Polkadot to debut parachain auctions after governance vote

13 Oct 2021

Polkadot to debut parachain auctions after governance vote

Polkadot (DOT) has laid out a schedule to debut parachain auctions on Nov. 11 following unanimous approval from the blockchain’s on-chain governance council members. The news marks a landmark achievement as it fulfills the final core technical element of the whitepaper published five years ago. Parachains are uniquely distinctive layer-1 blockchain platforms that operate laterally alongside the main Polkadot network, in addition to being tethered to the Polkadot Relay Chain. Their purposeful function can be witnessed across a multitude of areas from decentralized finance to smart contracts.

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