Is MoneyGram doing away with itself?


The Polkadot ecosystem wants to take it to the next level and is extensively expanding Kusama (KSM) and the test network Westend.

While Ethereum is climbing one all-time high after another, Polkadot (DOT) has barely risen in price in recent weeks. But that could change soon. Polkadot wants to enable cross-blockchain transactions, a scalable network and the flexible updating of blockchain networks. However, there are currently no decentralized applications that can be used in the Polkadot ecosystem. This is mainly due to the fact that parachain auctions have not yet been possible – but that has now changed.

From a published May 13th Reddit post shows that the code for parachain auctions and crowdloans is now available. At first you can only do this on Kusama (KSM) and the DOT test network West end use.

Polkadot ecosystem wants to take it to the next level

Parachain auctions and crowd lans give DOT projects the opportunity to finally prove their ambitious goals in practice. Parachains are needed to create privacy chains or smart contract applications in the Polkadot ecosystem. Projects that initially develop on Kusama before expanding to DOT now have the opportunity to secure such a parachain slot. To do this, they have to take part in the Parachain auctions and win them. Here you can find out how these parachain auctions work, what crowdloans are and how you can benefit from them as an investor.

The developers now have the opportunity to work out their ideas on Kusama and the Westend test network. The next few weeks could show whether the Polkadot ecosystem is really able to keep its promises and revolutionize crypto space.