TL;DR Breakdown
- Polkadot successfully launches its parachain testnet.
- The protocol announced that the community has to decide on the other features to add to the testnet.
Polkadot testnet makes its first token transaction
When Polkadot laid out its plans for testnet launch, the developers working on the parachain expressed their concerns over certain glitches, which were later fixed. However, today the teams were able to successfully establish a connection for cross-chain message passing transaction (XCMP) between the Polkadot parachain testnet and Acala.
Following the news of the proposed parachain launch some days ago, Polkadot (DOT) inched towards the ATH as price rose more than 15% in just a few hours. Many crypto fans linked the price surge to the news of the parachain testnet launch. Also, in anticipation of the launch, the price of Kusama (KSM) rose by 70%.
However, on Friday the teams were able to transfer the tokens across both parachains using Polkadot testnet. The project launch was made possible by xtoken, which was developed by Acala network to be used between the Kusama and Polkadot parachains.
The future of Polkadot testnet
This development will improve multichain interoperability by lowering transaction costs for users. The tendency of developers to be able to send messages between blockchains holds tremendous potentials for the blockchain industry and is also crucial for the future cross-chain operations.
Polkadot announced some days back that after the successful launch of the parachain, the Polkadot community will have to decide on the next upgrades and features that will be added to the network. Polkadot testnet also added that Kusama multichain network will be used as a supplementary “proving ground” for future parachains.
Acala plans to hold a crowdsourcing event for KSM as well, which will come immediately after Kusama reveals the layout for its crowdloans. Acala also plans to hold a separate crowdsourcing for Polkadot and will use the proceeds to participate in the protocol’s parachain auction.
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