Saturday, April 10, 2021

Polkadot Advances towards Sharding as Acala Wins First Parachain Slot Auction on Rococo

There is another indication of advancement in the Polkadot ecosystem as the Acala network won the first parachain slot auction Rococo. This denotes the advancement of Polkadot towards sharding.

The new attainment was reported by Acala, the all-in-one DeFi hub of Polkadot, via its official Twitter handle on 26th March 2021.

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“Acala has won the first parachain slot auction on Polkadot testnet Rococo, and now Acala occupies the first public parachain slot on Rococo. Keep on building,” Acala reported.

Acala Launches the ‘Acala EVM’ for DeFi on Polkadot

Back in February 2021, Acala’s engineering team announced Acala Ethereum Virtual Machine (EVM), a new innovation in the Polkadot ecosystem that enables Acala to provide Solidity, Substrate, and Web3 developers a complete experience seamlessly with a single wallet.

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According to the report, the Acala EVM also brings protocol composability for EVM and Substrate runtime known as pallets and enables developers to build and deploy decentralized applications (DApps) on Acala with outstanding tooling support.

The report reads in part as follows:

“The Acala EVM leverages the best of Ethereum while unlocking Substrate’s full potential with a composable, single-wallet, Acala-EVM-Substrate-WASM experience with ‘bring your own gas’, on-chain auto-scheduling, and more.”

The way Ethereum does many things Bitcoin has no capability to do, which brought about lots of innovations, Substrate and Polkadot are as well different from Ethereum in a way that will strengthen many new and chain-level innovations without the EVM testing environment.

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In the report, Acala’s engineering team affirmed its firm belief in the power of Substrate, stating that Acala EVM was built to optimize for the full potential and longevity of Substrate, rather than simply redeploying Ethereum on Polkadot.

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Solomon Odunayo
Solomon has a growing passion for writing, this propelled him to keenly work on Eagles News Media for about two years before delving into the cryptocurrency and Blockchain industry he finds more interesting. He worked as a crypto Journalist and Editor at NewsLogical before joining Herald Sheets, owing to the priceless experience he has accumulated since he became a contributor in the crypto community.

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