other one Bifrost, which is also down in the test, with Asgard and going to their roadmap, we can see they have in q1 2021, an auction for Polkadot parachain slot. But here is the nice little tidbit with frost, they have a mint drop going on, where you can lock ethereal to receive their BCN tokens, for a sweet go live in q1 2021 cheers I’ll see you next time!.