The long-awaited Polkadot runtime update has been activated on the mainnet. Surprisingly, this update caused an unexpected pause in the functioning of the blockchain’s parachains.
Expectations from Polkadot Runtime Upgrade
Around 10:27 am UTC on April 21, Moonbeam Network reported that an upgrade to Polkadot’s runtime halted block production on several competing parachains, including their own.
Normally, upgrading the Polkadot runtime doesn’t involve using a hardfork, as it’s designed to modify the chain’s logic without the need for a fork. According to information on the Polkadot website, hard forks are time-consuming and inefficient due to the extensive offline coordination they require. In simpler terms, the Polkadot team prefers not to use hard forks because they’re slow, prone to errors, and necessitate a lot of coordination among different parties outside the network.
In simpler terms, parachains on the Substrate network, which includes Polkadot and Kusama among others, can update their functioning code (runtime) without requiring a hard fork by employing Wasm technology. The runtime for Polkadot is kept separate on its own blockchain.
In simpler terms, Polkadot allows for on-chain upgrades of its logic without relying on thousands of node operators to coordinate in advance. Proposed upgrades are approved by stakeholders via the governance system, which then automatically implements the changes.
During the lengthy interruption, Moonbeam announced its resumption of producing new blocks approximately an hour afterwards.
In the industry, it’s not unusual for outages to occur following upgrades, as seen with networks such as Solana and Polygon.
Polkadot and Multiple Outages
An announcement was made initially for the deployment of the JAM upgrade, which is set to replace the existing Interoperability protocol in the Polkadot runtime. This update signifies a progression towards a more streamlined and modular design.
The Polkadot runtime upgrade hasn’t boosted the price of DOT, its native token, in any way, separate from influencing other parachains. Currently, DOT is priced at $7.06 and has experienced a 2.18% decline over the last day. Consequently, Polkadot has dropped from its high of $7.29 to its present value due to this price decrease.
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2024-04-21 21:53