Budapest, Hungary, August 15th, 2024,
Chainwire
Mosaic Chain has successfully secured a
parachain slot on the Polkadot Relay Chain, marking a significant
milestone in its journey towards the mainnet launch.
By winning the 73rd parachain auction, Mosaic Chain will be
connected to Polkadot for approximately 96 weeks, from July 3,
2024, to May 8, 2026. During this period, the Polkadot Relay Chain
will provide full economic security and trustless interoperability
for Mosaic Chain through XCM.
The auction was won with a simplified version of the Mosaic
Chain runtime, known as a placeholder runtime, which will be
continuously upgraded as development progresses. Mosaic Chain is
also preparing to launch its testnet soon, where it will beta-test
new functionalities, including an NFT-based Consensus Mechanism.
The testnet will allow for the refinement of features before these
are implemented on the mainnet.
Additionally, Mosaic Chain plans to launch ‘Mosaic Alpha V2’,
its first decentralized application (dApp), which will offer
decentralized portfolio management through Token Baskets,
incorporating tokens from Ethereum, Binance Smart Chain and
Polkadot ecosystems.
"When designing the Mosaic Alpha platform, extensive
research revealed the lack of an ideal home for DeFi apps.
Universal blockchains like Ethereum and Binance Smart Chain, while
suitable for various applications, often fall short for finance due
to competition for transaction processing capacity, leading to
potential delays and increased costs. Recognizing the need for a
more reliable solution, Mosaic Chain was developed specifically for
financial service providers in both Traditional Finance and Web3.
This blockchain aims to create an optimal environment for financial
projects to flourish and bridge the gap between the two worlds,"
said Attila Vidákovics, CEO at Mosaic Chain.
Built with the Substrate blockchain builder framework, Mosaic
Chain will support advanced functionalities such as decentralized
on-chain governance, trustless interoperability, forkless runtime
upgrades, and light-client support.
About Mosaic Chain
Mosaic Chain is dedicated to advancing the capabilities and
interoperability of decentralized networks. Through their
innovative approach and robust development framework, they aim to
provide a secure, scalable, and versatile platform for developers
and users alike.
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Manager
Barnabas
Horvath
barna.horvath09@gmail.com