DOT surges by 15% as Polkadot released a roadmap for the parachain rollout

  • Polkadot today made its roadmap for the rollout of the parachains public. 
  • After the first slot auction on Kusama and Polkadot, a new auction is planned “roughly every two weeks” on both platforms.

Polkadot (DOT) is the biggest gainer within the top 10 cryptocurrencies by market cap within the last 24 hours. At the time of writing, the DOT price stood at $30.60, registering an increase of 15.4% within the last 24 hours. Since the beginning of the year, the price has thus more than tripled – on 01 January, DOT was still trading at USD 8.29.

The price increase comes on the heels of the news that Polkadot first publicly revealed information on what the next steps for the “parachain rollout” will be. Although the team behind the project has not yet given specific dates, this is the first time it has described the sequence of steps for the rollout. Furthermore, it was revealed that after the first slot auction on Kusama and Polkadot, a new auction is planned for “roughly every two weeks” on both platforms.

The rollout of Polkadot’s parachains

Polkadot’s parachains are the final piece of core functionality outlined in the Polkadot whitepaper that still needs to be rolled out to realize a scalable multi-chain architecture. According to the official website just published, after “a period of testing, tweaking and review,” Parachains will be ready for use and can be activated via on-chain governance.

Once parachains are live, the community will determine which additional features and network upgrades should be added over time.

Currently, the release is in the testnet rollout phase. The parachain functionality will first be rolled out for testing and troubleshooting on Parachain testnets such as Rococo. Once these tests are successfully completed, registration will be opened to Parachain teams.

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Once the testnet parachains are also running smoothly, and the code has been fully tested and evaluated, a vote to activate parachains and slot auctions on Kusama will be submitted via on-chain governance.

As a live network with real economic incentives, Kusama will serve as an additional proving ground for parachains, allowing the community to observe network effects and conduct further testing and optimizations. Kusama governance will first vote to enable parachain functionality via runtime upgrade. After that it can vote to begin slot auctions and to add any common-good parachains.

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After the first auction on Kusama, there will be a new auction approximately every two weeks. After each auction, the winning parachain will be added to the network.

As soon as the parachains are running smoothly on Kusama, there will be an activation vote on Polkadot governance and the first parachains will be made available for public use and slot auctions will begin on Polkadot via on-chain governance.

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About Author

Jake Simmons has been a crypto enthusiast since 2016, and since hearing about Bitcoin and blockchain technology, he's been involved with the subject every day. Beyond cryptocurrencies, Jake studied computer science and worked for 2 years for a startup in the blockchain sector. At CNF he is responsible for technical issues. His goal is to make the world aware of cryptocurrencies in a simple and understandable way.

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