Gavin Wood says this might be the first major on-chain protocol upgrade.
On July 17, Gavin Wood’s Polkadot, a platform that allows trust-free communication between blockchains, went live with its second proof of concept. This comes two months after PoC-1, which included a relay chain testnet, user interface, and additional staked validators. PoC-2 brings parachains (native Polkadot blockchains designed to have pooled security due to “their own Turing-complete validation mechanism”), staking rewards and slashing, and implementation of Libp2p (“a highly extensible and generic networking stack”).
Last month, ETHNews had the opportunity to interview Gavin Wood about the significance of Polkadot to the blockchain ecosystem. In May, we also ran an explainer on the platform that coincided with the release of PoC-1.
The PoC-2 update took place at 6:49 UTC on July 17 and was completed on-chain by network stakeholders. Wood stated:
“As far as I know, this marks the first major attempt at an on-chain protocol upgrade in the wild.”
Alison is an editor and occasional writer for ETHNews. She has a Master’s in English from the University of Wyoming. She lives in Reno with her spouse and growing animal family. Her favorite things to do include binge listening to podcasts, getting her chuckles via dog memes, and spending as much time outside as possible.
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