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DotSama is a combination of Polkadot and Kusama, both of which are emerging ecosystems in the crypto space. DotSama is designed as a multichain ecosystem that acts as a bridge to various blockchains, a patchwork of independent legal systems that interact with each other.
Polkadot is a multichain interoperability protocol that allows the transfer of any type of asset or data on its network. Founded in 2016, by Gavin Wood, Polkadot is oftentimes referred to as ‘Ethereum killer’ due to the rising number of active developments on the platform as well as potential use cases.
Kusama is a public pre-production environment for Polkadot. In short, Kusama allows developers to test and experiment with new applications and blockchains before releasing them on the Polkadot network. $KSM is the canary network in the $DOT ecosystem.
The basic architecture of $KSM and $DOT is almost similar as they are both multichain, have on-chain governance, have a heterogeneous shard design based on NPoS, have crosschain messaging and changeable runtimes for fork-free on-chain upgrades. Some projects will have parachains on both $DOT and $KSM but others will be on $KSM only. However, the two also have some differences.
$KSM is known for its faster upgrades, with 4x faster referendums, this makes it grow faster than $DOT. The economic barrier to entry for teams that want parachain implementation is also lower on $KSM. $KSM is thus perfect for projects in regards to incentives, governance, DAOs, and monetary policy. $MOVR was launched as a parachain on this platform and is a perfect illustration of the demand for a fast-paced environment. In just one month, $MOVR has upgraded its ecosystem 4 times.
$DOT is created for industrial use cases. This protocol focuses on security and stability to fulfill requirements from institutions such as banks, enterprises, and governments. The economic barrier to entry for projects that want to run on $DOT is typically higher.
$KSM and $DOT can hold up to 100 parachains each. Imagine when the two are combined? It will become a reality by the end of the year 2021. This bridge will allow all native $KSM assets to be readily available on $DOT and vice-versa.
DotSama and Web 3
Web 3.0 is all about creating a decentralized environment that also protects the users’ privacy. DotSama embodies all the principles that Web 3.0 stands for by introducing ‘less trust, more truth’. There are various projects that are on the DotSama ecosystem, which are a true representation of Web 3.0:
A smart contract platform that presents a permissionless and decentralized $ETH compatible environment for building dApps. The platform thus allows $ETH to run on top of $KSM without necessarily incurring high gas fees.
A platform that bridges real-world assets (RWA) to the $KSM network. This bridge unlocks currently inaccessible liquidity and allows various assets to access finance whenever it is accessible.
A decentralized finance hub on KSM that allows developers to create stable coins, financial applications for its users, decentralized exchanges, and engage in staking.
A consumer-centric and low-carbon electricity system that enables the participation of any energy asset owned by customers to participate in the general energy market.
The compute-to-data feature on this platform allows data sharing while at the same time preserving privacy. $OCEAN also unlocks the data value with the Ocean Protocol Market.
Upcoming Parachain Auctions
What are parachain auctions?
Kusama and Polkadot are designed around two types of blockchains:
- Relay chain. It is the main network where transactions are finalized.
- Parachains. These are custom blockchains that are anchored to the relay chain. These parachains use the relay chain’s resources to confirm that transactions are accurate.
The networks use Parachain Slot Auctions to fairly determine which blockchains get leverage on the Kusama or Polkadot relay chains. Both Kusama and Polkadot can support up to 100 parachains currently, but the number can be changed through governance voting.
$KSM and $DOT holders can bond their cryptocurrency in support of projects they believe should receive a parachain slot. Such a project may, in return, commit to airdrop its tokens or offer any other rewards to the supporters.
Candle Auction Theory is applied during parachain auctions. It essentially means that there is an element of randomness as the candle can extinguish at any time. Projects are thus moved to present their best bids early instead of waiting for the last-minute rush. This approach leads to more accurate price discovery.
$DOT Parachain Auction Schedule
Motion 118 has two batch calls that have already been submitted to the Polkadot Council to begin auctions on November 11th, 2021. If approved, the auction schedule will be as follows:
$KSM Parachain Auction Schedule
The Kusama Council recently passed Motion 377 to schedule the next 48 auctions. The 12th auction started on 23rd October 2021 on block #9,777,777 and this will continue on a weekly basis for the next 48 weeks. However, unlike previous auctions, the winning parachains will not be onboarded immediately but will have to wait until the start of the next lease period.