Polkadot Plots End to Parachain Auctions, Here’s The New Plan

Godfrey Benjamin
November 25, 2023
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Polkadot (DOT), the layer-1 Proof-of-Stake (PoS) protocol that has thrived on parachain auctions since its inception has now unveiled plans to sunset this scheme moving forward.

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From Polkadot Parachain Auction to What?

The plans to replace Parachain auctions with a new system were confirmed by Pierre Aubert, the new VP of Engineering at Parity Technologies, the startup behind the Polkadot protocol. The Google veteran said he aligns with the protocol’s vision that will be packaged in what might be called Polkadot V2. 

Per the plans, Parachain Auctions will be replaced with Agile Coretime or Bulk Coretime and set the stage where Polkadot can truly bridge to Ethereum. The protocol will also form a direct connection with its canary chain Kusama. Aubert said the roadmap for Polkadot in the next 6 months is to introduce features that can boost the user experience of the protocol as presented in the Agile Coretime.

The tech genius said the focus for Polkadot now is hinged on enhancing developer experience and one of the ways it plans to achieve this is via the proposed Polkadot API. This tool, he said, will make things easier for developers creating dashboards.

The Parachain auction model that has seen the likes of Moonbeam Network and Astar Network launch on the network is considered a revolutionary approach to running sidechains. The system involves members of the community rallying around the protocols vying to be added to Parachain and rewarding their participation with the parachain’s native token upon launch.

Notably, the exact modalities of the Agile Coretime and Bulk Coretime are still under design but upon launch, it is bound to depict the ease of evolution that characterizes Polkadot.

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Protocol Evolution, the Pride of Blockchains

There is an underlying feature that characterizes blockchain protocols and that is the ability to easily evolve.

This feature was pronounced when Ethereum transformed from being a Proof-of-Work (PoW) blockchain to a Proof-of-Stake (PoS) through The Merge. This transition was historic as it greatly reduced the energy consumption of the blockchain and ultimately made it environmentally friendly.

Shiba Inu (SHIB), the dog-themed memecoin also changed its underlying vision when it launched Shibarium, its Layer-2 scaling solution. With Shibarium, it hoped to attract innovative decentralized applications that can transform the fortunes of Shiba Inu in the bid to reach the ultimate price of 1 cent.

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Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
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Why Trust CoinGape

CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.

About Author
About Author
Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture. Follow him on X, Linkedin
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.