The Polkadot block chain is now fully decentralized and permit-free after a decision approved by the community government eliminated the administration rights that the Web3 Foundation had.
Gavin Wood, the co-founder of the developer of Polkadot Parity Technologies, tweeted the release as it happened. The government’s proposal to eliminate special management privileges was enacted around 8 AM UTC on July 21, signaling the actual release of Polkadot.
Polkadot’s main network is not yet active
Polkadot had been in operation since late May, but began operating as an authorized „proof of authority“ (POA) network. The Web3 Foundation validated the network and had special access to intervene in the block chain in case of crisis.
These measures were taken to reduce the damage caused by possible catastrophic security breaches and errors in the newly launched network. Over time, validation was decentralized to the community through a sample collection test system, which now employs more than half of the DOT tokens in circulation through 197 validators.
A key component of the Polkadot consensus is the community governance system, which allows token holders to express their opinion on key ecosystem parameters. One of these parameters is the denomination of DOT tokens, as previously reported by Cointelegraph.
The governance system was also used to eliminate access by managers, in what Wood called a „poetic good“ ending. However, the procedure was also necessary from a practical perspective to test the governance system one last time.
Polkadot will take a final vote with actual DOT tokens to define its re-naming
With the vote, Polkadot removed the first candidate chain (CC1) from its main network. This marked the beginning of the real core network for the smart contract platform.
Ready for launch
In anticipation of the final release, Polkadot was busy incorporating companies and developers into its community.
As previously reported by Cointelegraph, Polkadot’s modularity allows it to attract developers from other smart contract platforms, such as Bitcoin Evolution, as well as those from more traditional backgrounds. It uses WebAssembly for its virtual machine, which accepts „Web2“ programming languages such as Rust and C++ for encoding DApps. Frameworks for deploying decentralized applications are also being developed in Solidity, Ethereum’s programming language.
Previously, Parity began integrating Chainlink oracles into Kusama, Polkadot’s „canary network“ used to experiment with the technology in a slightly lower environment.
Polkadot wants to allow you to launch custom blockchains in one hour
Cointelegraph also reported that Celer Network was working to bring layer two scalability to Polkadot.
As part of the interoperability overview, the Web3 Foundation is also funding a variety of projects aimed at bridging other block chains with Polkadot, in particular Bitcoin (BTC).