Polkadot Plans to Update Auction System
November 26, 2023
If all goes as planned, Polkadot (DOT) could be getting rid of its current parachain auction system and adopting a new model known as Agile or Bulk Coretime. This new system is expected to make the platform more user-friendly and will be implemented in the next six months, according to Pierre Aubert, the new VP of Engineering at Parity Technologies, the blockchain infrastructure firm behind the Polkadot project.
Revamping the Auction System
The parachain auction system on Polkadot allows for the allocation of slots to access specific features on the blockchain. However, the VP of Engineering believes that this system is currently not the most user-friendly and plans to replace it with a new structure to improve the overall user experience.
Making It Simple
Aubert revealed that the new system will be ready in six months and will include features called Core Jam and Core Play, designed to provide users with a more friendly experience. He noted that the current technology is great but acknowledged that it’s difficult to use, and their goal is to make it more accessible to users in the future.
Impacts on Polkadot and Kusama
Aubert also mentioned that Polkadot’s sister-project Kusama will also be affected by the transition to the new model. Once the transition is complete, both Polkadot and Kusama will be able to bridge directly to ethereum (ETH).
Competition in the Blockchain Sector
Polkadot’s decision to update its auction system may be influenced by increasing competition from other blockchain projects such as Cardano (ADA) and Cosmos (ATOM). Both of these projects have been giving Polkadot a run for its money, as evidenced by a decrease in Polkadot’s Development Activity metric, which is currently at its lowest level in the last seven days.
Similarly, Network Growth on Polkadot has not been impressive, indicating a lack of new features and decreased participation from new wallets.
The introduction of a new and user-friendly auction system on Polkadot could potentially revitalize the platform and address existing issues to ensure that it remains competitive in the ever-evolving blockchain sector.
### News source: eng.ambcrypto.com