The company considers Kusama’s unabridged system a tool for experimentation and early-stage deployment. The Kusama project, which has faster governance parameters and lower entry barriers, is also a standalone, independent network. The Kusama network is already running the upgraded logic for parachain-hosting, Gavin Wood announced today - meaning, the rollout of parachains on Polkadot is very close to launch. The canary feature (think “canary in the coal mine”) helps the development team uncover any major concerns before they’re launched on the mainnet. Polkadot was birthed from precursor project Kusama in 2019 as an unaudited canary network. Wood and Jutta Steiner, former head of security at Ethereum, also co-founded Parity Technologies, which was tasked with continuing Polkadot’s development. With Polkadot’s creator Gavin Wood announcing the launch of parachains in a blog post today, the final phase in Polkadot’s rollout is now underway. DOT, its native token, became a top 10 cryptocurrency within only a few months of Polkadot’s launch. In the current universe of over 4,000 cryptocurrencies, Polkadot’s rise has been stratospheric. This is where new rivals like Polkadot come in. However, a growing number of projects are being squeezed out by the Ethereum network’s congestion and high gas fees. This led to the rise of Ethereum and its more flexible network.Įthereum didn’t only bring about a decentralized system where numerous applications could be built and run without intermediaries it also created an ecosystem where value could be transferred more flexibly via smart contracts. In a blockchain ecosystem dominated by Bitcoin and Ethereum, Polkadot - which launched only a year ago last May - is already establishing itself as a next-generation blockchain.īitcoin’s capability for facilitating value transfer without a central authority faced limitations in scaling and interoperability.
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