Polkadot Introduces Agile Coretime for Network Efficiency

On Thursday, Polkadot, a public blockchain, launched a new mechanism called "Agile Coretime," introducing a flexible block space model. This replaces the traditional static auction system with a dynamic approach that adjusts resource availability based on demand.

❤️A G I L E❤️
C O R E T I M E

✅Live and enacted onchain.
✅Sales start next week.

In the words of Parity engineer @domuiri, "the possibilities for building and deploying on @Polkadot are more diverse than anywhere else in blockchain." https://t.co/P1nBhqa2qR

— Parity Technologies (@paritytech) September 19, 2024

The Polkadot network is composed of multiple customizable Layer 1 networks (known as parachains) built on top of a base layer called the Relay chain. Previously, parachain teams had to secure limited parachain slots through auctions to share Polkadot's security and interact with other parachains. These auctions required locking significant amounts of Polkadot's native token DOT.

According to Polkadot's Chinese community, PolkaWorld, Agile Coretime is a new parachain resource allocation mechanism. Unlike slot auctions, it "simplifies the allocation process by allowing projects to rent network computing resources, known as Coretime, through sales. This mechanism offers greater flexibility and eliminates the high costs and uncertainties associated with auctions."

This update is part of Polkadot's 2.0 series of upgrades. According to eskimor, the lead developer at Parity Technologies, the company behind Polkadot's blockchain infrastructure, this new feature enables more efficient use of network resources, reducing waste during low activity periods and preventing overload during peak times.

Agile Coretime is expected to lower the entry barrier for smaller projects by reducing the large initial collateral requirements. Coretime can be purchased in bulk or according to project needs.

Sources: The Defiant, Parity Technologies, PolkaWorld