Polkadot: Development plan for full launch sets new all-time highs
There is now a clear plan for the launch of Polkadot, but problems with the testnet are probably still causing delays.
The Polkadot project on Monday released a detailed development plan for the highly anticipated launch of parachains and slot auctions. This would complete the launch of the protocol.
The development plan is divided into three main stages. The current stage is the Rococo Testnet environment, where developers can test mechanisms to communicate between different Polkadot parachains, the shard analogue. The Bitcoin Bank platform uses a mechanism called Cross-Chain Message Passing-lite, or XCMP-lite for short. This allows the parachains to send tokens and generalised messages to each other that go through Polkadot’s relay chain, the central coordinator of the network.
The Rococo testnet was launched in August 2020, but the component functions are not yet fully finalised. Once details such as dispute resolution and voting are fully developed, the Polkadot code will finally have all the functions.
However, this does not yet mean that the parachains will also be implemented. The next step is to vote on the release of parachains on Kusama, Polkadot’s „canary network“. Kusama can be seen as a middle ground between a testnet and a mainnet, which has a higher tolerance for experimentation but still has real economic value.
Once the parachains on Kusama are stable and all testing is complete, an on-chain vote will be triggered on Polkadot to introduce parachain auctions.
There is no indication of the exact timelines for these milestones. Representatives from Polkadot have not yet commented on this when asked.
Nevertheless, the rollout of Parachains was expected by many people in the first quarter of 2021
There also seem to be problems with the stability of the Rococo test network. One of its Parachains is stuck on block 1036, for instance. The timestamp shows: Monday, 21:00 UTC. A GitHub pull request titled „New Genesis“, which goes back to a deleted branch called „Bkchr-rococo-nuke-187“, suggests that there has been a significant stability incident with the testnet. Alex Melikhov, the CEO of the possible Polkadot parachain Equilibrium, told Cointelegraph that the project is „optimistic about the timeline for the launch of Polkadot parachain“, even though „recent updates to the Rococo testnet indicate the need for further changes to the technology“. He also gave a preview of the possible timeline once the Kusama launch is completed:
„Given the duration of one month until Polkadot is deployed, which Gavin announced at the time, we expect to launch DOT auctions fairly soon.“
Meanwhile, Polkadot’s DOT token has hit new all-time highs. The token rose 10 per cent to reach over US$30 on Tuesday. It thus put in a rally from US$9 at the start of 2021. The token is now in a battle for fourth place by market cap with Cardano ADA. Shortly before, it clearly outperformed XRP.