Last week, the Kusama ecosystem made history by conducting the first coretime trade between blockchains, marking a milestone for the new roadmap of Polkadot 2.0.

On November 9th, 2023, Lastic won a parachain slot auction on Kusama network for leases 34–51 — com um bid de 3.1KSM.

Lastic: A Blockspace marketplace

• Introduces the flexibility that web3 applications needs
• Main goal is to develop a User Interface (UI) tailored for Polkadot BaaS.
• Built on Polkadot’s coretime model
• Redefines how blockspace is both composed and exchanged
• Ensures you get the blockspace you require precisely when you need it

https://twitter.com/parachains/status/1726537825011855421/photo/1

The launch of a blockspace marketplace on Kusama, which will later extend to Polkadot, opens an easy and accessible path for projects and developers to access the required blockspace according to instant demand.

• Builders: Buy blockspace easily for your chain.
• Tinkerers: Get on-demand blockspace for experimenters.
• Traders: See the market dynamics and start trading blockspace.

• Market-Based Scaling

Decrease costs on infrastructure and security by allowing the use of the chain to determine the allocated blockspace. This process assures that you only pay for the resources you utilize, aligning costs with genuine demand.

• Flexible Payment Options

Option to make payments in different forms: from subscription plans to automated payment models. Enjoy the flexibility to pick the payment strategy that aligns with your operational needs and financial strategy.

• Inspired by Energy Markets

By adapting proven concepts from the energy sector to the blockchain environment, Lastic aims to bring efficiency, transparency, and strategic planning to the allocation and utilization of blockspace resources.

• Community Drive and User-Centric UI/UX
• Flexibility Beyond Polkadot

Proof of Concept: Coretime trade

Lastic and Shiden Network negotiated to trade the leases on-chain for 40 KSM and SDN tokens, making Shiden the owner of the slot for leases 34–51, thus renewing its lease on Kusama.

The experiment on Kusama (the canary network) with the Proof of Concept (PoC) using the parachains model was successful, although it is more complex than the sale of instantaneous coretime.

Coretime Model

The coretime model is not yet implemented in Polkadot (live on the Rococo Testnet) and Kusama; however, this transaction using the parachains model serves as a Proof of Concept (PoC) for what coretime trading could achieve.

Polkadot is transitioning from the parachain-only slot auction model to embrace coretime (tradings), providing a more streamlined, cheaper, and less complex track for chains, apps, and builders to access Polkadot’s security, interoperability, and blockspace.

https://twitter.com/pitcoin%5F/status/1708122394471096554

The success of the Proof of Concept (PoC) paves the way for a new method of trading blockspace in line with the vision of Polkadot 2.0 — Blockspace instead of blockchains!