Polkadot Projects That Are HOT! My TOP 3!!

Ad blocking detected

Thank you for visiting CanadianInsider.com. We have detected you cannot see ads being served on our site due to blocking. Unfortunately, due to the high cost of data, we cannot serve the requested page without the accompanied ads.

If you have installed ad-blocking software, please disable it (sometimes a complete uninstall is necessary). Private browsing Firefox users should be able to disable tracking protection while visiting our website. Visit Mozilla support for more information. If you do not believe you have any ad-blocking software on your browser, you may want to try another browser, computer or internet service provider. Alternatively, you may consider the following if you want an ad-free experience.

Canadian Insider Ultra Club
$500/ year*
Daily Morning INK newsletter
+3 months archive
Canadian Market INK weekly newsletter
+3 months archive
30 publication downloads per month from the PDF store
Top 20 Gold, Top 30 Energy, Top 40 Stock downloads from the PDF store
All benefits of basic registration
No 3rd party display ads
JOIN THE CLUB

* Price is subject to applicable taxes.

Paid subscriptions and memberships are auto-renewing unless cancelled (easily done via the Account Settings Membership Status page after logging in). Once cancelled, a subscription or membership will terminate at the end of the current term.

Crypto: Coin Bureau
March 13, 2021

Insider Info in my Socials https://guy.coinbureau.com/socials/
20% Binance Discount https://guy.coinbureau.com/binance/
“NFA” Hoody https://store.coinbureau.com
TOP Crypto TIPS In My Newsletter https://guy.coinbureau.com/signup/

~~~~~

Essential Videos

Ren Cryptocurrency Explained https://youtu.be/3MqWqXiRCEY
Secret Network Explained https://youtu.be/9eOHeLSp7lg
Facebook Diem Libra Explained https://youtu.be/6nDyizNCKWo
Litentry Cryptocurrency Explained https://youtu.be/MLCoLeDiEow
How To DYOR https://youtu.be/HCLWDGYnAzk

~~~~~

- TIMESTAMPS -
0:00 Intro
2:23 Polkadot Recap
4:01 Parachain Slot Auctions
6:45 Pick 1: Acala Network
8:20 ACA Tokenomics
10:11 Pick 2: Phala Network
12:10 PHA Tokenomics
13:45 Pick 3: Litentry
15:38 LIT Tokenomics
17:40 Common Good Parachains
19:16 Conclusion

~~~~~

️ Useful Links ️

► Polkadot Explained In-Depth: https://www.coinbureau.com/review/polkadot-dot/
► Polkadot Parachain Rollout Plan: https://polkadot.network/launch-parachains/
► Acala Network: https://acala.network/
► ACA Tokenomics: https://github.com/AcalaNetwork/Acala-white-paper/blob/master/Acala_Toke...
► Phala Network: https://phala.network/
► PHA Tokenomics: https://medium.com/phala-network/phala-token-economy-whitepaper-refined-...
► Litentry: https://www.litentry.com/
► Litentry Tokenomics: https://research.binance.com/en/projects/litentry
► Common Good Parachains Explained: https://polkadot.network/common-good-parachains-an-introduction-to-gover...

~~~~~

Polkadot Recap

Polkadot is a smart contract compatible blockchain that launched in May last year. Polkadot’s core blockchain is called the Relay Chain which uses a proof of stake consensus mechanism

The Relay Chain itself does not support smart contracts and only handles a handful of transaction types, namely those related to staking

Polkadot gets its smart contract functionality from the additional blockchains which plug into the Relay Chain. Up to 100 parachains or parathreads can connect to the Relay Chain

Parachain Slot Auctions Explained

Because of the limited space on the Relay Chain, Parachain Slot Auctions were invented to ensure these go to the most promising projects

Instead of determining the winner based on their bid at the end of an auction, the winner is picked based on their bid when a random snapshot of all bids was taken during the auction

These bids are made in DOT and are returned at the end of the Parachain lease period. Projects can either bid DOT themselves or have their communities loan them the DOT they need for the auction

Pick 1: Acala Network

Acala brands itself as Polkadot’s “DeFi hub” and consists of two core protocols

The first is a decentralized stablecoin protocol called ‘Honza’, and the second is a tokenized staking liquidity protocol called Homa, which makes staked DOT liquid for use in other DeFi applications

ACA Tokenomics

Once released, ACA will have a maximum supply of 100 million, and 12% of this supply will be allocated to those who participate in the parachain loan offering in proportion to the DOT they’ve delegated

Pick 2: Phala Network

Phala Network is a privacy preserving decentralized database with smart contract functionality. It uses trusted execution environments or TEEs to preserve user privacy

PHA Tokenomics

PHA has an initial supply of 1 billion with an annual inflation rate of about 5% per year after the Phala main net launches. 9% of this supply will go to those participating in the Parachain Loan Offering

Pick 3: Litentry

Litentry focuses on cross chain decentralized identity management. Litentry will make it possible to do things like gain gravitas in governance or build up a credit score that can be used to borrow with less collateral in a private and trustless manner

LIT Tokenomics

Like ACA, LIT has an initial supply of 100 million, and will have an inflation target of 5% per year starting some time in 2025. A whopping 45 million LIT are on the table for lenders in Parachain Slot Auctions

Common Good Parachains Explained

Polkadot recently announced “Common Good Parachains” which can be allocated parachain slots without a DOT bid or bond via governance. It is possible these three projects will fall under this category

~~~~~

Disclaimer

The information contained herein is for informational purposes only. Nothing herein shall be construed to be financial legal or tax advice. The content of this video is solely the opinions of the speaker who is not a licensed financial advisor or registered investment advisor. Trading cryptocurrencies poses considerable risk of loss. The speaker does not guarantee any particular outcome.

#Polkadot #DOT #crypto #phala #litentry #acalanetwork

The views or opinions expressed in the broadcasts are solely those of the individuals involved and do not necessarily represent those of INK Research and Canadian Insider.