Parachains were previously auctioned on Kusama, Polkadot’s “canary network” for testing and development.
According to the team, it took five years to get to the stage where the network is intrinsically capable of hosting its first parachains.
Polkadot’s multi-chain architecture consists of parachains, the final stage in the project’s lengthy launch timeline.
Polkadot co-founders Gavin Wood and Robert Habermeier stated that the final step before parachains could be published was completing Polkadot’s comprehensive code audit, which has now been completed.
There have been 11 parachain slot auctions on Kusama since early June, and there are presently 12 active parachains on the development network.
Projects wishing to build atop Polkadot must have a crowdfund in which native tokens, KSM and DOT, are staked in an auction.
As an incentive to raise cash for the auction, the project may airdrop its coins. To select the winner of an auction, parachain auctions employ a process known as a candle auction.
The 11 Polkadot parachain auctions will be separated into two groups, with the first five beginning on November 11 with one sale each week.
The second set of six auctions will begin on December 23, with one every two weeks. Those that wish to participate in the auctions must stake DOT, Polkadot’s native token.