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In the past month or so, Polkadot has made rapid progress. It announced the parallel link diagram, released Substrate 2.0, and realized the transfer of assets between parachains for the first time. As a big hit in the cross-chain field, Polkadot’s performance is all impressive. Surprise.
Below we analyze one by one.
1. Polkadot releases parachain circuit diagram
On September 16, Polkadot officially released the parallel link diagram. For this, Cao Yin, managing director of the Digital Renaissance Foundation, highly appreciated this. He believes that Gavin has achieved all the bulls he has blown step by step. Not only that, but it was over 200% completed.
Polkadot’s parallel chain circuit diagram is divided into 3 stages, respectively stage 0/1/2.
Stage 0 is the “MVP”, which is also the initial stage. At this stage, the parachain has no information and cross-chain, which is essentially the registration and verification of the normal operation of the PoC.
Phase 1 is “phishing and slashing”. This phase is a major improvement in the security of parachains. Once completed, parachains are mature cryptoeconomics and a secure summary primitive . This phase also includes the implementation of XCMP, but still Not fully enabled. In other words, your assets will become very safe when placed on the parachain.
Phase 2 is “messaging”, this phase marks the official completion of the information cross-chain, and the completion includes almost all the remaining content of the XCMP part. The XCMP inside the circle in the figure below is responsible for the cross-chain information exchange between parachains, which is very important.
We see that after the three stages are completed, all functions can be realized between parachains, such as asset cross-chain, information cross-chain, cross-chain interaction, and so on.
2. The Polkadot Network successfully transferred assets between chains for the first time
On September 13th, Polkadot founder Gavin Wood tweeted that using the new XCM grid protocol, the first successful inter-chain asset transfer on the Polkadot network has been achieved.
We know that Polkadot’s main application scenario is cross-chain information transmission. If cross-chain information transmission is realized between parachains, then assets and interactions will be no problem.
However, the cross-chain of assets here should be of a test nature, and it may take time to be applied on a large scale, but all that should come back sooner or later.
In addition, more than a month ago, Acala co-founder Bryan Chen tweeted that he could already transfer assets between the relay chain and the parachain.
This shows that the Polkadot ecology is gradually becoming mature.
3. Release Substrate 2.0
In the early morning of September 23, Beijing time, Parity Technologies released the second edition of the blockchain toolkit Substrate v2.0.0-two dot, which is called Substrate 2.0 by the media.
First, let’s explain Substrate 2.0, which is a toolkit specially prepared for developers to facilitate developers to quickly deploy their own blockchains according to their individual needs and business logic. Use Polkadot as these blocks. The communication layer and economic layer of the chain.
The Parity Technologies mentioned above has led the development of Polkadot, and its larger goal is to deploy a Web 3.0 network based on multiple blockchains.
Well, the background knowledge is introduced.
According to public information, Substrate 2.0 has added some core functions. This update is mainly for runtime, client, API and Runtime Migrations, including allowing the setting of reward destinations for any account as collateral, updating the task Grafana dashboard, libp2p client update, grandpa-rpc api update, etc.
The updated Substrate 2.0 mainly includes off-chain workers and more than 70 combinable modules. Its significance is to lay a solid foundation for building an optimized, Polkadot-compatible, and production-ready blockchain.
1) Important functions: add more than 70 combinable modules
Among them, the “more than 70 combinable modules” deserves the most attention. This combined module allows blockchain architects to easily implement various design ideas. Just like Lego bricks, you can find the modules you want to achieve.
The specific functions implemented include 1) managing developer funds on the chain; 2) allowing smart contracts on the Substrate-based blockchain to communicate with the Ethereum Virtual Machine (EVM) and so on.
2) Important function: off-chain workers
Substrate 2.0 also includes the so-called “off-chain working machine”, which is a module that assists in uploading off-chain data. These off-chain workers can reduce the burden of dedicated nodes on the network in processing intensive processes and massive data sets, and communicate with the main chain to ensure that all network participants automatically maintain synchronization. This is a bit like Bitcoin’s Lightning Network. When the main chain is congested, the “off-chain working machine” supports off-chain processing of transactions.
In addition, these off-chain working machines can upload real-world data (such as price or temperature) to the chain to solve what we usually call the “oracles problem”, “applicable to IoT devices or off-chain data input through oracles. mechanism”.
A blockchain-based Internet of Things is slowly rising.
4. Polkadot has established a decentralized platform Polkadot Treasury (Polkadot Finance Ministry)
According to news from Cryptopotato on September 18, a few months after the launch of the mainnet, Polkadot has established a new decentralized platform to fund the project. The platform is called Polkadot Treasury, the Polkadot Ministry of Finance, which will be elected by the community. Management of the resulting board members. At present, some teams have submitted proposals to the Ministry of Finance.
At present, some teams have submitted proposals to the Polkadot Ministry of Finance to apply for financial support.
On September 18th, the first projects to apply for financial support from Polkadot Treasury include Redspot (aim to simplify the testing and interaction of smart contracts on the chain), Centrifuge (a supply chain finance blockchain project), Go Substrate RPC client, and Polkascan (Browser and its necessary infrastructure deployment projects) and Encointer (Autonomous Identity System).
In addition, officials stated that anyone holding a DOT can submit a proposal for funding from the Ministry of Finance and will be approved based on their ability to “generate traction on the network.” Proposals can involve infrastructure deployment, network security operations, ecosystem regulations, software development, marketing activities, and community and outreach activities.
Proposals must be submitted on the Polkadot blockchain, but in order to minimize on-chain storage, they will not contain any contextual information.
In order to avoid submitting low-quality or spam proposals, a deposit of 100 DOT or 5% of the total submission amount is required for each proposal submission. If their proposal is approved, the deposit will be returned to the user; if rejected, the deposit will be destroyed.
If the project is good, apply for financial support.
5. Kusama Parachain Auction will be conducted before Polkadot Parachain Auction
According to official sources, on September 23, a community member asked when will the Polkadot Parachain slot auction start?
In response to questions from the community, Polkadot founder Gavin Wood replied on September 23 that the Kusama Parachain auction will be conducted before the Polkadot Parachain auction. It doesn’t make sense to start the auction before we are ready to actually host the parachain on Kusama/Pokadot.
Let’s first come to popular science, why the community is so concerned about the Parachain slot auction. This is because, for all parachains that want to link with the main network, “slots” or “chain slots” are a must. The bidding is to buy this. Since the number of chain slots is limited, whoever bids the higher price (KSM), If there are many supported coins (KSM), whoever can get this chain slot.
According to Jarvan’s description, before the parachain bidding, the main obstacles are as follows:
1) Parachain code needs to be upgraded from Rococo v0 to v1. This work is currently in progress and may take several weeks. The v1 version is the basis for some important future features (including availability and effectiveness, XCMP and parallel threads, etc.).
2) Cumulus needs to be upgraded to match parachains v1 and xcmp-lite, and stabilized (this is also an important stability test site for Rococo).
3) The ultimate security (through availability and effectiveness) of the parachain needs to be fully implemented and audited (for Polkadot).
4) The auction module also needs to be audited (for Polkadot) (this takes 1-2 weeks, but it is unlikely to become a bottleneck).
Therefore, there is no fixed date for the auction of slots, because it does not make sense to start the auction before the technical foundation work is completed. However, whenever an important milestone is completed, we will continue to update the progress.
It is a major event in the Polkadot ecology for a period of time. Although the time is undetermined, the next development work is basically around this.
The above is the change of Polkadot’s ecology in the past month.