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Polkadot is live! The parachain "CC1" has officially launched, but investors still need to wait a little longer.

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Polkadot is live! The parachain "CC1" has officially launched, but investors still need to wait a little longer.

Polkadot (DOT) launched a standalone blockchain network on the 26th, but Gavin Wood emphasized that the network cannot yet be considered the mainnet, and DOT investors may need to wait for a period of time.

Polkadot is Live!

Polkadot is a Proof-of-Stake (NPoS) network created jointly by Parity Technologies and Web3 Foundation, aiming to utilize sharding technology to tackle scalability challenges and enhance interoperability between chains. Since its token sale in 2017, the network has been in development for four years, with investors eagerly anticipating the launch of the mainnet.

Former Ethereum co-founder and creator of Polkadot, Gavin Wood, announced yesterday on Mediumthe launch of Polkadot's first candidate chain "CC1." Wood emphasized in the post that CC1 is just a "candidate chain" and not the mainnet of Polkadot. Therefore, the DOT tokens cannot be transferred yet, and if further optimizations are needed, the development team may release a second (or even third) candidate chain. However, Wood revealed that the team is essentially aiming for "CC1" to be chosen as the final version of the Polkadot blockchain.

Open Application for DOT Token Holders to Stake Mine

Polkadot has conducted two rounds of fundraising so far, the first in 2017 and the second in 2019. According to the official private token sale price, its valuation is estimated to be around $1.2 billion. Despite the mainnet launch drawing closer, the current CC1 network has not yet unlocked these tokens, requiring investors to continue waiting. However, Gavin Wood stated that applications are now open for DOT staking mining:

"There is actually no risk or reward at this stage (participating in mining). However, once we move to the next stage, we will select community validators to maintain the network system (NPoS) based on the total DOT amount staked by the community and our proof-of-stake. If you want to be involved from the beginning, you need to get in now."