The DeFi Acala Network platform was the first to receive a parachain slot on the Polkadot testnet. The launch of parachain brought the platform closer to its goal of interconnecting the Polkadot ecosystem.
Polkadot developers continue to develop the ecosystem and are getting closer to deploying sharding. The DeFi Acala Network platform, which launched in January 2020, was the first to receive a parachain slot on the Rococo testnet. Last month, Acala developers launched an Ethereum Virtual Machine (EVM) based on Polkadot’s Substrate modular architecture, making it easier to interact with Ethereum-based assets.
The official launch of parachain takes platform developers one step further towards their goal of interconnecting Polkadot’s rapidly expanding infrastructure. Polkadot’s parachain system will use shards to process transactions in parallel. Projects compete for the parachain status in the slot auction process.
Last August, Polkadot developers launched the Rococo testnet to implement sharding using parachains. Developers are testing communication protocols between shards before projects are deployed to the experimental Polkadot Kusama network and eventually to the Polkadot mainnet.
Acala later plans to launch a dollar-backed stablecoin designed to be used in any Polkadot-based project. On March 26, the new Polkadot DAO Alliance was also announced, which aims to foster the development of decentralized governance in the Polkadot ecosystem. The alliance was created by leading Polkadot projects: SubDAO, Plasm, Phala, Stafi, Bifrost, Darwina, Zenlink and DeepDAO. The alliance plans to create a startup development fund based on Polkadot.
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