What do Kusama, Polkadot and your spare cryptoasset holdings have in common? Parachain Slot Auctions, that’s what. Kusama and Polkadot which are built on the same architecture, one designed for wild testing of new codes and projects, the other more targeted at enterprise and businesses, both give developers and teams the chance to be part of their networks using Parachains. They do this by featuring in Parachain Slot Auctions, which is a way for them to raise funds, without having to go down the ICO path. ICOs have a bad name and are pretty much a thing of the past.

Owning a Parachain means these projects have the rights to develop on either Kusama or Polkadot. Why not develop on Ethereum you ask? Well, Ethereum is sluggish for transactions. And it is also extremely expensive due to the way it has been built, which is a Proof of Work basis. This means miners have huge amounts of energy expenditures as a way to discourage them from trying to manipulate the public ledger. With both Polkadot and Kusama, which work on a Proof of Stake basis, miners are encouraged to stake their holding on the chains which gives them the motivation to mine, without the implications of huge carbon emissions and energy usage.