Our Journey on Polkadot
We started making Plasm Network back in 2019. Since then, we have delivered a lot of technical features and products in the Polkadot ecosystem. So far, it was a great journey but we are still at the very early stage of Web3.0 movement.
Prior to the upcoming Parachain auction, I though it was a good time to look back on our journey and announce next steps.
Our Achievements in the Ecosystem
Technical Achievement - Grant
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One of the achievements I am proud of are that we have delivered 4 Web3 Foundation grants. Receiving a grant and delivering a grant are two different things. The latter is much tougher than the former. Since we have received 6 grants so far, we are still working on 2 grants, ZK Rollups and Optimistic Rollups. Some people may be interested in the reason why we are implementing Rollups on Polkadot despite the fact that Polkadot itself is a scaling solution. Well, this is a good question. Plasm Network is the layer1 platform that has Rollups solutions. In coming months, we believe a lot of Ethereum projects will use Rollups since Ethereum2.0 takes time. These projects that use Rollups can migrate from Ethereum to Plasm Network or make a multi chain application without compromising their Rollups contracts on Ethereum.
As a reference, I have listed up our grants inn order.
- Plasma module on Substrate (already delivered)
- ink! playground grant (already delivered)
- Optimistic Virtual Machine grant (In progress)
- ECDSA implementation grant (already delivered)
- ECDSA for hardware wallet grant (already delivered)
- ZK Rollups grant (In progress)
Technical Achievement - Parachain
Plasm Network is a Polkadot Parachain candidate that acts as dApps hub that supports multi virtual machine and layer2. We have been making a Parachain long time and here are our technical achievements on Parachain.
- Became the first Polkadot testnet Parachain (Jan 13rd)
- Deployed the first WASM smart contracts on Polkadot testnet. (Jan 31st)
- Completed the first cross chain message transaction on Polkadot testnet with Acala
- Supported Etehreum Virtual Machine on the top of Polkadot testnet Parachain
Lastly, I would like to talk about our ecosystem updates.
Ecosystem Achievements
- Raised $2.4M led by Binance Labs together with HashKey, PAKA Ventures, LongHash, and Digital Finance Group.
- OKEx invested in Plasm Network
- Graduated from LongHash acceleration program
- Became a batch 1 member of Substrate Builders Program
- Conducted lockdrops and 150,000 ETH was locked on our smart contract
- Graduated from UC Berkeley Xcelerator Program
- Became a sponsor of the UC Berkeley Xcelerator Program
It has been a great journey but we are still an early stage of Web3.0 movement. Together with our ecosystem members, we will do our best to realize Web3.0.
Let's make the future of Web3.0 today!