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Parity Technologies to propose parachain governance framework for Polkadot

Published 03/09/2021, 07:30 AM
Updated 03/09/2021, 09:00 AM
Parity Technologies to propose parachain governance framework for Polkadot

Parity Technologies, the company behind Polkadot, is planning to roll out a new parachain governance framework that could enhance the use case of the network.

“Statemint” is the first proposed common-good parachain for the Polkadot network, Parity Technologies announced Tuesday. A common-good parachain is a parachain that’s granted slots via governance as opposed to the auction mechanism that underlies Polkadot. The auction method doesn’t work effectively for all parachains — i.e., those that could be considered as “common goods.”

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