Polkadot Sets Date for Hotly Anticipated Parachain Auctions

Posted on by American Coins & Gold

Polkadot Sets Date for Hotly Anticipated Parachain Auctions
The much-anticipated parachain auction process, where projects are allocated slots for building on the Polkadot cryptocurrency network, kicks off next month.The first of the auctions is slated to begin on Nov. 11, according to the Polkadot Council. A proposal was submitted to the governance forum minutes ago.Stepping back, the parachain auction process is an important milestone in realizing Ethereum co-founder Gavin Wood’s vision for an interconnected blockchain framework. (Parachains have already been running successfully on Polkadot’s already-live “canary” network, Kusama, with 11 parachain slot auctions taking place since the launch of Statemine on June 3.)“Almost exactly five years after the…