Wednesday, December 8, 2021

Shell Becomes the First Parachain to be added to Polkadot Network

Shell is now an official parachain on the Polkadot network after voting on referendum 41. This is a very important milestone for Polkadot as it shows that the network is being adopted by companies around the world.

According to the official announcement on Twitter, Shell would only be able to accept messages from the Relay Chain in order to upgrade itself. In the future, there could be another referendum as soon as the disputes code becomes active.

Read Also: Michaël van de Poppe Outlines What Is Next For Bitcoin (BTC), Ethereum (ETH), Cardano (ADA), Polkadot (DOT)

The official tweet from Polkadot reads as follows:

“Polkadot’s first parachain has been added. Referendum 41 has passed registering the Shell parachain on Polkadot, to ensure block production, inclusion, and finalization. The Shell parachain has extremely limited functionality: it does not even have the notion of accounts.”

Polkadot is one of the largest blockchain networks in the market. According to CoinGecko, DOT, the native virtual currency of the Polkadot platform has reached a price of $51.22 in recent hours. However, it has experienced a price increase of over 16% just last week. This was one of the largest price increases among the top 20.

Polkadot is a blockchain network that is completely different from others. Rather than working with just one network, it works with a set of independent chains that could contain different functionalities. This is one of the main characteristics of the Polkadot ecosystem and how it works.

Read Also: Vitalik Buterin: My Biggest Regret about Ethereum is the Whole ‘8 Cofounders’ Thing

It is worthy of note that Polkadot was created in order to offer scalability to more traditional blockchain networks such as Ethereum (ETH). Nowadays, Polkadot became one of the largest virtual currencies in the world and its ecosystem continues to expand.

Shell’s decision to work with Polkadot shows that there is a clear interest in innovating in the crypto market and Polkadot seems to be one of the best options right now.


Follow us on Twitter, Facebook, Telegram, and Download Our Android App

Tobi Loba
Tobi Loba is a passionate writer with over 3 million readers from all over the world. She graduated from a reputable university. She joined the crypto ecosystem about two years ago and has written lots of ebooks and articles in relation to cryptocurrency and blockchain projects.

Related Articles

Latest Articles