When will Polkadot Split (Polkadot Series)?

08/18/2023 09:44 • Tech Ticker • 93 views

When will Polkadot split? On August 23rd, the Polkadot Council approved a proposal regarding the Kusama parachain slot auction. After the voting deadline, DOT will be upgraded from the original 10,000,000 to 20,000,000 and will start splitting into 10,000,000,000 (currently 5,000,000).

This means that without enough support and community backing, DOT cannot make any changes. Therefore, this decision will take some time to complete. However, if there has been a long period of staking (about a year and a half), then the new codebase can be implemented without much funding or development. But due to the high current inflation rate, we recommend not participating in governance. Once a block is finalized, it will not produce new content. To ensure this process goes smoothly, two new things can be created: the first is to add a token, and the second is called “increase” or “decrease.” Once these projects are successfully deployed, they will be automatically redistributed to all running nodes on the network and treated as a separate blockchain system for processing transactions. (Note: PolkaWorld has reported that Polkadot will hard fork Ethereum)

Polkadot Series

One of the most important projects in the Polkadot series is Polkadot (DOT).

In the past few months, Polkadot has made many critical updates and improvements. One significant change is that the Kusama Council passed a bill to remove the parachain slot auction from the Web3 Foundation, paving the way for a “Substrate-based new blockchain architecture.”

Kusama is a decentralized multi-asset payment network that provides a trustless way to transfer value and store digital goods or services on the blockchain.

With more and more institutional participants joining this ecosystem, we can expect a fully community-owned network to be launched on Polkadot in the coming weeks. This network will be the first platform capable of exchanging tokens and NFTs in a distributed manner.

The main team behind Kusama comes from smaller cities such as Boston, Colorado, New York City, and Wyoming. However, as these cities are considered global and established under support that does not rely on governmental power, they are gradually developing.

Therefore, “public interest” represents all the issues that need to be considered. To achieve this goal, they decided to create a mainnet called “Polkadot” – the so-called Polkadot native network without any permissioned chains – because they are not entirely controlled by the users, and they usually do not integrate with the mainnet. For example, PolkaBTC is a cryptocurrency used to build the ERC-20 token standard.

Kusama is one of the most liquid and secure markets in the world. It is part of an independent project developed based on the Polkadot development framework Substrate, which makes it run more efficiently and provide scalability.

Kusama gained popularity as a new category of multi-assets emerged and has been supported by many major crypto companies: Blockchain.com, Bloqport, and ConsenSys.

However, Polkadot has not yet released information about its features, but there have been several significant developments. First, we can see from the Q1 2021 report that there have been approximately 1 million transactions since November 2020, with a total value of about 3 million US dollars. (CryptoPotato)

Although Polkadot is still the first blockchain to truly utilize smart contract technology, its codebase is not complete. Additionally, Polkadot has been committed to addressing some of the problems faced by blockchain technology:

1. Inter-Blockchain Communication (IBC): Allowing different data sources to communicate without intermediaries;

2. Validator Management: How does Polkadot’s consensus mechanism and governance work?

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When will Polkadot Split (Polkadot Series)?

Polkadot Series

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