The Role of Parachain Polkadot: Create Your Polkadot Parachains

Diving into the world of blockchain technology is an exciting venture, especially when it leads to the exploration of groundbreaking frameworks like Polkadot. One of the key features of Polkadot is its ability to support multiple blockchains in a single network, and this is where the term ‘para chain’ comes into play. 

A para chain Polkadot is essentially an individual blockchain network that runs in parallel within the broader Polkadot ecosystem. It’s a whole new universe, with distinct communities, economies, and rules. 

But before you jump in to build your own para chain, there are certain considerations you need to be aware of. Thus, here, we’ll take a closer look at these critical aspects, setting you on a path to understanding and building successful para chains in the Polkadot network.

A Walk Through Polkadot Parachains Model

Polkadot is trailblazing in the realm of Web 3.0 as well as decentralized systems, and it’s all thanks to its unique para chain design. It’s a multi-chain model of a different breed – the heterogeneous type. Polkadot’s Relay chain can be linked to a multitude of individual chains by winning a coveted para chain slot.

You can think of the relay chain as the bedrock blockchain, or the ground zero, while para chains are those layer-1 blockchains zipping along simultaneously. 

With this design, Polkadot lays the foundation for the harmonious coexistence of multiple blockchains.

The Anatomy of Parachain Polkadot

Just like other layer-1 blockchains, Polkadot para chains are unique creatures. They’re equipped with their distinctive runtime logic, economies and native tokens, and individual conditions around their application. 

Now, when they make a connection to Polkadot’s relay chain, they gain protection from it – pretty neat, huh? Additionally, polkadot parachains boasts inherent advantages like interoperability, shared safety, flexibility, and participatory governance.

Para chains: Not Just For Blockchains

Here’s a twist – para chains don’t need to be just blockchains. In fact, applications of all kinds can strut their stuff as para chains. Whether you’re dealing with IoT and Decentralized Finance (DeFi) app development, Digital Wallets, Gaming platforms, or even the infrastructure of Web 3.0 – they can all suit up as para chains.

Before we get into the thick of things, let us introduce you to Webisoft. As innovators in the field of decentralized financing, or DeFi, we’re working on some cutting-edge stuff.

We’re developing complex solutions, from DeFi apps and digital wallets to staking, exchanges, and lending services. And guess what? We’re doing it all on self-governing blockchain networks.

The Invitation to Parachain Development

Polkadot is extending an open invite to developers, encouraging them to launch para chains in its ecosystem. The goal? To break free from the constraints that plague solitary blockchain systems – problems like scaling, compatibility, and applicability. Polkadot is at the front of the pack, showing the way.

Points to Ponder When Creating a Polkadot Para chain

Now before showing you how you can create a polkadot parachain, first go down the things you better keep in mind beforehand. 

1. There’s No Ready-Made Economic Blueprint for a para chain

para chains are unique, autonomous entities. They’re like independent networks or apps, each with its own community, rules, financial dynamics, treasure chest, and links to external chains. 

People who create para chains, along with their communities, are liable for setting up and maintaining their internal economic strategies.

2. Becoming a para chain Involves Opportunity Costs

Initiating your journey as a para chain doesn’t come free of charge. Yet, this initial expense can yield beneficial returns. Polkadot’s para chain selection mechanism offers you an opportunity to earn incentives and enhance the Polkadot network’s value.

3. The para chain Development Toolkit (PDK)

The PDK is essentially the toolbox developers dip into when they’re crafting a para chain. The key ingredients in this toolkit include —

The Role of the State Transition Function (STF)

The STF acts as your assistant, smoothly transitioning an app between states. Given that Relay Chain verifiers will confirm each state received from the collator node prior to executing the full computation, it’s essential for the STF to enable easy verification.

Understanding the Collator Node

Imagine a collator node as the diligent caretaker of the network in the Polkadot ecosystem. Its responsibilities extend to preserving the availability of the para chain’s status, which includes new states birthed from the operation of the STF.

The collator node must remain active online in order to effectively monitor and manage XCMP traffic.

The Role of Cumulus and Substrate as PDKs

Among existing PDKs, two names stand out – Cumulus and Substrate. 

Substrate is like your toolbox for crafting blockchain components – think of networking layers, consensus mechanisms, and a Wasm interpreter. If you’re looking to kick off a new chain, Substrate offers a user-friendly approach to forging your runtime. 

But it’s got a little blind spot – it doesn’t directly cater to Polkadot compatibility. That’s where our friend Cumulus steps in, offering the missing Polkadot support glue code.

Cumulus: Polkadot’s Best Friend

Think of Cumulus as a clever extension of Substrate. Its job? To make it a breeze to morph any runtime built with Substrate inside a Polkadot-friendly para chain. 

For incorporating a para chain into the Polkadot ecosystem, Cumulus has made sure a para chain can play nice with the Polkadot network.

What Cumulus Manages

Cumulus is quite the manager, taking care of essential things like —

• Cross-chain message passing (XCMP), so different chains can communicate smoothly.
• A full-featured client for the Polkadot network, making it easy to interact with the Polkadot network.
• A ready-to-use setup of the Collator node, so you can start creating blocks right away.
• Compatibility with block authorship, so you can write to the blockchain without a hitch.

Deploying Blockchain as a Para chain on Polkadot

The procedures below can be used to install the blockchain you created as a para chain onto the network of Polkadot —

1. Building the Runtime Logic

The first step is to develop the runtime logic for your chain using Substrate. This process is akin to creating the runtime logic for a standalone chain. 

Luckily, you can utilize the Substrate para chain template, which provides a helpful starting point for your project.

# Clone the para chain templategit clone https://github.com/substrate-developer-hub/substrate-para chain-template

# Switch into the para chain template directory cd substrate-para chain-template

# Checkout the proper commit git checkout polkadot-v0.9.16

# Build the paper chain template collator cargo build –release

# Check if the help page prints to ensure the node is built correctly./target/release/para chain-collator –help

2. Crafting the Wasm Executable

Our first step is all about turning your runtime logic into a Wasm executable. Imagine this Wasm code blob as a little container that holds your chain’s complete state-changing program. 

You’ll need this helpful Wasm code blob to begin working on Polkadot as either a para thread or a para chain.

3. Validation: Sending Off the Wasm Code

The Wasm code now needs to face the Polkadot validators. They will examine the state switches of your entire chain or threads using the given code.

4. The Role of the Collator Node

So, what’s the next step in the journey? The validator needs to examine the latest state transitions. And for this, they’ll rely on your trusty collator node. 

Acting as your para chain’s gatekeeper, the collator node has a significant task at hand. Using it, your chain will generate potential new blocks and send them to Polkadot validators, who will find them a spot on the Polkadot Relay Chain.

5. Embracing Transformation with Cumulus: Adapting Your Chain for Polkadot

You might recall that Substrate has an in-built networking layer. However, there’s a minor hiccup – it works harmoniously with solo chains but turns a blind eye to chains linked to any relay chain. 

That’s where Cumulus steps in. Cumulus serves as a powerful extension, bridging the gap and ensuring your Substrate-designed chain logic can integrate seamlessly with Polkadot. This way, your blockchain gets its ticket to become a parachain or parathread within the Polkadot network.

Putting Your Parachains to the Test

Now it’s time to launch your Para chain —

The Rococo Testnet

Say hello to Rococo, the specially designed testnet for putting Polkadot para chains, including ones developed outside of Polkadot, through their paces. When you put your para chain to the test on Rococo, it checks how well your para chain handles connections and information connected to the relay chain.

Each message you send is first whisked off to the Relay Chain. From there, it’s forwarded on to the para chain it’s destined for. To pull off this crucial testing phase, Rococo leans on two essential tools: HRMP (Horizontal Relay-routed Message Passing) and Cumulus.

Acquire Tokens of ROC

!drip YOUR_ROCOCO_ADDRESS​

Create a Rococo Parathread and Register It

All of Rococo’s para chains use identical runtime codes, but they have unique para chain IDs that must be registered with the Relay Chain.

Now you must operate a Rococo collator. To do this, build the following compiler binary:

cargo build –release –locked -p polkadot-collator

Now you must operate a Rococo collator. To do this, build this binary:

./target/release/polkadot-collator –chain $CHAIN –validator

You need to have ROC tokens for testing the para chain. On The matrix, ROC may be found inside the Rococo Faucet stream. Employ this script to obtain ROC tokens:

Taking the Leap: Launching Your Parachain

After your parachain successfully passes cross-chain transfer tests, you’re ready for the big step – deploying it on the Polkadot network. But, there’s a catch – you need to secure a parachain slot first.

Understanding Unique Address Formats

Every Substrate-based chain is unique, especially when it comes to their SS58 encoded address formats. Whether you’re trying to match a prefix to a chain or looking for available prefixes, you can find all the details on this page.

Securing a Coveted Parachains Slot

Making your mark on the Polkadot network means securing a spot for your para chain in the limited para chain slots. And here’s where it gets tricky – these slots are as rare as hens’ teeth. 

Only a few slots become available every so often. So, if a para chain aims for a guaranteed place in each block of the Relay Chain, bagging one of these para chain slots is an absolute must.

The Candle Auction: How para chain Slots have Distributed

When it comes to trading parachain slots, an adapted version of the traditional candle auction takes center stage, aimed at boosting blockchain security.

Picture a classic candle auction as an open contest. Bidders continuously up the ante until a triumphant bidder outshines all others. When it comes to online candle auctions, a random number usually triggers the end of the auction, leaving bidders uncertain about how long the bidding phase will last.

Parachain candle auctions, however, put a twist on this approach. Instead of a random number dictating the start, a defined bidding period is provided to the bidders. The end of the auction, on the other hand, is determined retrospectively.

During this bidding window, bids keep coming in. But here’s a heads-up for you – if you’re planning to slide in a last-minute bid, you might want to reconsider. The reason? The retrospectively determined closing time might turn out to be earlier than when your late bid was placed.

The Benefits of Crafting a Para chain

Polkadot’s para chain technology presents an impressive suite of benefits over conventional blockchain blueprints.

Sky’s the Limit with Scalability

The genius of para chains lies in their ability to enable multiple chains to work side by side. Each chain processes transactions in its own lane, unfettered by the pace of the slowest chain in the network.

Safety First with Enhanced Security

When it comes to security, para chains raise the bar. Each chain comes with its very own validator set, cutting down the chances of double-spending attacks. After all, a validator only has a single target on its back.

Simplified Interoperability

Interoperability is a breeze with para chains, unlike their traditional blockchain counterparts. Here’s why – any para chain can link up with any other para chain in the network, no central exchange needed. 

This makes for smooth sailing when it comes to exchanging data and value between different chains.

Upgrading Governance

Polkadot’s para chains bring a fresh perspective to governance, one of the pitfalls of traditional blockchains. Polkadot’s governance model enables on-chain voting on network upgrades and changes. 

This ushers in a democratic decision-making process, as opposed to the iron-fisted control seen in centralized models.

Boosting Decentralization

para chains take decentralization up a notch by allowing anyone to launch their chain on Polkadot. This fosters competition and lowers the drawbridge for new projects eager to launch a blockchain application.

Walking the Tightrope: The Risks of Building a Parachains Parachains

Creating a para chain isn’t a walk in the park – it comes with its fair share of risks. It involves orchestrating a symphony of independent actors, each playing their own tune. Then there’s the chance of technical hiccups that could throw a wrench in the works of the para chain launch. 

And of course, there’s always the possibility that the wider community might not embrace the para chain, which would mean all your efforts go down the drain.

Final Words

Delving into the Polkadot network and creating your own para chain is an intriguing journey, filled with unique challenges and opportunities. There’s no pre-defined economic model to follow, giving you the flexibility to shape your para chain’s economy according to your needs. 

Becoming a para chain comes with its costs, but the potential returns can make it worthwhile. And, with the para chain Development Kit, you have the essential tools at your disposal, including the vital State Transition Function and Collator Node. 

In the decentralized application space, Polkadot offers endless possibilities due to all these factors. So, as you embark on this journey, keep these insights in mind to make your para chain a successful contributor to the Polkadot ecosystem.

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