Polkadot’s canary network Kusama achieves milestone with first Agile Coretime sales News โธ Polkadot โธ Technology
Polkadot’s canary network Kusama achieves milestone with first Agile Coretime sales
Observers explained that Agile Coretime would enable amore efficient and flexible access to Polkadot's computational resources.
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Updated: May. 2, 2024 at 4:01 pm UTC
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Kusama, Polkadot’s canary network, recently marked a significant milestone by selling its inaugural batch of Agile Coretime.
Reports revealed that three cores were sold for a total of 70 KSM, worth approximately $1,980โeach core was sold at an average price of 23.4 KSM, roughly $660.
Coretime allows developers to buy up to 4 weeks or 28 days of uninterrupted blockspace for their app chains. Alice und Bob, a Polkadot enthusiast, explained that more cores will become available as the traditional auction model stops and more parachains transition to coretime.
Echoing these sentiments, Parity Technologies, developers of the Polkadot blockchain, expressed excitement, noting that the sales were “an important development in the roadmap of bringing AGILE CORETIME to the Polkadot mainnet.”
Agile Coretime
According to Parity:
“Agile core usage and coretime allocation will allow any application to access Polkadot’s computational resources based on their precise requirements, without letting valuable blockspace go to waste. Scalability will follow as space is freed up, maximizing the volume of utilized coretime.”
Gavin Wood, the founder of Polkadot, explained that the model would revolutionize resource allocation within the network, introducing a novel approach to blockspace allocation.
According to him:
“The monthly sale of ‘core time’ enables developers to scale block space as needed, while the ‘pay as needed’ option allows for on-demand access to resources. This newfound flexibility has the potential to unlock innovation, increase capacity, and improve resource management within the Polkadot ecosystem.”
Meanwhile, this update arrives at a crucial time as Polkadot gears up for the introduction of the Join-Accumulate Machine (JAM) upgrade. Observers have explained that this upgrade would allow Polkadot to become a multi-core world computer capable of handling any service without scalability or security issues.
Disclaimer: CryptoSlate has received a grant from the Polkadot Foundation to produce content about the Polkadot ecosystem. While the Foundation supports our coverage, we maintain full editorial independence and control over the content we publish.
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Oluwapelumi Adejumo
Oluwapelumi values Bitcoin's potential. He imparts insights on a range of topics like DeFi, hacks, mining and culture, underlining transformative power.
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Polkadot development is on track to deliver the most robust platform for security, scalability, and innovation.
Parity Technologies
Parityโs mission is to enable businesses and organisations to capitalise on blockchain technology and benefit from the new opportunities it presents.
Gavin Wood is the former Chief Technology Officer and co-ยญfounder of the Ethereum Project.