The public chain Polkadot launched a mechanism called "Agile Coretime" on Thursday, which will introduce a flexible block space model and replace the traditional static auction system with a dynamic method that adjusts resource availability according to demand.
A G I L EC O R E T I M ELive and enacted onchain.Sales start next week.In the words of Parity engineer @domuiri, "the possibilities for building and deploying on @Polkadot are more diverse than anywhere else in blockchain." https://t.co/P1nBhqa2qR
— Parity Technologies (@paritytech) September 19, 2024
The Polkadot network is composed of multiple customizable Layer 1 networks (called parachains), which are built on top of a base layer called the "Relay chain". Prior to this, parallel The chain team must first obtain limited parachain slots through auctions before they can share the security of the Polkadot network and interact with other parachains. The slot auction requires locking a large amount of Polkadot's native token DOT.
According to the introduction of Polkadot Chinese community PolkaWorld, Agile Coretime is a brand-new parallel chain resource allocation mechanism. Different from slot auctions, "it allows projects to rent network computing resources, that is, cores, through sales." Time (Coretime), thereby simplifying the allocation process. This mechanism is more flexible and eliminates the problems of high costs and uncertainty in bidding.”
This update is part of the Polkadot 2.0 series of upgrades. According to eskimor, lead developer at Polkadot blockchain infrastructure company Parity Technologies, the new feature allows for more efficient use of network resources, reducing waste during periods of low activity and preventing overloading during peak periods.
Agile Coretime is expected to lower the entry barrier for smaller projects by mitigating the large initial collateral requirements. Coretime (the Polkadot version of block space) can be purchased in bulk or based on project needs.
Source: The Defiant, Parity Technologies, PolkaWorld
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