When it comes to blockchains, it is already pretty obvious that there won’t be any major one “to rule them all”. Instead they would specialize, leveraging their differences.
In such a world, however, these blockchains would have to interact, and that’s exactly what Ethereum co-founder Gavin Wood had in mind while presenting Polkadot whitepaper 5 years ago. Polkadot is a multi-blockchain framework with a complex structure where different chains run in parallel (they are called “parachains”) and speaking to each other.
After years of development Polkadot is now closer than ever to its effective launch.
In June the parachains went live on Polkadot’s “free and wild” cousin Kusama – a slightly different network conceived for testing projects before releasing them to the more risk-averse Polkadot.
This week the Polkadot Council (its governance body) scheduled on November 11th its first-ever parachain auction, where projects can bid on slots for building on Polkadot.
Web3 is approaching ✨