Cryptocurrency (Mar 10, 2021 09:00AM ET)
Parity Technologies to propose parachain governance framework for Polkadot
Parity Technologies, the company behind Polkadot, is planning to roll out a new parachain that could enhance the use case of the network.
“Statemint” is the first proposed common-good parachain for the Polkadot network, Parity Technologies announced Tuesday. A common-good parachain is a parachain that’s granted slots via governance as opposed to the auction mechanism that underlies Polkadot. The auction method doesn’t work effectively for all parachains — i.e., those that could be considered as “common goods.”