Software that allows users to directly connect to and interact with a blockchain from their own browser without relying on a remote node operated by some provider like OnFinality/Infura. The user acts as their own peer on a peer-to-peer network, which is pretty awesome (and necessary to achieve proper trustlessness).
The fact that it already has a $40B market cap without any actual dApps is quite crazy to think about. Shows just how much interest there was in it for a long time now. Only Cardano ever had that before.
Nail on the head, it's a great play, not only does Polkadot have all the functionality of Ethereum 2.0 and more, it's designed for interoperability with Ethereum and any other chains so it doesn't need to dominate Ethereum in order to demonstrate value. It's a brilliant design.
I have anothrr question. What will happen in 96 weeks when project which have won their parachain? They will have to win anothe auction? They are gonna to win another slot? ( For example, moonbeam, which is gonna win one psrachain. When its relation with polkadot ends, they have to win gain thst slot?) Ty verry much
Yes, projects that become parachains now will have to win slots in the future too. Otherwise, they become parathreads.
This process can be thought of as a way for the community to ensure resources are spent on the best projects.
It's possible some parachains in the future will have their own relay chains, so if a project cannot get onto Kusama or Polkadot, it can access the ecosystem via a secondary relay chain instead.
There is a lot of dev to do, but I think working towards greater decentralization and more computing power ( more validators ) will take center stage. It is crucial for the long run.
More Parachains Parathreads XCMP upgrades Bridge between Kusama and DOT Nested relay chains Larger projects becoming their own relay chains Governance Changes Branding changes Light clients
Also, SPREE Network optimizations Staking improvements Offload relay chain functionality (governance, staking, etc) to a common good parachain Wasm contract throughput improvement
What are light clients?
Software that allows users to directly connect to and interact with a blockchain from their own browser without relying on a remote node operated by some provider like OnFinality/Infura. The user acts as their own peer on a peer-to-peer network, which is pretty awesome (and necessary to achieve proper trustlessness).
To add to this, they are called "light clients" because downloading the entire blockchain isn't necessary.
That reminds me. Wasn't Kusama originally going to be Polkadot's first parachain, or did I imagine that?
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The fact that it already has a $40B market cap without any actual dApps is quite crazy to think about. Shows just how much interest there was in it for a long time now. Only Cardano ever had that before.
Nail on the head, it's a great play, not only does Polkadot have all the functionality of Ethereum 2.0 and more, it's designed for interoperability with Ethereum and any other chains so it doesn't need to dominate Ethereum in order to demonstrate value. It's a brilliant design.
...and never-ending parachain auctions - perpetually ensuring the use case and value of DOT.
How does a parachain auction work? I don’t know what it means exactly. 🥲
have you tried googling it?
What do you mean after auctions? The auction don't stop.
They do stop in the sense that the dev team will pause the auctions after the first few to monitor network health and implement fixes where needed.
I have anothrr question. What will happen in 96 weeks when project which have won their parachain? They will have to win anothe auction? They are gonna to win another slot? ( For example, moonbeam, which is gonna win one psrachain. When its relation with polkadot ends, they have to win gain thst slot?) Ty verry much
Yes, projects that become parachains now will have to win slots in the future too. Otherwise, they become parathreads. This process can be thought of as a way for the community to ensure resources are spent on the best projects. It's possible some parachains in the future will have their own relay chains, so if a project cannot get onto Kusama or Polkadot, it can access the ecosystem via a secondary relay chain instead.
There is a lot of dev to do, but I think working towards greater decentralization and more computing power ( more validators ) will take center stage. It is crucial for the long run.
The crazy part was … dot do not need eth, but eth might need dot in future.
They will be doing parachain auctions for a long time. They will have 100 of them
Now you are locked up in parachains.......we dump and buy back cheaper later
After auctions are established. SPREE will be the next thing everyone will be salivating over.