Project Polkadot Announces Launch of Phase 5 Modernization of Parachain Function
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Answer Project Polkadot Announces Launch of Phase 5 Modernization of Parachain Function
Gavin Wood, Founder of the Polkadot and Kusama Project announced in an official blog today that the Polkadot mainnet is about to start Phase 5 which is the final stage of Polkadot where decentralization and expected features will be achieved at the end of July 2021.
The core developers will launch the “parachain” functionality, auctions and crowdfunding behind them.
The gradual launch took over 10 months to complete the first four phases.
Polkadot is a heterogeneous and scalable multi-blockchain network, so far it is in the form of a single independent chain.
With the launch of the Parachain function in the fifth stage, the ultimate vision of the heterogeneous Polkadot system will become a reality.
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Last week, Parity Technologies (the core team behind the development of the initial implementation of Polkadot) released version 0.9 of Polkadot running on the Kusama blockchain.
came in Official Blog For “Polkadot” the following:
Kusama has already been upgraded to the logic included in this version (v9010) so it is now finally ready to host a “parachain”.
Wood did not indicate the exact time of the release of “parachain” Polkadot, but said that these two things must be done first before that, namely:
The first is the need for a comprehensive external review of the new releases of Polkadot and Kusama Network, and the second is the need to successfully conduct at least one auction involving group coupons and hosting at least one functional parachain.
Wood added:
Over the next two months, efforts will be directed towards reliability, rebuilding and performance.
According to Coinmarketcap, Polkadot (DOT) is the eighth largest cryptocurrency, with a total market capitalization of $38,799,552,557 today.
Read:The founder of Ethereum praises the allocation mechanism before upgrading the merge…Here’s what he said!
DOT Polkadot is up 0.54% in 24 hours and up to 8% in a week.
At the time of writing this article, DOT is trading at $41.47.
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