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Polkadot Kusama

Boost For Polkadot As Kusama Sells All 3 Coretime in First Sale: DOT Rejects Bears

Dalmas Ngetich
by Dalmas Ngetich
1 year ago
·
Posted in Altcoins
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

In a momentous event that heralds a new era for Polkadot, Kusama, its test network, sold all three cores in its first Agile Coretime sale, as reported on April 30. This achievement, shared by Parity Technologies, the developer of the interoperable blockchain, is a crucial step in their roadmap towards bringing Agile Coretime to the mainnet.

Kusama Sells All Three Cores: Beggining Of A New Era?

In an update on X, all three cores were sold on April 30, generating 70 KSM, worth approximately $1,980. Each core was sold for 23.4 KSM, or roughly $660. Buyers of each core can now produce blocks on Kusama for the next four weeks. 

Agile Coretime sales on Kusama | Source: Analyst on X
Agile Coretime sales on Kusama | Source: Analyst on X

The Agile Coretime concept, a replacement for the parachain auction system, is a welcomed change, especially for participants eager to produce blocks or deploy protocols. In this model, participants can bid for core time, a system that promises more efficiency, as envisioned by Gavin Wood, the developer of Polkadot and Kusama. 

Related Reading: Pro-XRP Lawyer Deaton Accuses SEC’s Gensler Of ‘Infecting’ Ethical Standards

The goal is to accelerate the pace at which new decentralized applications (dapps) can join the network. This will also help amplify enterprise adoption of Polkadot solutions.

The Agile Coretime concept eventually replaces the previous parachain auction system, bringing a host of benefits. For instance, it eliminates the need for upfront, long-term slot commitments, as with Parachains. 

This will, in turn, help foster more flexible resource utilization, particularly for new projects. Most importantly, this model creates opportunities for early-stage ventures and individual developers to participate.

It remains to be seen when this model will go live on Polkadot. However, early success in Kusama sets the pace for the eventual integration in the coming months.  

Polkadot Prepares For Asynchronous Backing, DOT Rejects Bears

Beyond this, Polkadot plans to activate Asynchronous Backing on the mainnet in the coming weeks, an update that enables the network to process more transactions, pushing up the overall throughput. Additionally, it allows for increased block capacity and shorter block times, changes that are a net positive for the network.

Polkadot price trending sideways on the daily chart | Source: DOTUSDT on Binance, TradingView
Polkadot price trending sideways on the daily chart | Source: DOTUSDT on Binance, TradingView

With this announcement, DOT prices are stable, cementing its position in the top-20. At press time, the coin changes hands at around $6.5, rejecting bears. Notably, DOT is finding support at April 2024 lows.

Related Reading: Ethereum Founder Buterin Warns Against Hardware Wallet Use: Here’s Why

Still, for bulls to take over, prices must ease past $7.5, reversing losses of April 13. This development might anchor bulls who are currently targeting March 2024 highs.

Feature image for Canva, chart from TradingView
Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
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Dalmas Ngetich

Dalmas Ngetich

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Dalmas is an experienced journalist with over a decade in Forex, general finance, technology, and blockchain developments. He is currently a crypto reporter for Bitcoinist, where he covers DeFi, blockchain, DeFi, and latest industry news. His work and that of his partners have been featured in top news outlets, including Forbes, investing.com, CoinTelegraph, and Entrepreneur, among others. He is passionate about technology and politics and is always on the lookout for the latest trends in these fields. He also loves spending time with his family and friends, exploring nature, and traveling to new places. Connect on X: @Dalmas_Ngetich, or message him directly on Telegram here: @Dalmas_Ngetich.

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