Mosaic Chain secured a parachain slot on the Polkadot Relay Chain — securing the rights obligatory for its mainnet launch.
In accordance with a current Mosaic Chain announcement, the community received the rights to be related to the Pokadot (DOT) blockchain for 96 weeks—from July 3, 2024, to Could 8, 2026. The Polkadot Relay Chain will safe the brand new community.
Parachains.information reveals that Mosaic Chain received the 73rd parachain slot by means of a self-funded effort. The public sale web page reveals that the challenge bid 10,129 DOT value over $48,400 to win the slot, simply barely profitable over the subsequent highest supply of $47,800 by Curio Lugano.
Mosaic Chain participated within the public sale with a simplified model of its runtime, which can have new options added as improvement progresses. The event crew expects to launch a take a look at community within the close to future — permitting for the beta testing of latest options, together with a non-fungible token (NFT)-based consensus mechanism.
The upcoming take a look at community will even enable for the refinement of present options earlier than modifications are carried out on the principle community, reducing the danger of disruption after upgrades for the principle community. Moreover, the crew plans to launch its Mosaic Alpha V2 decentralized utility (DApp).
The Mosaic Alpha V2 will enable decentralized portfolio administration by means of Token Baskets, which function tokens from each the Ethereum (ETH) and Polkadot ecosystems. By leveraging the Substrate framework, Mosaic Chain will be capable of assist decentralized on-chain governance, trustless interoperability, forkless upgrades, and lightweight shoppers.
In accordance with the official Mosaic Chain litepaper, the community’s major purpose “is to
present protected and actual [decentralized finance] DeFi options for everybody.” The challenge’s web site additional exacerbates this concept, promising “high-tech DeFi options for you & your grandpa.”
The litepaper explains that a part of the main focus is on offering excessive interoperability with blockchains — each inside and out of doors the Polkadot ecosystem. The doc explains that by leveraging the Substrate framework, the challenge goals to stop any future scalability woes by having the principle Polkadot community validate and finalize all state modifications — spreading the load.
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