Bitcoin

Polkadot officially switches to Mainnet after Web3 Foundation removes administrator privileges

The Polkadot blockchain is now completely decentralized and free of permits After a decision approved by the local government, the administrative rights of the Web3 Foundation were removed.

Gavin wood, the co-founder of the developer of Polkadot Parity Technologies, tweeted Unlock while it was happening. The government’s proposal to lift special administrative privileges was approved at around 8:00 UTC on July 21. which signaled the real start of Polkadot.

Polkadot has been in operation since late May, however began to operate as an Authorized Proof of Authority (POA) network. The Web3 Foundation validated the network and had special access to intervene in the blockchain in the event of a crisis.

Polkadot officially switches to Mainnet after Web3 Foundation removes administrator privileges
Polkadot officially switches to Mainnet after Web3 Foundation removes administrator privileges

These measures have been taken Reduce damage caused by possible catastrophic security vulnerabilities and errors in the restarted network. Over time, validation has been decentralized using a sample test system that currently uses more than half of the 197 DOT tokens in circulation.

A key component of the Polkadot Consensus is the community governance system, the enables token holders to express their opinion on the most important parameters of the ecosystem. One of these parameters is the naming of the DOT token, as Cointelegraph previously reported.

He Governance system It was also used to remove administrator access, which Wood called “poetically good.” From a practical point of view, however, the procedure was also required to test the governance system one last time.

With the vote Polkadot removed the first candidate chain (CC1) from its main network. This initiated the true core network for the Smart Contracts platform.

Ready to start

Anticipating the final start, Polkadot was involved with companies and developers in his community.

As Cointelegraph previously reported, Thanks to Polkadot’s modularity, both developers can be attracted to other intelligent contract platforms like Ethereumlike those of more traditional origin. It uses WebAssembly for its virtual machine that accepts “Web2” programming languages ​​like Rust and C ++ to encode DApps. Frames are also being developed to provide distributed applications in Solidity, the programming language Ethereum.

Before, Parity started integrating Chainlink oracles into KusamaPolkadot’s “Canarian Network” was used to experiment with technology in a somewhat lower environment.

Cointelegraph also reported on this Celer network He worked to bring scalability from layer two to polkadot.

As part of the overview of interoperability, the Web3 Foundation is also funding a number of projects that focus on bridging other blockchains with Polkadot, especially Bitcoin (BTC).

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