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Produced by Sanli | Vernacular Blockchain (ID: hellobtc)
The vernacular blockchain previously wrote an article " Four major outlets that should not be missed in the second half of the year: ETH2.0, Polkadot, storage, DeFi ", which mentioned that Polkadot will be launched in the first phase of the second half of the year, especially parallel When the chain slot auction goes online, there may be a wave of fire. This tuyere is the one that cannot be missed .
According to official information, Polkadot will officially launch a parachain slot auction in the next few months. This is a crucial milestone in the development of the Polkadot project. What kind of operation is this and what new breakthroughs will it bring to the blockchain ecology? Today, let us understand the development history of Polkadot and what is the Parachain Slot Auction?
01
What Boca yes? What is the relationship with parachain?
Polkadot is a project that started in 2016. When you mention Polkadot, you have to introduce its founder. Gavin Wood is well-known in the industry. It is the co-founder of Ethereum and the former chief technology officer of Ethereum. A top developer of the same name as V God, the vernacular blockchain has done an exclusive interview with him before. If you are interested , you can check it out .
Gavin Wood once stated that Polkadot was designed based on the consideration of expanding Ethereum at the end of 2014 and is a scalable heterogeneous multi-chain system. What does it mean?
Polkadot is regarded as an expansion solution for blockchains such as Ethereum. It is expanded through multiple parachains, and nodes only need to verify the transactions on the parachains. Allow independent transactions on different parachains, thereby increasing transaction throughput and expanding the transaction capacity of each additional parachain.
In layman's terms, there is only one socket at home, but I want to charge my computer, my mobile phone, and watch TV. What should I do? Buy more power strips to solve it! Polkadot is equivalent to a socket, inserting a socket strip is equivalent to adding a relay chain, and various electrical appliances connected to the socket strip (that is, parallel chains of various architectures) operate independently.
In order to realize data and information exchange between different blockchains, Polkadot is committed to establishing a multi-chain architecture so that all blockchains connected to this architecture can better complete the information interaction between each other. , This is the meaning of heterogeneous multi-chain systems.
This is also Polkadot's core vision: hope to build a bridge between blockchains so that they can communicate, and the goal is to unify the fragmented blockchain ecosystem. Polkadot network can be divided into three parts: relay chain, parallel chain and transit bridge.
Chain relay (Relay Chain): responsible for verifying the information exchange, to maintain the security of the entire network, the security of all parallel chains by the chain responsible for the relay, no electricity outlet once, on the whole no electricity. This is also a major feature of Polkadot-shared security. The main function of the relay chain is to verify the blocks given by each parachain and give a proof of finality.
Parallel chains (parachains): Due to the limited slot on the card, in order to obtain permission to charge, required by auction. Parachains are responsible for handling various "trivial matters". Independent blockchains run on top of the relay chain. Different parachains can focus on different businesses and serve different needs. Just like the refrigerator is responsible for cooling and the TV is responsible for broadcasting.
Transfer bridge : The interconnection between the Ethereum, Bitcoin and other networks and the Polkadot network can be realized through the transfer bridge.
02Why
do Parachain Slot Auctions?
Polkadot is a blockchain network that expands by spreading transactions across multiple parallel blockchain shards (called parachains). Parachains are dedicated shards on Polkadot, which provide their own agency rights for projects and their communities.
Some people say that a public chain is not good. In addition to its own technology and architecture, ecology is the core element of whether it can be the king of the circle. Parachain is a vital role in the Polkadot ecology, and the auction of parachain slots has always attracted attention. For Polkadot: Parachain slot auction is an important milestone in Polkadot's roadmap, which means that Polkadot's cross-chain vision has truly begun to land.
Since the operation of the parachain requires certain network computing resources, there is an upper limit on its number. Gavin Wood said at the Polkadot China trip in July this year that the upper limit of the number of parachains will be about 100. For the project party, if they want to become a parachain, they need to rent a limited slot through an auction to access the parachain.
For all parachains that want to link with the main network, "slots" or "chain slots" are a must. The bidding is to buy this. Since the number of chain slots is limited, whoever bids higher and supports more coins Can get this chain slot, the auction is conducted every six months.
The bidding of the parachain slot uses a candle auction (the highest bidder bids successfully at the moment the candle is extinguished), and is carried out by simulating the process of extinguishing the candle on the chain. What is the use of parachain to get this slot? Not only can cross-chain intercommunication be carried out, but it can also increase its storage capacity and the number of transactions. In addition, the consensus carried out by Polkadot is more secure.
03
summary
The possibility of combination and synergy between parachains has allowed breakthroughs in customization and expansion, and has brought Polkadot China's ecological development one step closer. Although the specific time of the Polkadot slot auction has not yet been determined, Gavin Wood has revealed that the Polkadot mainnet plans to launch the parachain at the end of the year or early next year, and it will be tested on the Kusama network before that.
Have you followed Polkadot's Parachain Slot Auction? Welcome to share your views in the message area.
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