First Kusama Parachain Auction Could Happen on June 15- Gavin Wood

June 9, 2021      Sahaj Sharma

Gavin Wood, the creator of Polkadot and Kusama has recently issued a tentative schedule for the much-anticipated Kusama Parachain slot auction. In accordance with a blog post shared on Tuesday, there is a possibility that the auction could happen by mid-June if the council votes in favor of the schedule published by Wood.

Gavin Wood Says Kusama Parachain Auction to Happen by Mid-June

The blog post shared on Tuesday revealed that the first Parachain auction will be going live on June 15 at 12:00 p, Central European Summer Time. Gavin Wood’s shared tentative schedule is at present, subject to the consent of the Kusama Council and other stakeholders of KSM.

In addition to this, it should be noted that the tentative schedule will be seeing the maiden Parachain auction come to an end by June 17. However, the bidding period will be continued until June 22.

If the tentative schedule is accepted by the council then we can have the first-ever Parachain slot auction winner by 11:00 am on June 22. It will be followed by the second Parachain slot auction which will commence an hour later.

No Technical Hurdles to Hold Slot Auctions 

It was reported back in the month of May that Kusama was finally all set to host Parachains. Providing details about the requirement of getting Kusama Parachains up and running, Wood said:

“Kusama exists as the Polkadot canary network and therefore to help protect Polkadot from a serious issue by allowing functionality to existing in the wild for as long as possible.” 

Continuing the statement, and mention what is good for Polkadot, Wood added:

“Since the amount of protection it gives is in some way proportional to the amount of time it is active prior to Polkadot, there is a clear reason for deploying this logic as soon as possible for the good of Polkadot.”

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#Gavin Wood #Kusama Parachain Auction #Polkadot
Sahaj Sharma
Sahaj Sharma

Sahaj is an aspiring journalist with a keen interest in cryptocurrency and the whole concept of Blockchain technology. He is positive about the future potential of Cryptocurrency and Blockchain in shaping the world of finance for good. At present, he is covering the latest developments in the field of the cryptosphere.