Meet Web3, The Foundation Behind Polkadot and Kusama 🤩 | Parachain Auctions Podcast

We had questions. So we went directly to the source! Join Brian for an episode you DO NOT want to miss! 👇 Today on the podcast we welcome Dieter Fishbein, Head of Ecosystem Development at Web3. In the discussion we cover the backstory of Polkadot/Kusama, where we are at present and what the roadmap looks like for a parachain future. Recorded July 9th, 2021 00:00 Intro 01:51 Who is Dieter Fishbein 06:59 What got you into Polkadot? 08:23 Why does Polkadot exist? 12:23 The relationship between Kusama and Polkadot 19:52 The Function of Kusama 23:05 Why are parachain slots limited? 25:42 Consensus mechanics 27:17 Why are you working with the ecosystem 29:11 Venture capital vs grant program 32:08 Perceived value of Polkadot Kusama 35:43 What are the benefits of building on Polkadot Kusama? 43:49 Why lease the parachain slots? 47:07 Monetary valuation/cost of the parachain slots? 48:54 Why use the candle auction system? 51:49 How is the process carried out for generating the end time? 54:40 What is the relationship between Parity and Web3? 57:38 How to get involved/where to find out more 59:04 Chaos Score 🕸️ Web3 🕸️ https://web3.foundation https://twitter.com/web3foundation Link Dieter mentioned: https://polkadot.network/launch-roadmap/ ⚠️ Be sure to follow us on your favourite podcast platform. 👉Apple: https://podcasts.apple.com/ca/podcast/parachain-auctions/id1567923627 👉 Spotify: https://open.spotify.com/show/0LcLxV4tYLPLNN5ZEmyyWd 🤔 What are Parachains? 🤔 Parachains are custom blockchains that are integrated within the Kusama network. They can be customized for any number of use cases and feed into the main blockchain and heart of its network, called the Relay Chain, thus benefiting from Kusama’s network security. 📚 Parachain slot auctions take advantage of Polkadot and Kusama’s ability to give developers ways to create new crypto assets and decentralized applications (dapps) on top of its blockchain. 📝 Importantly, only 100 parachain slots are expected to be available, a number that is flexible and subject to change by governance vote over time. To claim one of these slots, the parachain projects have to win a parachain slot auction. 📷 For Kusama auctions, the project with the most KSM bonded to support its bid, at the time the auction snapshot is taken, will generally be able to claim the auctioned parachain slot. 📣 Projects may, in their discretion, give rewards to contributors who support their winning bid. 📌 If the auction is lost, the KSM bonded by contributors may be re-claimed at the end of that project’s specified campaign duration, which may last for one or more auctions. 👨‍💻 Where to learn more about Parachain Slot Auctions: 👉 Kraken Learn: https://www.kraken.com/en-gb/learn/parachain-auctions 📌 Kraken Blog: https://blog.kraken.com/post/9438 📜 Kraken Support Centre: https://support.kraken.com/hc/en-us/articles/360060824412 ------------------------------------------------------------------- 📲 Kraken App 📲 🏦 Connect your bank account to buy crypto instantly! 📅 Buy or sell on the go, 24/7/365 📊 Track crypto winners and losers, most popular, top gainers and more 💰 Invest as little as $10 😲 Get started in minutes ! 👉 Download now! 📱 For iOS: https://apps.apple.com/us/app/id1481947260 📱 For Android: https://play.google.com/store/apps/details?id=com.kraken.invest.app #polkadot #parachains #web3 #polkadot #parachainauctions #DOT #auctions #para #web3foundation #KSM ---------------------------------------------------------------------------------------------------------------------------------------------------- The following information is provided to you for your convenience and for illustrative purposes only. It is provided by a third party (“Candidate”), not Kraken. It may be wrong and is subject to change. Kraken does not guarantee, and does not assume any responsibility for, the acts or omissions of Candidate, the performance of their products or services, or the performance of the Kusama network. Kraken does not recommend that you support, and does not endorse, Candidate or any other Parachain Slot Auction participant, or Parachain Slot Auctions in general. Before participating in a Parachain Slot Auction, you must understand the risks and determine that such participation is appropriate for you. See our Terms of Service for more information. -------------------------------------------------------------------- Parachain Auctions, Kusama parachain auctions, parachainauctions, Polkadot, KSM, DOT, crypto, bitcoin, crypto currency, staking, unbonding, bonding, parathreads, relay chain, Parachain Auction Platform, Dieter Fishbein, Brian Hoffman, simple, Relay Chain, blockchain development, developer, co-founder, cofounder, decentralized, web3, Web 3, Parity, Parity technologies, Kraken, crowdloan, crowdfund, 2021, gavin wood, parachain auctions podcast, parachain podcast,