What should you know about the launch of the boca?

Wave card & have spent The Polkadot main network candidate network CC1 was launched at around 11:30 PM on May 26. As we get closer and closer to the full launch of the boca web, what information do investors and developers need to know about the boca web? Jiang fuyao, a member of Acala Network council and founder of Polkawallet, a member of the early boca community, recently visited boca's live broadcast room to share the wonderful content about the recent development of boca.

The following is a selection of content Shared by jiang fuyao, Enjoy ~

Content sharing

& have spent

Poka launched PoA CC1 a few days ago, representing the first candidate chain of poka. PoA is equivalent to an authoritative certification, which is the node maintenance performed by six validators of the Web3 foundation. CC1 represents the first version of the candidate primary network chain.

The authorities are likely to make some big changes and adjustments. It may enter CC2, CC3, and then NPoS.

NPoS represents the first time that the Web3 foundation can launch a verifier election through the "Sudo" module. From the PoA to the NPoS, the verifier outside the foundation can become the node and gradually become decentralized.

In about two weeks, the governance module will be enabled. You can have a chain council, a chain technical committee, or you can participate in a chain referendum.

After another two weeks or so, the "Sudo" module will be removed. Sudo module is equivalent to a super permission. When a certain chain governance is reached, the "Sudo" module can be removed through the chain governance to enter the decentralized network.

Once a decentralized network is in place, a vote can be taken on the chain to open the transfer. Once the transfer is open, the next stage will be the auction of parallel chain slots.

At present, it is still in the PoA network, you can't transfer money now, but you can bind the mortgage, and nominate your favorite verifier nodes, and conduct research and analysis on them.

Once bound and nominated, or initiated to become a validator node, it becomes a candidate state. When PoA turns to NPoS, 20-50 nodes will be selected as official verifier nodes according to the number of COINS they hold and the number of nominations.

What exactly is a boca network for? Think of it as a plug row full of household appliances. Parallel chains are the equivalent of household appliances. A boca is a relay chain that has many parallel chains, which are application-based chains.

Parallel chains do privacy, do Defi, smart contract platform. It's the equivalent of plugging a home appliance into a slot. The boca provides Shared security for these parallel chains, which ACTS as a kind of power supply.

Ii. Interactive q&a

1. What impact will the launch of Polkadot CC1 have on Kusama pilot Network and Acala Network?

Kusama had already taken a big step before Polkadot came online. It has been validated from the PoA network to the NPoS to the removal of Sudo, transferability, and governance on the chain. Kusama was a very successful experimental site for Polkadot. Polkadot's launch testifies to Kusama's outstanding work. Kusama taps into the boca and becomes a secondary relay chain on which many parallel chains run.

For Acala, we expect Polkadot to come online and realize more functions through cross-chain protocol.

2. Although cross-chain projects such as Atom have appeared, the island problem of blockchain value is still serious. How will boca's acala network break the island of blockchain value, build a cross-chain asset interaction network and build a cross-chain decentralized financial network?

Cosmos had a problem some time ago. I won't talk about that. Boca, I'm close. Polkadot is the top state in the entire blockchain industry. The cross-link Demo has been posted on twitter, and the code is updated. We talked internally, and basically within a month or two you'd see things like the poka test network and the Kusama parallel chain slot auction.

3. Is DOT/KSM too centralized now, which is not conducive to network security and decentralization?

The network mechanism of PoS is very clever, every node can get the reward is actually the same. If a node has too many mortgages or gets too many nominations, forming a giant, on the contrary, the return on assets related to that node is relatively declining. This design encourages people to choose nodes with relatively few mortgages. This breaks down the economic model of online evil.

4. May I ask that Defi can help us make money, but how should we avoid risks, such as technical risks or the risk of financial incentive failure?

Our Acala network is also Defi. We will first go to Kusama's parallel chain, so as to make a more radical experiment site and verify it when the economic model is perfect.

We will also take some of the revenue from the platform and make a decentralized sovereign fund to cover the risks.

Then there is the combinatorial nature of Defi, which leads people to do a lot of security audits before going online that are not limited to formal validation.

The most important is to cooperate with the risk control module of the system, such as system parameter monitoring and account checking.

5. Is Acala Network the only defi project of boca ecologica?

There are many other Defi of boca eco, such as our co-founding team, Laminar, which trades mirroring assets on a chain, projects such as rainbow bridge, which also works on adding liquidity to mortgages, and exchanges that make smart contracts for privacy.

And Defi is just one of the more advanced applications in boca ecology. Other privacy and smart contracts are good applications.

6. Suppose the CC1 chain eventually becomes the boca chain, when shall we start the token transfer?

The first two days saw the CC1 of PoA, and there are still five stages before the transfer can be made. Each phase takes about one to two weeks, which means there are about two to three months left to transfer money.

7. Are there any other USES for ACA tokens in Acala network besides handling fees? Where is the future value space of ACA mainly reflected?

There are many other features. Parallel chain slot auctions, for example, would incentivize ACA to let users mortgage DOT to bid for parallel chain slots.

Part of the ACA platform's profits will be to purchase DOT in the early stage and more valuable assets in the chain in the later stage, so as to set up a decentralized sovereign fund. This foundation allows the platform to achieve fundamental assurance and sustainability. Because there are funds that can bid for parallel chain slots themselves.

8. What is the exchange ratio between ACA and Dot in the IPO?

We did a white paper on economic models and analyzed various scenarios. Because it's the first ipo, a lot of it is under study. But to be sure, the return on holding ACA is higher than the return on mortgaging DOT.

9. What sparks can Polkadot + IPFS create?

Teams such as ChainX are combining Substrate with Filecoin, and progress is fairly rapid. Their development capacity is among the best in the country. Many projects are also developing applications based on the boca and IPFS collections. Such as doing social software on the IPFS chain, and distributed storage projects.

10. How to deal with the relationship between DOT and KSM after Polkadot official network succeeds; Similarly, how will Acala handle the relationship between ACA and KAR when Acala goes online?

Kusama is actually positioned differently from Polkadot. Kusama has a lower threshold for developers and project partners. As for the technology, the capital requirements will be lower, and the mortgaged Kusama can become its parallel chain with a lower threshold.

Polkadot is a relay chain of parallel chain services with enterprise level stability. Kusama will also be integrated into Polkadot as a secondary relay chain in development.

Acala first network is connected to Kusama, operates at lower cost and tests economic models. Acala exists in a meaningful way to test real economic models.

11. Ethereum platform: the scale advantage is huge, and the scalability problem will be solved by ethereum 2.0.

Polkadot: based on a flexible framework, the power of Polkadot lies in its Substrate, which is a development framework for creating Polkadot compatible blockchain.

As a developer, how do you choose between two platforms? Does jiang have any Suggestions?

Boca and ethereum 2.0 interpret extensibility in different ways. From the developer, will choose the faster platform from the experience and development.

12. Does Acala have a plan to access real world assets? What is the plan?

Acala has come a long way. We started with two companies, one of which was trading mirror assets up and down the chain, moving the assets down the chain, like foreign exchange, crude oil, and operating on the chain. And it has been made clear that it will cooperate on Acala.

13. Can you talk about the specific executive functions of dSWF fund?

It is a part of our revenue from the platform, a decentralized sovereign fund similar to the Treasury. On the one hand it provides the underpinnings of black swan events; On the other hand, it can meet the needs of self-sustainable development. Because the fund owns DOT, and auction slots need DOT, we can capture slots on our own, which means we can share the security mechanism of the boka.

14. What are the current ways to obtain Acala? Can you buy it on an exchange?

We are currently running the TC3 confectionery festival. There's going to be TC4 and maybe there's going to be TC5. When Kusama goes up the parallel chain, it will also issue some tokens of Acala main network and Karura first network for candy incentive.

The main way to get it is to mortgage DOT, to participate in the first parallel chain auction of the IPO issued on the boca card, and to continuously issue ACA tokens just like the mortgage mining.

15. Will XBTC of ChainX participate in Defi of Acala network, and what assets will be involved? What about security?

ChainX has been our partner. The test web has always been a token with a ChainX test. Xbtc has taken a big step forward and will open source their range of products when the boca web comes online.

We'll have DOT when we're first online, bitcoins, ethereum when boca's are tuned. It can then be added through governance on the chain. In the early stage, multiple assets can be mortgaged directly.

What will Acala focus on this year?

The business side has reached the completion degree of 90%, and the following work is the validation and security audit of Kusama online and boca test of the cross-chain protocol of the online line.

17. Main functions of homa agreement

Homa protocol is a big innovation from defi. It was Acala that released the chain of mortgage PoS network, the chain of mortgage mining, the verifier mortgaging a lot of tokens and having a long unlocking period. When the currency price fluctuates significantly, the verifier needs to trade the locked tokens, but the locked tokens can last for weeks or even months, making it difficult for the asset to be effectively utilized.

The homa agreement releases the liquidity of the locked assets. Users who own a DOT can nominate a list of designated validators on Acala, which is voted on by the governance on the chain and periodically changed. The nomination list can be detected, and the originally locked token can generate a note, which can be traded, or it can be overpledged and regenerated into a stable currency.

The advantage of this is that participating in the POS network is equivalent to buying a house, taking assets to participate in the mortgage is equivalent to the rent of the house collected every month, and the liquidity released by homa is equivalent to taking the rented house to make a mortgage loan. So you can do a lot of things, you can make a lot of use of your assets.

18. Placeholder research has suggested that borrowing on DeFi may erode the security of the blockchain using the PoS consensus protocol. Do you agree or disagree? So how does Acala balance liquidity and safety?

In short, the PoS network is still the original PoS network, and Acala just forms bills without interfering with the original chain. And the homa treaty will form a form of governance on the chain, with referendums forming a list of verifiers to be periodically changed rather than specifying which one.

19. Is there a high threshold and cost for the project to use boka

As a developer, the bar is not high, because there are different solutions. If you have a high need for stability, for example in finance, you need to be involved in parallel chains. If the transaction volume is not high validation class project, can walk the parallel thread channel, only need to pay 100 DOT, can enjoy the same service. It's just that you have to pay a commission for each piece. It's like sharing a bike, you don't have to buy a car to rent it.

A lot of parallel chains can be released on Kusama, but they are not particularly stable, and early attempts are particularly suitable.

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