Second Edition of Kusama Parachain Slot Auctions Promises Heated Competition

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Kusama team has kicked off the second installment of the smash hit Kusama Chain Guard Slotted Bars on September 1st. In this iteration, the Kusama team will host five auction rounds over five weeks, similar to the first five rounds held in June and July. Auctions will begin within two days of the initial bidding for each round, followed by a final five-day period.

Kusama’s first five auction rounds saw some of the most promising blockchain projects bidding in limited spaces. second installment also promises a series of fantastic projects, each designed to help promote the widespread adoption of blockchain technology.

Choose the most promising blockchain projects

To understand what makes Kusama a favorite choice for new projects, we must understand the underlying concept of parachain and relay chain. se are independent blockchains that work in parallel within the Polkadot and Kusama networks. A forwarding chain is a primary network where all transactions are finalized. A parachain is a custom blockchain attached to a relay chain that uses its computing resources to validate the accuracy of transactions.

Kusama acts as a testnet or Canary Network for Polkadot. For any project to be implemented in Polkadot, you must first experiment and validate the structure and functionality of the code in Kusama. As a testnet for Polkadot, Kusama offers a multi-chain architecture, flexible governance framework, and comparatively lower participation requirements to help dApp developers test their products. As of now, both Kusama and Polkadot support up to 100 parachutes.

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To reduce the number of projects competing for access to the limited number of relay chains, the teams behind Kusama and Polkadot are using parachain slot auctions so that only the most deserving blockchain projects can take advantage of relay chains and the distributed computing power.

Simply put, Kusama’s chain guard groove rods are one way to decide which chain guard to connect to your relay chain. Chain protectors that win a spot in auctions will be implemented first in Kusama to make sure everything works properly before extending the same functionality to Polkadot. core idea of ‚Äč‚Äčthese auctions is to create a sense of scarcity and competition, helping to ensure that only active projects (parachutes) with well-planned tokenomics and community support win a spot.

Kusama offers functional markets and testnet conditions that other chains cannot match as a live blockchain network. Using the revised governance process, Kusama can deliver up to four times faster performance than Polkadot. For this reason, many next-generation blockchain projects are preparing to use Kusama to debug and implement their dApps.

Centrifuge’s Altair emerges as the main contender

Kusama’s parachain auctions are now live as dozens of promising blockchain projects bid for the limited spaces. Among the participants, Centrifuge de Polkadot will also participate in the contest to win a space for its Altair testnet.

Since its launch, Centrífugo has received backing and capital support from some of the top investors and venture capital firms in the blockchain ecosystem. platform raised $ 8 million from its first seed round in 2018 and $ 4.3 million in 2020. Additionally, Altair participated in the fourth Kusama parachain slot auction in June, where it raised up to 6,000 KSM through its collective loan, which It underscores the support you have from your community.

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Founded in late 2017, Centrifuge, the world’s first Real Resource Financing (RWA) platform for DeFi, is powered by Polkadot to ensure fast processing and low fees. It also has the highest TVL in the Polkadot ecosystem. Through its DApp loan, Tinlake, users can tokenize assets such as real estate, royalty payments and invoices and use them as collateral to access financing.

On the other hand, Altair acts as a testnet for Centrifuge, much like Kusama does for Polkadot. Built with Substrate and almost the same code base as Centrifuge, Altair is responsible for implementing and testing the new platform features before rolling it out to the Centrifuge chain.

Once deployed in Kusama, Altair will connect the Polkadot, Kusama, Ethereum and Centrifuge ecosystems, allowing participants to access cross-chain liquidity. Altair platform will also act as an experimental platform where users can tokenize and fund their actual assets on the Kusama network. Once Centrifuge is fully implemented in Polkadot, Kusama will be responsible for minting NFTs (non-fungible tokens), funding discovered assets, and supporting any other community-led initiatives.

While many other major competitors are vying for a spot through auctions of six to ten, Centrifuge’s Altair has established itself as one of the most promising projects. This is mainly due to their long-term plan to use Kusama and Polkadot to the fullest, while ensuring greater interoperability between several major chains.

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