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Polkadot is about to drop parachain’s slot auctions for a new mechanism that allows application developers to rent block space as needed.<\/p>\n
Polkadot is about to undergo a major shift, Fabian Gompf, Web3 Foundation’s new chief executive officer said in an interview.<\/p>\n
Polkadot’s parachain system, “will fundamentally change at the end of this year, beginning of next year,” Gompf told The Defiant in the first interview he’s done since becoming CEO. <\/p>\n
The upgrade “allows to allocate block space, allocate the resources of parachains, to whatever you can code on top of them,” he said.<\/p>\n
The latest estimates<\/a> provided on the Polkadot governance forum have the upgrade, called Agile Coretime, launching on the Rococo testnet by the end of the year, with deployment on Kusama by Q1 and finally a mainnet launch on Polkadot on Q2. <\/p>\n <\/a><\/p>\n The change is part of Polkadot 2.0, a vision first laid out<\/a> by the blockchain’s founder Gavin Wood in June at Polkadot’s Decoded conference. <\/p>\n Gompf was a member of the Web3 Foundation\u2019s Supervisory Board and previous to that he was VP of Ecosystem Development at Parity Technologies. <\/p>\n Parity Technologies develops the Polkadot blockchain, while the Web3 Foundation oversees ecosystem growth via funding, advocacy and research.<\/p>\n Blockchain applications need access to blockspace to run code and store data. Currently, apps on Polkadot need to participate in auctions to control parachains and temporarily use block space. <\/p>\n With the agile coretime upgrade, builders will be able to reserve block space in bulk or access it instantly, depending on their needs.<\/p>\n Start for free<\/a><\/div>\n “We depart from the classic lease auctions and propose an agile marketplace for coretime, where essentially coretime becomes a commodity that can be tokenized, sold and traded,” according to Polkadot documentation<\/a>.<\/p>\n Polkadot only has $136M in total value locked, compared with $24.6B on Ethereum, according to DeFiLlama. Its native token, DOT, is up by 3.6% in the past three months, versus ETH’s 14% gain. <\/p>\n Gompf is betting increased funding will boost activity. <\/p>\nAgile Coretime<\/h2>\n
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$45M Grants Program<\/h2>\n