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Polkadot Parathread: "Pay as you go" parachain



Parathreads open up the parachain paradigm, lowering the barrier to entry for shared Polkadot security and connectivity. Now, for those projects that may not have enough capital to auction off dedicated parachain slot slots, if they need high throughput, Polkadot is now more accessible and has the opportunity to become a parachain. While parachains can borrow DOTs from users through crowdfunding, they may not have their own community for crowdfunding. Using parathreads, any development team can access the relay chain and create their applications.

Dedicated parachain slots provide high throughput but require a relatively large security deposit of up to two years. So why do you need to do this? Because shared security is not free security, parachains are the link between this security and the throughput of Polkadot. Parathreads have the exact same API and functionality as parachains, but on a "pay-as-you-go" basis.

The decentralized sustainable development platform Bitgreen won the 29th round of Polkadot parachain auction: On October 12, according to Polkadot’s official Twitter, the decentralized sustainable development platform Bitgreen won the 29th round of Polkadot parachain auction. According to reports, Bitgreen aims to use blockchain technology to promote capital support for sustainable development plans. [2022/10/12 10:32:37]

If you imagine Polkadot as a huge computer, parachains are like applications in physical memory and are highly available. Parathreads are like applications on disk, which can be copied into memory when needed. For those already familiar with how bitcoin and ethereum work, users bid to include a parathread block into the relay chain, similar to how users bid to include transactions in bitcoin or ethereum blocks.

Golden Relativity | Acala Network Jiang Fuyao: The effect of Polkadot Parachain’s online technology-driven linkage will become more and more obvious: Golden Finance Report, news on December 11, in today’s Golden Theory of Relativity, for the mainnet The most important milestone before the launch, what linkage effect will this milestone bring?" and other questions, Acala Network Jiang Fuyao said that PLO (parallel chain leasing issuance) can make multiple participants mutually beneficial and win-win, 1. Kusama, Polkadot lock and capture Token value, benefit 2. The project party obtains slots, enjoys shared security, and cross-chain interoperability, benefit 3. Users mortgage KSM/DOT, without losing assets, obtain the project party Token, benefit 4. Users mortgage KSM/DOT , not directly to the project side, KSM/DOT has no project side selling, but instead locks the position, the user locks the asset part, and benefits 5. Those who cooperate with exchanges, mining pools, etc. to play some new tricks, these partners will also benefit.

Therefore, the effect of Polkadot parachain’s online technology-driven linkage will become more and more obvious. The most important thing for Acala is that the product will be put into the market to get more verification, and the one-stop cross-chain DeFi and other derivative services themselves It will bring more liquidity to the entire market. [2020/12/11 14:56:04]

Parathreads are suitable for the following three applications:

Hu Xin, CEO of MXC: Regarding the Polkadot parachain slot auction, MXC is ready and confident that the first round of bidding will be successful: On the evening of December 2, the live interview program "Wine Bureau Coin Going" hosted by Hu Xin, CEO of MXC, was invited to share the latest developments live. During the live broadcast, Hu Xin and partner Jiuer discussed and exchanged views on the prospect of MXC participating in the Polkadot parachain slot auction. Hu Xin said that MXC attaches great importance to the auction of Polkadot parachain slots, is ready, and has obvious advantages in this auction: In the past year, MXC’s revenue from mining machines alone has reached hundreds of millions, There are already enough chips to compete for the Polkadot card slot, and the existing 7 super nodes will fully support MXC to participate in this auction, and MXC miners will most likely deposit their DOT into MXC Domain card slot to support. In addition, institutions such as Amazon and Tencent are actively accessing and testing the MXC smart city network for long-term in-depth cooperation. The addition of these giants will greatly enhance the strength of MXC... Based on these advantages, Hu Xin It is believed that MXC will stand out in this election and win. live broadcast room will regularly invite blockchain industry practitioners to bring high-quality content-ethexc knowledge. For details, click the original link. [2020/12/2 22:54:51]

Applications seeking access to Polkadot

Bithumb will launch the DeFi platform Clover as a Polkadot parachain: The South Korean crypto exchange announced that Bithumb will soon launch the DeFi platform Clover, which will link to the Polkadot network as a Polkadot parachain, powered by DOT technology. (Cointelegraph) [2020/10/13]

Applications concerned about losing parachain slot bits

Applications that read more than write

As we developed Polkadot, some teams expressed concern about the margin required to bid for a dedicated parachain slot. Emerging projects may not have enough funds to set aside more than 20,000 DOT in two years. Parathreads require only a minimum bond amount (50 to 100 DOTs) and allow chains to submit a block to the relay chain when they have a full batch of transactions, while gaining the benefits of Polkadot's full security and connectivity. If an application gains significant adoption, it can crowdfund the required DOTs and upgrade to a full parachain in exchange for the existing parachain.

Polkadot founder: The Kusama parachain auction will be held before the Polkadot parachain auction: According to official sources, some community members asked when the Polkadot parachain slot auction will start? Polkadot founder Gavin Wood replied today that the Kusama parachain auction will be held before the Polkadot parachain auction. It doesn’t make sense to start doing auctions until we’re ready to actually host parachains on Kusama/Polkadot. There are several blocking factors as follows: 1. The parachain code needs to be upgraded from Rococo v0 to v1. This work is currently underway and may take a few more weeks. The v1 release is the basis for some important future features including usability and availability, xcmp and parathreading, etc. 2. Cumulus also needs to be upgraded to work with parachains v1 and xcmp-lite and be stabilized (this is also an important stability testing site for Rococo). 3. The ultimate security of parachains (through usability and validity) needs to be fully implemented and (for Polkadot) audited. 4. The auction module also needs to be audited (for Polkadot) (this will take 1-2 weeks, but is unlikely to be a bottleneck). So regarding the slot auction, there is no fixed date yet, because it doesn't make sense to start an auction before the technical groundwork is done. However, we will continue to update progress whenever important milestones are achieved. [2020/9/23]

Another concern of chain interoperability is the management of dependencies. Having dedicated chains to make up your application is great, but what happens if one of the chains you use loses its parachain slot? Now, the chain can simply be demoted to a parathread and remain available. This lifecycle will allay the fear of losing Polkadot connections.

For some applications, it makes more sense to be a parathread than a parachain. That is, those applications that do not have frequent state updates. Take domain name services as an example. The number of read requests is high, but updating the registry every hour is normal. DNS does not require Polkadot's six-second block time. Oracles are also good candidates for parathreading, such as daily weather or Bitcoin block oracles.

Polkadot will reserve some parachain slots for the parathread pool. Any number of parallel threads can exist in the pool, but only a limited number can execute in each block.

In each relay chain block, a parathread will issue its willingness to execute a block by participating in an auction. The parathread collator (collator) will tell the validators assigned to the pool how many DOTs they are willing to pay to execute and complete their blocks. The pay-per-block model differs from parachains, which have the right to execute one block per relay chain block through their dedicated slots.

Parathreads can fund block execution in a number of ways. For example, they could raise funds and have a DOT account for their chain, and let collators use that account to finalize blocks when needed. Alternatively, parathreads can have an inflation model that gives collators more native tokens while the relay chain is running. Once the value of the native token exceeds the value of the DOT required to win the auction, the collator will accept the block reward.

Parathreads are a powerful complement to Polkadot. Since parathreads have the same interface as parachains, they are all protected by Polkadot shared security and can send and receive messages via XCMP.

Polkadot will be able to support about 100 parachains. Parallel threads allow applications to share parachain slots, increasing the number of applications that can run on Polkadot. This will allow more infrastructure chains to exist and improve composability.

One of the set of parachains will be the system level chain. One of our goals with Polkadot is to have a relay chain with no transactions. The proof of validity is the only information that enters the relay chain block. This means there will be a parachain for DOT transfers, one for governance, one for staking, one for smart contracts, etc.

Another set of parachains will be applications that lease dedicated parachain slots. These will be heavily used chains like decentralized exchanges or stablecoin chains. For these chains, bonding to fully utilize the Relay Chain can be more economical than paying per block.

The third category will be parathreads, which are most applications that need Polkadot's security and connectivity, but not the full throughput.

Parathreads are an important step towards making Polkadot more accessible and optimizing the resources available on the relay chain. With Polkadot's entry-level capabilities so strong, any team can start developing applications in preparation for Polkadot's launch with the confidence that they can connect to the relay chain and fully benefit from interoperability.

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