The Polkadot Post #1
20th October — 3rd November
The Polkadot Post is a biweekly digest of updates in Polkadot and Kusama. The Post is curated by Citadel.one team. Today, we have collected all the essential metrics, news, and events for you to stay tuned with Polkadot and Kusama ecosystem.
Community Growth Statistics
The integration of Ontology’s DeID is part of a wider effort for Ontology to build a parachain on Polkadot. They envision that the parachain will provide a series of credit-based services on decentralized identity and cross-chain communication. These credit services will include OScore as well, Ontology newly launched credit scoring system designed to seamlessly accelerate the potential to borrow or lend based on a user’s cryptocurrency transaction and asset management history. In addition, this parachain will bring cross-chain liquidity to the Polkadot network.
Learn more about the Polkadot progress with daily recap from Bill Lamboon. Some key takeaways from today’s post:
- Patract Hub’s treasury proposal for Elara v0.2 has passed.
- Various collator improvements were added in this PR, including a README on how to run a collator.
- Council Voting on Motion #34 , “OpenSquare’s treasury proposal for a knowledge tip authoring tool” has begun.
Also check other digests for the past period via the link.
- build: add nix shell.
- Don’t slash all outgoing members.
- Add keccak512 hash.
- Reconfigure on_initialize weight.
- Add Totem ss58 address.
- Update Tips to go 100% to Author.
- Print an error if an unregistered notifications protocol is used.
- grandpa: don’t send equivocation reports for local identities.
They talk about Wood’s mission to re-decentralize The Web as a ‘free trust technologist’, giving the Internet native law, and how Polkadot is a bet against blockchain maximalism with a focus on ‘full agency’ for the network and its network of blockchains (parachains) to adapt and evolve with baked in governance. They also address how Polkadot could co-exist or compete with ETH 2, depending upon the pathway the Ethereum community chooses.
Polkastarter ($POLS) is one month out from the token release, and many great and exciting things have happened for our community, awareness, and of course product development. Check their progress via the link above.
The Polkadot Treasury is a pot of funds collected through transaction fees, slashing, and staking inefficiencies that can be spent by submitting a spending proposal that, if approved by the Council, will enter a waiting period before distribution. Learn how to participate in the article.
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OAX Foundation announced their decision to develop technology on the much anticipated Polkadot Network early 2020. With Polkadot’s scalable network and efforts to address interoperability, the Foundation wanted to develop features that would benefit those that are working in the network: PRC20, Burn, Atomic Swap, Fee Delegation and MultiTransfer.
Check an article giving a comparison on Polkadot and Ethereum development stages, smart contracts, programming languages and companies involved.
- November 3, 22:00 UTC: Adding New Pallets into Substrate Node Template
- November 6, 14:37 UTC: Voting ends on council motion 33.
- November 11, 6:12 UTC: Voting ends for referendum 10.
- November 11, 6:12 UTC: Start of the next referendum voting period.
- November 11, 6:12 UTC: Start of next spending period.
- December 3, 14:00 UTC Polkadot Decoded: The Polkadot Community Conference.
- December 8 5:44 UTC: Potential dispatch of referendum 10 (if passed).
- Q1 2021: Bitcoin is coming to Polkadot (PolkaBTC).
What are the primary functions of ChainX’s Kusama parachain plan?
1. XBTC on the ChainX independent chain has been extended around the idea of allowing the project party to lock up PCX in exchange for XBTC through mortgages, and circulate XBTC on the Kusama platform, thereby providing huge capital circulation for BTC, which accounts for more than 60% of the cryptocurrency market value.
2. Provide a template module that can be quickly developed to allow independent consensus chains such as ton/bytom to be quickly integrated into this parachain.
3. Provide EVM smart contracts, allowing easy migration of Ethereum smart contracts.
4. Provide Wasm smart contract, which allows easy migration of smart contract Dapp on EOS.
Karura, the sister network to Acala and DeFi hub of Kusama, will soon begin its PLO to garner community support for the first Kusama parachain auction. Karura’s cross-chain DeFi hub will provide a stablecoin (kUSD), staking liquidity for KSM called L-KSM, DEX capabilities, borrowing, lending, among other applications.
October was an eventful month for the Substrate Ecosystem! A lot of core technology upgrades, a lot of fundraising, and a fair amount of debacles await you in this article. Read the second edition of the most important developments in the Substrate Ecosystem curated by Elias Simos, the Protocol Specialist at Bison Trails.
The new Bounty Extension allows curators to autonomously allocate funds to projects that bring value. Anyone can propose a bounty to the Councils for review and vote. When this happens, the Councils expect the proposer to present an organized idea that will allow them to think in a long-term allocation solution: The Polkadot submission template and the Kusama submission template can help you complete your proposal in an organized way. Learn more via the link above.
Web3 Foundation has set up a low-cost and open-source registrar service that automatically verifies Element (previously called Riot), Twitter, and Email accounts associated with a Polkadot account. This service will be extended to more verification options in the near future. This article illustrates the various benefits for validators and other token holders of setting an on-chain identity and gives further resources on how to use the service.
- 15th October 2020–12 November 2020 — HELLO WORLD!, a series of challenges to bring you on a journey of Polkadot development discovery
- 30th November 2020 — Polkadot/Substrate Developer Academy
- 3rd December 2020 — Polkadot Decoded, featuring a full program of talks on all aspects of Polkadot by the teams building the network’s core technology, as well as those building ecosystem parachains, applications, and cross-network bridges.