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Polkadot has launched parasites

Polkadot has launched parasites

Polkadot has launched its first five parachains, starting blockchain's journey toward becoming an interoperable ecosystem, according to Cryptobriefing. Polkadot has been running parachain slot auctions since Nov. 11. Projects hoping to win a slot raised crowdfunding credits to attract DOT and bid the resulting tokens in parachain slots. The first five auction winners were Acala, Moonbeam, Parallel Finance, Astar and Clover – projects focused on decentralized financing, interchain interoperability and other use cases. Each project now has a parachute lease until Oct. 20, 2023.

Acala, a project focused on creating a DeFi hub on Polkadot, is one of the most anticipated parachain to be deployed online. Project co-founder Bette Chain said of the launch: “We're looking forward to launching Acala ParaChain to bring the DeFi platform and our own decentralized Stablecoin to the Polkadot ecosystem and beyond”. Polkadot – is a smart contracts blockchain that will host up to 100 parachains. Founded by former Ethereum CTO Gavin Wood, the company specializes in providing interaction between application-specific parachains. Parachains are anchored by a main central Polkadot chain called the Relay Chain. Parachain slots are auctioned off to teams for 96 weeks.

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