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Polkadot Weekly Observation, is a summary of what happened to Polkadot’s entire ecology last week, and we will also share some of our observations on these events in the form of vernacular.This article is intended to provide information and opinions, and does not endorse any project.Any project mentioned is not for investment recommendation, but for information display only.
1. Observation and opinion
1. Why is Polkadot unable to launch Statemine?
Last week, according to the plan, Shell, which should have been the first parachain, would be upgraded to Statemine. However, it has been a long time since the upgrade, everyone must be very anxious. In fact, there was a small episode. On May 24, the Polkadot node failed due to an out-of-memory (OOM) error in block 5202216. The official delayed a little time to fix this problem. We need to understand the official. After all, what Polkadot is doing now is more complicated than all previous blockchains, and no one has ever done it. Polkadot took 20-50 (depending on how to count) expert developers three years to have a fully functional version of the parachain, while Ethereums full functionality only took Gavin and Jeff a few weeks time.
Therefore, it is like building a small house with a brick-concrete structure in the past, but now it is necessary to build a building with a reinforced concrete structure, and it is the first time for humans to use a reinforced concrete structure to build a building, so the difficulty is imaginable. On the other hand, we should look at Polkadots current schedule with an inclusive attitude, because what Polkadot has done is an area that has never been done before, so for Polkadot, we must be careful every step we take. Naturally, it is not possible to calculate a more accurate time like our house repair period, because in reality house repair is already a very mature technology, and there are plans and various methods in advance for how to solve any situation. But Polkadot is different. Its update iterations need to be implemented at each step, and then observe whether Polkadot is running normally. If it is running well, it will be updated in the next step. Of course, this is an ideal state. But in more cases, there is a small problem in the operation and needs to be improved, and then observe whether it can still run well, and then adjust if there is a problem until it can run well.
Therefore, the Polkadot official does not intend to delay the rhythm, but out of rigor, the function must be released only after there are no problems, which is also responsible for all people participating in Polkadot.
Last week was also the first anniversary of Polkadot’s mainnet launch. It is still very young. Compared with other mature projects, its rhythm is different. It is still in the process of gaining momentum. Ethereum was still in its infancy when it was launched for one year , so, dont worry. At present, the Shell chain is running well, and the upgrade of Shell to Statemine should be very fast, just wait patiently.
2. Ethereum’s EVM and Polkadot’s WebAssembly are not either-or
Last week, Polkadot founder Dr. Gavin was invited to participate in CoinDesks 2021 Consensus Conference. He acknowledged the status of EVM in todays blockchain development, but also showed that EVM and WebAssembly are not either-or. EVMs historical status and role, but also to explore the possibility of the next step, and this possibility for him is WebAssembly.
The full name of EVM, The Ethereum Virtual Machine, is also the Ethereum virtual machine, which is the part that carries the smart contract. Most of the current popular DeFi applications are built around EVM to build smart contracts. Therefore, many emerging public chains, such as BSC, Heco, OEC, NEAR, etc., also attract Ethereum developers to their own by supporting EVM. Ecology.
But EVM is not the best solution. It itself is a basic solution developed by Dr. Gavin during Ethereum. At that time, there was no suitable and mature solution, so we had to invent an EVM first. But now, WebAssembly technology has gradually matured (WebAssembly is a software format, referred to as WASM), and some mainstream public chains have also begun to support WASM (such as EOS). Compared with EVM, WASM has many advantages, such as significantly improved speed and efficiency, and reduces or even eliminates precompilation, which can reduce gas costs. It will also support more languages and have a wider tool set than EVM.
Although the current EVM has many first-mover advantages, Ethereum is also well aware of the shortcomings of EVM and the advantages of WASM, so Ethereum will also upgrade EVM to eWASM (Ethereum version of WASM) in the future. Card layout comes first.
Polkadots thinking is very clear. It not only recognizes the achievements of EVM, so it is technically compatible with EVM (after all, EVM was originally invented by Gavin), but it also needs to look to the future, so Polkadot supports WASM technology more.
If EVM and WASM are regarded as traditional petroleum-burning vehicles and new energy vehicles using electricity, then Polkadot is like the goal of becoming Tesla, but it is currently making hybrid vehicles. In the Polkadot ecosystem, the Patract open platform provides solutions for the development of parachains and DApps in the Polkadot WASM smart contract ecosystem, and is working hard to make Polkadot a better Tesla.
Therefore, when the entire blockchain trend will shift from EVM to WASM, how to grasp the opportunity, you can pay more attention to the movement of Patract.
3. Domestic mining is suppressed, which is good for PoS?
Since the Deputy Prime Minister proposed to crack down on Bitcoin mining and trading last week, domestic miners have fled or considered moving to the field of storage mining. Last week, some mining-related bans and investigations were in progress. I believe that there will be a lot of wind and rain in the future. Whether storage mining will be spared by then is a question. On the other hand, as we mentioned before, China has a legal license in Hong Kong to operate cryptocurrency funds and exchanges, but now there is a tendency to only allow qualified investors to participate in investment, and there may be similar Hong Kong stocks The kind of investment requirements, such as the total of securities account and capital account cannot be less than RMB 500,000. How to specify the specific regulations and whether it will be implemented is unknown, but it can be felt that the domestic policy tends to prevent retail investors from participating and reduce the impact of cryptocurrency. At the same time, in order to achieve the goal of carbon peak and carbon neutrality in China, PoW mining such as Bitcoin, which consumes a lot of electricity, will be suppressed.
Then is it not bright in the east, bright in the west, PoW consumes a lot of energy, and PoS, which basically consumes no energy, is safer? Judging from the domestic policy tendency we mentioned just now, PoS will not be affected in terms of energy consumption, which is a positive for PoS. But another level of tendency is to reduce the financial impact. If the impact of cryptocurrencies is still very large, it is not ruled out that further specific rules will be introduced in China, which will affect all cryptocurrencies. From this point of view, PoS is also Not immune. Therefore, with such expectations, if further policies are introduced later, there will definitely be more severe shocks, and everyone must make good psychological expectations.
The following is the introduction of Polkadot Ecological News last week, please enjoy.
2. Polkadot official news
[Gavin Wood: WebAssembly is the future of smart contracts, but the traditional EVM is now here]
According to CoinDesk, Polkadot founder Gavin Wood delivered a speech at the 2021 Consensus conference, acknowledging the status of EVM in todays blockchain development. EVM has many developers and many software tools that they can use to simplify coding. Other blockchains are catching up to those tools, Wood said, so “it would be foolish to throw those away. But it’s not foolish to start thinking about where the next thing is, which for me is using WebAssembly as a smart contract. WebAssembly is a software format that can be used on the web and can be easily used with many software languages. Its built by major web companies and works on all major browsers.
【Polkadot v0.9.3 officially launched】
According to official news, Polkadot v0.9.3 is officially launched, and the official recommendation is to upgrade nodes as soon as possible. The upgrade introduces code to replace wasm on the Polkadot chain, as well as the code_substitute command. In addition, if the validator was downgraded to v0.8.30 and used the --execution=native command, --execution=native will be removed when upgrading to v0.9.3.
[The problem of the Polkadot node error on May 24 has been resolved]
According to official sources, on May 24, a Polkadot node failed due to an out-of-memory (OOM) error at block 5202216. This block contains the validator-elected on-chain solution, which is usually computed off-chain and only on-chain if the off-chain solution has not been committed. Due to the high number of nominators, the election overflows the memory allocated in the Wasm environment. In preparation for an update to address this issue, validators are required to temporarily downgrade their node software to a previous version that includes a native (non-Wasm) version of the runtime. The native version is not bound by the Wasm memory allocator. After an hour and ten minutes of downtime, the network was restored. Later, in block 5203204, several nodes failed with a storage root mismatch error. After investigation, this is due to different compiler versions for building the native runtime and the on-chain Wasm runtime. This issue has been resolved and precautions have been taken to prevent future occurrences.
【Polkadot network has been running for one year】
On May 27 last year, Polkadot began to create blocks, and then upgraded from PoA network to PoS network, opened the governance function, removed the sudo module, and then opened the transfer function, and renamed the denomination. Now, the first anniversary has passed, and we are about to launch the most important function of Polkadot. Let us look forward to the parachain slot auction together.
[Polca Weekly: Kusama Runtime has been successfully upgraded to v9030, and Shell is currently running stably]
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3. Big ecological news
【Zenlink will launch Zenlink SlotVault】
According to official news, Zenlink, the Polkadot ecological cross-chain DEX protocol, launched Zenlink SlotVault, a smart pool product. Zenlink SlotVault is a machine gun pool product created by Zenlink to provide support for more parachain project auction slots and meet the needs of more non-parachain projects to participate in Polkadot parachain slots. This product will allow users to independently choose the allocation of funds to participate in the Crowdloan of each parachain project according to the income, so as to obtain multiple token benefits provided by the crowdloan initiator and its supporting projects, and encourage more users to participate in the Crowdloan of parachain projects. Loans to improve the success rate of bidding slots for parachain projects.
【Apron Network Releases Kusama Parachain Slot Auction Plan】
Apron Network announced that it will participate in the Kusama slot auction, striving to provide infrastructure services for the Polkadot ecosystem as soon as possible.
Kpron Network is a test network deployed by Apron Network on the Kusama network. Token KPN, KPN will be distributed by Apron Network to issue a part of tokens on Kpron Network, and 1:1 mapping, that is, 1APN=1KPN, Apron’s token economic model Will not change, the total amount will not change.
【Cycan joined the Patract open platform and used Redspot to greatly promote the development progress of the project】
Cycan Network and Patract Labs have reached a strategic cooperation. At the same time, Cycan announced to join the Patract Open Platform to jointly promote the construction of public infrastructure and the evolution of contract technology, and develop the Wasm contract development ecosystem.
【UniArts ecological application Onigiri MikoShi rice ball secret painting is officially launched】
UniArts launched the ecological application Onigiri MikoShi rice ball secret painting, which will provide digital publicity and derivatives trading services based on NFT technology.
[CoinAsk, a paid question-and-answer community under OpenSquare, has fully launched a high-quality content incentive plan]
OpenSquare is an application-oriented blockchain product of Polkadot Ecosystem focusing on decentralized collaboration and credit building. CoinAsk is a paid question-and-answer community under OpenSquare, which supports DOT/KSM recharge. OpenSquare welcomes project parties and blockchain content creators to settle in CoinAsk.io and continue to output high-quality content. OpenSquare will give a lot of targeted incentives.
[Shiden Shell chain has been deployed locally]
Shiden Network, the canary network of Plasm Network, tweeted that the Shiden Shell chain has been successfully deployed locally. Technically, the team is ready to release the Shiden Shell chain on the Kusama network.
[OAK Network won the support of Web3 Fund to build the quadratic voting module]
OAK Network is a blockchain technology company located in San Francisco, focusing on the underlying blockchain and smart contract engine innovation. A few days ago, OAK Network has successfully obtained grant funding from the Web3 Foundation. It is reported that this round of grants will be mainly used to build innovative crowdfunding modules for the Polkadot network, and OAK has been realized as the first project supported by the Web3 Foundation. milestone.
The purpose of this grant is to implement quadratic voting, which is the common acronym for Constrained Liberal Radicalism Algorithm (hereafter referred to as CLR).
[Polkadot cross-chain oracle Paralink Network integrates Polygon]
According to official news, Polkadots cross-chain oracle machine Paralink Network announced the integration of Polygon, an Ethereum expansion solution, which will provide data feed prices for its chain. By providing a multi-chain oracle solution, Paralink allows users to benefit from its on-chain consensus algorithm running on Polkadot Substrate.
【Privacy DeFi Protocol Manta Network Joins Polkadot DAO Alliance】
Manta Network is a plug-and-play privacy-preserving parachain designed to provide privacy services for the entire DeFi network. The Polkadot DAO Alliance actively promotes the construction of Polkadot and wider ecological decentralized governance applications and infrastructure, and constantly explores new paths for DAO governance, with the ultimate goal of Web3.0 to achieve true decentralization.
【Continuum Finance, Polkadot Ecological Project: Lightning Loan and Liquidity Pool Tested Successfully】
Continuum Finance, a Polkadot ecological project, tweeted that the flash loan and liquidity pool have been successfully tested, and the platform will be launched soon.
[Polkadot smart contract platform Moonbeam releases Moonbase Alpha v8 version, newly added setting minimum gas fee]
According to official news, Moonbeam, an Ethereum-compatible smart contract platform on Polkadot, announced that it will upgrade its developer TestNet to Moonbase Alpha v8. This was the last major update to Moonbase Alpha before the release of Moonriver (i.e. Kusamas deployment of Moonbeam). In this version update, the Moonbeam team has increased the stability of debugging and tracking nodes, set a minimum gas price, completed the initial implementation of the parachain pledge function, and included multiple other components required for the release of Moonriver.
[Darwin Pioneer Network Crab announced that it will participate in the Kusama Parachain Auction]
According to official news, Crab announced that it will participate in the Kusama parachain auction and use crowd lending to bid for slots, which requires participants to lock their KSM in Crowdloan for 48 weeks. Participants will receive CRING, RING, NFT, and BTC as rewards. 30% of the prize pool will be released immediately after the auction ends, and the remaining 70% will be released within 48 weeks.
[Polkamarkets cooperates with the chain incentive protocol DAFI to support synthetic token incentives]
According to official news, Polkadot ecological DeFi and prediction market Polkamarkets have reached a cooperation with the chain incentive agreement DAFI Protocol to realize synthetic token incentives. This partnership will help explore the possibility of using DAFI synthetic tokens on the Polkamarkets prediction market platform. Polkamarkets will use DAFI synthetic tokens as a reward system for long-term users.
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4. Ecological investment and financing
[Polkadot cross-chain NFT protocol DNFT received a million-dollar financing, LD Capital and others participated in the investment]
Polkadots cross-chain NFT protocol DNFT announced that it has completed a million-dollar financing. This round of investment institutions includes LD Capital, Candaq Fintech Group, Waterdrop Capital, 7 Star Capital, GD Capital, 1PAR, InnCube Crypto Capital, Win Capital, ChainUp Capital, etc. home institution.
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5. Ecological cooperation
【Zenlink SlotVault will be deeply integrated with Bifrost SALP to provide the first liquid derivatives mining product for slot auctions】
Zenlinks PLO is mining smart pool product Zenlink SlotVault will be deeply integrated with Bifrosts slot auction derivatives solution SALP to provide the first liquid derivatives mining product for slot auctions. At that time, users pledge KSM/DOT in Zenlink SlotVault DApp to participate in Bifrost crowdfunding, not only can obtain a variety of benefits including parachain tokens, but also release the liquidity of KSM/DOT locked in auctions, providing users with the largest Crowd Loan Proceeds!
[Polkadot middleware platform Apron Network and Idavoll Network have reached a strategic cooperation]
Apron Network has reached a strategic cooperation with Idavoll Network. As a middleware-focused service platform, utilizing a decentralized cross-chain DAO protocol like Idavoll Network will enhance the communitys ability to access its governance and protocol upgrades. Idavoll Network is the first and only cross-chain DAO protocol that allows users, tokens and dApps (decentralized applications) in different blockchain ecosystems to interact with each other. The Idavoll Network provides a framework for real-world organizations on the blockchain to resolve disputes and act as governing bodies.
【SubDAO has reached a cooperation with PlatON, a privacy AI computing network】
SubDAO announced a cooperation with PlatON, a private AI computing network. The two parties will jointly realize the integration and interoperability of the two ecological domains of SubDAO and PlatON through multi-dimensional technical and ecological cooperation. Through this cooperation, SubDAO will provide PlatONs ecological projects with DAO organization management tools, member management, voting management and asset management, and help PlatON better complete the Github-based Grant review process through SubDAOs Github OCW off-chain worker automation.
[Polca Ecology NFTMart and Silver Wing Culture have reached a strategic cooperation]
Recently, Polkadots ecological NFT trading platform NFTMart announced a strategic cooperation with Silver Wing Culture. NFTMart will work with Silver Wing Culture to discover young directors and explore innovative models of sci-fi films in the form of NFT+. Silver Wing Culture, as an initiator of cultural activities themed on sci-fi movies, has resources for the creation of sci-fi, fantasy, film and television and other art forms. Most of NFTMart users are blockchain enthusiasts, investors, and heavy fans of science fiction movies. The user groups of both parties have a very high degree of overlap. NFTMart will join hands with Silver Wing Culture to launch a sci-fi image NFT collection event, promote the development of sci-fi IP and sci-fi series NFT assets, and bring a new sci-fi and investment experience to NFTMart users.
[Polkadot middleware platform Apron Network and Evanesco have reached a strategic cooperation]
Apron Network will integrate decentralized infrastructure services with the strategy of Evanesco, a multi-chain full privacy platform. At the same time, Evanesco will use the core layer0 privacy protocol technology to provide Apron Network with better privacy security solutions. Multi-chain privacy protocol In the form of SDK, it provides full-link privacy protocol technical support for each blockchain project ecology.
[Polkadots ecological NFT trading platform NFTMart has reached a strategic cooperation with Volcano Films]
NFTMart, the Polkadot ecological NFT trading platform, announced a strategic cooperation with Huoyinghua, a domestic animation development team. NFTMart will work with Volcano Pictures to deeply develop a large number of its Guofeng animation IP through the latest blockchain technology, providing fans with more diversified ways of participation and customized services.
Volcano Films is a film and animation development team with the core driving force of traditional Chinese culture and art combined with modern visual concept design. It also includes a large number of national style animation IP. Volcano Films aims to launch original Chinese-style works with globalization, and conduct in-depth development of the works in the whole industry. In 2015, the first animation work Yipin Sesame Fox was launched and became a popular domestic animation IP with a fan base of tens of millions.
【Polkalokr ecological oracle project Ares Protocol Polkalokr announced cooperation】
Ares Protocol will provide Polkalokr with our oracle asset quotes, enhancing their P2P cross-chain token exchange protocol. At the same time, Ares Protocol integrated the token distribution mechanism into their token locking function.
【Coinversation and Crust have reached a strategic cooperation on decentralized cloud storage】
As a synthetic asset agreement based on Polkadot AMM and DEX, Coinversation Protocol and Crust Network announced a strategic cooperation. Coinversation will deploy and run web pages on Crust, and will also store user data based on Crusts distributed storage.
[Crust Network and Manta Network reached a decentralized storage privacy cooperation]
Crust Network and Manta Network formally reached a strategic cooperation. Manta will build a privacy layer for the Crust decentralized storage network. Crust Network will provide decentralized storage services for Manta.
[Stable Coin Protocol Standard Protocol and Plasm have reached a cooperation to build a smart contract version]
According to official news, the stablecoin protocol Standard Protocol announced a partnership with Plasm. Standard will build a smart contract version on Plasm. Standard will provide oracle information to Plasm from its parachain to generate virtual stocks and virtual commodities. Related synthetic assets .
【Crust Network and Kaka reached a cooperation on the decentralized storage of NFT assets】
Crust Network and Kaka, the worlds top DeFi platform for NFT vertical game value ecology, announced a cooperation to provide a decentralized storage solution for NFT asset content on its game platform. Kaka will help more high-quality IP enter Web3 in the form of NFT .0 game world.
[Polca Synthetic Asset Protocol Coinversation and Tidal, a customizable insurance market, have reached a strategic cooperation]
According to official news, Coinversation Protocol, a synthetic asset agreement based on Polkadot AMM and DEX, and Tidal Finance, a customizable insurance market, announced a cooperation. Tidal will provide insurance services for Coinversation synthetic assets.
In addition to providing users with decentralized financial services, Coinversation will integrate Tidal insurance services to provide users and traders with maximum security. Users can create a vault by selecting one or more contracts. For example, an insurance pool might be a mix of different tokens from different platforms. Pool creators have the option to choose any asset from any platform currently on the market, as well as set coverage periods and leverage, among other things. Through this cooperation, Tidal Finance will expand the scope of insurance coverage and expand the income of users savings assets.
[Privacy DeFi protocol Manta Network reaches cooperation with Polkadot privacy infrastructure Phala]
According to official news, the privacy DeFi protocol Manta Network announced that it has reached a cooperation with Polkadot privacy infrastructure Phala to build a comprehensive Polkadot privacy ecosystem. This cooperation will provide both privacy and computability for Polkadots calculation layer and transaction layer. Manta will provide DeFi functions such as private minting, private transfer and private transaction, and Phala will provide exchange, lending and other functions in a private environment.
【Registration for the 2nd Summer Polkadot Hackathon Competition Open】
【Registration for the 2nd Summer Polkadot Hackathon Competition Open】
Polkadot Hackathon is a developer hackathon entrepreneurship competition in the Polkadot ecosystem, co-hosted by Parity, PolkaWorld and the OneBlock+ community. From July 17th to 18th in Hangzhou, more than 100 developers will be recruited again to combine the theoretical knowledge based on the Substrate framework with practical development to create more innovative products in the Polkadot ecosystem. The winning team will receive generous bonuses, technical and resource support, and truly become a member of the Polkadot ecosystem.
Registration address:
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Thanks to PolkaWorld, the first Chinese community of Polkadot, and Blockchain Knights for their support of this article.
Therefore, we decided to establish a Polkadot ecological group, which can openly discuss all Polkadot ecological projects. Everyone can objectively share their views on each project, understand the development of each Polkadot project, and exchange information to seize opportunities together.
In view of the endless emergence of Polkadot ecological projects, but the inferior projects and scam projects are full of them, it is worthy of vigilance. On the other hand, it is difficult for groups only on the Polkadot project side to understand the whole picture of the entire ecological development of Polkadot, and miss many opportunities.
Therefore, we decided to establish a Polkadot ecological group, which can openly discuss all Polkadot ecological projects. Everyone can objectively share their views on each project, understand the development of each Polkadot project, and exchange information to seize opportunities together.
, reply Join the group, add friends to the group.Polkadot Ecological Research Institute, reply Join the group, add friends to the group.
