Everyone knows, I’m an Ether head.
Smart contracts are smart.
DeFi is beautiful & NFTs are game changers.
You don’t see me branch that far out of the Ethereum ecosystem, as I learned my lesson
trying just that in 2017, with the “Ether” competitors back then.
I looked at EOS, talked about IOTA, covered Tezos, and regrettably liked NEO.
BIG mistakes, as all of these are still ghostly chains to this day….even in the hype of
a bull run!
Don’t do like I did, and give up the ghost.
Because it’s time for Chico Crypto!
But that doesn’t mean all ETH “competitors” are bad...there has been a certain one building
with ETH in mind from the beginning.
That is Polkadot!
A little history lesson.
The founder of Polkadot, Gavin Wood, is also one of the core founders of Ethereum and it’s
first “CTO” chief technical officer.
Here are the two, Gavin and Vitalik, presenting Ethereum, in its early early days, March of
2014, even before it was launched on the mainnet, and during the ICO process…
Having Gavin up there would make sense, he co-designed the Ethereum protocol with Vitialik,
He helped code the first functional implementation of the platform released as "POC-1" or the
alpha release and authored "Yellow Paper", the first formal specification of the protocol
defining the Ethereum virtual machine the EVM and the smart contract language Solitdity!
That means Gavin Wood, of Polkadot, is muy importante to what we see going on today.
The EVM of which he defined, is the most important piece of Ethereum, and it's the most important
piece of other blockchains too.
Have you noticed every blockchain and it’s mother is scrambling to become EVM compatible?
Literally every single one…
So out of the competitors, trying to integrate the EVM to become Ether compatible….I’m
choosing the one from the guy who created it, & who worked alongside Ethereum and it’s
ecosystem the longest…
Gavin, created an Ethereum Client, Parity, which all the way up to July of 2020, was
the 2nd most used Ethereum client, behind Geth.
Parity, has now transitioned to OpenEthereum, and a DAO not under Gavin’s control, but
checking out the breakdown of client today, Open Ethereum is still the #2 most used.
And even as Gavin left Parity, to focus fully on Polkadot, with the parting OpenEthereum
DAO blog, he said this under the section “The Future is Multi Sharded”: Over the past
few weeks, we have also reviewed the Ethereum 2.0 development roadmap and the existing client
developer teams and projects.
We're very excited to see Serenity's homogeneous sharding technology evolve alongside the heterogeneous
sharded Polkadot, and are proud to continue supporting experimentation and prototyping
efforts towards Eth 2.0.”
It’s a multisharded future, and I couldn’t agree more!
So now let’s get into the DOT of it all!
Why I decided to make this content today.
Later in the month, beginning May 19th, a big Polkadance.
The Polkadot decoded conference.
Why is this conference important?
Parachains…..
Now to understand how Parachains are going down on Pollkadot, you need to understand
it has a brother in arms.
A wild child cousin, called Kusama….
This is the canary network of Polkadot...what does that mean?
Well Kusama was created by Gavin and team, to test Polkadot features before they go live
on the main Polkadot chain!
If it’s technology being developed to apply to the DOT ecosystem, Kusama is where it lives
first, including the Parachains!
So let’s just slide right back to the Polkadot decoded program of speakers and Topics.
On Day 1, May 19th, at the end of the section on Parachains, Shawn Tabrizi is speaking on
the topic “Auctions, and Crowdloans, and Slots, Oh My!”
Parachian auctions, parachain crowdloans, and parachain slots….
And I have a feeling it just might be the time, Kusama parachain auctions are announced...a
date and time!
Why?
Going to the speaker of this topic, Shawn’s twitter, what is one of the last things he
retweeted.
Kraken saying that Kusama Parachain Auctions were coming to their exchange!
Why would he be doing this?
And why would Kraken be getting hype going if they weren’t coming soon…
Sooo, if that does happen, and by no means is it guaranteed to, this might just be a
KEY conference, for those looking to win the first slot auction spaces!
And one team and company I really like, one of the more technical is Robonomics!
Who is speaking on Day 1, Stage 1 at Decoded about IOT and Smart Cities!
Another Reason, Robonomics is also on the top of my list, for getting an auction spot,
is they have a full landing page website, detailing just that, obtaining one.
And the rewards they are giving to those who support them during the auctions.
But Robo...just may lead us down the rabbit hole, and confirm that this conference may
be when parachains are officially announced on Kusama.
Going to their twitter, one of the last things on there is a Handsomeman, asking when parachain?
Of which the XRT Twitter replies with a github issue link.
Going to that...it’s posted from Gavin Wood and titled “Tracking issue for Kusama Parachains
Launch” with a checklist of what needs done….but no checks!!
They aren’t going to be ready by Decoded Tyler!!!
HOLD up, wait a minute.
Let me put some Chico in it….
As you can see, they locked comments from prying eyes, and only to the collaborators.
There is a big discussion going on, as some comments are being deleted.
Work is being done…
Which is confirmed, if you go to one of the top posts on the Kusma subreddit yesterday.
Titled “ Runtime version 0.9.0 has been published!
This means lower tx fees and parachain compatibility!”.
The poster Adam Clay says “ParityTech has released the newest runtime and is urging
validators to make the switch ASAP!
Bruno from Web3Foundation has said that the vote will be proposed and likely passed before
the weekend.
The new runtime will decrease tx fees by 50% and it will lay the foundation for parachains!
Once the runtime has been passed, phase 1 will be complete!
Ohhh, so now we can fill in a ton of checks on the tracking roadmap, all of Phase 1...are
they going to be able to push out phase 2, by the time Decoded comes?
Well as you can see, Gavin originally posted the tracking list 18 days ago, which looks
like it had more to do than Phase 2….
12 days away today, from the start of Decoded, and a phase to complete.
It’s highly possible in my opinion…
Now, going back to the decoded program, and speakers, many other polka ecosystem projects.
Plala, Darwinia, Unique Network, Plasm, but on Stage 2, it's all about DeFi and some of
my favorite projects are also speaking, Ampleforth is there, next to Centrifuge, down below is
MoonBeam, Acala and Kilt...but the one speaking first is one who is important to the auctions.
BiFrost….and there SALP liquidity protocol.
Going to the explainer on what they are talking about.
BiFrost says: “Bifrost plans to provide KSM/DOT liquidity for Kusama/Polkadot parachain
slot auctions.
Since users who contribute their KSM/DOT to parachian crowdloan face a period of time
(6-24 months if the parachain wins) that their KSM/DOT cannot be redeemed, users will not
be able to trade the assets or receive staking rewards, which represents an opportunity cost.
To address this, Bifrost will provide vsDOT (Voucher Slot DOT) or vsKSM to unlock liquidity.”
Oh yeah, they are providing an unlocked token.
So you can participate in Kusama auctions, and not have your freaking liquidity locked
for Months!
And going to the BiFrost application, they still are on the testnet, but clicking on
that it says Mainnet coming soon.
Then going to the Derivative section & vs, voucher slot tokens...it says for Kusama,
coming soon too…
All l have to say is when their BNC token is out in the wild and trading, I’m going
to be so freaking excited & the same goes with Centrifuge, and their CFG.
Maybe some news about these two at the conference too?
We will have to wait and see.
Cheers I’ll see you next time!