From what I have read, Kusama is the testnet for Polkadot and the mainnet is yet to be launched. Then why is it that both the tokens are already being traded. DOT is supposed to be the governance token but who is holding all of this DOT and where do the votes happen?
I also tried to check the validator stats but the telemetry link on the official website gave an error. There are plenty of projects but the research behind the founders and teams is way more sketchier than it used to be for ICOs. In case of Ethereum, there was atleast this forum where a lot of people used to hunt for scam teams and tried some level of dissuasion. How is that being done on something like Polkadot?
Seeing that you have a lot of posts related to Polkadot, you'd be the ideal person to answer some of these..
@Zasad@
You are absolutely correct that Kusama is a testnet for Polkadot.
First, you need to read at least a couple of articles to understand the main differences.
https://medium.com/polkadot-network/kusama-polkadot-comparing-the-cousins-170e4fe6c280https://medium.com/coinmonks/polkadot-dot-mind-blowing-potential-project-45d359adff53You can find governance and validators on this service
https://polkadot.js.org/apps/Polkadot ecosystem and staking
https://bitcointalk.org/index.php?topic=5305730So what is the main difference between Polkadot and Ethereum?
Ethereum is an open system where anyone can launch any project that can be good or fraudulent.
To launch a project in the Polkadot Ecosystem, you first need to win an auction for a place in the Kusama Ecosystem, complete testing, and then win an auction for a place in the Polkadot Ecosystem. With this approach, fraudulent projects will never join this ecosystem.
If your project is part of the Polkadot ecosystem, then it will automatically be able to interact with other projects in the ecosystem and have the same protection against attacks as the entire Polkadot ecosystem.
The Polkadot ecosystem is currently limited to 100 projects, so the best ones will be there.
You can start a project in "single mode" but then you have to build bridges or interact with ecosystems through other projects.
And the main disadvantage of this is that you will have to solve security issues yourself. You will have to make nodes, pay them a reward, and make sure that they do not do malicious acts.
If you have questions, then ask them.
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https://twitter.com/dotmarketcap/status/1443137512013119493?s=21"The crowdloan today has witnessed the spectacular breakout of @altair_network.
The winning result was finalized at block #13305601. Congratulations to their whole team for this success.
Batch 2 has entered the ending period, only 7 days left & we'll know the last winner."
Auction 9: WINNER
https://parachains.info/details/altairhttps://twitter.com/altair_network____________________________
https://composablefi.medium.com/our-picasso-crowdloan-plans-for-future-kusama-auctions-8cda80d71208"An additional 10% of Picasso’s native token (PICA) supply will be allocated to contributors, on top of the rewards we have announced so far.
Should we not secure the 10th or 11th slot, resulting in an additional crowdloan in the next slot auctions, 5% will be given to contributors who previously staked in our prior crowdloan, and restake the same amount. Additionally, 5% will be distributed to stakers who contribute to the crowdloan after it has reached 100,000 KSM. These bonus rewards would be distributed during the next round of parachain auctions."
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https://parallel.fi/networks/kusama.htmlhttps://twitter.com/ParallelFi/status/1445684385823412224"Parallel-Heiko has officially won the 10th slot auction in the Kusama parachain auctions, with 202K+ KSM and over 12.5K contributions contributed!
Huge Thank You to our community! We are incredibly excited to be a Kusama Parachain and have good news to share:"
https://parachains.info/details/heiko_finance______________________________________
https://twitter.com/Polkadot/status/1448320451118346240"Batch 1 - 1 week cadence
• Auction 1: Nov. 11, 2021 - Nov. 18, 2021
• Auction 2: Nov. 18, 2021 - Nov. 25, 2021
• Auction 3: Nov. 25, 2021 - Dec. 2, 2021
• Auction 4: Dec. 2, 2021 - Dec. 9, 2021
• Auction 5: Dec. 9, 2021 - Dec. 16, 2021
For lease period 6 starting Dec 17 2021
Batch 2 - 2 week cadence; with auctions still lasting 1 week
• Auction 6: Dec. 23, 2021 - Dec. 30, 2021
• Auction 7: Jan. 6, 2022 - Jan. 13, 2022
• Auction 8: Jan. 20, 2022 - Jan. 27, 2022
• Auction 9: Feb. 3, 2022 - Feb. 10, 2022
• Auction 10: Feb. 17, 2022 - Feb. 24, 2022
• Auction 11: Mar. 3, 2022, Mar. 10, 2022
For lease period 7 starting March 9, 2022"
To the moon!
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All information about auctions in the Polcadot Ecosystem can be obtained on the official websites:
https://polkadot.network/parachainshttps://polkadot.network/auctions"Each auction takes place over the course of 1 week and assigns a total slot duration of 96 weeks (divided into 8 12-week lease periods)."
Good alternative resources
https://dotmarketcap.com/https://parachains.info/auctions
