Binance to Start Polkadot’s Parachain Slot Auctions

Binance to Start Polkadot’s Parachain Slot Auctions
  • Polkadot is all set to launch its Parachain Slot auctions.
  • Binance extends its support to start the auction upon its platform.
  • Auction to start from November 2021.

The Polkadot (DOT) platform has been on a heavy buzz throughout the crypto and blockchain industry ever since the start of October, 2021. All this hype generated is due to the news of launch of its much awaited Parachain attributes. With extensive research and development of over 5 years finally Polkadot platform announces that its platform is now technologically ready and solid for Parachain adoptions. 

Accordingly the team from Polkadot officially announces the launch of its Parachain technology upon its platform on November 11th, 2021. 

Polkadot’s Parachain Technology

With all the hype and buzz around the so-called ‘Parachain’, let’s take a look into what actually the Parachian is! The parachain technology is a sort of modified and special blockchain which is completely application oriented data structures. 

Moreover, these parachains are global and acceptable to be validated by various validators on all aspects. Also, it enables the multichain aspects upon the Polkadot’s platform, enabling it to connect with numerous blockchains at the same time. 

In addition, the Parachain is termed to consist of various upgrades throughout its time period from its launch. Furthermore, the launch is expected to be from next month along with the auction slots live. 

Besides, technologically evolving, Polkadot is establishing itself with solid foundations which ought to propel the entire ecosystem drastically. 

Binance’s Support

On the other hand, the largest crypto exchange giant, Binance, officially announced its tie up with the Polkadot platform a few hours ago. 

Accordingly, Binance terms it will be supporting the Polkadot platform extensively. In spite of this, Binance will be starting the first auction of Polkadot’s Parachain Slots from November,  2021.

However, this is not the first time Biannce extends its support to Polkadot. Moreover, numerous times before it has been actively playing a part in terms of the technological research and developments of Polkadot’s blockchain technology. 

Also, there’s said to be a total of 11 auctions. These will be starting from November and going on through till March, 2022. 

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A Project Engineer by profession, a writer by passion. Especially into the critics and skeptics on cryptocurrency. His fascination towards the crypto world and his personal experience on it has made him a writer with a taste.