Polkadot: Introducing Agile Coretime
The Polkadot Ubiquitous Computer, known for its groundbreaking approach to blockchain scalability and interoperability, is set to undergo a transformative shift with the introduction of the Agile Coretime Model. In this article, we’ll explore the limitations of the current resource allocation system, delve into the innovative Agile Coretime Architecture, and examine how it promises to transform the Polkadot Ecosystem.
The existing model of one core per Parachain with fixed allocations of 6–24 months led to inefficient core usage within the Polkadot Network. With only 48 active cores, the system faced challenges in adapting to varying application needs. Inefficient block production, driven by a fixed block rate of 12 seconds, resulted in financial incentives for producing blocks during peak traffic and empty blocks during low traffic periods. The consequences were apparent, with wasted and underutilized core time becoming a prevalent issue.
Agile Coretime Architecture
Recognizing the limitations of the current system, Gavin Woods and the Polkadot team have introduced the Agile Coretime Model, marking a significant departure from the one-core per Parachain approach. This new paradigm views all cores as a shared resource, available for consumption by any application within the ecosystem, paving the way for a more dynamic and efficient allocation of core time.
Two Formats of Coretime Allocation
The Agile Coretime Model introduces two distinct formats for core time allocation — Bulk Coretime and Instantaneous Coretime:
- Bulk Coretime is sold periodically on a rental basis through the specialized “Coretime chain,” allowing applications to allocate core time in advance.
- On the other hand, Instantaneous Coretime is sold on the relay chain at the spot price, providing real-time flexibility for immediate usage. This commodification of coretime enhances Polkadot’s agility, enabling the market to determine the optimal solutions for successful Dapps and applications.
Coretime as NFTs
One of the groundbreaking opportunities presented by Agile Coretime is the ability to treat Coretime as non-fungible tokens (NFTs). Owners of Coretime can trade their unused Coretime with other applications or Parachains, fostering a more efficient utilization of resources. This model not only maximizes Coretime efficiency but also opens up new avenues for trading within the Polkadot Network.
Agile Coretime promises a more straightforward and cost-effective deployment process for developers building on Polkadot Network. The model attracts a diverse array of projects to the ecosystem, as Coretimes are treated as NFTs, leading to the flow of DOTs across the network. This dynamic approach positions the demand of DOTs as valuable utility tokens within the Polkadot Ecosystem.
Conclusion
With the Agile Coretime Model, Polkadot Network is not just adapting to user needs but revolutionizing the way resources are allocated and utilized within its network. The introduction of Bulk Coretime, Instantaneous Coretime, and the novel concept of treating Coretime as NFTs showcases the commitment to efficiency, flexibility, and innovation. As Polkadot 2.0 emerges, the Agile Coretime Model is poised to redefine the blockchain landscape, attracting more projects and developers to contribute to the growth of the Polkadot Ecosystem.
About Phyken Network
Phyken Network is a Layer 1 app-chain and DeFi protocol on Polkadot, building an RWA asset fractionalization protocol, particularly emphasizing #GRWA: renewable energies and solar power on the blockchain — Secured by Polkadot
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Written by: https://medium.com/@rjkesavchandar
