In our latest weekly update, we shared that Plasm successfully connected to Rococo V1 locally. Today we have exciting news to share with everyone! We became the first parachain on Rococo V1, or Polkadot’s first testnet parachain. This is a major step for Plasm Network’s developments in becoming an official Polkadot parachain later this year. This is the first WIN for all of us in 2021.
2020 was a fascinating year for us. We conducted multiple lockdrops, more than 16,000 ETH was locked on our smart contract in 2 months, and we got multiple grants from Web3 Foundation to implement both ZK Rollups and Optimistic Rollups.
2021 is an exciting year for our community. Our highest priority in 2021 is to become a Polkadot parachain and build a dApps hub on Polkadot. Today, Plasm Network has both an Ethereum Virtual Machine and WASM, as well as, layer 2 implementations. Today we became the first parachain on Rococo, and we are sure that we are on the right track to becoming a Polkadot parachain this year.
Some people may remember our previous announcement regarding Rococo V0. So, what is the difference between Rococo V0 and V1?
To make the long story short, Rococo V0 is a prototype, and V1 is the latest version of parachain consensus — the same code that will run on Polkadot and Kusama. In this sense, Rococo V1 is vastly different from Rococo V0, and to become the first Rococo V1 parachain is much more meaningful to us than becoming the first Rococo V0 parachain. After intensively testing on Rococo V1, we believe Polkadot’s codebase feature for parachains is almost complete.
Polkadot’s parachain auction is the most exciting event for us in 2021. Rococo V1 provides teams like ours with the opportunity to test and collaborate with others in advance of the auction itself”
Regarding the Plasm Network’s updates, we will implement the following things in 2021 Q1 and Q2.
- PoS migration
- ZK Rollups
- More Ethereum Compatibility
- Update Plasm Portal
Exciting future ahead of us!
Thank you for being a part of our community and let’s make Web3 scalable together.