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How far is Polkadot's slot auction?

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Written by   14
1 year ago

After the official release of the Kusama network performance report and the first batch of parachain slot auction overview reports, Polkadot officially announced the time of the second round of Kusama parachain slot auctions and the issues that need to be resolved before Polkadot launches the parachain!

Kusama second auction schedule

The Web3 Foundation has released the performance and stability reports of Kusama and the current six parachains in the first two days. On the whole, the block production, approval and finalization of parachains are generally stable, and occasionally there will be temporary pauses in block finalization. But this problem will not affect the next second round of Kusama auctions, because the Kusama network itself is looking forward to chaos! However, these issues are under investigation, and solutions will be proposed after the next 5 Kusama auctions and before Polkadot auctions.

Based on this, Parity released the next batch of parachain auction arrangements:

The 6th Parachain Slots Auction will start at 20:00 pm on September 1st, China time. You can now unlock KSM in advance the week before September 1st.

The second round of auctions will last for 5 weeks, with a total of 5 auctions

In the same way as the first five auctions, the 6-10 auctions still start with a 2-day initial bidding period and then a 5-day end period

After this auction is over, the auction will still be suspended to observe network performance, and then the third round of auctions will be opened.

But the specific time to start the auction still needs to be decided by the Kusama Council!

When will Polkadot be auctioned?

Kusama's goal has always been to become a chaotic testing ground for supporting Polkadot technology. In the spirit of chaos, Polkadot's functions are first launched on Kusama, and then released on Polkadot. The code and incentive measures must be satisfactorily verified in the real environment of value-bearing before they can log in to Polkadot!

Because there are a lot of uncertainties in the real environment, even on Kusama, Parity is very cautious in every suggestion to start a parachain, but this experience will pave the way for Polkadot to start a parachain quickly and smoothly. The more stress tests there are on Kusama, the faster and easier Polkadot will launch a parachain.

Parity has built a fully functional minimum viable product (MVP) parachain software, which includes protocols for parachain block packaging, data availability, and security. Currently, two of the four agreements have been reviewed, and the remaining two are still under review. Therefore, Parity suggests that the parachain should be launched on Polkadot after the audit is completed, all the problems found are resolved, and there are no issues related to the parachain consensus on Kusama!

Although the official does not specify the launch time of the Parachain on Polkadot, we can make a budget based on the Lease time and the unlock time of the DOT! If counting from the creation of Polkadot, it has reached the end of the fifth Lease and will immediately enter the sixth Lease. Each Lease is 3 months long. If the auction starts from the 6th Lease, it means that there is now at most 7 weeks to start the Polkadot auction, because if 5 Leases are auctioned at a time, 3 months of Lease It takes 5 weeks to complete the auction process. We also add the DOT 28 days and 4 weeks to unlock, so if the auction starts from the 6th Lease, Polkadot will have up to three weeks (before September 10th) to announce the auction schedule, and 7 weeks later in October Polkadot's first auction will begin around the 8th!

But if you don’t start the auction from Lease 6 and start the auction from Lease 7 (around November 21st), there are two situations. One situation is that the auction may start at any time before November 20th, depending on when it will be repaired. The question mentioned, the time for this situation is not easy to estimate! There is also a situation where the auction occurs in the last 5 weeks before the end of Lease 7, and the latest is before January 9, 2022.

in conclusion:

If all goes well, the auction will start around October 8th at the earliest;

If the consensus issue is not resolved, it may be postponed to October 8-November 21;

If there are really important and difficult issues to solve, it may be anywhere from November 21st to January 9th (personally think this probability is very small, after all, Kusama has already started the second round of auctions, and the report also shows stability Run, there is no big problem)

The above is an objective estimate based on Lease time and unlock time, for your reference only, and does not represent the official opinion of Polkadot!

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Comments

Excellent, as Polkadot is evolving, what you are looking for is great stability in every environment and changes as you mentioned.

$ 0.00
1 year ago

yeah, look forward to Polkadot getting better and better

$ 0.00
1 year ago

Polkadot has promise and some good concepts under it but somehow it somehow always seems lacking, as if they are not all in on the promise. Decentralization could be an issue if not addressed, that being said it is a great sign of confidence if web 3 foundation at its back. Personally I am rooting for bot Polkadot and Cardano to be the major smart blockchains.

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1 year ago

Yeah, I hope that Polkadot can solve the problem of development and the ecology can develop smoothly.

$ 0.00
1 year ago

I really hope so :)

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1 year ago