Your top contenders for a Parachain slot (Polkadot)

  • Your top contenders for a Parachain slot (Polkadot)

     ArtReYou updated 1 month, 1 week ago 2 Members · 2 Posts
  • Are

    Organizer
    2021-03-15 at 7:07 pm
    MT Roids 30986 Roids
    Level 31

    The wide release of the Polkadot ecosystem is almost upon us. At the moment there are only 100 slots available for projects to get “in”, meaning securing a slot on the Parachain.

    Polkadot summarised:

    • Polkadot is a smart contract compatible blockchain that launched in May last year. Polkadot’s core blockchain is called the Relay Chain which uses a proof of stake consensus mechanism.
    • The Relay Chain itself does not support smart contracts and only handles a handful of transaction types, namely those related to staking.
    • Polkadot gets its smart contract functionality from the additional blockchains which plug into the Relay Chain. Up to 100 parachains or parathreads can connect to the Relay Chain

    If you want to read more about Polkadot: https://coinmarketcap.com/alexandria/article/a-deep-dive-into-polkadot

    And if you want to dive even deeper, the whitepaper: https://polkadot.network/PolkaDotPaper.pdf

    Parachain slot auctions explained:

    • Because of the limited space on the Relay Chain, Parachain Slot Auctions were invented to ensure these go to the most promising projects.
    • Instead of determining the winner based on their bid at the end of an auction, the winner is picked based on their bid when a random snapshot of all bids was taken during the auction.
    • These bids are made in DOT and are returned at the end of the Parachain lease period. Projects can either bid DOT themselves or have their communities’ loan them the DOT they need for the auction.

    Now my question for you guys: Which projects are most likely to secure a Parachain slot? Those projects and their token will most likely see some nice gains if chosen.

    My 3 contenders would be:

    I’m quite eager to hear what you guys think, because there are a lot of promising Polkadot projects.

  • ArtReYou

    Member
    2021-03-15 at 8:10 pm
    MT Roids 60325 Roids
    Level 60: Heliopause

    Litentry – because i got some 🤗 Thx @Solo again..

    • This reply was modified 1 month, 1 week ago by  ArtReYou.
    • This reply was modified 1 month, 1 week ago by  ArtReYou.

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