Polkadot inventor Gavin Wood proposes June 15 for Kusama’s first Parachain auction

The creator of Polkadot and Kusama, Gavin Wood has released a tentative schedule for the long awaited Parachain slot auctions in Kusama.

According to a blog post on Tuesday, the first Parachains auction slot will open on June 15 at 12:00 PM Central European Summer Time.

The tentative schedule, subject to approval by the Kusama Council and other KSM stakeholders, is for the first Parachain auction to close on June 17th, with the bidding period ending on June 22nd.

Polkadot inventor Gavin Wood proposes June 15 for Kusama’s first Parachain auction
Polkadot inventor Gavin Wood proposes June 15 for Kusama’s first Parachain auction

If the Kusama Council approves the schedule, the first winner of the Parachain auction slot could emerge on June 22nd at 11:00 a.m. The second Parachains slot auction will begin an hour later, with further slot auctions planned at weekly intervals, according to Woods Post.

After the first five weekly auctions Wood recommended taking a break to evaluate network performance before starting another series of five parachain slot auctions based on the above schedule.

In May, Cointelegraph reported that Kusama was finally ready to house Parachains. According to Wood, the Kusama developers are confident that there are no technical hurdles to running slot auctions or implementing parachains.

These auctions will determine which parachains will be added to the Kusama relay chain, a Canarian network for Polkadot. To describe in detail the need to get the Kusama Parachains up and running, Wood said, “Kusama exists as the Canarian Polkadot Network and therefore helps protect Polkadot from a serious problem by maintaining functionality for as long as possible to exist in the wild. “

“Since the protection it offers is roughly proportional to the amount of time it is active before Polkadot, there is a clear reason to implement that logic as soon as possible for Polkadot’s sake.”

The weeklong advances to start the process would give the community enough time to stop betting their Kusama (KSM) to fund auction bids.

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