The first parachain reaches the Kusama network. With the test run, Polkadot is moving into the final development phase on the way to the multi-chain environment.
After the launch of the new Polkadot version 0.9 last week, which contains the code for the use of Parachains and Crowdloans, the network has taken another step towards Parachain functionality and slot auctions via Crowd Loans. The first parachain reaches the Kusama network as if from one Blog post emerges. The governance was therefore in favor of the first shell parachain, a kind of empty test parachain that only produces blocks but does not contain any applications.
The shell chain can then be updated to the statemine parachain. Statemine is a “Common good parachain“, Through which all assets such as fungible tokens, stablecoins, digital central bank currencies or NFT can be processed. “If approved by governance and used successfully, Statemine will be the first parachain to be launched in the broader Polkadot ecosystem, with auctions starting soon on Kusama,” said the press release received by BTC-ECHO.
Phase five for polkadot
Polkadot is moving into phase five, the final phase of the introduction of Polkadot, explains founder Gavin Wood. With the Parachain functionality, “the final vision of a heterogeneous sharded system will soon become a reality,” says Wood. After the Parachain model on Kusama has passed an extensive audit and has “carried out at least one successful auction with crowdloans and hosted at least one functioning Parachain”, Parachains can also be connected to Polkadot.