Major protocol upgrades are one of the most potent sources of price movement for cryptocurrency projects as community members and investors get excited about new features and traders to rush in to buy the rumor and sell the news. One protocol that has seen its price rise to new heights this week, despite the overall bearish conditions affecting the market, is Kusama (KSM). And then, Kusama is ready for the rollout of parachains on the network.
Kusama, sister chain to Polkadot’s platform, is ready for the rollout of parachains on the network
Kusama (KSM) is an experimental blockchain platform and a sister chain to Polkadot’s platform. Kusama is designed to provide an interoperable and scalable framework for developers.
According to the blog post, Polkadot and Kusama creator Gavin Wood said that Polkadot is entering the fourth and final phase of the mainnet launch, which includes the implementation of parachains for the Kusama network. Furthermore, the development branch behind Polkadot, Parity Technologies, has released an upgrade – Polkadot version 0.9 – for Kusama, which is now finally ready to host parachains.
“The launch of the parachains would proceed following a full external audit on the new version of Polkadot and Kusama executing at least one successful auction involving crowd loans and hosting at least one functional parachain in the wild.”
He did not provide a specific timeline but added he expected the audit to be completed soon, with the Kusama website specific the first of five auctions one week in advance.
“After Kusama’s first auctions complete successfully, one would expect Polkadot’s auctions to happen soon after.”
The implementation of the Polkadot protocol has been underway since August when the project launched the Rococo testnet to evaluate the planned implementation of sharding based on parachains. Some expected the parachains deployment to happen in the first quarter of 2021, but there are reported issues with the Rococo testnet stability – for example, one of its parachains appears to have already died. stuck for more than a day.
As AZCoin News reported, the most significant development for Kusama when the project announced that the most recent upgrade proposal was approved by the council and is now a public referendum.
This development provided token holders a three-day window between Wednesday and Friday to vote for the different parachains, crowd loans, and auctions that they want to see on the Kusama network. Since KSM tokens are required to be able to participate in voting, demand for the token immediately increased following the announcement, and it continues to rise on Friday despite an overall downturn in the cryptocurrency market.
At the time of publication, Polkadot’s DOT price is $40.1, up more than 9% over the past 24 hours.
Source: AZCoin News