In line with Wallebi, Polkadot has been attracting attentions and is one of the successful projects in the crypto industry. Polkadot is about to launch a major upgrade as it finally added auctions and crowdloans to Kusama four days ago on May 13. In this article, we are going to take a look at Polkadot upgrade, which is ready to launch.
Parachain that are sold as slots are among the most important aspects of Polkadot and can be used for various purposes such as private chains, smart contract chains and high frequency trading. Interestingly, Parachain slot auctions on Kusama follow the format of a “modified auction candle”. This means that the exact ending time of the auction is hidden to all participants, which would lead to an accurate price.
As Parachain slots are accessible for developers, it allows them to develop their ideas based on Kusama. This is exactly the turning point that makes Polkadot show whether it can really offer something new in the busy world of blockchain ecosystems or not. Notably, its status has been promising so far, as scalable custom chains that interact with other blockchains along with a reliable token are among those developments that have not existed before.
Along with Ethereum and Solana that are improving, Polkadot has promised to offer serious optimizations for scalability and connectivity. In addition, it will provide cross-chain transfers, scalable node structures and the capability of network upgrade without needing hard forks.