Efinity wins Polkadot’s sixth Parachain public sale – CryptoSlate

Advertisements

Efinity joins the League of. at Speckle Parachain slot auction winners – Acala, Moonbeam, Astar, Parallel Finance and finally Clover Finance.

To win the auction, contributors and investors vote by staking Polkadot’s native cryptocurrency – DOT.

The sixth Parachain slot goes to Efinity

According to engine‘s Twitter announcement won Efinity its place with 7.7 million DOT contributed by over 20,000 community members, securing its place in the expanding ecosystem.

With $ 7.7 million DOT from over 20,000 community members, @efinityio won the 6th @Polkadot Parachain auction! 🎉

Thank you to everyone who has supported us in our quest to bring #NFTs to Polkadot.

To Efinity and beyond! pic.twitter.com/n2ffJEr53C

– Enjin | We are hiring! (@enjin) December 30, 2021

Polkadot’s Twitter announcement revealed that in March 2022 – seven at the start of the lease – Efinity will be on board along with the other auction winners six to eleven.

Congratulations to @efinityio on winning Polkadot’s sixth auction!

Enfinity is in block # 9,388,800. integrated [roughly March 11,2022] at the start of lease 7 with the other winners from auctions 6-11. Over 8.6,000 network participants have locked DOT in favor of DOT! pic.twitter.com/vTKqR3XyhX

– Polkadot (@Polkadot) December 30, 2021

Polkadot parachains are sovereign but interconnected Layer 1 blockchains that are connected and secured to the main relay chain via slots that are leased for up to 96 weeks.

Efinity will thus benefit from Polkadot’s validators for around two years – with the option of extending the lease.

NFT parachain with interoperability and speed

Efinity joins the Polkadot ecosystem as a cross-chain network ready to facilitate pricing and sharing of NFTs.

Based on current benchmarks, the network will process up to 700-1,000 transactions per second.

Enjin is developing a token standard called “Paratokens” that is compatible with Parachains, Parathreads and Smart Contracts and that leverages interoperability with the entire Polkadot and Kusama ecosystem.

At the same time, tokens that were created on other chains – for example Ethereum ERC-20, ERC-721 and ERC-1155 tokens – can be imported into Efinity via a bridge.

Efinity Token (EFI) will be the main utility paratoken provided on the network. Its governance utility enables proposals and referendums to be voted on without the need for participation.

Advertised as the “Next Generation NFT Marketplace”, Efinitly will enable buyers and sellers to create and fulfill orders for any token.

Ultimately, this is supposed to make it easier to develop third-party apps that use the Efinitly Parachain to push NFTs to other blockchains.

CryptoSlate newsletter

With a recap of the most important daily stories in the world of crypto, DeFi, NFTs and more.

Get one Edge in the crypto asset market

Access as a paying member of. for more crypto insights and context in each article CryptoSlate Edge.

On-chain analysis

Price snapshots

More context

Sign up now for $ 19 / month. Discover all the advantages


Share post on

Sonic BTC is reader-supported. When you buy through links on our site, we may earn an affiliate commission.

Second STATE Token Launch and Declare Occasion Announcement – Medium Polkadot

Second STATE Token Launch and Declare Occasion Announcement – Medium

ParaState is pleased to announce the release of our 2nd tranche of STATE tokens...

By wpadminsonic164
7 Bargain Cryptos to Buy After the Crash – InvestorPlace Polkadot

7 Bargain Cryptos to Buy After the Crash – InvestorPlace

While the pain in the cryptocurrency sector is tough to swallow, a bear market...

By wpadminsonic164
Jennifer Connelly Upgrades Polka Dot Shirt Dress With Block Heel Boots for ‘Good Morning America’ – Footwear News Polkadot

Jennifer Connelly Upgrades Polka Dot Shirt Dress With Block Heel Boots for ‘Good Morning America’ – Footwear News

If you purchase an independently reviewed product or service through a link on our...

By wpadminsonic164
Polkadot Decoded 2022: 4 Areas, 3 Continents, 2 Days in June, 1 Superior Expertise – Yahoo Finance Polkadot

Polkadot Decoded 2022: 4 Areas, 3 Continents, 2 Days in June, 1 Superior Expertise – Yahoo Finance

Zug, Switzerland--(Newsfile Corp. - March 3, 2022) - Polkadot is excited to announce plans...

By wpadminsonic164
Shiba Inu, Ripple (XRP), Polkadot, EGC – The Prime Cryptos to Spend money on for 2022 – Analytics Perception Polkadot

Shiba Inu, Ripple (XRP), Polkadot, EGC – The Prime Cryptos to Spend money on for 2022 – Analytics Perception

by Analytics Insight February 4, 2022 This article features top cryptos like Shiba Inu,...

By wpadminsonic164
Sanzooz Finance Introduces SZFT Token to Crypto Audience While Polkadot (DOT) And the Sandbox (SAND) Retracing – U.Today Polkadot

Sanzooz Finance Introduces SZFT Token to Crypto Audience While Polkadot (DOT) And the Sandbox (SAND) Retracing – U.Today

Guest Author Sanzooz Finance's unique ability of problem-solving could make it the next big...

By wpadminsonic164
Polkadot

Top 10 Cryptocurrencies With a Better Future Than Bitcoin – hackernoon.com

Cryptocurrencies gaining popularity due to their ability to provide smooth transaction payments in a...

By wpadminsonic164
Meghan Markle’s Summer Shorts Are The Chic Way To Go Short – STYLECASTER Polkadot

Meghan Markle’s Summer Shorts Are The Chic Way To Go Short – STYLECASTER

Scroll To See More Images If you purchase an independently reviewed product or service...

By wpadminsonic164

Latest Posts

Why are whales shopping for the Cardano dip?  – Cardano Feed Cardano

Why are whales shopping for the Cardano dip? – Cardano Feed

Cardano's ecosystem is starting to look lively once again and whales have taken a...

By wpadminsonic164
Ripple(XRP), Cardano(ADA) & Binance Coin(BNB) Goal at 10% Bounce in 24 Hours !  – Cardano Feed Cardano

Ripple(XRP), Cardano(ADA) & Binance Coin(BNB) Goal at 10% Bounce in 24 Hours ! – Cardano Feed

Cardano(ADA) Price AnalysisCardano price broke through the descending channel a couple of days ago...

By wpadminsonic164
Second STATE Token Launch and Declare Occasion Announcement – Medium Polkadot

Second STATE Token Launch and Declare Occasion Announcement – Medium

ParaState is pleased to announce the release of our 2nd tranche of STATE tokens...

By wpadminsonic164
BTC Information – Heineken prevê aumento de preço Videos

BTC Information – Heineken prevê aumento de preço

Painel diário de notícias de negócios e empresas, comentadas e analisadas pela Business Training...

By wpadminsonic164
Bitcoin Enchancment Proposal 21 Eases Person Expertise When Paying Invoices Bitcoin

Bitcoin Enchancment Proposal 21 Eases Person Expertise When Paying Invoices

The below is a direct excerpt of Marty's Bent Issue #1181: "BIP21 is a...

By wpadminsonic164
Instructions to Research Stablecoins | USDC, USDT, BUSD, PAXOS – Cardano Feed Cardano

Instructions to Research Stablecoins | USDC, USDT, BUSD, PAXOS – Cardano Feed

by Robin Smith May 24, 2022 DeFi videos In the part 1 of 2...

By wpadminsonic164
Kaspars Koskins, CEO of ADALend: “We’re constructing a safe lending platform on Cardano” |  Bitcoinist.com – bitcoinist.com Cardano

Kaspars Koskins, CEO of ADALend: “We’re constructing a safe lending platform on Cardano” | Bitcoinist.com – bitcoinist.com

Launch of the interview series from ADALend CEO Kaspars Koskins, one of the most...

By wpadminsonic164
Bitcoin plunges, and might there be another challenger on the way? Videos

Bitcoin plunges, and might there be another challenger on the way?

Brian Kelly on bitcoin's fall and Powell's comments on digital dollars. With CNBC's Melissa...

By wpadminsonic164