Polkadot announced the launch process: PoA, NPoS, governance, removal of Sudo, activation of core functions

Today, Polkadot’s official website published an article explaining in detail the process of Polkadot’s launch. It seems that Polkadot’s launch is indeed getting closer.

The Polkadot network will have a phased launch plan, with each phase being a more decentralized milestone. To learn more about every detail of the process, check out Polkadot and Kusama founder Gavin Wood's explanation at the end of this post.

The Polkadot ecological concept sector has an average increase of 2.04% today: Jinse Finance and Economics quotes show that the Polkadot ecological concept sector has an average increase of 2.04% today. Among the 26 currencies, 15 rose and 11 fell, among which the leading currencies were: MXC (+22.02%), DOT (+18.01%), and EDG (+12.28%). The leading currencies are: AR (-10.42%), OM (-7.81%), MATH (-6.99%). [2021/4/3 19:43:44]

The launch process begins with the Web3 Foundation launching the first chain candidate, a proposal for a Polkadot relay chain. The initial chain has a limited runtime, which is limited to basic operations to ensure the stability of the network. These limitations will eventually be removed through a series of governance decisions.

Polkadot Weekly: Rococo has connected to 11 parachains, and there are 21 more parachains waiting to apply for access: According to PolkaWorld’s latest Polkadot Weekly, important events this week include:

1. PolkaBTC’s public beta testnet was launched, and at the same time, it received 1,300 DOT funding from the treasury to encourage developers to use the testnet;

2. Compound announced Gateway, a prototype product based on the Compound chain white paper, which is a Substrate blockchain managed by COMP token holders;

3. Ledger has integrated Polkadot;

4. ONTOWallet now integrates Polkadot as one of the 11 chains they support;

5. Polkadot 0.8.29 has been released, and the upgrade priority is low;

6. Polkadot’s No. 16 referendum, which proposed to increase the number of Polkadot validators to 599, failed;

Referendum 7.18 is currently being voted on and the proposer is a victim of a technical issue seeking reimbursement;

8. The staking rate has remained relatively stable in the past few days, but the minimum number of DOTs that can be nominated is as high as 120 DOTs;

9. Polkadot network punished 9 verifiers in era 1951 slash;

10. At present, Rococo, the Polkadot parachain test network, has connected to 11 parachains, and there are still 21 parachains waiting to apply for access. At present, because some validators of the parachains are not online, block generation is relatively slow. It is expected that Rococo will restart again next week to optimize the problem of slow network block generation. [2021/3/7 18:22:50]

Launch phase

Jubi will launch the Polkadot token KLP in the Asia-Pacific at 16:00 on August 26: According to official news, Jubi will launch Polkadot for the first time in the Asia-Pacific at 16:00 on August 26, 2020 (UTC+8). It is the token KLP. The deposit and withdrawal of KLP will be available at 13:00 on August 25, 2020.

Kulupu (KLP) is a Polkadot-based blockchain project that combines a POW consensus engine with no-fork upgrades. KLP refers to the operation of the consensus mechanism of Proof of Work (POW), using the Substrate framework, and is considered to be an autonomous blockchain system capable of self-renewal. [2020/8/25]

Polkadot launch stage

PoA

In the first phase, Polkadot will operate as a proof-of-authority (PoA) chain maintained by 6 validator nodes from the Web3 Foundation. The chain only allows users to stake DOT tokens and submit their intent to become validators or nominators.

NPoS

Once the Web3 Foundation has confidence in the stability of the network and a sufficient number of validator node applications, the Web3 Foundation will use sudo (a superuser account with access to governance functions) to initiate the first validator election. This election will see the network transition from PoA to its second phase, Nominated Proof-of-Stake (NPoS), where the network is secured by validator-bound economic staking.

Governance

After the chain is functioning well with a large validator set, the sudo key will enable the governance module in Polkadot, that is, the module that enables the council, technical committee and referendum. Once a council and governance tools are in place, the public has the means to change the institutions in the system.

Remove sudo

The runtime upgrade initiated by the referendum will remove Sudo from Polkadot and return the Polkadot network to DOT holders. Without Sudo, the chain would no longer be a candidate chain, but a real, decentralized network.  

Start transfer & core functions

The final phase of the Polkadot rollout will involve unlocking the remaining features. The first upgrade after Sudo will likely enable balance transfers across the network. After that, the remaining core features of Polkadot can be unlocked through proposals, such as allowing the first parachain and cross-chain messaging.

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