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Produced by the Polkadot Ecological Research Institute, it must be a boutique (the article is very long, it is recommended to collect it first and then read it)first level title。
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On July 25, 2022, Aptos completed a new round of financing worth US$150 million, while another public chain project, Sui, was seeking at least US$200 million in Series B financing at a valuation of US$2 billion during the same period. A $140 million funding round led by FTX. At the end of June, a Layer1 blockchain called Linera announced the completion of a $6 million seed round led by a16z.The reason why these three projects are discussed together is that the founder teams of these projects are members of the Diem and Novi projects under the Meta company.。
Therefore, these three blockchain projects are also called Meta public chains
Among them, Aptos and Sui are both developed using Move. Unlike the Solidity language for blockchain smart contracts, Move is a Rust-based programming language designed for secure resource management and verifiable execution on the blockchain.
Move is committed to becoming the Javascript of Web3, enabling more developers to quickly build blockchain products. The three can be considered as Move-based public chains.
As the earliest and most famous project among the three projects, Aptos has two rounds of financing amounting to 350 million US dollars. The participants include a16z, Coinbase, Tiger Global, Binance and other top-tier capitals, and its ecology is developing rapidly.
In addition, Cosmos, an interoperability-focused blockchain network, released a new white paper that significantly expanded the utility of the Cosmos Hub, gaining a good amount of buzz for a while, and marking the Cosmos Hub as an infrastructure service. The platform transitions to the next stage.In the last quarter of 2022, Polkadot officially announced the top ten development themes and their launch time, so this article will introduce and briefly analyze the ten development themes。
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Analysis of Ten Development Themes
asynchronous support
"Asynchronous support" is a set of optimizations for parachain consensus that will allow parallel chains and relay chains to build blocks at the same time, and it is also a large-scale upgrade across runtime, network protocol, and collator logic.
According to the latest roadmap published on Polkadot’s official blog, it is expected that asynchronous support will be deployed on Kusama by the end of 2022, and will be deployed on the mainnet subsequently.This feature can reduce the 12-second block time of the parachain to 6 seconds, which means that transactions executed on the parachain have lower latency and faster finalization
. Additionally, asynchronous support also increases the amount of block space available per block by 5-10x, and allows parachain blocks to be "reused" if they didn't make it to the relay chain on the first attempt.
This major scalability improvement will increase the amount of work each parachain can do and optimize network performance allowing more parachains to register.
This update will bring the total TPS capacity of the network to between 100,000 and 1,000,000 without compromising the security of the network. The performance optimization of the parachain will also make Polkadot's parachain more likely to become a DAppChain that some DApps use as the underlying infrastructure.
Parathread/Next Generation Scheduling
But for those projects that want to join the Polkadot ecosystem but do not have enough funds, or do not have their own community for crowdfunding, the mechanism of competing with other projects to win slots is still a high threshold.
therefore,Parathreads open up the parachain paradigm, any development team can access the relay chain and create their applications through parathreads。
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Parathreads are pay-as-you-go parachains that enable easy launching of smart contracts to start a blockchain. And the parallel thread can also start and run without waiting for the next Auction, and can also do anything except upload the code to the relay chain and start some collator nodes.
Additionally, parathreads allow for seamless upgrades to parachains with guaranteed capacity, even while running, parathreads can participate in parachain auctions and upgrade to full parachains. For professional teams that iterate and fix quickly, as well as hackathon participants, parathreads help the rapid development of the blockchain developer ecosystem.The ongoing research and development work of Polkadot is called Next-Generation Scheduling.。
Next-gen scheduling is about parathreading: the ability for parachains that win slot auctions to "increase" the amount of block space and execution time they can access
This is a category of protocol changes aimed at making Polkadot the most efficient marketplace for block space by allowing parachains and parathreads to adjust the amount of consensus resources they use according to their own requirements.
Parachains and parathreads should be able to save on consensus and security costs by avoiding paying more than they need to. Additionally, this will ensure that these resources are available for purchase by other chains, increasing the efficiency of the network overall.
The delivery of parathreads will also mean that many initial project parties will no longer be limited by the higher auction costs of the Polkadot parachain, and will achieve a lower threshold access mechanism, which will allow more teams to join the Polkadot ecosystem middle.
XCMv3
Polkadot plans to launch Next-Generation Scheduling in the first or second quarter of 2023.
XCM (Cross-Consensus Messaging) is a common language for cross-chain communication, which allows the system to reach a consensus so that each other can understand each other before. It is important to note that XCM is a format for sending messages, it cannot actually send messages.XCM can be used inside or outside the Polkadot ecosystem, combined with the transport protocol XCMP-Lite (aka HRMP) or other future transport protocols
, which can be used for secure and trustless communication between parachains.
For example, XCM messages can be sent to other applications and base layers through the parachain-to-parachain HRMP channel, between the relay chain and the parachain, and outside the Polkadot ecosystem. It can also be used for specific operations, asset transfers, asset transfers, etc.
The expansion of XCM is critical to the impact in the multi-chain future, so this feature is already used in the Polkadot ecosystem, and the third major version is being released. Gavin Wood once announced on Polkadot Decoded that XCM V3 will be the next generation of XCM.With the release of XCMv3, parachains and the contracts and applications deployed on top of them will benefit from additional functionality
. Includes support for bridges, such as to external networks, and also improves fee payments for operations, NFTs, and APIs for querying and calling modules on other chains.
XCM V3 depends on Weights V2, whose vision is:
Help communicate information about temporal integrity and security;
Bridge Polkadot and Kusama;
Connect to another network using XCM;
Build rich applications across shards, parachains, and entire ecosystems.
FRAME：Weights V2
Polkadot uses a weight-fee model instead of a gas metering model, where the weight is a fixed number used to manage the time it takes to manage a validating block. Therefore, a fee is charged before the transaction is executed, and when the fee payment is completed, the node will execute the transaction.
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Since the early days of Ethereum, there has been ongoing discussion about the concept of "gas" payment, which is expected to become multi-dimensional to accurately reflect the use of different types of resources, and thus more accurately set and adjust fees.And Polkadot is now using Weights V2 to realize these ideas,。
Weights is a mechanism to measure Substrate transactions and operations based on block capacity. Weights V2 introduces the concept of multidimensional weights, which not only measure execution time, but also measure the amount of state accessed by a specific operation
The amount of data required to validate a particular parachain block is a key determinant and must be limited to a size accepted by the Relay Chain's on-chain configuration.
Essentially, Weights V2 makes the Substrate runtime more suitable for a stateless client-side approach, so this marks a key step in using Substrate to easily write parachains (and other types of rollups). This is also the predecessor of XCMv3.
Polkadot's ideas about transaction fees will become a reality, and Weights V2 will be put into use in mid-October 2022.
governance reform
Polkadot has always been at the forefront of exploring on-chain governance in the blockchain industry, and many of its design ideas have been imitated by many projects. In the early stage of Polkadot, officials participated in the early governance of Polkadot treasury through the establishment of a council and technical committee.
In order to further strengthen the management and iteration of on-chain governance, Polkadot officially proposed Polkadot’s governance version 2.0 this year, namely Governance V2.
Governance V2 is the next step in making Polkadot's on-chain, binding decision-making process as decentralized as possible。
pictureAbout Governance 2.0, you can refer to this article "》
Gavin's own handwriting | Gov2: Polkadot's next-generation decentralized governance
This article is very long. In order to facilitate your better understanding, we have sorted it out and sorted out the ideas of Governance 2.0.
First of all, the core idea of Governance 2.0 is to improve the efficiency of governance so that more proposals can be passed, and at the same time lower the threshold so that people can participate in governance more easily. On this basis, some security mechanisms have been added to improve the protection against bad proposals The fault tolerance rate also ensures the flexibility of governance, and the last point is to make governance more decentralized.1. Governance 2.0simplifyto only the part of the referendum, so that；
lower the threshold
2. Regarding the function of "source and track" introduced in Governance 2.0, if we understand it from the company's logic, it can be seen that any decision in the past needs to be made by the general manager, but this is very inflexible and will already be very difficult. Takes energy and time.It is now possible to use this functionDifferent categories of treasury proposals are divided into different sources according to the weight of the category, and then executed with different permissions
, just like some relatively small things, now only need to be determined at the level of the director;
3. The current referendum can also implement multiple proposals with different weights at the same time because of the "source and track" function mentioned in the second point above, which can speed up the referendum progress of the proposal and improve the efficiency of governance;4. For proposals with different weights, the time period and requirements for "decision and confirmation" are also different.；
The more important the proposal, the higher the confirmation time and the longer it will be, which is conducive to allowing more low-weight proposals to be passed faster5. After the proposal is approved, there will be an implementation period, and the proposal will not be implemented until after the implementation period. The purpose of adding the implementation period is equivalent to formulating an implementation period for the proposal.Hesitation period
, to ensure that there is sufficient time to prepare for any changes that the bill may bring;
6. In Governance 2.0, a special operation that can be intervened is added, called cancellation proposal. Occasionally, a proposal that has been voted on (and may already be about to pass) contains obvious problems, and this action can be used to reject the referendum regardless of the state of the referendum at the time. This adds an error correction mechanism to Polkadot's governance.
7. In the face of a large number of proposals, not all users have enough time and professionalism to judge and vote. Therefore, in Governance 2.0, the initial "voting delegation" is improved to "multi-role delegation", allowing users to Proposal source, entrust your voting right to this source to other people or organizations to vote for you (here only the voting right is delegated, and the Token is still managed by the user).
There are specializations in the technology industry. For example, some referendums that require professionalism can allow more professional organizations to vote for ordinary users, thereby avoiding the problem that group decisions do not conform to professional judgment.
8. The Root source in the proposal is the type required for upgrades, repairs and remedies, but it must have the ability to destroy and destroy the system at will, so its security requirements will be very high, so the governance cycle of this type of proposal will also longer.
While the time frame for this type of proposal has been extended enough to secure it, there are rare instances where fixes, upgrades, or remedial logic will need to be rolled out in a shorter amount of time. In view of this important and special situation, it will be very slow to go to the referendum.Therefore, Governance 2.0 will introduce "Experts agree that:This operation is both safe and time-critical" to expedite the process of this particular motion
. To ensure that this is carried out, Fellowship and whitelist are needed. 9. Fellowship is a basically autonomous expert body whose main goal is to represent people who are proficient in Polkadot network and protocol technical knowledge base. Unlike technical committees in previous governance, it has a broader membership and a much lower barrier to entry, which is also a way to make governance 2.0 more decentralized. To help ensure high-quality collective decision-making, its members are associated with ranks.10. Fellowship has introduced a hierarchical system, which also allows its members to have different weights. In order to ensure that some situations will not occur,：
Fellowship established three principles
①A Fellowship must not have too much power over the network: it cannot change parameters, perform remediation, or move assets. With regard to network governance, its only power is to shorten the time for conducting referendums.
② Hierarchy systems and weights must be designed accordingly so that we don't expect a small group of people to capture and control the overall decision-making ability. The weight should not be so high that the opinions of a small number of higher-ranking members are insurmountable, that is, the opinions of enough ground weight can be opposed to a small number of high-weight people.
③Fellowships should be designed to increase and develop their members and their level of expertise, and to ensure that their overall decision-making capabilities become stronger over time, allowing those who can play a greater role.11. The final realization is through the introduction of "Whitelist module
An on-chain logic of ". It allows one origin to elevate the authority level of another origin to perform certain operations.
For example, it allows Fellowship to authorize a new source (we'll call it Whitelisted-Root) to execute with Root-level privileges. To understand it in an easy-to-understand way, it is as if it allows the expert group to grant "expedited processing" authority to a certain bill, and the bill will shorten its voting cycle to achieve the effect of a quick referendum.
This allows the special case mentioned in point 8 to be resolved without affecting the way the referendum system works. The new governance system is scheduled to be deployed on Kusama in early Q4 2022 (likely when the runtime is upgraded to v.0.9.30).
collective parachain
Previously, the Parity team had been busy testing a new parachain for the collective. On October 4, Joe Petrowski, a member of the Polkadot Council, initiated a community discussion on Polkadot’s ecological governance platform Polkassembly. ) public interest parachains to collect opinions.firstThe new proposal of Polkadot governance introduces Fellowship as a new collective, which inherits the technical committee
, while also having more members to represent technical contributors to other Polkadot protocols, it also allows "expert groups" to express their opinions on highly privileged proposals they are good at.
The second is that the collective under development is the Polkadot Alliance (Polkadot Alliance). It will also be the first collective to launch.
Once approved by the Polkadot Network, the Polkadot Alliance will become an on-chain industry collective that develops ethical guidelines around brand use, fraudulent activity, and harmful behavior, while also supporting those teams that actively contribute to the growth and success of the Polkadot Network. Provide recognition.The new parachain Polkadot Collectives is currently undergoing final testing, and this parachain will become the location of many collectives providing services for the Polkadot network
Bridger Hub
In addition to the interoperability between various parachains within the Polkadot ecosystem, the cross-chain between Polkadot and other ecosystems has also attracted much attention. Prior to this, the official has entrusted multiple teams to carry out research and development in this area.
picture<>For example, Parity's bridge team is already in Polkadot<>Worked on the development of the Kusama bridge for a while and is about to start its launch process; as another example, the Snowfork team is focused on developing Polkadot
Ethereum bridge.With the progress of research and development, the idea of only making a bridge has been iterated to make a bridge hub (Bridge Hub).Bridge hubs can support bridging with many other consensus systems, so Ethereum bridges like Snowfork can be launched on Bridge Hub
. The bridge hub is also one of the public interest parachains that the Parity team is working hard to promote.
Briefly sort out a few key points of the bridge hub: 1. It is a public interest parachain that can support bridge links of other consensus systems.
Two, it requires XCMv3 support, when XCMv3 goes into production, the bridge will be ready. 3. This official bridge hub will not affect other bridge projects. It can be regarded as a state-owned enterprise and a private enterprise. Other bridge projects have their own business models and will serve themselves, while the official bridge focuses on the improvement of basic functions.
The launch plan of Bridge hub is under development and is expected to be launched before the end of 2022. At that time, on the one hand, Kusama and Polkadot will be officially connected, and Kusama will also change from a canary network to Polkadot's secondary relay chain, which is the first step in opening Polkadot's infinite scalability. A wave of small bonuses for Kusama.At the same time, Kusama Network can also join Polkadot's collective parachain as a member.。
On the other hand, Polkadot will also officially open a bridge with Ethereum, which will inject more ecology and fresh blood into Polkadot
However, the opening of the bridge will not bring direct changes quickly, especially when the economic situation is not good. Impact.
Nomination Pool & Fast Release
When Ethereum just switched to PoS consensus, Polkadot has already explored more in the direction of PoS consensus. Polkadot not only uses NPoS, which is more fairly distributed than the PoS consensus mechanism, but also explores how to maximize the overall Staking on the network. Due to current runtime constraints, Polkadot can only easily handle 22,500 nominators in the election set.
However, there is currently a minimum balance requirement for participating in nominations. People with low balances cannot participate in Staking. Therefore, in order to allow more people to participate in Staking, the official launch of the nomination pool allows users to participate in staking without permission. without creating a staking “pool” that others can join.This means that nominators with smaller balances can finally participate in Polkadot’s Staking by participating in the “pool”
Nomination pools are designed to be infinitely scalable, meaning there is no technical limit to the number of nomination pools and members that can participate in it. In the near future, it will be implemented to add a fast unstaking function to the staking system to help those nominators who have not received rewards migrate to the nomination pool.
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The emergence of the nomination pool will theoretically increase Polkadot’s Staking ratio, and Polkadot’s Staking is closely related to inflation.
When the Staking value is the best Staking ratio, which is exactly 50%, Polkadot’s inflation will be 10%, but if the Staking ratio is less than 50% or greater than 50%, Polkadot’s inflation will be less than 10%, and the distance from 50% The larger the gap, the smaller the inflation will be.。
The current inflation rate of Polkadot is about 7.6%. When the nomination pool attracts more people to participate in Staking, the inflation rate of Polkadot will be further reduced
Staking Dashboard
The nomination pool is a major upgrade to the Polkadot staking system. It has been launched on Kusama in June 2022, and more than 64 nomination pools have been created so far.
With the merger of Ethereum in September this year, Ethereum also switched from the PoW consensus to the PoS consensus, but Ethereum has already played the Staking economy through Lido and Curve.
At present, Lido and Curve rank among the top three TVL in Ethereum DeFi, which shows what effect the Staking economy will bring. Polkadot is also a huge PoS system, and we should also pay attention to the development of the Staking economy on Polkadot.https://staking.polkadot.network/
Officials are also very aware of the significance of Staking to Polkadot, so Parity Technologies has specially developed a Staking Dashboard:In addition to the work of expanding the functions of the Staking protocol itself, it is also possible for end users and ordinary users to access and use Staking easily and conveniently,。
The Dashboard allows users to explore and nominate validators, and view metrics about their staking rewards
Staking Dashboard intuitively reflects the situation of staking to users, and cooperates with the nomination pool to further expand the number of pledgers.
There is not much to interpret about the Staking Dashboard itself. However, Parity Technologies revealed that this is the first of many products they are developing. On the contrary, it is worth paying attention to this news, which means that there are more products worth looking forward to in the future. roll out.
After all, Parity has launched many useful products in the Ethereum period before, and its ability to produce excellent products is beyond doubt. Since it was commissioned by the Web3 Foundation to develop Polkadot, it has been busy with the research and development of Polkadot itself, and this time , They finally freed up to make products for Polkadot, which will be very worth looking forward to.
Disputes Slashing
Previously, in order to ensure that the function was launched as soon as possible, Polkadot was tolerant to some mistakes made by nodes. In order to promote the early launch of Polkadot's parachain protocol, in the early initial version, the protocol did not support Slashing logic, that is, nodes will not be punished.but。
Therefore, Polkadot is about to start disputes slashing. Verifiers who submit invalid parallel chain blocks in the future will be punished for all their pledges, and verifiers who generate wrong disputes will be punished by a small amount.
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Dispute punishment is estimated to be ready to go online by the end of 2022.
postscript
postscriptIn fact, Polkadot's biggest technical difficulty-the parachain has been launched, but this is not the complete body of Polkadot, and there are still many small technical infrastructures that need to be built.。
Through the ten development themes this time, we can actually feel that Polkadot is trying to fill many technical gaps and make Polkadot into a more complete state
Of course, we also fully understand everyone’s anxiety, especially seeing the recent hot status of Move-based public chains such as Aptos, and worrying whether Polkadot will be affected.
In fact, the problem is still the same. The positioning is different. The positioning of Aptos’ high-performance Layer 1 public chain is in competition with the current positioning of Solana. There are indeed many Aptos projects that were developed by Solana’s developers in the past.
The positioning of Polkadot is unique. Even if Cosmos has the same Layer0, it cannot be said that it is an either-or state with Polkadot. Just like the relationship between Android and iOS, each has its own positioning. How much impact the new Layer1, which is too nervous, will have on Polkadot.
In addition, Dr. Gavin's resignation as CEO of Parity has aroused discussions among many friends who follow Polkadot.In fact, Dr. Gavin was temporarily replaced after the previous CEO left, and the job of the CEO is more inclined to do management and business.。
Dr. Gavin's resignation this time has made him more relaxed and has more energy to think about the future of Polkadot. From this point of view, it is actually a good thing for Polkadot
I also believe that in the future, more companies will cooperate with Parity to launch more application chains based on Substrate. The future development of Polkadot is even more exciting.
The Polkadot network is booming and ecological projects are emerging one after another. The Polkadot Ecological Research Institute focuses on Polkadot ecological trends and grasps current trends. reply*The information provided by the Polkadot Ecological Research Institute does not represent any investment hints. The published articles only represent personal opinions and are for reference only. Since there are no policies and regulations related to digital assets in China, users in mainland China are requested to pay close attention to the development of Crypto.。
*The information provided by the Polkadot Ecological Research Institute does not represent any investment hints. The published articles only represent personal opinions and are for reference only. Since there are no policies and regulations related to digital assets in China, users in mainland China are requested to pay close attention to the development of Crypto.
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