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Reports revealed that three cores were sold for a total of 70 KSM, worth approximately $1,980—each core was sold at an average price of 23.4 KSM, roughly $660.
Coretime allows developers to buy up to 4 weeks or 28 days of uninterrupted blockspace for their app chains. Alice und Bob, a Polkadot enthusiast, explained that more cores will become available as the traditional auction model stops and more parachains transition to coretime.
Echoing these sentiments, Parity Technologies, developers of the Polkadot blockchain, expressed excitement, noting that the sales were “an important development in the roadmap of bringing AGILE CORETIME to the Polkadot mainnet.”
Agile Coretime
According to Parity:
“Agile core usage and coretime allocation will allow any application to access Polkadot’s computational resources based on their precise requirements, without letting valuable blockspace go to waste. Scalability will follow as space is freed up, maximizing the volume of utilized coretime.”
Gavin Wood, the founder of Polkadot, explained that the model would revolutionize resource allocation within the network, introducing a novel approach to blockspace allocation.
According to him:
“The monthly sale of ‘core time’ enables developers to scale block space as needed, while the ‘pay as needed’ option allows for on-demand access to resources. This newfound flexibility has the potential to unlock innovation, increase capacity, and improve resource management within the Polkadot ecosystem.”
Meanwhile, this update arrives at a crucial time as Polkadot gears up for the introduction of the Join-Accumulate Machine (JAM) upgrade. Observers have explained that this upgrade would allow Polkadot to become a multi-core world computer capable of handling any service without scalability or security issues.