Polkadot Lays Out Its Plans for Parachain Rollout as the Token’s Price Climbs – Altcoins Bitcoin News

The price of Polkadot’s native token hit an all-time high (ATH) this week, soaring above $30, as the company laid out the next steps of its plans and the systems to finalize the network launch.

Polkadot Roadmap Outlines Layer 0 Deployment Initiatives

Polkadot released a roadmap highlighting that it is currently in its Rococo phase, the first of three major phases until the network goes live.

Here is a breakdown of the roadmap.

Rococo Testnet Rollout

Polkadot (DOT) plans to continue with its launch of parachains, also referred to as application-specific data structures. These parachains, just like with parathreads, are what will allow Polkadot to pair with other more established networks, such as Ethereum and Bitcoin, through a mechanism called Cross-Chain Message Passing-lite.

Polkadot is still in the Rococo phase of testing its parachains. Once the code is evaluated and approved, we can expect to see Polkadot submit its vote via onchain governance to power the parachains and slot auctions on Kusama.

Kusama Rollout

The scalable multi-chain network, Kusama, is what Polkadot says will serve as an “additional proving ground” for parachains. It’s effectively a sandbox designed to support further testing and network effects before launching on Polkadot. Its looser parameters allow developers to test new ideas while also helping gain visibility amongst community members.

Enabling parachain functionality will ultimately fall down to a vote by Kusama governance. Should the rollout be approved, non-permissioned candle auctions will be used to allocate 100 parachain slot leases. Polkadot emphasizes that users can expect a new auction “roughly every two weeks,” with more set to come available as each lease expires.

Polkadot Slot Bidding

The slot bidding involved in parachain offerings plays a significant role. Rather than using the initial coin offering (ICO) model, which can be (and was) easily exploited due to the limited…

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