“Google for Web3”-specific blockchain — OriginTrail Parachain launches today! Here’s what’s next…
Today, the OriginTrail ecosystem, led by the quest to develop the world’s first Decentralized Knowledge Graph (aka “Google for Web3”) and make humanity’s most important assets discoverable, verifiable and valuable — launches its specialized blockchain — the OriginTrail Parachain!
Integrated with the Polkadot Relay Chain, the OriginTrail Parachain brings a formidable capacity to incentivize the usage growth of the DKG, as well as creates huge efficiency gains without sacrificing decentralization, and network effects through interoperability with other domain-specific parachains (eg. Acala — DeFi, Enjin — Metaverse, Kilt — Decentralized Identity, Moonbeam and its hosted EVM based protocols…).
The details of this new OriginTrail ecosystem component are outlined in this recently published white paper.
Here’s what’s next…
Parachain launch sequence
The OriginTrail Parachain launch is following a predetermined sequence of six stages, which gradually unlock capabilities and functionalities of the DKG-tailored blockchain. With the first blocks getting produced on the mainnet, OriginTrail Parachain has entered the first stage which is expected to last 1 month (until the end of June).
The first stage brings:
- Transactions — as the core functionality of any blockchain, transactions will be enabled from the very genesis block.
- OTP token — the first minimum number of OTP tokens will get created from the first block, designated for the initial validation tests proceeding after launch.
- OriginTrail community distribution interface — mid-June an interface to create a connection between your TRAC wallet and your Polkadot wallet will be available. This is necessary for the distribution of OTP rewards to TRAC holders as designated here. This interface will be available for a duration of 3 months.
- Mainnet validation — to ensure a smooth completion of the launch, the mainnet of OriginTrail Parachain should run without any significant hurdles for at least 3 weeks before any further features and upgrades are implemented.
- OTP token distribution — After validating the mainnet network is fully functional as expected, the OTP token distribution for crowdloan participants and the OriginTrail community will take place (estimated start of distributions is at the end of June). Expect a separate blog post with detailed step-by-step instructions to claim your OTP tokens for both of these distributions.
The distribution of OTP tokens also marks the end of the first stage of the launch sequence.
The second stage focuses on connecting the DKG with the OriginTrail Parachain through the following steps:
- TRAC token bridge — having the OriginTrail Parachain launched and OTP tokens distributed, the next step is to enable transfer of TRAC tokens from Ethereum to the OriginTrail Parachain. Prior to deployment of the token bridge an RFC will be made available.
- EVM support and DKG integration — as TRAC tokens become available on the OriginTrail Parachain, the next step is to enable EVM support and connect OriginTrail v6 to the Parachain. This will also be the first integration of OriginTrail v6 on any mainnet blockchain.
With the DKG successfully connected to the Parachain we will see the functionality of OriginTrail v6 with over 500x scalability improvements get available for production adoption.
On the back of this important milestone, stage 3 of the launch will continue enabling the OTP token inflation mechanisms and incentives. In this stage we can expect:
- Token inflation — enabling generation of OTP tokens as described in the whitepaper. You can expect a more detailed RFC to be available before the release.
- Incentive pools — enabling allocation of OTP tokens towards Collators incentives pool, Future auctions pool and DKG incentives pool. You can expect a more detailed RFC to be available before the release.
- Collator staking — enabling the possibility to stake OTP tokens to Collator candidates. You can expect a more detailed RFC to be available before the release.
Following above are three more important stages:
- In the 4th stage, the community treasury together with governance and voting capabilities will be enabled and Sudo capabilities will be removed to enable full governance by the OTP community.
- In stage 5, we will expand joint capabilities of OriginTrail Parachain and DKG to enable native marketplace functionalities.
- The final launch stage, the 6th, is a more open-ended one. In 2023 we expect to see several more functionalities get introduced, one of those being graph smart contracts — next generation smart contracts which are directly connected to the DKG.
You may find a detailed roadmap at parachain.origintrail.io and make sure to follow OriginTrail Parachain on Twitter to be among the first to receive exciting updates. And there will be plenty, as the OriginTrail ecosystem enters a fine company of specialized parachains on Polkadot to grow the value of network effects.
Remember the words of the wise Captain Jean-Luc Picard of Star Trek — “Things are only impossible until they’re not.”