Currency Economy

Parity Technologies to propose parachain governance framework for Polkadot

Cryptocurrency (Mar 10, 2021 09:00AM ET) Parity Technologies to propose parachain governance framework for Polkadot

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.”

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