The creator of Polkadot and the Kusama network, Gavin Wood, confirms the launch of the long-awaited parachains, the equivalent of the sidechains of blockchains such as Bitcoin and Ethereum.
In a publication recently shared, Gavin Wood, Creator of Polkadot y Kusama and also an Ethereum developer, points out that Polkadot is about to enter a new stage, with the soon activation of parachains functionality in the blockchain Kusama. Wood stated that the launch of parachains, auctions and collective loans is very close, after 10 months of continuous development on the network.
The launch of parachains is the fifth and final stage of Polkadot's development, Wood explained, noting that this will allow users to have a highly efficient blockchain, capable of guaranteeing complete decentralization, which does not require any kind of permissions. .
Polkadot began its development in July last year, with a team of developers willing to build a highly scalable, decentralized and inclusive network, with open governance where anyone can participate and be rewarded.
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The transition from an “isolated” blockchain
As Wood explains in his post, although Polkadot's goal is to be a highly scalable, interoperable, decentralized, accessible and inclusive blockchain, until now it has existed and behaved as an isolated chain. However, with the launch of parachain functionality, this reality is about to change, and the final vision with which the development of Polkadot began, of being a heterogeneously fragmented system, is about to become a tangible fact. for its crypto community of developers and users.
Parachains are a type of blockchain, equivalent to sidechains or side chains that develop into networks such as Bitcoin y Ethereum, but that have specific functionalities developed in Substrate on the Polkadot blockchain, which allow us to satisfy or solve a specific need in the industry.
The Polkadot team of developers had announced that parachains would open a new path to blockchain technology, where each blockchain will be specifically designed to fulfill a particular function, and provide solutions tailored to new needs and projects. that they believe in the industry in the future. Polkadot seeks to leave behind generic blockchains that perform several functions at the same time.
Version v0.9 is now available
Parity Technologies, the company responsible for the development and initial deployment of Polkadot, released version v0.9 of Polkadot last week. Wood explains that the arrival of this new version means “a big step forward” in the development and construction of Polkadot's goals.
Polkadot v0.9 includes the logic necessary to implement parachains on the blockchain network; In addition, it also includes the final logic for running the auctions and crowdloans that can be used to finance the auction bids.
The developer explained that Kusama has already been updated to support the new version and the logic contained in it, so this network is finally ready to host Polkadot parachains. Kusama is an independent and autonomous blockchain network, built on similar foundations to Polkadot, but designed to be faster and with lower barriers to entry. This allows developers to build and test different applications, enjoying a bold development and experimentation experience appropriate for early-stage deployment, prior to their entry into Polkadot, which is a much more conservative blockchain.
Launch: Audit and successful test
Although Wood did not indicate any specific date for the launch of the parachains, he assured that Polkadot is entering its final development phase and that with the new version Kusama is already prepared for this innovation. However, the activation will not be done until the audit phase of all the new logic is completed and a successful test has been carried out, of at least one auction involving collective loans in a functional parachain, in Kusama.
On the other hand, the developer team plans to direct its efforts to optimize reliability, refactoring and network performance in the next two months. The transaction volume that Polkadot executes is currently limited to minimize the likelihood of systemic issues; However, as the code becomes faster and more robust, these artificial limits will be lifted and transaction volume will increase towards its theoretical limits, in order for the network to reach its true potential, Wood explained.
A few days ago, Polkadot integrated several important updates, to provide new improvements to the scalability and connectivity of existing solutions. With its parachains, Polkadot seeks to create specialized blockchains that compete with Ethereum, the blockchain of decentralized applications and smart contracts par excellence, where a large number of protocols are developed DeFi.
At the time of this writing, DOT, the digital token, native of Polkadot, trades with a value of $40,5 per unit, and its capitalization is more than 40.300 billion dollars, which places it in eighth place among the most important cryptocurrencies on the market currently.
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