Polkadot Overhauls Parachain Auctions for Enhanced Connectivity

Polkadot (DOT), a layer-1 proof-of-stake (PoS) protocol that has flourished on parachain auctions since its inception, aims to discontinue this approach.

A new system will replace Parachain auctions, according to Pierre Aubert, the new VP of Engineering at Polkadot protocol company Parity Technologies. The Google veteran said he supports Polkadot V2’s protocol goal.

Parachain auctions will be replaced by Agile Coretime or Bulk Coretime to enable Polkadot to connect to Ethereum. The protocol will also connect to Kusama, its canary chain.

Aubert said Polkadot’s 6-month strategy is to include Agile Coretime-recommended functionality to improve the user experience. Polkadot’s tech mastermind says it wants to improve the developer experience with the Polkadot API.

This technology will simplify dashboard development, he claimed. Moonbeam Network and Astar Network use the groundbreaking parachain auction technique to run sidechains.

Community members organize behind protocols to be added to Parachain and receive the parachain’s native coin upon launch.

The Agile Coretime and Bulk Coretime are still being designed, but they will show Polkadot’s simplicity of evolution. Blockchain protocols can quickly develop.

This feature was pronounced when Ethereum switched from PoW to PoS during the merger. This shift was historic because it greatly lowered blockchain energy use and made it green.

After launching Shibarium, its Layer-2 scaling solution, dog-themed memecoin Shiba Inu (SHIB) revised its vision.

Shibarium aimed to encourage new decentralized applications that could change Shiba Inu’s fortunes to reach 1 cent.