Polkadot wants to climb incorporating the so-called parachutes. Now, five more are part of the ecosystem.
Habemus Parachains! Five new Parachains have been live on the multi-blockchain platform Polkadot since Saturday, December 18. The chains are Acala, Moonbeam, Astar, Parallel Finance, and Clover. They are all among the winners of the Parachain Aukions, who decide who can join the Polkadot ecosystem.
With the launch of Parachains, Polkadot is delivering on the promise of a multi-blockchain platform outlined in the 2016 whitepaper.
The parachutes are the last part of the main functionality as described in the document. How Polkadot evolves from here is up to the DOT community of owners approving all future updates through the network’s on-chain governance system.
it says in a Polkadot press release.
The five newly added Parachains are by no means the first: in June of this year, Statemine launched a chain by the name of “common good chain.”
However, with six parachutes, Polkadot is far from done. The next auction is scheduled for December 23. All six winners can launch their Parachain on March 11 next year.
What are parachutes?
Polkadot’s value proposition is based on the interoperability of blockchains. Rather than mapping many use cases on one chain and pushing them to the limit of what is feasible, Polkadot can be described as a network of many chains, the so-called parachutes. This should allow the ecosystem to process multiple processes at the same time and therefore be scalable. Polkadot advertises that his system is not at the expense of decentralization or at the expense of speed of data processing. Whether this promise can be kept remains to be seen, because Ethereum shows: the more complex the blockchain, the quieter it is.
You can find a detailed explanation of parachutes in the Academy.